An action shall not be maintained against any such insurance company upon any right of action arising out of an insurance policy, annuity contract, or contract supplemental to any insurance policy or annuity contract, issued by such company, vested in a person residing in another state or country, or in the estate of such nonresident person, if prior to actual notice of the appointment in this State of an administrator, executor, or guardian of the estate or person of such nonresident, such right of action has been discharged or released by the executor, administrator, or guardian of such nonresident person or estate appointed in the state of his or her residence, or by a transferee of such policy, annuity contract, contract supplemental to any policy of insurance, or annuity contract or right of action thereon. (Added 1967, No. 344 (Adj. Sess.), § 1 (ch. 1, subch. 12, § 2).)