375.281. Company to furnish bond or certificate of authority before pleading. - Missouri Statutes

Company to furnish bond or certificate of authority before pleading.

375.281. Before any insurance company, association, or otherinsurer not incorporated or authorized under the laws of thisstate shall file or cause to be filed in any action, suit orother proceeding instituted against it any answer or otherpleading, the insurance company, association, or other insureraforesaid shall either:

(1) Deposit with the clerk of the court in which the action,suit or proceeding is pending, cash or securities, or shall filewith the clerk a bond with good and sufficient sureties to beapproved by the court, in any amount to be fixed by the courtsufficient to secure the payment of any final judgment which maybe rendered against it in the action, together with coststhereof; provided, however, that the court may in its discretionmake an order dispensing with the deposit or bond where theinsurer makes a showing satisfactory to the court that* itmaintains in a state of the United States funds or securities, intrust or otherwise, sufficient and available to satisfy any finaljudgment which may be entered in the action, suit or proceedings;or

(2) Shall procure a certificate of authority to transact thebusiness of insurance in this state.

(L. 1951 p. 276 § 375.165, A.L. 1967 p. 516)

*Word "that" does not appear in original rolls.