Section 1107. Licenses for unincorporated insurers

(a) No individual shall
  be or remain licensed to write fidelity and surety insurance who, in any
  court of this state having criminal  jurisdiction  or  in  any  criminal
  action  or proceeding, deposits money or property as bail for another or
  executes as surety any bail bond.
    (b) No individual shall be or  remain  licensed  to  do  an  insurance
  business,  as an insurer unless he is a resident of this state, complies
  with all requirements of this chapter as to capital, surplus,  reserves,
  liabilities,  investments,  deposits  and  other  financial requirements
  imposed upon insurers  doing  the  same  kinds  of  insurance  business,
  confines  his  business  exclusively  to  such  insurance  business  and
  business authorized pursuant  to  the  provisions  of  this  chapter  as
  incidental  thereto,  and  in  all respects conforms to all requirements
  imposed upon such insurance companies, except as to corporate  existence
  and  requirements  incidental  thereto.  No  individual insurer shall do
  business under a corporate or fictitious name or under any  name,  style
  or title other than the true name of such individual.
    (c)  This  section  shall  not affect the authority to do an insurance
  business conferred upon a  reciprocal  insurer  or  Lloyds  underwriters
  pursuant to article sixty-one of this chapter.