mitted to transact business in the United States and having a deposit in some State in the United States. Penalty for violation a sum not exceed$5,000. REINSURANCE RESERVE-Sec. 47, Ins. Code. "In ascertaining its liabilities there shall be charged in addition to the capital stock and all outstanding claims a sum equal to the total unearned premium less unearned premium on amount reinsured on the policies in force computed on a pro rata basis." RESIDENT AGENTS—Sec. 26. "It shall be unlawful for any insurance company admitted to do business in this State to write, place, or cause to be written or placed, any policy of insurance covering risks on property located in this State except through or by a duly authorized licensed agent of such company residing and doing business in this State; provided, that where the insured calls at the principal office of the company and requests a policy, the risk may be covered and the policy procured through the duly authorized agent in the territory wherein risk is located." SEMI-ANNUAL STATEMENTS-None required. STANDARD POLICY-Sec. 56, Ins. Code. "No policy recognized except the New York standard with 'stock' or 'mutual' printed on face and filed on back." TAXES-Two per cent on gross premiums after deducting return premiums and reinsurance in admitted companies, payable to Corporation Commission, "which tax shall be payment in full of all demands of any and all taxes on said company Ins. Code.) * * * in the State of Arizona." (Sec. 21, TAX STATEMENTS-Must be filed on or before March 1 with annual state ment. (Sec. 21. Ins. Code.) VALUED POLICY-No provision. None. COUNTY TAXES AND FEES. MUNICIPAL TAXES AND FEES. FLORENCE-For each agent, $3 per quarter, payable January 1, April 1, July 1 and October 1. GLOBE-For each agent, for one company, $12.50; for any number of companies, $25. MESA-For each agent, $10, payable $2.50 per quarter. NOGALES-For each agent or firm, $2 per month, in advance. PHOENIX-For each company represented, $2, payable quarterly by each agent (May, August, November and February). PRESCOTT-For each agent, $24 per annum, payable quarterly. TEMPE For each agent, $5 per quarter, January, April, July and October. YUMA-For each company, $2.50, payable quarterly, January, April, July and October. STATE REQUIREMENTS. AGENTS DEFINED-Act 117 of 1895, Sec. 1. "Any person who shall hereafter solicit insurance or procure applications, shall be held to be soliciting agents of the insurance company or association issuing a policy on such application, or on a renewal thereof, anything in the application or policy to the contrary notwithstanding." Penalty for soliciting business for an unauthorized company, a fine of $500 for each month or fraction thereof during which such business was transacted. AGENTS' LICENSES-Agents must procure licenses from the Auditor, which expire March 1. Penalty for acting as agent, without license, or for unauthorized company, fine of not more than $500. Applications for licenses not required to be made by company officers. Each soliciting or selling member of a firm must hold a license. ANNUAL STATEMENTS-Must be filed within sixty days after January 1. Penalty for failure to transmit any statement required, fine of $100 for each day's neglect. Making false statement is a felony, punishable by imprisonment for three to ten years. Mutual company must file annual statement in February; if organized outside of Arkansas, must file statement within sixty days after January 1. ANTI-COINSURANCE-No provision. Valued policy law precludes use of coinsurance clauses in policies on buildings. ANTI-COMPACT-The Act of January 23, 1905, was a very drastic measure, and was extra-territorial in its application, prohibiting licensed companies from being members of any organization which fixed or maintained premium rates anywhere. This law was amended in 1907 by eliminating the provision which made the 1905 law extra-territorial in effect, so that the present law merely prohibits licensed companies fro mco-operating in regard to premium rates in Arkansas. Sec. 4, as amended in 1913, reads as follows: "No individual, company or corporation shall be subject to any of the penalties of this Act, unless such individual, company or corporation shall do within this State some act directly tending to carry into effect a conspiracy prohibited by this Act; and the purchase, sale, delivery or disposition of any article of commerce in a lawful manner within this State shall not be deemed an act done in pursuance of or for the purpose of carrying into effect any such conspiracy." Penalty for violation, from $250 to $5,000 for each day. Common expert allowed to inspect individual risks and advise premiums. See "Rate Schedule to Be Filed." Affidavit of compliance required annually. ANTI-DISCRIMINATION-No provision. ATTORNEY-The Auditor of State, or