Section 6608. Extension of territory  


Latest version.
  • (a)  The  superintendent,  upon
      application by any advance  premium  corporation  may  issue  a  license
      pursuant to section one thousand one hundred two of this chapter to such
      corporation  to do the business in counties additional to those in which
      it is then authorized or in the entire state if such corporation  is  in
      possession of a surplus to policyholders of one hundred thousand dollars
      or more, and is maintaining full unearned premium reserves in accordance
      with section one thousand three hundred five of this chapter.
        (b)   The   superintendent,   upon   application   by  any  assessment
      corporation, may issue a license pursuant to section  one  thousand  one
      hundred  two  of  this  chapter  to  such  corporation to do business in
      adjoining counties additional to those in which it is then authorized or
      in the entire state with the exception of  the  counties  of  New  York,
      Kings,  Queens, Bronx and Richmond, if such corporation is in possession
      of a surplus to policyholders of one hundred thousand dollars  or  more,
      and  is  maintaining  full  unearned premium reserves in accordance with
      section one thousand three hundred five of this chapter.
        (c) Every license  issued  by  the  superintendent  pursuant  to  this
      section shall include the county in which the corporation to which it is
      issued maintains its principal office.
        (d)  Applications  made to the superintendent pursuant to this section
      shall be in such form as he may by regulation require.