40-2415. Unauthorized insurer's false advertising process act; legislative declaration.
40-2415
40-2415. Unauthorized insurer's false advertising process act;legislative declaration.The purpose of this act is to subject to the jurisdiction of thecommissioner of insurance of this state and to the jurisdiction of thecourts of this state insurers not authorized to transact business in thisstate which place in or send into this state any false advertising designedto induce residents of this state to purchase insurance from insurers notauthorized to transact business in this state. The legislature declares itis in the interest of the citizens of this state who purchase insurancefrom insurers which solicit insurance business in this state in the mannerset forth in the preceding sentence that such insurers be subject to theprovisions of this act. In furtherance of such state interest, thelegislature herein provides a method of substituted service of process uponsuch insurers and declares that in so doing, it exercises its power toprotect its residents and also exercises powers and privileges available tothe state by virtue of Public Law 15, 79th Congress of the United States,chapter 20, first session, S. 340 (U.S.C. Title 15, chapter 20, sections1011-1015; U.S.C.A. Title 15, chapter 20, sections 1011-1015) whichdeclares that the business of insurance and every person engaged thereinshall be subject to the laws of the several states; the authority providedherein to be in addition to any existing powers of this state. Theprovisions of this act shall be liberally construed.
History: L. 1963, ch. 265, § 1; July 1.