New Mexico § 38-1-9 - Defense of action by unauthorized insurer

§ 38-1-9. Defense of action by unauthorized insurer

A. Before any unauthorized foreign or alien insurer shall file or cause to be filed

any pleading in any action, suit or proceeding instituted against it, such unauthorized

insurer shall (1) deposit with the clerk of the court in which such action, suit or

proceeding is pending cash or securities or file with such clerk a bond with good

and sufficient sureties, to be approved by the court, in an amount to be fixed by

the court sufficient to secure the payment of any final judgment which may be rendered

in such action; or (2) procure a certificate of authority to transact the business

of insurance in this state. B. The court in any action, suit or proceeding, in which service is made in the manner

provided in Subsection B or C of Section 2 may, in its discretion, order such postponement

as may be necessary to afford the defendant reasonable opportunity to comply with

the provisions of Subsection A of this section and to defend such action. C. Nothing in Subsection A of this section is to be construed to prevent an unauthorized

foreign or alien insurer from filing a motion to quash a writ or to set aside service

thereof made in the manner provided in Subsection B or C of Section 2 hereof on the

ground either (1) that such unauthorized insurer has not done any of the acts enumerated

in Subsection A of Section 2, or (2) that the person on whom service was made pursuant

to Subsection C of Section 2 was not doing any of the acts therein enumerated.