must pay a fee of $5, but one such license authorizes the solicitation of all kinds of insurance other than fire and marine. Examination of companies, actual expenses.

Taxes.-A tax of two per cent on premiums less amount paid for losses must be paid to Insurance Commissioner.

Miscellaneous Companies.-All companies must file with the Insurance Commissioner certified copies of articles of incorporation or charter, power of attorney and certificate showing a paid-up and unimpaired capital or net assets of $100,000. All companies pay a tax of two per cent on net premiums collected. These are paid to the Insurance Commissioner. A sworn statement of all premiums collected and losses paid is required to be made to the Insurance Commissioner by February 15 of each year. Filing annual statement of Washington business, $10. Surety companies must have unimpaired capital or net assets amounting to $350,000.

WEST VIRGINIA.

SUPERVISING OFFICER, ARNOLD C. SCHERR, STATE AUDITOR, CHARLESTON. Preliminary Documents.—Company must file with the Auditor on or before March L each year, a verified statement setting forth the condition of the company at the close of the preceding year.

Attorney. Some resident of the State must be appointed attorney to accept service of legal process.

ties.

Funds.-Company must possess at least $100,000 capital invested in approved securi

Annual Statements.— Annual statements must be filed in the month of January showing the condition of the company December 31 preceding.

Agents. Companies must procure a certificate of authority from the Auditor for each agent, a copy of which is to be filed in the office of the Circuit Court in each county in which the agent does business, and must be published in some newspaper of general circulation published in the State. Certificates renewable annually on January 1, or within sixty days thereafter, to be filed and published as above. A law passed in February, 1901, requires companies to appoint a resident agent who shall countersign all policies issued in the State and receive all commissions thereon.

Examinations.-The Auditor is authorized to examine into the affairs of any company doing business in the State whenever he shall deem it to be necessary; the expenses of such examinations to be borne by the companies.

Fees. For filing annual statement, $10; issuing certificate of authority, $5. Taxes.-Companies are required at the time of filing annual statement to pay into the State Treasury a tax of one and one-half mills on each dollar of risks written in the State during the previous year.

Penalties. Any company or agent failing to make the return or pay the taxes or fees as required, or who shall make a false return, is liable to a fine of not less than $100 nor more than $1000 for each offense. For transacting business for an unauthorized company a penalty of not less $20 nor more than $200 for each offense is provided. Any violation of the anti-rebate law constitutes a misdemeanor, and in addition to the penalty provided for such, the certificate of authority granted the offender shall be revoked and no other issued him for three years.

ADDITIONAL NOTES FROM THE STATUTES.

Discrimination.-Discrimination between insurants of the same class and equal expectation of life, as to rates, benefits or conditions of contract, is prohibited. Penalty, a fine not less than $100 nor more than $500.

Miscellaneous Companies.—Amount of capital must be satisfactory to Auditor, and a tax of one-tenth of one mill on each dollar of gross risks written is required.

WISCONSIN.

SUPERVISING OFFICER, ZENO M. HOST, COMMISSIONER OF INSURANCE, MADISON. Preliminary Documents.- Company must file a copy of its charter with the Commissioner and a verified statement showing its condition, and a copy of its last annual report. Attorney.-Company must appoint the Commissioner of Insurance attorney to accept service of legal process. Service may also be made upon any agent of the company in the State.

Funds.-Company must possess at least $100,000 invested in securities approved by the Commissioner.

Valuation of Policies.-The basis of valuation is the American Experience Table of Mortality, with interest at four and one-half per cent.

Annual Statements.— Annual statements must be filed on or before March 1, showing the condition of the company December 31 preceding.

Agents.-Agents must procure from the Commissioner a license to be renewed annually on March 1.

Examinations.-The Insurance Commissioner may examine any company doing business in the State whenever he shall deem it expedient to do so.

Fees. For filing certified copy of charter, $25; filing annual statement, $25; license to agents, $1; copies of papers on file, 15 cents per folio; certifying same, 50 cents; valuation of policies, I cent for each $1000 of insurance; examination of companies, reasonable compensation fixed by the Commissioner and necessary expenses not to exceed $5 per day and 5 cents per mile, each way; other fees regulated by reciprocal provision.

Taxes.-Companies required to pay $300 license fee in Wisconsin. Company doing

an accident business must pay two per cent on premium receipts.

Penalties.-Agent or company doing business without having first obtained a license is liable to a fine of not less than $50 nor more than $500 for each offense. For willfully making false statements, a fine not exceeding $500 nor less than $50 is imposed. For violation of the anti-rebate law, license to be revoked for three years.

ADDITIONAL NOTES FROM THE STATUTES.

