(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. (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. (2) the date of the issuance of the original certificate of authority;
3. (3) that it surrenders its authority to transact business in this state and returns for cancellation its certificate of authority; and
4. (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.

(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.