Conditions not requiring license

An administrator is not required to hold a license as an administrator in this state if all of the following conditions are met: (1) The administrator has its principal place of business in another state; (2) The administrator is not soliciting business as an administrator in this state; (3) In the case of any group policy or plan of insurance serviced by the administrator and less than one hundred certificate holders reside in this state. Source: SL 1992, ch 352 , § 26.