31A-5-206. Sale of securities by authorized insurer.
A domestic insurer that has already received a certificate of authority may issue
additional securities to obtain further financing, after obtaining a solicitation permit from the
commissioner. The organizational permit requirements in Section 31A-5-204 apply if the
commissioner prescribes its application. The phrase "organization permit" in Section 31A-5-204
means "solicitation permit" when being applied to this section. The solicitation permit terminates
one year from the date of its issuance. However, this permit may be extended for not more than
one additional year by the commissioner on terms he considers sufficient to protect the
policyholders, the shareholders, and the public.
Amended by Chapter 95, 1987 General Session
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Last revised: Thursday, May 28, 2009