A. Each domestic insurer shall have and continuously maintain in this state:
1. A known place of business which may be the office of its statutory agent.
2. A statutory agent, which agent may be the director, an individual, who has been a resident of this state for three years, a domestic corporation or a foreign corporation authorized to transact business in this state.
B. Failure to appoint a statutory agent by a domestic insurer may result in the revocation or suspension of such insurer's certificate of authority.
C. The appointment required herein shall be filed with the director.