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any inquiries to any insurance company in relation to its doings and conditions, or any other matter connected with its transactions, which he may deem necessary for the public good, or for a proper discharge of his duties, and it shall be the duty of any company so addressed to promptly reply in writing thereto.” (R. S., 1899, Sec. 83.) Sec. 28. “It shall be the duty of the Insurance Commissioner, whenever he shall deem it expedient to do so, in his judgment, to appoint one or more persons, not officers, agents or stockholders of any insurance company doing business in this State, to examine into the affairs and condition of any insurance company incorporated or doing business in this State, or to make such examination himself, and it shall be the duty of the officers or agents of such company or companies to cause their books to be opened for the inspection of the Insurance Commissioner or the person or persons appointed, and otherwise facilitate such examination so far as may be in their power so to do, and for the purpose of arriving at the truth in such cases, the Insurance Commissioner, or the person or persons so appointed by him, shall have power to examine, under oath, the officers or agents of any company or others, if necessary, relative to the business and condition of the said company; and whenever the Insurance Commissioner shall deem it best for the interests of the public se to do, he shall publish the

result of such investigation in one or more papers of this State. * FEES—For filing examination of application and issuing certificate, $50; for

filing annual statement, $25; for filing acceptance of State constitution, $2.50; for every certificate of authority for agents, $i; for every copy of paper on file, 15 cents per folio; for certifying same on affixing seal, 50 cents; for examinations, necessary expenses; for publication of condensed

statement, $12. Fees are payable to Insurance Commissioner. FIRE DEPARTMENT TAX—None. FIRE MARSHAL-No provision for investigation of fires. FOREIGN COMPANIES' HOME OFFICE STATEMENTS—Not

required. GENERAL PENALTIES–Sec. 50 provides for revocation of license for

any violation of or non-compliance with the law. Sec. 27 provides a penalty of not exceeding $1000 fine, and imprisonment for thirty days to six months, for any violation of or non-compliance with law. License

of company in unsound condition to be revoked. IMPAIRMENT—Limit of impairment permitted, twenty per cent. A larger

impairment must be made good or business must cease. INVESTMENTS PRESCRIBED—The capital and accumulated funds of a

domestic company mav be invested in bonds and mortgages on unincumbered real estate in Wyoming, worth double the amount loaned thereon, or in the stocks of Wyoming, or in the stocks or treasury notes of the United States, or in the stocks and bonds of any county or incorporated city in Wyoming, which may have been authorized to be issued by the Legislature, or may lend the same, or any part thereof, on the security of such

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stocks, bonds or mortgages as aforesaid, and any surplus moneys over and above the capital stock may be invested in or loaned upon the pledge of public stocks of the United States, or of any one of the States, or upon the stocks, bonds or other evidences of indebtedness of any solvent dividendpaying institution incorporated under the laws of Wyoming or of the United States, except its own stock, provided that the current market value of such securities shall be, at all times, during the continuance of such loan, at least twenty per cent more than the sum loaned thereon. No domestic company shall purchase or hold real estate except such as shall be necessary for the convenient accommodation of its business, and all other real estate acquired in satisfaction of legitimate debts shall be sold or conveyed within three years after the company shall have perfected title thereto; time of sale may be extended for sufficient cause by the Insurance

Commissioner. LICENSED BROKERS-No provision. LIMIT ON A SINGLE RISK-Ten per cent of paid-up capital. LLOYDS—Insurance Law, Sec. 42. “Any insurance company, association

or partnership organized for any of the purposes specified in this chapter, incorporated by or organized under the laws of any other State or the United States, or any foreign government, violating the provisions of this chapter, shall forfeit the sum of $500 to the State of Wyoming for each

and every offense. MISCELLANEOUS-Sec. 37. “It shall not be lawful for any company

organized upon the mutual plan to do business and take risks upon the stock plan; neither for a company organized as a stock company to do

business upon the plan of a mutual insurance company." MUTUAL COMPANIES—Must not commence business with less than 200

members subscribing $25,000 of premiums, of which $5000 must be paid in cash, and the remainder in notes of solvent parties for not more than $500 each, and no two made by the same person or firm (unless the total is not more than $500). Notes shall be held until accumulation of profits aggregates amount of cash capital required of stock companies, except those given for policies subsequently terminated. The word "mutual" must be embodied in the title of a mutual company. Mutual associations not organized for profit and insuring only members may be organized

by 200 persons. PRELIMINARY DOCUMENTS—Company must file with the Auditor,

who is ex-officio the Insurance Commissioner, a certified copy of its charter and a verified statement, showing its financial condition, an instrument accepting the State constitution, and an appointment of the State Auditor as an attorney for service. Foreign companies must also file a certificate of deposit and certified copy of power of attorney of United States manager. On receiving certificate to do business the same must be published in two newspapers of general circulation, one of which must be published at the capital.

