Any of the following acts in this state, effected by mail or otherwise, by any unauthorized foreign or alien insurance company is equivalent to and constitutes an appointment by the company of the commissioner as its 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 insurance contract, and any such act signifies its agreement that the service of process is of the same legal force and validity as personal service in this state, upon such insurer: 1. The issuance or delivery of insurance contracts to residents of this state or to corporations or limited liability companies authorized to do business in this state. 2. The solicitation of applications for such contracts. 3. The collection of premiums, membership fees, assessments, or other considerations for such contracts. 4. Any other transaction of insurance business.
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