Discrimination.-Discrimination between insurants of the same class and equal expectation of life, as to rates, benefits or conditions of contract is prohibited. Penalty, revocation of license.

Miscellaneous Companies.-Accident companies must be possessed of a cash capital of $100,000 and maintain a deposit with the Insurance Department of the State where organized of an equal amount; reinsurance reserve of such companies, fifty per cent of the gross premiums of all policies in force. Companies must file an annual statement during the month of January and pay taxes equal to the two per cent upon the gross premiums received in the State.

WYOMING.

SUPERVISING OFFICER, LEROY GRANT, AUDITor and Ex-OffiICIO INSURANCE COMMISSIONER, CHEYENNE.

Preliminary Documents.-Company must file a certified copy of its charter and a verified statement, showing its condition, and, on obtaining certificate from the Auditor, publish the same in two newspapers of general circulation in the State, one of which is published at the capital.

Attorney. The State Auditor must be appointed attorney for the company to accept service of legal process.

Funds. The law declares that every company desiring to transact business in the State shall possess an actual paid-up capital of not less than $300,000. Mutual life companies must have surplus of at least $300,000.

Deposit. Companies of foreign countries required to have a deposit of $100,000 in some one of the States or Territories.

Annual Statements.-Annual statement must be filed with the Auditor within sixty days from January 1, showing the condition of the company December 31 preceding.

Agents.-Agents must procure a certificate of authority from the Auditor. All advertisements must set forth the location of the company, its actual paid-up capital and cash assets. All business must be done by resident agents.

Examinations.-The Insurance Commissioner is authorized to appoint one or more persons to examine into the affairs of any company doing business in this State whenever he shall deem it expedient, and he may publish the results of such examinations in one or more papers if he deems it for the best interests of the public to do so.

Fees. For filing application and issuing certificate, $50; filing annual statement, $25, for issuing certificates of authority to agents, $1; copies of papers on file, 15 cents per folio; certifying same, 50 cents; examination of companies, actual expenses incurred. A certificate of acceptance of State Constitution must be filed; fee, $2.50. Retaliatory provision.

Licenses. No provision. Law of 1891 prohibits discrimination in favor of individuals of the same class and age.

Taxes. A tax of two and one-half per cent of gross premiums is exacted, and a report of premiums collected must accompany the annual report.

Penalties. For doing business without complying with the law a fine of not less than $50 nor more than $1000, or imprisonment, or both, is imposed. Any violation of the anti-rebate law is made a misdemeanor and incurs a fine of $500 when the amount of insurance is $25,000 or less, and $500 for each additional $25,000.

Miscellaneous Companies.-Fidelity companies must comply with the laws relating to life insurance companies. Guaranty and surety companies must have fully paid up capital of at least $1,000,000. Special requirements for companies insuring live stock.

CANADA.

Supervising OFFICER, WILLIAM FITZGERALD, SUPERINTENDENT OF Insurance, OTTAWA.

Preliminary Documents.-Company must file certified copy of its charter and a statement showing its condition December 31 preceding, and power of attorney from the company to its chief agent in Canada.

Attorney. An agent of the company at its head office in Canada must be appointed to accept service of legal process.

Deposits. Companies are required to deposit $50,000 with the Minister of Finance, and to make additional deposits as required sufficient to equal the liabilities to policyholders in Canada, including matured claims and the full reserve or reinsurance value upon policies in force in Canada after deducting any claim the company has against such policies; or to place such sum in the hands of trustees in Canada for the benefit of Canadian policyholders, under a trust deed to be approved by the Minister.

Valuation of Policies.-Policies issued prior to January 1, 1900, are, until January 1, 1910, to be valued by Institute of Actuaries' H. M. Table of Mortality, with interest at four and one-half per cent; from January 1, 1910, to January 1, 1915, these policies are to be valued on said mortality table with interest at four per cent, and on and after said last-mentioned date with interest at three and one-half per cent. Policies issued subsequent to January 1, 1900, are to be valued on Institute of Actuaries' H. M. Table of Mortality with interest at three and one-half per cent.

Annual Statements.-Every company incorporated or legally formed elsewhere than in Canada, and licensed to do business in Canada, must file annually, on or before March 1, a statement of the Canadian business verified by the oath of the chief agent in Canada. and must file a statement of its general business verified by the oath of its president, vice

president or managing director and its secretary or actuary, within thirty days after it is required by law to be made to the government of the country in which the head office of the company is situate, or within thirty days after the submission of the same at the annual meeting of the shareholders or members of the company, whichever date first occurs; provided, however, that no such statement of general business need be deposited earlier than the 1st day of June, nor shall it be deposited later than the 30th day of June next following the date thereof. The annual statement of Canadian companies showing forth their Canadian and foreign business must be filed on or before March 1 in each year, showing their condition at the preceding 31st day of December; policies to be valued every five years.

