375.789. Unauthorized company instituting court action must file bond or security and procure certificate of authority, exception.
Unauthorized company instituting court action must file bond orsecurity and procure certificate of authority, exception.
375.789. 1. Before any unauthorized insurance company files or causesto be filed any pleading in any court action, suit or proceeding or in anynotice, order, pleading, or process in such administrative proceeding beforethe director instituted against such person or insurance company, by servicesmade and provided in section 375.788, such insurance company shall either:
(1) Deposit with the clerk of the court in which such action, suit, orproceeding is pending, or with the director of the department of insurance,financial institutions and professional registration in administrativeproceedings before the director, cash or securities, or file with such clerkor director a bond with good and sufficient sureties, to be approved by theclerk or director in an amount to be fixed by the court or director sufficientto secure the payment of any final judgment which may be rendered in suchaction or administrative proceeding;
(2) Procure a certificate of authority to transact the business ofinsurance in this state. In considering the application of an insurancecompany for a certificate of authority, for the purposes of this paragraph thedirector need not assert the provisions of section 375.916 against suchinsurance company with respect to its application if he determines that suchinsurance company would otherwise comply with the requirements for suchcertificate of authority.
2. The director of the department of insurance, financial institutionsand professional registration, in any administrative proceeding in whichservice is made as provided in section 375.788, may, in his discretion, ordersuch postponement as may be necessary to afford the defendant reasonableopportunity to comply with the provisions of this section and to defend suchaction.
3. Nothing in this section shall be construed to prevent an unauthorizedinsurance company from filing a motion to quash a writ or to set aside servicethereof made in the manner provided in section 375.788 on the ground that suchunauthorized insurance company has not done any of the acts enumerated insection 375.786.
(L. 1972 H.B. 1264 § 375.787)