bonds, or other evidences of indebtedness, as above mentioned, in which the accumulations or surplus money over and above the capital stock of any insurance company may be loaned or invested, shall be at all times during the continuance of such loan at least twenty per cent more than the sum loaned thereon; and if any investment or loan be made in a manner not authorized by this chapter, the directors who make or authorize the same shall be personally liable to the stockholders for any loss occasioned thereby; but insurance companies organized under the laws of this State, now doing business, shall not be compelled to change any investment made in accordance with the acts heretofore passed regulating such companies.” LICENSED BROKERS-Law of 1904: "The Superintendent of Insurance may issue licenses to citizens of this State, subject to revocation at any time, permitting the person named therein to procure fire, lightning, explosion, tornado or marine insurance, on property in this State, in insurance companies not authorized to transact business in this State. Each such license shall expire on the thirty-first day of March next after the year in which it is issued, and may be then renewed. For each such license and renewal, the Superintendent of Insurance shall collect $10, and such licenses and renewals shall be filed with the recorder and published annually in the county where such agent's office is located in the same manner as is required of certificates of compliance by Sec. 284, Revised Statutes. Before the person named in such license shall procure any insurance in such companies on any such property, he shall in every case file with the Superintendent of Insurance his own affidavit and the affidavit of the person, or of the president or secretary of the corporation, owning the property on which the insurance is proposed to be placed, which shall have force and effect one year only from the date thereof, that such owner is unable to procure from companies authorized to do business in this State the amount of insurance necessary to protect said property. Each person so licensed shall keep a separate account of the business done under his license, a certified copy of which account he shall forthwith, on procuring or issuing any such policy, file with the Superintendent of Insurance, showing the amount of such insurance, the name of the owner, brief description and location of the property, gross premium charged, name of company in which the insurance is placed, date of policy and term thereof, and also a report in the same detail of all such policies canceled and gross return premiums thereon. Before receiving such license such persons shall execute and deliver to the Superintendent of Insurance a bond in the penal sum of $2000, payable to the State, with at least two sureties, or a duly licensed surety company, approved by the Superintendent, and conditioned that the licensee will faithfully comply with all the requirements of this law, and will annually file with the Superintendent of Insurance, in January, a sworn statement of the gross premiums charged for insurance procured or placed, and the gross premiums on such insurance canceled under such license during the year ending on

the thirty-first day of December last preceding, and at the time of filing such statement will pay to the Superintendent of Insurance an amount equal to five per cent of the balance of such gross premiums after deducting such return premiums so reported." Residents of Ohio securing insurance from unlicensed companies or Lloyds, must report such transactions within 10 days after July 1, and pay a tax of 5 per cent. on the premiums paid for such insurance, under penalty of $100 to $500 for each offense; but this does not apply to members of inter-insurance associations made up of residents of Ohio.

LIMIT ON A SINGLE RISK-No provision.

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LLOYDS-Sec. 289. "The provisions of this chapter shall apply to individuals and parties, and to all companies and associations, whether incorporated or not, now or hereafter engaged in the business of insurance; and it is unlaw ful for any company, corporation or association, whether organized in this State or elsewhere, either directly or indirectly, to engage in the business of insurance, or to enter into any contracts substantially amounting to insurance, or in any manner to aid therein, in this State, or to engage in the business of guaranteeing against liability, loss or damage, unless the same is expressly authorized by the statutes of this State, and such statutes and all laws regulating the same and applicable thereto, have been com*" Sec. 3656. "* * plied with. * * Nor shall any company, association or partnership organized under the laws of any other State, take risks or transact business of insurance in this State, directly or indirectly, unless possessed of the amount of actual capital required by similar companies formed under the provisions of this chapter, nor unless the capital stock of the company is paid up and invested as required by the laws. of the State where it was organized. * MISCELLANEOUS-Sec. 3691. "The cellar and foundation walls shall not be included or considered a part of the building or structure in settling losses, anything in the application or policy to the contrary notwithstanding." Concerning change of venue, see "Anti-Compact."

