The director or his designee may license insurers, subject to other requirements of existing insurance laws, to transact the following kinds of insurance in this State:
(a) life insurance and annuities;
(b) accident and health insurance;
(c) property insurance;
(d) casualty insurance;
(e) surety insurance;
(f) marine insurance;
(g) title insurance;
(h) multiple lines insurance, meaning any two or more of the kinds of insurance listed in items (b), (c), (d), (e), and (f).
Each license issued is for an indefinite term unless revoked or suspended.
HISTORY: Former 1976 Code Section 38-5-30 [1962 Code Section 37-109.1; 1964 (53) 2051] recodified as Section 38-5-40 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-20 [1962 Code Section 37-109; 1964 (53) 2051; 1968 (55) 2407; 1979 Act No. 40, Section 1] and former Section 38-5-210 [1986 Act No. 540, Part II, Section 31 (H)] recodified as Section 38-5-30 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 533; 2002 Act No. 228, Section 2, eff May 1, 2002.