(1) Un asegurador no autorizado no podrá entablar ninguna acción en Puerto Rico con respecto a ninguna cubierta de seguro que a la fecha de su expedición fuere para cubrir un objeto residente, ubicado o a ejecutarse en Puerto Rico, pero dicho asegurador podrá contestar una acción según se dispone en las secs. 1005 y 1006 de este título.
(2) El inciso (5) de la sec. 1001 de este título se aplicará igualmente a esta sección.
(3) Esta sección no se aplicará a ninguna acción entablada con respecto a inversiones de un asegurador u otras transacciones no especificadas en el inciso (1) de esta sección, ni a la cubierta de líneas excedentes.
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