MUTUAL COMPANIES-Foreign mutual companies must have actual cash assets of the same amount and description as is required of mutual fire insurance companies of Ohio after organization. Domestic mutual companies must have subscriptions for at least $500,000 of insurance on 200 risks, with $10,000 of cash premiums paid thereon by the subscribers, and each subscriber must assume a contingent liability of not less than three nor more than five annual premiums. Not less than ten residents of Ohio, or of an adjoining State, owning property in Ohio, may form a mutual fire association for their mutual protection, and such associations are exempt from the foregoing requirement. Mutual companies having not less than $200,000 of net assets may issue policies on the stock plan. All buildings insured by a mutual company are pledged to the company to secure the amount of the premium note or contingent liability.

PRELIMINARY DOCUMENTS-Company must file with the Superin

tendent certified copy of its charter and by-laws, and a verified statemen showing its financial condition; copies of policy contracts and specimens of literature; copy of certificate of authority issued by its own State Depart ment; a waiver authorizing any agent to accept service of legal process, and an appointment of at least one agent; companies of foreign governments must also file a copy of its home office statement. PUBLICATION-Sec. 284 provides that the Superintendent of Insurance is required to annually issue to each insurance company and association which he finds should be authorized to do business in this State, upon its complying with the law and filing its annual statement, or as soon thereafter as the same can be done, his certificate reciting that it has in all respects complied with the laws of this State applicable to it and also the actual amount of paid-up capital, the aggregate amount of its assets and liabilities, together with its aggregate income and expenditures for the preceding year, as shown by the annual statement of the company or association for that year, filed with and accepted by the Superintendent, which such certificate (as to fire companies) shall expire on March 1 next, after the date of its issue. Each such company and association not incorporated under the laws of the State of Ohio, shall file a copy of such certificate, duly certified by the Superintendent, with the recorder of each county in which it has an agency, before doing business in such county under authority of such certificate; and for filing same the recorder is entitled to a fee of 10 cents. Each such company and association not incorporated under the laws of the State of Ohio shall at least once a year, and before October 1 of each year, publish such certificate in every county where it has an agency, in a newspaper published and of general circulation in the county and having the certificate of the Superintendent of eligibility to make such publication. Every such company and association not incorporated under the laws of the State of Ohio is required to file with the Superintendent of Insurance, on or before October 1 of each year, its report in writing under oath of its president or secretary, setting forth the counties in which such publications were made, the counties in which it had agencies at the time of such publications and the names of the newspapers in which the publications were made, and shall attach as an exhibit thereto a copy of the certificate so published. The charge of the newspapers for such publication is not made with or collected by the Superintendent of Insur ance, but is attended to directly by the companies themselves. RECIPROCAL LAW-Sec. 282. "* * When by the laws of any other State or nation, any taxes, fines, penalties, license fees, deposits of money, or of securities, certificates or other obligations or prohibitions are imposed on insurance companies of this State, doing business in such State or nation, or upon their agents therein, so long as such laws continue in force, the same obligations and prohibitions, of whatever kind, shall be imposed upon all insurance companies of such other State or nation, doing business within this State, and upon their agents here."

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REINSURANCE-Sec. 2745a.

And no fire insurance company or association authorized to do business in this State shall reinsure, dispose of, cede, pool, divide, or in any manner or form whatsoever, reduce any portion of its risk or liability, covering property located in whole or in part in this State, in or with any company, association, person or persons whatever, incorporated or otherwise, not authorized by law to do the business of fire insurance in this State, or to reinsure, or assume as a reinsuring company or otherwise, in any manner or form whatsoever, the whole or any part of any risk or liability, covering property located in whole or in part in this State, of or for any insurance company, association, person or persons, incorporated or otherwise, not authorized by law to do the business of fire insurance in this State. It shall be the duty of the Superintendent of Insurance of this State annually, and at such times as he may see fit, to require the president or other chief officer of each company or association, to file a statement under oath, showing the names of each fire insurance company, or association, with whom or for whom any liability for insurance or property located in whole or in part in this State has been reinsured, disposed of, ceded, pooled, divided, or in any manner or form whatsoever reduced or increased." REINSURANCE RESERVE-Fifty per cent of the whole amount of premiums on unexpired risks and policies running one year or less from date of policy, and a pro rata amount of all premiums on unexpired risks and policies running more than one year from date of policy. (Full premiums on unexpired ocean marine risks).

