58-6-16. Use of name deceptively similar to name of foreign insurer prohibited.
107 words·~1 min read·
/sd/title-58/chapter-58-6/58-6-16·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No insurer shall hereafter be formed or newly authorized to transact insurance in this state which has or uses a name the same as or deceptively similar to the name of any foreign insurer doing business elsewhere than in this state if such foreign insurer has within the last preceding twelve months signified its intention to secure incorporation in this state under such name, or do business as a foreign insurer in this state under such name by filing notice of such intention with the director unless the written consent to the use of such name or deceptively similar name has been given by such foreign insurer.