(a) Within a reasonable time after the filing of a completed application for an initial certificate of authority, the Commissioner shall:
- (1) issue an appropriate certificate of authority; or
- (2) disapprove the application and state the grounds for disapproval.
- (b) On request of an insurer, the Commissioner may issue a certificate of authority limited to a particular type of insurance or insurance coverage within the scope of a kind of insurance.
Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 53.