The following table shows the state specific information for redomesticating to a new state. Please note that, the Redomestication of a Foreign (Non-Domestic) Insurer chart should also be reviewed when filing a redomestication application.
Last Updated: 10/31/2023
Updates to the information will be noted with a “ ** ” next to the state name and edits will be italicized and bolded.
State | Description |
---|---|
AL^ |
Section 27-27-29. Principal place of business and home office of domestic insurers; maintenance of assets in state; removal of records or assets; exceptions. |
AK^ | Contact State for requirements. Kevin Richard kevin.richard@alaska.gov. |
AZ^ | With the Plan of Operation, provide the complete plan of redomestication that includes a copy of the Shareholder and the Board of Directors resolutions authorizing this change, and the targeted effective date. |
CT^ |
Connecticut General Statutes section 38a-57. Foreign insurers redomesticating to Connecticut are required to meet with the Insurance Department and obtain permission to maintain company records outside the state. |
FL^ |
A foreign insurer redomesticating to FL must maintain a Florida office and keep their books and records here in this state, though there are exceptions. |
IL^ |
When a company redomiciles to IL, they must have a home office or principal place of business in IL and they must have at least 3 directors who are residents and citizens of the State of IL. The applicant needs to have a Plan approved to have certain records outside IL pursuant to Section 133 of the Illinois Insurance Code. |
IN^ |
Indiana Code 27-1-6-21 sets forth the requirements for physical presence as follows: |
KS | Refer to K.S.A. 40-2,162 and the requirements pertaining to the filing of a Primary Application. |
KY^ | Pursuant to KRS 304.24-500(2), the company must designate its principal place of business at a place in Kentucky. The company can request that the books and records be kept out of state but must have the approval of the Executive Director and be brought to Kentucky for examination. The officers do not have to be residents of Kentucky. |
LA^ | The Commissioner may grant a waiver to the requirement that the books and records be maintained within the state pursuant to La. R.S. 22:68. Louisiana domiciled insurers are required to have a minimum of 5 and a maximum of 50 directors. |
MD^ | Physical presence is required unless exemption is granted by the Commissioner. A domestic insurer must keep in State all general ledger accounting records and all assets with the exception of real property and some securities deposited in other jurisdictions, pursuant to Section 4-115 of the Insurance Article of the Annotated Code of Maryland. |
MI^ |
At least one director must reside in Michigan (§500.5238). See state-specific filings checklist at https://www.michigan.gov/difs/forms/insurance/ucaa/michigan-specific-ap…. |
MS^ | MCA 83-20-1 et.seq. |
MO^ |
20 CSR 200-17.300 Procedure for Redomestication (c) The insurance company must apply for redomestication to Missouri. The law (section 375.908, RSMo) requires a company redomesticating to Missouri to comply with all the requirements of law relative to organizing and licensing a domestic insurer. This means that the company must: |
MT^ |
Montana has a statutory requirement (Section 33-3-401, MCA) that requires a domestic insurer to maintain its principal place of business and home office in this state. Upon redomestication to Montana, an insurer would become subject to this law. |
NE^ | We require the company to maintain a statutory office in Nebraska, however, we have no statute that requires the company to have its corporate or administrative office in Nebraska. We do not have any statute that requires any company officer to reside in Nebraska, however, we do require at least one member of the board of directors to be a Nebraska resident. (Neb.Rev.Stat. 44-211) |
NV^ | NRS 693A.050. |
NJ^ | In accordance with N.J.S.A 17:17-20.1.a, "An insurer that is formed under the laws of another state and is admitted to transact the business of insurance in this State may become a domestic insurer upon the commissioner's determination that the company has complied with all applicable requirements of Title 17of the Revised Statutes relating to the formation of a domestic insurer of the same type…." |
NM^ |
59A-34-10. Records and accounts. |
NY^ | New York has very specific requirements to be a New York domestic insurer. (1) A new company would need to be formed to merge the existing company into. (2) Must maintain a New York office and a majority of the directors would have to be citizens and residents of the US and at least two must be NY residents. |
