§431:4F-103  Authorization of entry.  (a)  An alien insurer may use this State as a state of entry to transact insurance in the United States through a United States branch by:

     (1)  Qualifying as an insurer licensed to do business in this State; and

     (2)  Establishing trust accounts, pursuant to trust agreements approved by the commissioner with a United States financial institution approved by the commissioner, in an amount at least equal to the minimum capital and surplus or authorized control level risk-based capital, whichever is greater, required to be maintained by a domestic insurer licensed for the same kind of insurance.

     (b)  Before authorizing the entry of a United States branch of any alien insurer through this State, the commissioner shall in addition to the requirements of section 431:4F-105 and any other requirement of this chapter, require the alien insurer to:

     (1)  Comply with the requirements of section 431:3-212;

     (2)  Submit an English language translation, as necessary, of any of the documents required in paragraph (1); and

     (3)  Submit to an examination of the insurer's affairs at its principal office within the United States. [L 2004, c 120, pt of §2; am L 2010, c 116, §1(4)]