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6. The amount due the company on which judgments have been obtained, and the cash value thereof.
7. The amount of stocks in this state, the United States, of any city in this state, and of any other stocks owned by the company, specifying the amount, number of shares, and the
and market value of each kind of stocks.
8. The amount of stock held as collateral security for loans, with the amount loaned on, and the par and market value of each kind of stock.
9. The amount of unpaid assessments on stock, premium notes or contingent liabilities.
10. The amount of interest due and unpaid, and the amount of interest accrued but not due.
11. The amount of premium notes or contingent liabilities on which policies or bonds of guaranty or indemnity are issued.
12. The number of policies or bonds of guaranty or indemnity in force.
13. The amount of premiums received thereon. 14. The amount and description of all other assets. 15. The amount guaranteed under all policies in force. Third. The liabilities of the company, specifying: 1. The amount of losses due and unpaid. 2. The amount of claims for losses resisted by the company.
3. Gross losses in process of adjustment or in suspense, including all reported and supposed losses.
4. The amount of dividends declared and due and remaining unpaid.
5. The amount of dividends, either cash or scrip, declared, but not due.
6. The amount of money borrowed, and the security given for the payment thereof.
7. The amount of all other existing claims against the company.
Fourth. The income of the company during the preceding year, specifying:
1. The amount of cash premiums received.
2. The amount of notes or contingent assets received for premiums.
3. The amount of interest money received.
Fifth. The expenditure during the preceding year, specifying:
1. The amount of losses paid during the year, stating how much of the same accrued prior and how much subsequent to the date of the preceding statement, and the amount at which losses were estimated in such preceding statement.
2. The amount of dividends paid during the year.
3. The amount of expenses paid during the year, including commissions and fees to agents and officers of the company.
4. The amount paid for taxes.
(S 3691-21.) Sec. 8. Requirements of companies of other
statesAny corporation, company or association organized under the laws of any other state of the United States to transact a like business as that provided for in this act, may be admitted and licensed to do business in this state; but as a condition precedent to being admitted to, and transacting business in this state, shall comply with the following conditions, to wit: Deposit with the superintendent of insurance (1) a certified copy of its charter or articles of incorporation; (2) a certificate from the insurance commissioner or superintendent of insurance of its own state showing its authority to do such business; (3) a certificate from said commissioner or superintendent or like authority of its own state that corporations, companies or associations of this state engaged in a like business are, upon complying with the laws of said state, legally entitled to do business in such state; (4) a statement under oath of its president and secretary, or like officers, in the form provided for in this act of its business for the preceding year; (5) a copy of its policy, bond or guaranty, application and by-laws; (6) a certificate from the insurance commissioner, superintendent of insurance or other proper officer of its own state, that such company has invested at least one hundred thousand dollars of its assets in the interest-paying bonds or stocks of the United States or of this state, or of some other state of the United States, of the market value of one hundred thousand dollars in the city of New York, or in bonds and mortgages on unincumbered real estate in this state, or in the state under the laws of which it is organized, of at least double the value of the amount loaned thereon; that such securities are held under the laws of such state by such officer for the benefit of all its policy, bond or guaranty holders; and such certificates shall also state the character of the securities held by such officer, and their value; (7) a duly certified copy of the resolution of its board of directors appointing an attorney in this state upon whom service of summons or other process in all actions begun in this state may be made. 91 0. L. 415.
(3 3691-22.) Sec. 9. Exemption of company of other state
from deposit in this stateNo deposit in this state shall be required of any corporation, company or association of another state, if such company, corporation or association has made the deposit in its own state, referred to in the last preceding section, and has filed with the superintendent of insurance of this state the certificate mentioned in the last preceding section as evidence of such deposit. 91 0.
($ 3691-23.) Sec, 10. Forfeiture of right to do business
Any corporation organized under this act, or doing business in this state hereunder, which shall fail or refuse to file a statement or report, shall forfeit its right to do business under this act, which forfeiture the superintendent shall enforce bý proceedings in quo warranto; and it is hereby made the duty of the attorneygeneral of the state to institute such proceedings upon his request in writing. 91 O. L. 415.
