1. A person shall not transact the business of legal insurance in this state without first obtaining a certificate of authority from one of the following sources:
a. Under this chapter.
b. Under the general laws pertaining to insurance.
2. A person may apply to the commissioner for and obtain a certificate of authority to transact the business of legal insurance in compliance with this chapter. This section does not by itself enlarge the powers of any corporation given by its articles of incorporation or charter, but does authorize a corporation formed under the general business, insurance, or general nonprofit corporation laws of this state to include in its powers the authority to transact legal insurance.
3. An application shall be in a form prescribed by the commissioner. If the applicant is not domiciled in this state, the application must be accompanied by a power of attorney duly executed by the applicant appointing the commissioner, and the commissioner's duly authorized deputies, as the true and lawful attorneys of the applicant in and for this state, upon whom all lawful process in any legal action or proceeding against the applicant on a cause of action arising in this state may be served.
90 Acts, ch 1150, §3
Referred to in § 523F.22
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