1. Concurrently with the filing of the declaration provided for by the terms of section 379.670, the attorney shall file with the director of the department of commerce and insurance an instrument in writing, executed by him for the subscribers, conditioned that, upon the issuance of certificate of authority provided for in section 379.750, service of process may be had upon the director of the department of commerce and insurance in all suits in this state arising out of the policies, contracts or agreements, which service shall be valid and binding upon all subscribers exchanging at any time reciprocal or interinsurance contracts through the attorney.

2. Three copies of the process shall be served, and the director of the department of commerce and insurance shall file one copy, forward one copy to the attorney, and return one copy with his admission of service.