Question

An insurance company organized under New York laws and licensed to do business in Texas is considered a:

a) Domestic insurance company
b) Foreign insurance company
c) Alien insurance company
d) Non-resident insurance company

Answer 1

An insurance company organized under New York laws and licensed to do business in Texas is considered a foreign insurance company.

Step-by-step explanation:

An insurance company organized under New York laws and licensed to do business in Texas is considered a foreign insurance company. In this case, 'foreign' does not refer to a company from another country, but rather a company organized under the laws of one state and doing business in another state. This is different from a domestic insurance company, which is organized and licensed in the same state.