Section 3382 - Acts which constitute Secretary of State agent for service of processAny of the following acts in this State, effected by mail or otherwise, by an unauthorized foreign or alien insurer:
(1) the issuance or delivery of contracts of insurance to residents of this State or to corporations authorized to do business therein;(2) the solicitation of applications for such contracts;(3) the collection of premiums, membership fees, assessments, or other considerations for such contracts; or(4) any other transaction of insurance business; is equivalent to and shall constitute an appointment by such insurer of the Secretary of State and his or her successor or successors in office, to be its true and lawful attorney, upon whom may be served all lawful process in any action, suit, or proceeding instituted by or on behalf of an insured or beneficiary arising out of any such contract of insurance, and any such act shall be signification of its agreement that such service of process is of the same legal force and validity as personal service of process in this State upon such insurer.Added 1967, No. 344 (Adj. Sess.), § 1 (ch. 1, subch. 3, § 2 ).