Agents. No provision regarding agents.

Examinations.-The Superintendent shall visit the head office of each company in Canada at least once in every year, and when he deems it necessary to make a further examination of the affairs of any company and so reports to the Minister of Finance, the Minister is authorized in his discretion to instruct the Superintendent to visit the office of the company to examine its affairs, and the Minister may from time to time instruct the Superintendent to visit the head office of any company licensed in Canada and incorporated or legally formed elsewhere than in Canada and to examine into the general condition and affairs of such company at such head office outside of Canada.

Fees.-The expenses of the office of the Superintendent of Insurance to be paid by an assessment made pro rata upon the companies upon gross premiums received by them in Canada during the previous year. For valuation of policies, if in addition to the valuation of policies required to be made once in five years by the Superintendent, a further valuation is requested or required, a charge of three cents is made for each policy or bonus addition,

Licenses. Each company must obtain a license from the Minister of Finance, to be renewed on April 1 of each year; notice of the original license to be published in The Canada Gazette and one newspaper in the place where the chief agency of the company is established; publication to be continued for four weeks; like notice to be given for three calendar months when the company proposes to cease business in Canada. Taxes. No provision for taxation.

Penalties. For neglect to file annual statement, a penalty of $10 for each day during which the company is in default is provided. Any person acting in any manner in behalf of an unlicensed company incurs a penalty of not less than $20 nor more than $50 for the first offense, and for the second offense imprisonment without the option of a fine.

ASSESSMENT ASSOCIATIONS AND

FRATERNAL ORDERS.

The following brief synopses of the laws of the different States regarding the admission of assessment associations and fraternal orders will indicate the special requirements. For names of supervising officers see list of State officials.

ALABAMA.

The law of Alabama distinguishes between mutual aid associations and assessment life associations. Mutual aid, benefit and industrial companies or associations are defined as those issuing insurance against contingencies such as the birth or death of a child, upon marriage, death, sickness, or physical disability. The association's charter, together with the constitution, by-laws and certificate of membership or policy must be submitted to the Insurance Commissioner; a membership of 500 bona fide members must be maintained, and at least $1000 paid in as a benefit fund. Said fund may be in cash or satisfactory securities deposited with the Department. Annual reports to be filed by March 1. Tax, one per cent on net premiums and a license fee of $20; incorporated companies paying State property taxes are exempt from latter fee. The Insurance Commissioner shall act as attorney for service. The Insurance Commissioner has supervision of mutual aid and assessment life associations. Assessment companies must have 100 members and $250,000 insurance in force to procure a charter. A deposit of $5000 with the State is required upon receipt of charter, and $1000 thereafter for each million at risk up to $100,000. No policyholder can be held liable for losses or liabilities of an association by reason of his being a member thereof. Assessment companies of other States must have on deposit in the State where it was incorporated at least $100,000 for the benefit of all the policyholders. Annual statements must be filed on or before March 1, showing the condition of the company on December 31 preceding, and its transactions for the year. Fee, $101. The amount of every contingency insured against must be specifically stated in the policy.

Fraternal Orders.-Associations must file with the Insurance Commissioner copies of its charter, by-laws, certificate of membership, and must have at all times not less than 500 members, and at least $5000 as a benefit fund, to be kept within the State as a protection to resident members. Annual statements must be filed on or before March 1, showing the operations of the association during the preceding calendar year, and pay a tax of one per cent on net annual premiums received in the State in such year. The Insurance Commissioner or such person as he may designate shall act as attorney to accept legal process. Benefits paid or to be paid under certificates in associations of this class cannot be attached for debts or liabilities. The law exempts certain benefit societies, and like orders, and it is held by the State authorities that this exemption makes the law inoperative.

Few requirements are made of fraternal orders by this State. All that is required of them is that they furnish certificate showing full compliance with the laws of their home State and that they maintain in this State a lodge system with ritualistic form of work.

ARIZONA.

Associations may be formed for the purpose of paying to the nominee of any member a sum, upon the death of said member, not exceeding three dollars for each member of such association. No such association shall exceed in number 5000 person. Such association formed by filing a verified certificate in the office of the Recorder of the County in which the principal place of business in Arizona is situated, and filing a like certificate in the office of the Secretary of Arizona; such certificate shall state the general objects of the association, its principal place of business, and the names of the officers elected to hold office for the first three months, and shall be signed by the said officers and verified by at least three of them.

ARKANSAS.

Arkansas has no special laws relating to assessment associations, but every insurance company without capital, seeking to do business in the State, is required to execute a bond in the sum of $20,000 for the protection of policyholders, to be approved and filed with the Auditor of State.