#business #certificate #of #deposit
The Uniform Certificate of Authority Application (UCAA) process is designed to allow insurers to file copies of the same application for admission in numerous states. Each state that accepts the UCAA is designated as a uniform state. While each uniform state still performs its own independent review of each application, the need to file different applications, in different formats, has been eliminated for all states that accept the uniform application. The UCAA includes three applications.
The Primary Application is for use by newly formed companies seeking a Certificate of Authority in their domicile state and by companies wishing to re-domesticate to a uniform state. The Expansion Application is for use by companies in good standing in their state of domicile that wish to expand their business into a uniform state. The Corporate Amendments Application is for use by an existing insurer for requesting amendments to its certificate of authority.
What are Uniform States?
A Uniform State is one that has committed to streamlining the application approval process by accepting the UCAA for company admissions. All states are accepting the UCAA and are considered Uniform States.
In the following web pages, you will find a detailed explanation of the various admission requirements for the Primary, Expansion and Corporate Amendments Applications. You will also find instructions designed to assist you with preparing and submitting the necessary documentation. Each state’s review process may follow slightly different time lines to complete a comprehensive and detailed operational and financial review of the applicant’s business. All Uniform States share a standard goal of processing Primary Applications within 90 days of receipt and Expansion and Corporate Amendments Applications within 60 days of receipt. Please be aware that due to the varying resources in each state, the actual length of review may vary by state