person of such corporation or company. The agent so appointed and designated shall be deemed in law a general agent, and must be the principal agent or chief manager of the business of such corporation or company in this state. Any such foreign corporation or company shall, as a further condition precedent to the transaction of insurance business in this state, and in consideration of the privilege to transact such insurance business in this state, make and file with the insurance commissioner an agreement or stipulation, executed by the proper authorities of such corporation or company in form and substance as follows: The (giving name of corporation or company) does hereby stipulate and agree, that in consideration of the permission granted by the state of California to it to transact insurance business in this state, that if at any time said corporation or company shall be without an agent in said state, on whom summons, or other legal process may be served, service of such summons or other legal process may be made upon the insurance commissioner, such service upon the commissioner to have the same force and effect as if made upon the corporation or company. Whenever such service of summons or other legal process shall be made upon the insurance commissioner, he must, within ten days thereafter, transmit by mail, postage paid, a copy of such summons or other legal process to the company or corporation, addressed to the president or secretary thereof, at its home or principal office. Such copy must be certified by the commissioner, under his hand and official seal, and the sending of such copy by the said commissioner shall be a necessary part of the service of summons or other legal process. Fines for Failure to File Reports. Pol. C. Sec. 617. The commissioner must collect the sum of one hundred dollars from any company or corporation engaged in the business of insurance in this state, for a failure to make and file in his office within the time prescribed by law, the statements and stipulations required by sections six hundred and ten, six hundred and eleven, six hundred and twelve, six hundred and thirteen, and six hundred and sixteen of this code, and an additional penalty of two hundred dollars for each and every month or fractional part of a month thereafter that such company or corporation continues to transact the business of insurance until such statements and stipulations are filed; and for that purpose suits may be instituted by the insurance commissioner, in the name of the people of the state of California, in any court of competent jurisdiction. And for all lawful expenses incurred under this section or any other section of this code, in the prosecution of any suit or proceeding for the enforcement of the insurance laws of this state, the insurance commissioner must present bills duly certified by him, with the vouchers to the state board of examiners, who must allow the same and direct payment thereof to be made; and the controller shall draw war. rants therefor on the treasurer for the payment of the same to the insurance commissioner (in addition to the ordinary contingent expenses) out of the general fund. Retaliatory Provisions. Pol. C. Sec. 622. When by the laws of any other state or country, any taxes, fines, penalties, licenses, fees, deposits of money, or of securities, or other obligations, or prohibitions, are imposed on insurance companies of this state, doing business in such other state or country, or upon their agents therein, in excess of such taxes, fines, penalties, licenses, fees, deposits of securities or other obligations or prohibitions, imposed upon insurance companies of such other state or country, so long as such laws continue in force, the same obligations and prohibitions of whatsoever kind must be imposed upon insurance com. panies of such other state or country doing business in this state. And whenever under this section any deposit of security shall be made in this state, such deposit shall be made in stocks or bonds of the United States government, or in those of the state of California, or in interestbearing bonds of any of the counties or incorporated cities and towns of the state of California not in default for interest on such bonds, which said securities must be estimated at not exceeding their par value nor their market value. Bond from Agents of Foreign Insurance Corporations. Pol. C. Sec. 623. The commissioner must require every company, association, or individual, not incorporated under the laws of this state, and proposing to transact insurance business by agent or agents in this state, before commencing such business to file in his office a bond, to be signed by the person or firm, officer or agent, as principal, with two sureties, to be approved by the commissioner, in the penal sum of two thousand dollars for each insurance company, association, firm, or individual for whose account it is proposed to collect premiums of insurance in this state, the conditions of such bonus to be as follows: 1. That the person or firm, agent, or officer named therein, acting on behalf of the company, association, firm, or individual named therein, will pay to the treasurer of the county, or city and county, in which the principal office of the agency is located, such sum per quarter, quarterly in advance, for a license to transact an insurance business, or such oner license as may be imposed by law, so long as the agency remains in the hands of the person or firm, officer, or agent named as principal in the bond. 2. That the person or firm, officer, or agent will pay to the state all stamp or other duties on the gross amounts insured by them, in the manner and at the time prescribed by law, inclusive of renewals on existing policies. 3. That the person, firm, agent, or corporation named therein, will conform to all the provisions of the revenue and other laws made to govern them. Pol. C. Sec. 624. Whenever the same person, firm, officer, or agent desires to conect premiums of insurance for more than one company, association, or individual, not incorporated under the laws of this state, the commissioner must require a separate bond, as provided in the preceding section, for each company or association so represented by such person, firm, officer, or agent. Charter to be Filed. Political Code 607, p. 510, supra. Agent's Power of Attorney to be Filed. Pol C. Sec. 608. He [insurance commissioner] must require from every insurance association not formed under the laws of this state, or not incorporated, carrying on the business of insurance by an agent: 1. A certified or verified power of attorney, or written authority to such agent; 2. A notice of any change of agents or in the powers of any agent, within ninety days after such change, and a certified copy of any new or further power of attorney or authority before the same is acted under; 3. When by any law, agreement, or other writing, any change is made in respect to any of the particulars set forth in the certificate on file, a certified copy of such law, agreement, or other writing, verified respectively as certiucates are required to be verified; also, a notice of such change before the same is acted under. FIRE AND MARINE INSURANCE COMPANIES. Amount of Capital Stock Required. Powers in General. Single Risk-Amount Limited. Powers of Underwriter's Fire Patrol. Capital Stock to be Paid Up. Certificate Required. Dividends-From What Made. Funds for Underwriters' Raised. Fire Patrol-How Annual Valuation of Policies of Life Insurance. Amount of Capital Stock Required. Civil Code 419, p. 500, supra. Powers in General. C. C. Sec. 426. Every corporation formed for fire or marine insurance, or both, may make insurance on all insurable interests within the scope of its articles of incorporation, and may cause itself to be reinsured. Single Risk-Amount Limited. C. C. Sec. 428. Fire and marine insurance corporations must never take, on any one risk, whether it is a marine insurance or an insurance against fire, a sum exceeding one-tenth part of their capital actually paid in, and intact at the time of taking such risk, without at once reinsuring the excess above one-tenth. Powers of Underwriters' Fire Patrol. C. C. Sec. 453a. Any corporation of underwriters heretofore organized and now existing, or which may be hereafter organized under the laws of this state, for the purpose of discovering and preventing fires and of saving property and human life from conflagration, and doing business within any municipal corporation of this state, has power, at its own proper cost and expense, to maintain a corps of men, with proper officers, equipped with the necessary machinery and ap |