Any foreign title insurance company desiring to transact a title insurance business in this state must first file with the commissioner a written power of attorney appointing and authorizing the commissioner as its agent for the purpose of acknowledging or receiving service of process and upon whom process may be served, in all proceedings that may be instituted against the company in any court of this state, or in any court of the United States in this state, which power of attorney shall continue in force so long as any liability remains outstanding against the insurer in this state.
T.C.A. § 56-35-109