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FEES TO BE PAID TO COMMISSIONER.

Sec. 605, Pol. C. The commissioner must require in advance, in United States gold coin the following fees:

1. For filing the articles of incorporation, or certified copy of articles, or other certificate required to be filed in his office, thirty dollars;

2. For filing the annual statement required to be filed, twenty dollars;

3. For filing any other papers required by this chapter to be filed, five dollars;

4. For furnishing copies of papers filed in his office, twenty cents per folio;

5. For certifying copies, one dollar each;

6. For each certificate issued as provided in section 619, the sum of five dollars. En. March 12, 1872.

Legislative History.

This and the next section are based on section 13 of the insurance commissioner's act of 1868, page 340.

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ASSESSMENTS FOR DEFICIENCY IN SALARY AND EXPENSES. Sec. 606, Pol. C. If the salary of the commissioner and the expenses of his office exceeds the fees and charges collected by him, such excess must be annually assessed by the commissioner upon all persons or incorporations engaged in the business of insurance in this state, and they are severally liable therefor, pro rata, according to the amount of premiums received or receivable from risks taken in this state, respectively, during the year ending on the thirty-first day of December next preceding the assessment. The commissioner must collect all fees and assessments, and pay monthly into the state treasury whatever amounts may be received and collected by him. He may bring actions in the name of the people of this state to enforce such collection; and any person liable for any assessment who neglects or refuses to pay the amount of such assessment within ten days after demand thereof in writing by the insurance commissioner, becomes liable to pay double the amount of such assessment, and any judgment recovered in such case must be for double amount and costs. En. March 12, 1872.

Legislative History.

See section 605, Pol. C., supra.

Section Cited.

People v. Wilson. 117 Cal. 242, 49 Pac. 135.

Annotation.

Liability of Commissioner for Fees.-An insurance commissioner has no authority to loan the moneys of the state, nor to deposit the same as a general deposit in a bank, although such deposit be made by him as an agent of the state, and not upon his individual account; and he is not excused from liability for such fees by reason of the failure of the bank. (People v. Wilson, 117 Cal. 242, 49 Pac. 135.)

CERTAIN CERTIFICATES TO BE FILED IN HIS OFFICE.

Sec. 607, Pol. C. The commissioner must cause every corporation or person, before engaging in the business of insurance, to file in his office as follows:

1. If incorporated under the laws of this state, a copy of the articles of incorporation or statement of any increase or diminution of the capital stock, certified by the Secretary of State to be a copy of that which is filed in his office;

2. If incorporated under the laws of any other state or country, a copy of the articles of incorporation, if organized or formed under any law requiring articles to be filed, duly certified by the officer having the custody of such articles; or if not so organized, a copy of the law, charter, or deed of settlement under which the deed of organization is made, duly certified by the proper custodian thereof, or proved by affidavit to be a copy; also, a certificate under the hand and seal of the proper officer of such state or country having supervision of insurance business therein, that such corporation or company is organized under the laws of such state or country, with the amount of capital stock or assets required by this chapter;

3. If not incorporated, a certificate setting forth the nature and character of the business, the location of the principal office, the names of the persons and of those composing the association, the amount of actual capital employed or to be employed therein, and the names of all officers and persons by whom the business is or may be managed. The certificate must be verified by the affiCorporation Laws-34

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davit of the chief officer, secretary, agent, or manager of the association; and if there are any written articles of agreement or association, a copy thereof must accompany such certificates; provided, however, when the number of persons composing such association shall exceed ten, such certificate need not state the names of any greater number of persons than ten, who shall be the largest shareholders; and if such association of persons be formed out of the United States, the said certificate need not contain the names of any officers or managers other than those resident within the United States, nor any statement of capital not employed within the United States, and the affidavit may be made by the chief executive officer or manager in the United States. En. March 12, 1872; Amd. 1887, 8.

Legislative History.

The basis of this section is section 2 of the insurance act of 1868, page 324. The amendment of 1887 added the proviso.

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SAME.

Sec. 608, Pol. C. He 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 certificates are required to be verified; also, a notice of such change before the same is acted under. En. March 12, 1872.

Legislative History.

The basis of this section is section 3 of the insurance act of 1868, page 324.

MAY DETERMINE NAME OF NEW CORPORATION.

Sec. 609, Pol. C. The commissioner must require the name under which any corporation hereafter proposes to be formed or

organized under the laws of this state for the transaction of insurance business, to be submitted to him before the commencement of such business; and he may reject any name or title so submitted when the same is an interference with or too similar to one already appropriated, or likely to mislead the public in any respect; and in such case a name not liable to such objection must be chosen. En. March 12, 1872.

Legislative History.

The basis of this section is section 11 of the insurance commissioner's act of 1868, page 339.

STATEMENTS TO BE MADE BY INSURANCE COMPANIES. Sec. 610, Pol. C. The commissioner must require from every corporation or person doing the business of insurance in this state, statements verified as follows:

1. If it be made by a corporation organized under the laws of this state, by the oaths of the president and secretary, or the vice-president and secretary thereof.

2. If it be made by an individual or firm, by the oath of such individual or a member of the firm.

3. If made by a foreign insurance company or person, by the oath of the principal executive officer thereof, or manager residing within the United States. En. March 12, 1872. Amd. 1873-74, 10; 1887, 9.

Legislative History.

The basis of this section is section 5 of the insurance act of 1868, page 325. The original had at the end of subdivision 3, instead of "or manager," etc., the following: "Or by the oath of a duly authorized agent thereof residing in this state." The amendment of 1873-74 omitted provision for an oath by a resident agent of a foreign corporation.

STATEMENT, CONTENTS, PUBLICATION AND FILING.

Sec. 611, Pol. C. All corporations or persons doing the business of insurance in this state must make and file with the insurance commissioner, on or before the fifteenth day of January of each year, a statement, verified by the oath of the principal executive officer or manager residing in this state, showing the business done in this state during the year ending the thirtyfirst day of December then next preceding. They also shall

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make and file with said commissioner, at the times hereinafter mentioned, further statements, which must exhibit the condition and affairs of every such corporation, person, firm, or association, on the thirty-first day of December then next preceding, which statements, as adjusted by the 'commissioner upon a proper examination of the same, must be published by such corporation, person, firm, or association, daily, for the period of one week, in some newspaper published in the city where the principal office in this state is located. Such statement, if made by a person or corporation organized under the laws of this state, must be filed with the commissioner on or before the first day of February of each year. If made by a person or persons residing in, or corporation organized under the laws of any other of the states or territories of the United States, it must be filed on or before the tenth day of March of each year. And if made by a person or corporation organized under the laws of any country foreign to the United States, it must be filed on or before the first day of May of each year. En. March 12, En. March 12, 1872. Amd. 1873-74, 10; 1877-78, 15; 1887, 9.

Legislative History.

The previous requirement as to statements are not pertinent to the present conduct of insurance business, and are omitted because of their length.

SHOWING TO BE MADE IN.

Sec. 612, Pol. C. Such statement, if made by fire, marine, and inland insurance companies, or by companies organized under section four hundred and twenty of the Civil Code, must show:

First-The amount of capital stock of said company. Second-The property or assets held by the company, specifying:

1. The value of real estate held by the company;

2. The amount of cash on hand and deposited in banks to the credit of the company, specifying the same;

3. The amount of cash in the hands of agents, and in course of transmission;

4. The amount of loans secured by bonds and mortgages, constituting the first lien on real estate, on which there is less than one year's interest due or owing;

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