§ 58-16-10. Limitation as to kinds of insurance. - North Carolina Statutes

§58‑16‑10.  Limitation as to kinds of insurance.

Any foreign or alien companyadmitted to do business in this State shall be limited with respect to doingkinds of insurance in this State in the same manner and to the same extent asare domestic companies, provided that any foreign insurance company which hasbeen licensed to do the business of life insurance in this State continuouslyduring a period of 20 years next preceding March 6, 1945, may continue to belicensed, in the discretion of the Commissioner, to do the kind or kinds ofinsurance business which it was authorized to do immediately prior to March 6,1945. (1899, c. 44, s. 65; 1901, c. 391, s. 5; 1903, c. 438,s. 6; Rev., s. 4748; 1911, c. 111, s. 2; C.S., s. 6412; 1945, c. 384; 1985(Reg. Sess., 1986), c. 1027, s. 53; 1987 (Reg. Sess., 1988), c. 975, s. 17.)