some other resident, must be ap pointed to accept service of legal process. CANCELLATION OF POLICY— No requirement as to notice to insured. CAPITAL REQUIRED-Subscribed, $100,000 or more; paid up, not less than $50,000. COMMISSIONS TO NON-RESIDENTS-Prohibited on Arkansas risks. DEPOSIT—Sec. 4124. “All fire, life and accident insurance companies, individual or corporation, now or hereafter doing business in this State, shall, in addition to the duties and requirements now prescribed by law, annually give a bond to the State of Arkansas with not less than three good and sufficient sureties, to be approved by the Auditor of State, in the sun of twenty thousand dollars, conditioned for the prompt payment of all claims arising and accruing to any policyholder issued by any such company, individual or corporation, upon the life or person or property of any citizen of the State, and such bond shall be annually renewed; provided nothing in this act shall be construed as applying to fraternal orders insuring the lives of their members." Penalty for doing business without giving bond, fine of $20 to $100. Domestic mutual companies must file bonds for $15,000; and such companies filing an additional bond for $10,000 may issue non-assessable policies. Act of May 13, 1905. Sec. 4. "All foreign mutual fire insurance companies authorized. to do business in this State shall annually give a qualified indemnity bond to the State of Arkansas with not less than three good and sufficient sureties, or with a surety, trust, or indemnity company authorized to do business in this State, as surety, to be approved by the Auditor of the State, in the sum of $20,000, conditioned for the prompt payment of all claims arising and accruing to any person during the term of said bond by virtue of any policy issued by any such company upon any property situated in the State, and said bond shall be in full force and effect during the lifetime of any policy issued by said company. Not less than two of the sureties on the aforesaid bond shall be residents of this State, and said resident bondsmen shall own property in this State subject to execution equal in value to the amount named in the bond. It shall be the duty of the Auditor of State to require any such insurance company to file a new bond as herein provided at any time when it shall appear that such bond is not sufficient or that the amount thereof has been exhausted by judgment or that the sureties on same have died or become insolvent." Sec. 5. "All such companies shall comply with the provisions of Secs. 4336, 4338, 4344 and 4346 of Kirby's Digest of the Statutes of the State of Arkansas not inconsistent with this act." DOMESTIC COMPANIES-No special provisions. EXAMINATIONS-May be made whenever the Auditor may deem it necessary. FEES-For filing certified copy of charter, $15; for filing annual statement or certificate of other State Commissioner, in lieu thereof, $10; for certificate of authority to transact business, $2; for publication of annual statement or other publication required by the insurance laws of this State, or for official examination of companies in person or by attorney, as provided by law, the actual expenses incurred; for every copy of any paper filed in the bureau, the sum of 20 cents per folio; affixing the official seal to such copy and certifying same, $1; certificate for agent, $2. Act No. 87, approved March 8, 1911. Sec. I. "That all corpora tions organized under the laws of this State, except such corporations as are hereinafter specifically mentioned, shall pay for the filing of its articles of incorporation a fee of twenty-five ($25) dollars for the first ten thousand ($10,000) dollars, or under, of its authorized capital stock, and one-tenth of one per cent additional on all amounts in excess of ten thousand ($10,000) dollars; and shall pay for any increase of its capital stock twenty-five ($25) dollars on the first ten thousand ($10,000) dollars, or less, and one-tenth of one per cent additional on all amounts in excess of ten thousand ($10,000) dollars." Sec. II. "All insurance companies organized under the laws of any other State, and seeking to do business in this State, shall pay for filing copies of articles of incorporation, the same fees as are charged insurance companies, organized under the laws of the State of Arkansas, for filing copies of articles of incorporation in the State where such foreign company, that seeks to do business in this State, was organized; provided, foreign insurance companies organized outside of the United States, shall pay the same fees for filing copies of articles of incorporation, as are required by the State in which their principal office in the United States is maintained. Provided further all foreign unincorporated insurance companies, associations, shall pay five hundred dollars for the