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(a) Before an unauthorized insurer files or causes to be filed any pleading in any action or proceeding instituted against it under W.S. 26-12-202 and 26-12-203, that insurer shall:
(i) Procure a certificate of authority to transact insurance in this state; or
(ii) Deposit with the clerk of the court in which the action or proceeding is pending cash or securities, or file with the clerk a bond with good and sufficient sureties, to be approved by the court, in an amount the court fixes sufficient to secure the payment of any final judgment which may be rendered in the action, except that the court may make an order dispensing with the deposit or bond if the insurer shows to the court's satisfaction that it:
(A) Maintains in a state of the United States funds or securities sufficient and available to satisfy any final judgment which may be entered in the action or proceeding; and
(B) Will pay any final judgment entered therein without requiring suit to be brought on the judgment in the state where the funds or securities are located.
(b) The court in any action or proceeding in which service is made in the manner provided in W.S. 26-12-203 may order a postponement as necessary to afford the defendant reasonable opportunity to comply with the provisions of subsection (a) of this section and to defend the action.
(c) Nothing in subsection (a) of this section prevents an unauthorized insurer from filing a motion to quash or to set aside the service of any process made in the manner provided in W.S. 26-12-203 on the ground either:
(i) That the unauthorized insurer did not engage in any of the acts enumerated in W.S. 26-12-202; or
(ii) That the person on whom service was made pursuant to W.S. 26-12-203 was not engaged in any of the acts enumerated in W.S. 26-12-202.
Cite this article: FindLaw.com - Wyoming Statutes Title 26. Insurance Code § 26-12-205. Defense of action by unauthorized insurer - last updated December 01, 2021 | https://codes.findlaw.com/wy/title-26-insurance-code/wy-st-sect-26-12-205/
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