§431:8-208  Defense of action by
unauthorized insurer; bond.  (a)  Before any unauthorized insurer files or
causes to be filed any pleading in any court action, suit, or proceeding, or
any notice, order, pleading, or process in an administrative proceeding before
the commissioner, instituted against such person or insurer by service made as
provided in section 431:8-207, such insurer shall either:



(1)  Deposit with the clerk of the court in which such
action, suit, or proceeding is pending, or with the commissioner in
administrative proceedings, cash or securities, or file a bond with good and
sufficient sureties to be approved by the court or commissioner, in an amount
fixed by the court or commissioner sufficient to secure the payment of any
final judgment which may be rendered in such action or administrative
proceeding, or



(2)  Procure a certificate of authority to transact
insurance in this State.



(b)  The commissioner, in any administrative
proceeding in which service is made as provided in section 431:8-207, may in
the commissioner's discretion order such postponement as may be necessary to
afford the defendant reasonable opportunity to comply with the provisions of
subsection (a) and to defend such action.



(c)  Nothing in subsection (a) shall be construed
to prevent an unauthorized insurer from filing a motion to quash a writ or to
set aside service made in the manner provided in section 431:8-207 on the
ground that the unauthorized insurer has not transacted any insurance business
in this State. [L 1987, c 347, pt of §2; am L 2003, c 212, §45; am L 2004, c
122, §25]