Registration
33 Registration
An insurer who carries on insurance business in the State must be registered under this Division. Maximum penalty: $10 000.
An application for registration under this Division must be made to the Commissioner in the approved form.
The Commissioner must register an insurer who applies in the approved form for registration under this Division.
A registered insurer who is no longer required to be registered may cancel the registration by notice to the Commissioner in the approved form.
For the purposes of this section, an insurer carries on insurance business in the State if the insurer grants or issues in the
State—
life insurance or personal accident insurance for a person whose principal place of residence is in the State at the time that the policy providing the insurance is issued; or
general insurance for an insurance risk within the
State, (whether the head office or principal place of business of the insurer is in the State or elsewhere).
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