1.  Except as provided in subsection 2, every domestic insurer shall have and maintain its principal office and principal place of business in this state.

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2.  The Commissioner for good cause shown may permit an insurer to have and maintain such office or place of business in another state if found by the Commissioner to be in the best interests of the insurer and its policyholders and reasonably convenient to the Commissioner in his or her supervision of the insurer, all subject to such reasonable terms and conditions as the Commissioner shall, by order granting such permission, establish.