§ 27-16-10 - Security or certificate required before defensive pleadings.
SECTION 27-16-10
§ 27-16-10 Security or certificaterequired before defensive pleadings. – Before any unauthorized foreign or alien insurer shall file or cause to befiled any pleading in any action, suit, or proceeding instituted against it,the unauthorized insurer shall deposit with the clerk of the court in which theaction, suit, or proceeding is pending, cash or securities, or file with theclerk a bond with good and sufficient sureties, to be approved by the court, inan amount to be fixed by the court sufficient to secure the payment of anyfinal judgment which may be rendered in the action, or procure a certificate ofauthority to transact the business of insurance in this state.