Section 83-5-71 - License or certificate effective until suspended, revoked, surrendered or forfeited(1) Notwithstanding any other provision of law, this section establishes the exclusive authority with respect to the duration of a privilege license or certificate of authority for an insurer subject to this chapter and licensed or holding a certificate of authority, or both, to transact business in this state under this Title 83.(2) An insurer must make an initial application in a form prescribed by the commissioner and, upon being granted approval to transact business in this state, a license or certificate of authority, or both, shall be issued and remain in effect until suspended, revoked, surrendered or forfeited.(3) Before being issued an initial license or certificate of authority, an insurer must pay the required privilege tax fee required by Section 27-15-83, along with other required fees, and must continue to pay the aforementioned fees on an annual basis on or before March 1 of each year in order to keep the license or certificate of authority in good standing.(4) Amendments to a license or certificate of authority will require payment by the insurer of the applicable fees.(5) Insurers who were issued a license or certificate of authority, or both, before the effective date of this law will receive an amended license or certificate of authority, or both.Codes, 1892, § 2343; 1906, § 2624; Hemingway's 1917, § 5089; 1930, § 5216; 1942, § 5730; Laws, 1995, ch. 315, § 1, eff. 7/1/1995.Amended by Laws, 2022, ch. 473, SB 2669,§ 3, eff. 7/1/2022.