(3 3691-24.) Sec. II.
Sec. II. Examination by superintendent of
insuranceAny such corporation, association or company shall be subject to examination by the superintendent of insurance of this state under and pursuant to the provisions of the laws of this state relative to the examination of life insurance companies. 91 0.
($ 3691-25.) Sec. I. Licensing of companies organized for
insuring against burglary, robbery, etc.Any insurance company organized or incorporated on the mutual plan under the laws of this state (or any other state) for the purpose of insuring against loss or damage from burglary and robbery or attempt thereat, and securing against the loss of money and securities in course of transportation shall be authorized, admitted and licensed to do business in this state, as hereinafter provided. 94 O. L. 350.
(S 3691-26.) Sec, 2. Requisites for beginning business
Before any such company shall be authorized to transact business in this state, except to solicit and receive applications for insurance and portions and premiums thereof, as hereinafter provided, it shall have in force five hundred or more policies, on which premiums shall have been paid in cash, or shall be evidence by the written contracts or the policy holders, on which not less than one-fifth of the amount shall have been paid in cash, the cash and contracts for premiums shall amount in the aggregate to a sum not less than one hundred thousand dollars. The premium contracts so held shall constitute a part of the valid assets of the company.
94 O. L.
($ 3691-27.) Sec. 3. Copy of charter and statement to be
filed; what statement shall contain-Foreign company to file last annual report; agent forbidden to transact business when company's reserve is impaired-Agent to procure certificate from superintendent of
insuranceAnd every such company, association or partnership shall also file a certified copy of its charter, articles of incorporation or deed of settlement, together with a statement under the oath of the president or vice-president and secretary of the company for which he or they may act, stating the name of the company and the place where located, a detailed statement of its assets, showing the number of policy holders, aggregate amount of premium contracts, the amount of cash on hand, in bank, or in the hands of agents, the amount of real estate, and how the same is encumbered by mortgage, the number of shares of stock of every kind owned by the company, the par and market value of the same, amount loaned on bond and mortgage, the amount loaned on other securities, stating the kind and amount loaned on each, and the es. timated value of the whole amount of such securities, and other assets or property of the company; also stating the indebtedness of the company, the amount of losses adjusted and unpaid, the amount incurred and in process of adjustment, the amount resisted by the company as illegal and fraudulent, and all other claims existing against the company; and for a company organized under the laws of any other state, a copy of the last annual report, if any, made under any law of the state by which such company was incorporated, and no agent shall be allowed to transact business for any such company who [se] reinsurance reserve, as required by this act, as [is] impaired to the extent of twenty per cent thereof, while such deficiency shall continue. Nor shall it be lawful for any agent or agents to act for any company or companies referred to in this act, directly or indirectly, in taking risks or transacting the business of burglary and robbery insurance or the insurance of the safe shipment of money and securities, without procuring from the superintendent of insurance a certificate of authority, stating that such company has complied with all the requirements of this act which apply to such companies, and as to companies organized under the laws of any other state there shall be added the name of the attorney appointed to act for the company. 94 O. L. 350.
(§ 3691-28.) Sec. 4. Character of business to be con.
ducted in this state-Reinsurance re
serveAny company organized, admitted, and licensed to transact business in this state under this act shall confine its line of business to that stated in the first section of this act, and shall confine its business in this state to banks, bankers, loan companies, trust companies, city and county treasurers, and shall not issue any policy or policies to [any] person, firm, or corporation in this state other than banks, bankers, loan companies, trust companies, city and county treasurers. Every such company shall set aside a reinsurance reserve of fifty per cent of its premiums for unexpired term, whether collected in cash or represented by the obligations of the policy holders, as written in its policies. 94 O.
($ 3691-29.) Sec. 5. Liability of policy holders
Policy holders of any company organized and admitted to transact business in this state under this act, shall be held liable to