(a) The department shall authorize a foreign mutual insurance company to write the
kinds of insurance authorized by the company's charter or articles of incorporation
in this state if the company:
(1) is solvent as determined under this chapter;
(2) files with the department:
(A) a copy of the company's bylaws certified by the company's secretary; and
(B) a certified copy of the company's charter or articles of incorporation;
(3) appoints the commissioner as the company's agent for service of process as provided
by Chapter 804;
(4) files a financial statement under oath in a form as required by the department;
(5) complies with legal requirements applicable to the filing of documents and the
furnishing of information by a stock insurance company that files an application with
the department for authority to transact the same kind of insurance as the company.
(b) A foreign mutual insurance company's name may not be so similar to a name of a
mutual insurance company or foreign mutual insurance company organized or authorized
to engage in business in this state that it is confusing or misleading.
(c) A foreign mutual insurance company authorized to engage in the business of insurance
under this section has, to the same extent, all of the powers granted to and privileges
of a mutual insurance company organized and operating under this chapter.
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