§ 4119. Foreign and alien companies; license qualification. No foreign
or alien property/casualty insurance company shall be licensed to do
business in this state unless it shall have continuously transacted an
insurance business in the state or country of its incorporation for at
least three years immediately prior to the issuance of such license. The
superintendent may waive or reduce the three year requirement, with
respect to a license applicant, upon determination that the three year
period is not necessary to safeguard the interests of the public or
policyholders.