§ 58-33-47 — Process against unauthorized insurers for false advertising--Purpose of provisions.

The purpose of §§ to 58-33-57 , inclusive, is to subject to the jurisdiction of the director and to the jurisdiction of the courts of this state insurers not authorized to transact business in this state which place in or send into this state any false advertising designed to induce residents of this state to purchase insurance from insurers not authorized to transact business in this state. The Legislature declares it is in the interest of the citizens of this state who purchase insurance from insurers which solicit insurance business in this state by false advertising that such insurers be subject to the provisions of §§ to 58-33-57 , inclusive. In furtherance of such state interest, the Legislature herein provides a method of substituted service of process upon such insurers and declares that in so doing, it exercises its power to protect its residents and also exercises powers and privileges available to the state by virtue of Public Law 15, 79th Congress of the United States, Chapter 20, 1st Session, S. 340, which declares that the business of insurance and every person engaged therein shall be subject to the laws of the several states; the authority provided herein to be in addition to any existing powers of this state.

Legislative History

SL 1966, ch 111, ch 13, § 26 (1).