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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

  Chapter 375back to chapter 375

  375.871.  Admitted foreign company may withdraw, how. — 1.  Any foreign insurance company admitted to do business in this state may withdraw from this state by filing with the director a statement of withdrawal, signed and verified by a president, vice president or an executive officer corresponding thereto, or in the case of a reciprocal, by the attorney in fact, and setting forth:

  (1)  That the company surrenders its authority to transact business in this state and returns for cancellation its certificate of authority;

  (2)  Except in the case of a reciprocal, that the withdrawal of the company from this state has been duly authorized by the board of directors, trustees or other governing body of the company; and

  (3)  A post-office address to which the director may mail a copy of any process against the withdrawing company that may be served upon him.

  2.  Upon the filing of the statement together with its certificate of authority with the director and payment of any taxes or charges that may be due, the director shall cancel the certificate of authority and return the cancelled certificate to the company.  The authority of the company to transact business in this state shall thereupon cease.

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(L. 1967 p. 516)


< end of effective 28 Aug 1967 >

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