§ 344. Certificate furnished by non-resident. (a) The non-resident
owner of a foreign vehicle may give proof of financial responsibility by
filing with the commissioner a written certificate or certificates of an
insurance carrier authorized to transact business in the state, District
of Columbia, or territory or lands in continental United States under
the exclusive jurisdiction of the United States, or a province of Canada
in which the motor vehicle or motor vehicles described in such
certificate is registered, or if such non-resident does not own a motor
vehicle, then in the state, District of Columbia, or territory or lands
in continental United States under the exclusive jurisdiction of the
United States, or province of Canada in which the insured resides and
otherwise conforming to the provisions of this article, and the
commissioner shall accept the same upon condition that said insurance
carrier complies with the following provisions of this section.

(1) Said insurance carrier shall execute a power of attorney
authorizing the commissioner to accept service on its behalf of notice
or process in any action arising out of a motor vehicle accident in this
state.

(2) Said insurance carrier shall duly adopt a resolution which shall
be binding upon it, declaring that its policies shall be deemed to be
varied to comply with the law of this state relating to the terms of
motor vehicle liability policies issued herein.

(3) Said insurance carrier shall also agree to accept as final and
binding any judgment of any court of competent jurisdiction in this
state duly rendered in any action arising out of a motor vehicle
accident.

(4) Said insurance carrier shall also agree to pay any assessment for
expenses of administration of this article levied against it as provided
in section three hundred sixty-three of this chapter.

(b) If any foreign insurance carrier which has qualified to furnish
proof of financial responsibility as hereinbefore required defaults in
any said undertakings or agreements, the commissioner shall not
thereafter accept any certificate of said carrier, whether theretofore
filed or thereafter tendered as proof of financial responsibility so
long as such default continues.