PUBLICATION–Statement must be published, once annually, in two news

papers of general circulation, one of which shall be published at the capital. Copies of same must be sent to State Auditor. In advertisements showing capital and assets, only cash capital and assets may be published. In addition, the Insurance Commissioner shall cause a condensed summary of the annual statement, showing capital, assets, liabilities, income, expenditures and business done in the State, to be published in a daily newspaper of general circulation in the State for six successive days, or in a weekly newspaper for six successive weeks, at the expense of the company;

(fee, $12.) RECIPROCAL LAW—Insurance Laws, Sec. 33. “Whenever the existing

or future laws of any other State or Territory of the United States shall require of insurance companies incorporated by or organized under the laws of this State, having agencies in such other State or Territory, or of the agents thereof, any deposit of securities in such State or Territory for the protection of policyholders, or otherwise, in any payment for taxes, fines, penalties, certificates of authority, license fees, or otherwise, greater than the amount required for such purposes from similar companies of other States or Territories, by then existing laws of this State, then, and in every such case, all companies of such States or Territories establishing or having theretofore established an agency or agencies in this State, shall be and are hereby required to make the same deposit for a like purpose with the Insurance Commissioner of this state, and to pay said Insurance Commissioner for taxes, fines, penalties, certificates of authority, license fees, or otherwise, an amount equal to the amount of such charges and payments imposed upon or required by the laws of such State or Territory of the companies of this State, or the agents thereof." (R. S., 1899,

Sec. 3179.) REINSURANCE-No prohibition of reinsurance in unauthorized companies.

Companies reinsuring in unauthorized companies are held responsible. REINSURANCE RESERVE_Fifty per cent of premiums on all unexpired

risks under one year, and pro rata on those running more than one year. RESIDENT AGENTS—Law of 1903. No fire insurance company or cor

poration of another State or foreign country shall transact business in Wyoming except through duly constituted and appointed agents, resident therein, who shall maintain a bona fide, duly operated business office in the State, and shall issue and countersign all policies and contracts so issued. This statute does not apply to direct insurance covering the rolling stock of railroad corporations, operating between different States, or property received for shipment from one State to another, while in the possession or custody of railroad corporations or other common carriers. Violation of this statute may result in revocation and annulment of license, at the dis

cretion of the Auditor of State. SEMI-ANNUAL STATEMENTS--Not required, except for fire department

taxes.

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STANDARD POLICY-None prescribed.
TAXES--Revised Statutes, Sec. 3788 (as amended). “There is hereby im-

posed and levied upon each and every insurance company transacting the business of insurance within this State a tax of two and one-half per centum per annum upon the gross premiums received by it for insurance within this State from the beginning until the close of the calendar year ending on the thirty-first day of December at midnight, as disclosed by the annual report made by said company to the Insurance Commissioner, as now required by law.

Insurance companies shall be subject to no other taxation under the laws of this State than that imposed by this section, except taxes on real estate or personal property owned or held in trust by them, and such fees as are now or shall be hereafter imposed as a condition precedent to the transaction of business within this State.” Tax is payable by March 30 to the Insurance Commissioner.

Penalty for violation, revocation of license. TAX STATEMENTS—Fire department tax statements must be filed July

I and January 1, showing business for (Sec. 43) "the year or part of a year ending on the next preceding first day of July or January.” State taxes

based on annual statement, which see. VALUED POLICY-No requirement.

COUNTY TAXES AND FEES.

None.

MUNICIPAL TAXES AND FEES.

None.

UNITED STATES.

TAX UPON CORPORATIONS. An Act of Congress, which was approved August 5, 1909, imposes a special excise tax upon insurance companies, measured by their net income over and above $5000 as follows:

SECTION 38. “That every corporation, joint stock company or association, organized for profit and having a capital stock represented by shares, and every insurance company, now or hereafter organized under the laws of the United States or of any State or Territory of the United States or under the Acts of Congress applicable to Alaska or the District of Columbia, or now or hereafter organized under the laws of any foreign country and engaged in business in any State or Territory of the United States or in Alaska or in the District of Columbia, shall be subject to pay annually a special excise tax with respect to the carrying on or doing business by such corporation, joint stock company or association, or insurance company, equivalent to one percentum upon the entire net income over and above five thousand dollars received by it from all sources during such year, exclusive of amounts received by it as dividends upon stock of other corporations, joint stock companies or associations, or insurance companies, subject to the tax hereby imposed; or if organized under the laws of any foreign country, upon the amount of net income over and above five thousand dollars received by it from business transacted and capital invested within the United States and its Territories, Alaska, and the District of Columbia during such year, exclusive of amounts so received by it as dividends upon stock of other corporations, joint stock companies or associations, or insurance companies, subject to the tax hereby imposed: Provided, however, That nothing in this section contained shall apply to labor, agricultural or horticultural organizations, or to fraternal beneficiary societies, orders, or associations operating under the lodge system, and providing for the payment of life, sick, accident and other benefits to the members of such societies, orders or associations, and dependents of such members, nor to domestic building and loan associations, organized and operated exclusively for the mutual benefit of their members, nor to any corporation or association organized and operated exclusively for religious, charitable, or educational purposes, no part of the net income of which inures to the benefit of any private stockholder or individual.

“Second. Such net income shall be ascertained by deducting from the gross amount of the income of such corporation, joint stock company or association, or insurance company, received within the year from all sources, (first) all the ordinary and necessary expenses actually paid within the year out of income in the maintenance and operation of its business and properties, including all charges such as rentals or franchise payments, required to be made as a condition to the continued use or possession of property; (second) all losses

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