N.Y. Insurance Law § 1107: Licenses for unincorporated insurers

§ 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.