NC^ |
Companies seeking to redomesticate to NC must be able to comply with N.C. Gen. Statute §58-7-50, which requires all North Carolina domestic insurers to maintain specific records and assets in North Carolina. N.C. Gen Stat. §58-7-55(3)(a) allows for a waiver from the requirements of N.C. Gen. Stat. §58-7-50 upon written approval from the Commissioner. To seek approval, each insurer must request a waiver from the requirements of N.C. Gen. Stat. §58-7-50, pursuant to N.C. Gen. Stat. §58-7-55(3)(a), and the request must be submitted in writing to the North Carolina Commissioner of Insurance. The insurer must sign an Out of State Operations Agreement through which it agrees to reimburse the NCDOI for examination expenses incurred for out of state examinations. |
OR^ |
Per Oregon statute ORS 732.245, a domestic insurer is required to have and maintain their principal place of business and home office in this state. ORS 732.305 requires not fewer than five directors or one-third, whichever is fewer, to be residents of this state. Companies are required to maintain a home office in Oregon which contains complete and accurate records. ORS 732.245. This requirement will be considered satisfied if complete and accurate records can be provided to the Oregon office promptly upon request. |
PA^ | The department may not look favorably upon a request to redomesticate to PA unless there will be a "significant presence" in the Commonwealth. |
PR | Requirements Regarding Redomestication of Foreign Insurers.pdf (pr.gov). |
RI^ |
§ 27-1-1 Site of principal office and records. – (a) Every insurance company organized after May 3, 1956, under the laws of this state shall have its principal office and maintain all of its records, or duplicates of those records, in this state; provided, that the director of business regulation may, after a public hearing, allow any insurance company, upon application, to locate its principal office and maintain certain original records outside of this state if it is determined that it is not inconsistent with the public interest of the people of the state of Rhode Island. In determining what is not inconsistent with the public interest of the people of the state of Rhode Island, the director shall make findings of fact, reduced to writing and filed with the secretary of state, which findings shall include, but are not limited to the following: |
SC^ |
Insurers and health maintenance organizations desiring to move (or maintain) business records or operations outside of the State can apply to the director for approval. Approvals or denials of request to move records or operations fall within the director's discretion. See S.C. Code Ann. Section 38-5-80(k). |
SD^ | SDCL 58-5-93, requires domestic companies to have and maintain their principal place of business and home office in this state. |
TN^ | The Commissioner may grant an exception upon request. |
TX^ |
Texas would require that the charter of the redomesticated entity reflect at least a city in Texas. A location that the insurer would consider to be its statutory home office. This complies with the law and assists us logistically in tracking domestic insurers. Texas domestics are allowed to keep books and records outside of Texas (implying that its administrative home office operations would also be located with the books and records) pursuant to ch. 803 of the Texas Insurance Code. If a redomesticated entity wished to keep its books and records, thus its operations, outside of Texas, it would have to file for approval, and if approved, established a Texas resident for service of process. |
VT^ | Vermont wants domestic insurance companies to have some kind of an economic presence in the state. There should be some sort of economic benefit to Vermont to accept another domestic insurer. |
WA^ |
"RCW 48.07.020 requires every domestic insurer to establish and maintain in this state its principal office and place of business." The exception would be "RCW 48.07.200 continuing operation in event of national emergency - Principal office and place of business. At any time the board of directors of a domestic insurer may, by resolution, provide that in the event of such a national emergency the principal office and place of business of such insurer shall be at such location as is named or described in the resolution. Such resolution may provide for alternate locations and establish an order of preference." |
WV^ |
Requires Certificate of Deposit from new state of domicile. |
WY^ | WY requires the company's home office, books and records, and assets to be physically located in Wyoming per W.S. 26-24-129. |