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office is located; and after the publication of such notice it shall be unlawful for such company, association, corporation or beneficiary society to issue any new policies or certificates. [Id., $ 3370.]

Sec. 279. Any person or persons who shall make any examination under the provisions of this act shall each receive, as full compensation for his services, the sum of ten dollars for each day necessarily and actually occupied in going to and returning from the place of such examination, and ten dollars per day for each day he is necessarily and actually engaged in making such examination, together with such necessary and actual traveling and boarding expenses as he shall incur in and on account of the performance of said services. All of said compensation and expenses shall be paid to the superintendent of insurance by the company, association, corporation or beneficiary society so examined, on demand of the superintendent, accompanied by the statement of the person making such examination, setting forth in separate items, umder his oath, the number of miles necessarily and actually traveled and the number of days necessarily and actually occupied in going to and returning from the place of such examination, the number of days he was necessarily and actually engaged in making such examination, and the necessary and actual traveling and boarding expenses incurred in and on account of such services. A duplicate of every such sworn statement shall be placed and kept on file in the office of the superintendent of insurance. All money so pail to the superintendent of insurance shall be turned over to the state treasurer within three days after the same is received, and the state treasurer shall issue duplicate receipts therefor, one to be delivered to the superintendent of insurance and the other to be filed with the auditor of state. [i .., $ 3371.]

SEC. 280. All money paid into the state treasury under the provisions of this act is hereby appropriated to the payment of the compensation and expenses lierein specified for making ex

aminations, and shall be paid out on warrants of the state auditor, drawn upon vouchers presented by the person entitled thereto and approved by the superintendent of insurance. [Id., $ 3371.]

SEC. 281. Nothing contained in this act shall apply to grand or subordinate lodges of any fraternal society wherein the only benefits provided for are sick or funeral benefits, not to exceed two hundred dollars in any one case, nor which limits its membership to a particular trade or calling, or to the employés of a particular person, firm or corporation; nor to mercantile associations which simply guarantee insurance to each other in the same lines of trade, and do not solicit insurance from the general public, and which are not subject to the general insurance laws of the state of Kansas, and are not under the supervision of the insurance department of the state. [Id., $ 3372.]

Insufficiency of Assets. - Sec. 282. Whenever it shall appear to the said superintendent, from such examination, that the assets of any life insurance company are insufficient to reinsure its outstanding risks as provided by this act, or that the assets of any insurance company other than life, doing business in this state, are reduced more than twenty per cent. below the capital stock required by this act, or by its charter, he shall require the officers thereof to direct the stockholders to pay in the amount of such deficiency, within such period as he may designate in such requisition; and in default thereof he shall communicate the fact to the attorney-general, whose duty it shall be to commence and prosecute an action in the proper court to dissolve said insurance company, or to enjoin the same from doing or transacting business in this state. Every such action shall be governed by the provisions of article 29 of the code of civil procedure, so far as the same are applicable. | Id., $ 3373.]

Dissolution of Company.- Sec. 283. In case it shall appear to the satisfaction of said court that the assets of said

INSURANCE COMPANIES.

company are not sufficient, as aforesaid, or that the interests of the public so require, the said court shall decree a dissolution of said company and a distribution of its effects, or shall enjoin the same from doing or transacting any business in this state until it shall comply with this act, and be licensed by the superintendent of insurance to resume business.

The court may refer the case to a referee to inquire into and repart upon the facts stated therein. After the superintendent shall have issued his requisition as aforesaid, it shall be unlawful for said company to issue any new policies of insurance or transact'any new business until the court shall have rendered its decision in the case, and until the superintendent of insurance shall have issued to such company a license (if said company has not been dissolved), which license shall be its authority to resume business. [Id., § 3374.]

Transfer of Stock.- SEC. 284. Any transfer of the stock of any company organized under the laws of this state, made during the pendency of any such investigation, shall not release the party making the transfer from his liability for losses which may have accrued previous to the transfer. [Id., $ 3375.]

Annual Report.— Sec. 285. The said superintendent shall annually make a report to the governor of the general conduct and condition of the insurance companies doing business in this state, with such suggestions as he deems expedient, including also the information contained in the statements required of the said companies, and the result of the official valuations of life policies, to be arranged in tabular form in two separate reports, one pertaining to life insurance companies and the other to fire and all insurance companies other than life. He shall also report the names and compensation of the clerks employed by him, and the whole amount of income, and the sources whence derived, and of the expenses in detail during the year ending upon the thirty-first of the preceding December. One thousand copies of each of said reports shall be printed and bound

for the use of the legislature and superintendent, on or before the first day of July in each year. The superintendent shall keep and preserve in a permanent form a full record of his proceedings, including a concise statement of the condition of each company reported, visited or examined by him. [Id., $ 3376.]

Report to be Published.— SEC. 286. That the superintendent of insurance is hereby authorized and required to publish, annually, a report of his department; and said report shall contain the information and matters required by law for the full period since the last report. [Laws 1903, ch. 406, § 1.]

Triennial Valuation of Policies, etc.— Sec. 287. It shall be the duty of the said superintendent, once in three years, to make or cause to be made net valuations of all the outstanding policies, additions thereto, unpaid dividends, and all other obligations of every, life insurance company transacting business in this state; and for the purpose of such valuations and for making special examinations of the condition of life insurance companies, as provided in the laws of this state, and for valuing all policies of outstanding corporations, the rate of interest shall be 41 per cent. per annum, and the rate of mortality shall be established by the tables known as the American experience tables: Provided, That whenever the laws of any other state of the United States shall authorize the valuation of life insurance policies by some designated state officer according to the same standard as herein provided, or some other standard which will require a reserve not less than the standard herein provided, the valuation made according to the said standard by such officer of the policies and other obligations of any life insurance company not organized under the laws of this state, and certified by said officer, may be received as true and correct, and no further valuation of the same shall be required of such company by the superintendent of insurance. The superintendent may, in his discretion, vary the above standard of interest and mortality in cases of companies from foreign countries,

and in particular cases of invalid lives or other extra hazards. It shall be the duty of the superintendent of insurance, whenever requested so to do by any life insurance company organized under the laws of this state, to make annual valuations of all the outstanding policies and additions thereto of every such company, and deliver to said company certificates of such valuation, specifying the amount of the company's reserve on policies thus valued. And for the performance of the duties prescribed by this section the superintendent of insurance shall be authorized to employ an actuary, whose compensation shall be paid by the company whose policies, additions, unpaid dividends or other outstanding obligations are valued, upon a certificate by the superintendent showing the compensation due therefor. [Id., ch. 330, $ 1.]

Forms of Statements.- SEC. 288. The superintendent shall annually, in September, furnish to the insurance companies doing business in this state two or more printed copies of the forms of statements required by this act to be made by them, and he may make such changes from time to time in the form of the same, and such additions thereto, as shall seem to him best adapted to elicit from said companies a true exhibit of their condition in respect to the several points enumerated in the insurance laws of Kansas. [G. S. 1901, $ 3378.]

Deposit of Securities.— Sec. 289. All securities deposited pursuant to the provisions of this act shall be deposited with the treasurer of state, who with his sureties shall be responsible for the safe keeping thereof; and the said treasurer shall give a receipt therefor in duplicate, showing the kind and amount of such securities so deposited, one cop which shall be filed with the superintendent of insurance; anu said treasurer shall only deliver such securities or coupons attached thereto upon the written order of the superintendent of insurance. [Id., $ 3379.]

Fees of Superintendent and other Payment Required. — Sec. 290. There shall be paid to the superintendent

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