§ 705 Insurer Certificate Amendment Fees
This law says insurers have to pay $136 each time they file to change their business permission, and they must also pay $424 every year for a permanent permission.
An insurance company wants to add a new type of policy to its license and also keeps its permanent license for the next year.
The company will pay $136 for the change request and $424 for the yearly fee, so it owes $560 total.
Total Cost = ($136 × Number of amendment filings) + ($424 × Number of years the indefinite certificate is held)
An insurer files 2 amendment applications and keeps its indefinite certificate for 3 years.
Result: Total Cost = (2 × $136) + (3 × $424) = $272 + $1,272 = $1,544
AI-generated — May contain errors. Not legal advice. Always verify source.
§ 705 Insurer Certificate Amendment Fees
Last verified: January 11, 2026