Section 27-10-54

Transaction of insurance business not authorized by article.

Nothing in the Unauthorized Insurers Process Act shall be construed to authorize or permit the transaction of any insurance business in this state by any unauthorized insurer nor relieve any such insurer from any penalty provided by law in the transaction of business in this state.

(Acts 1951, No. 768, p. 1335, §5; Acts 1971, No. 407, p. 707, §218.)