A. Before any unauthorized foreign or alien insurer shall file or cause to be filed any pleading in any action, suit or proceeding instituted against it, such unauthorized insurer shall [(1)] deposit with the clerk of the court in which such action, suit or proceeding is pending cash or securities or file with such clerk a bond with good and sufficient sureties, to be approved by the court, in an amount to be fixed by the court sufficient to secure the payment of any final judgment which may be rendered in such action; or (2) procure a certificate of authority to transact the business of insurance in this state.
B. The court in any action, suit or proceeding, in which service is made in the manner provided in Subsections [Subsection] B or C of Section 2 [38-1-8 NMSA 1978] may, in its discretion, order such postponement as may be necessary to afford the defendant reasonable opportunity to comply with the provisions of Subsection A of this section and to defend such action.
C. Nothing in Subsection A of this section is to be construed to prevent an unauthorized foreign or alien insurer from filing a motion to quash a writ or to set aside service thereof made in the manner provided in Subsections [Subsection] B or C of Section 2 [38-1-8 NMSA 1978] hereof on the ground either (1) that such unauthorized insurer has not done any of the acts enumerated in Subsection A of Section 2 [38-1-8 NMSA 1978], or (2) that the person on whom service was made pursuant to Subsection C of Section 2 [38-1-8 NMSA 1978] was not doing any of the acts therein enumerated.
History: 1941 Comp., § 19-313, enacted by Laws 1951, ch. 172, § 3; 1953 Comp., § 21-3-9.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Structure 2021 New Mexico Statutes
Section 38-1-1 - Rules of pleading, practice and procedure.
Section 38-1-2 - [Practice statutes may be modified or suspended by rules.]
Section 38-1-3 - [Common law is rule of practice and decision.]
Section 38-1-4 - [Equity rules prevail over common law.]
Section 38-1-5 - Service of process; failure to report.
Section 38-1-6 - Process against foreign corporations.
Section 38-1-6.1 - Process against foreign limited liability companies.
Section 38-1-7 - Purpose of act.
Section 38-1-8 - Service of process upon unauthorized insurer.
Section 38-1-9 - Defense of action by unauthorized insurer.
Section 38-1-10 - Attorney fees.
Section 38-1-11 - Short title.
Section 38-1-12 - Service against incapacitated.
Section 38-1-13 - [Notice of proceedings occurring prior to service of summons or appearance.]
Section 38-1-14 - Notice of lis pendens; contents; recording; effect.
Section 38-1-16 - Personal service of process outside state.