privilege of doing business in this State." Sec. 12. “All corporations that have heretofore paid all the fees prescribed by previous Acts of the General Assembly of this State, shall not be required to pay the fees prescribed by this Act." Sec. 13. "All amounts paid to the State Treasurer under this Act shall be placed to the credit of the general revenue fund and the State Treasurer shall issue to the corporation paying the amount triplicate receipts, one of which shall be filed by the corporation with the State Auditor and one with the Secretary of State. Upon filing the receipt with the Secretary of State, if by a domestic corporation, and such corporation has complied with the other laws of the State of Arkansas, the Secretary of State shall issue to it a charter to do business in this State. If the payment is made by a foreign corporation, and such foreign corporation has complied with all the laws of the State of Arkansas, regulating foreign corporations, the Secretary of State shall issue to such corporation a certificate showing that it is authorized to do intra-State business in Arkansas." Sec. 15. "If any corporation embraced herein shall amend its charter so as to extend its operations, it shall pay additional fees on the same basis prescribed by this act for such incorporation." Sec. 16. "This Act shall not be deemed a repeal of any law now in force regulating corporations, or the payment of fees and taxes by corporations, except that Act 294, approved May 31, 1909, is hereby repealed. This law being necessary for the immediate preservation of the public peace, health, and safety shall be in force from and after its passage." The foregoing requirement as to companies organized outside of the United States is construed by the Attorney-General as follows: "I am of the opinion that the clause quoted means that a company organized outside of the United States shall pay for filing a copy of its articles of incorporation in this State the same fees as such company would be required to pay in the State wherein it maintains its principal office for the United States and for business transacted therein. That is to say, if a British company maintains its principal office in the United States in the State of Connecticut and desires to transact business in the State of Arkansas it should pay to the State of Arkansas for the filing of its articles of incorporation the same fees as are required of it by the State of Connecticut. FIRE DEPARTMENT TAX-No provision. FIRE MARSHAL-No provision. FOREIGN COMPANIES' HOME OFFICE STATEMENTS-Must be filed before July 1. (Not enforced.) GENERAL PENALTY-For any violation of, or non-compliance with, law, revocation of license and fine of $20 to $500. Penalty for making false representations to obtain business, imprisonment for three to ten years. IMPAIRMENT—If after charging reinsurance reserve against company and adding all other debts and claims against the company, capital stock is impaired twenty per cent, Commissioner shall notify company to make good in sixty days. No new business shall be done until the paid-up capital shall be equal to the amount required by law for the transaction of business. INVESTMENTS PRESCRIBED-No provision. LICENSED BROKERS—No provision. Property holders allowed to insure in unauthorized companies must pay 5% of premiums as tax. LIMIT ON A SINGLE RISK-No provision. LLOYDS-No provision. MISCELLANEOUS-Penalty for non-payment of loss within time specified in policy, twelve per cent damages upon the amount of loss, with reasonable attorneys' fees. Company removing suit to Federal court will have its license revoked. Agent must personally inspect risk during term of policy. Judgment for attorneys' fees against insurance company when losing case. MUTUAL COMPANIES—Act 14 of 1897, Sec. I. "That it shall be lawful for any number of farmers of this State to make mutual pledges and give valid obligations to each other for their own insurance from loss by fire, or loss or damages by tornadoes, lightning, cyclones or wind storms, but such association of persons shall in no case insure any property not owned by one of their own number; provided, that the word farmer as used in this act shall apply to and include only such person as actually resides upon a farm and cultivates or superintends the cultivation of same." Act of May 13, 1905. Sec. 1. "No mutual fire insurance company organized outside of this State shall be permitted to do business in this State until it shall have assets amounting to $50,000 in cash or securities that can be converted into cash within sixty days, in excess of all its liabilities including a reserve of the entire unearned premiums on all outstanding policies." See "Deposit"; "Resident Agents"; "Annual Statements." A mutual company may be organized by three or more citizens who are propertyholders and |