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A person is doing or transacting an insurance business if he performs any
of the following:
1. Making or proposing to make an insurer, any insurance contract;
2. Making or proposing to make, as surety any contract of suretyship as a vocation, not as a
mere incident to any other legitimate business as a surety;
3. Doing any insurance business like reinsurance and similar acts; and,
4. Doing or proposing to do any business equivalent to the above.
of the following:
1. Making or proposing to make an insurer, any insurance contract;
2. Making or proposing to make, as surety any contract of suretyship as a vocation, not as a
mere incident to any other legitimate business as a surety;
3. Doing any insurance business like reinsurance and similar acts; and,
4. Doing or proposing to do any business equivalent to the above.
