§ 27-1-18-6 — Procedure for withdrawal

(a) Any foreign or alien corporation admitted
to do business in this state may withdraw from this state by
surrendering its certificate of authority and by filing with the
department, accompanied by the fees prescribed by law, a statement of
withdrawal setting forth:
(1) the name of the corporation and the state, country, province,
or government wherein it is incorporated or organized, or the state
in which it is domiciled in the United States;
(2) the date of the issuance of the original certificate of authority;
(3) that it surrenders its authority to transact business in this state
and returns for cancellation its certificate of authority; and
(4) a post office address to which the commissioner may mail a
copy of any process against the withdrawing company that may be
served upon him.
(b) Such statement shall be signed, in the form prescribed by the
department, by the president or a vice president and the secretary or an
assistant secretary of the corporation, and shall be verified by the oaths
of the officers signing the same.
(c) The statement as provided for in this section shall be filed with
the department, accompanied by a report of taxable premiums as
provided for in section 2 of this chapter, the amount of tax shown to be
due and payable by such report, its certificate of authority, and after the
payment of the fees prescribed by law, the department shall cancel the
certificate of authority and endorse the same thereon, and return such
cancelled certificate to the company, and the authority of the company
to transact an insurance business in this state shall cease, but the
withdrawal and cessation of business shall not affect any action by or
against such corporation pending at the time thereof, or any right of
action existing at or before the filing of such statement, in favor of or
against such company.
Formerly: Acts 1935, c.162, s.239. As amended by
P.L.252-1985, SEC.80.