RESIDENT AGENTS—Sec. 2745a. "It shall be unlawful for any insurance company or agent legally authorized to transact insurance business in the State of Ohio to write, place or cause to be written or placed, any policy, renewal of policy, contract for insurance upon property situated or located in the State of Ohio, except through a legally authorized agent in the State of Ohio, who shall countersign all policies so issued and enter the payment of the premium upon his record, and the writing, renewal, placing or causing to be written or placed any policy of insurance in any other manner or form, is hereby declared to be a violation of the law providing for the payment of taxes by foreign insurance companies doing business in the State of Ohio, as set out and provided in Sec. 2745 of an act passed by the General Assembly of the State of Ohio, April 12, 1889." Penalty for violation, revocation of license for ninety days, and until all taxes, penalties and expenses have been paid, and the company made complete recompliance with the law.

SEMI-ANNUAL STATEMENTS-None required.

STANDARD POLICY-Ohio has no standard policy form.

TAXES The Superintendent of Insurance shall, in the month of November,

annually, collect from each non-Ohio company an amount equal to two and one-half per cent of the balance of gross premiums of such company, after deducting return premiums paid for cancellations and considerations re

ceived from other companies for reinsurance in Ohio, as shown by its nex preceding annual statement. Also, as to domestic and foreign companie one-half of one per cent on gross premiums to cover the expense of the fi marshal's office. No credit is allowed of amounts paid for reinsurances other companies. Reciprocal provision. Penalty for default in payme of taxes after a statement thereof has been made and mailed to such con pany, suspension of authority. Sec. 2745, as amended in 1902, provide that: "If the laws of any other State, Territory or nation authoriz charges for the privilege of doing business therein, or taxes against an insurance companies, which are, or may be organized in this State, ex ceeding the charges herein provided, the same shall be charged again all insurance companies of such State, Territory or nation, doing busines in this State, in place of the charges herein provided." See "Reciproca Law."

TAX STATEMENTS-Other State and foreign companies are required i their annual statements to set forth the gross amount of premiums receive in Ohio during the preceding calendar year without deductions for com missions, return premiums, or considerations paid for reinsurance or an deductions whatever; and shall also therein set forth in separate item return premiums paid for cancellations and also considerations receive from other companies for reinsurances in Ohio during such year. Penalt for making false statement or refusing to pay tax, revocation of license. VALUED POLICY-Sec. 3643. "Any person, company or association here after insuring any building or structure against loss or damage by fire o lightning, by the renewal of a policy heretofore issued, or otherwise, shal cause such building or structure to be examined by an agent of the insurer and a full description thereof to be made, and the insurable value thereo to be fixed by such agent; in the absence of any change increasing the ris without the consent of the insurers, and also of intentional fraud on the par of the insured, in case of total loss, the whole amount mentioned in th policy or renewal upon which the insurers receive a premium shall be paid and in case of a partial loss the full amount of the partial loss shall be paid and in case there are two or more policies upon the property, each policy shall contribute to the payment of the whole or the partial loss in proportion to the amount of insurance mentioned in each policy; but in no case shall the insurer be required to pay more than the amount mentioned in its policy.”

COUNTY TAXES AND FEES.

None.

None.

MUNICIPAL TAXES AND FEES.

CINCINNATI-Salvage Corps assessment, 134 per cent.