shares, upon all the insurance companies doing business in this State; and the commissioner has power to collect such assessments and pay the same into the State treasury. Countersigning securities. § 21. No transfer by the insurance commissioner of securities of any kind, in any way held by him in his official capacity, is valid unless countersigned by the treasurer of the State. It is the duty of the State treasurer: 1. To countersign any such transfer presented to him by the commissioner; 2. To keep a record of all such transfers, stating the name of the company from whose account the transfer is made; the name of the transferee, unless transferred in blank; and a description of the security; 3. Upon countersigning, to advise by mail the company concerned of the particulars of the transaction; 4. In his annual report to the Legislature, to state the amount of transfers countersigned by him. Access to books. § 22. For the purpose of verifying the correctness of records, the commissioner is entitled to free access to the treasurer's record required by section 21, and the treasurer is entitled to free access to the books and other documents of the insurance department, relating to securities held by the commissioner. TITLE III. PROVISIONS APPLICABLE TO ALL CLASSES OF COMPANIES. ARTICLE I. Authority to do business, and restrictions on the powers of companies and agents. II. Annual statements. III. Service of process on companies not of this State. ARTICLE I. AUTHORITY ΤΟ DO BUSINESS, AND RESTRICTIONS ON POWERS OF COMPANIES AND AGENTS. Section 23. Business of insurance unlawful except as provided in this act. 24. Insurance depending on life not to be connected with other business. 25. Approval of charter, etc., by attorney-general. 26. Investment of capital. 27. Examination of capital and securities. 28. Conditions of commencing business. 29. Agent's certificate of authority. 30. Contents of advertisements. 31. Restrictions on holding real estate. 32. Companies must examine their own securities. PROVISIONS APPLICABLE TO ALL CLASSES OF COMPANIES. Business of Insurance unlawful except as provided in this act. § 23. It is unlawful for insurers or their agents to make, negotiate, or solicit, within this State, any contract of insurance, except as authorized in this act. Insurance depending on life not to be connected with other business. § 24. No company hereafter organized in this State shall make insurance upon the lives of individuals, nor grant, purchase, or dispose of annuities unless organized solely therefor, and doing such business exclusively. Approval of charter by attorney-general. § 25. No declaration of organization or charter of an insurance company formed under any general law of this State, and no alteration or amendment thereof, shall be operative until it has been submitted to the attorney-general for examination; and found by him to be in accordance with the provisions of this act, and of such general law, and not inconsistent with the constitution and laws of the United States and of this State; and so certified by him, and delivered to the insurance commissioner. Investment of capital. § 26. The capital stock and accumulations of any insurance company of this State, shall be invested in the bonds or treasury notes of the United States, or bonds of this State or any other State of the United States, or of any city, town, or county of this State or of any other State of the United States having legal authority to issue the same, bearing interest; or they may be invested or loaned on mortgages of unencumbered real estate in this or any other State of the United States, worth at least double the amount loaned thereon, ex lusive of buildings; except when such buildings are insured and the licies duly assigned as additional security, or loaned on pledges of ty of the securities named in this section: Provided always, that the rrent market value of such pledged securities shall be at all times ring the continuance of such loans at least twenty per cent more in the sum loaned on them, and all such loans are subject to the wer of the company to terminate the same in case of depreciation securities below that limit: and provided that in all investments le upon mortgage securities the evidence of the debt shall accomJe mortgage or deed of trust. No dividends shall be paid except from surplus in excess of the nium capital stock required by law, reserve fund for reinsurance olicies, and other liabilities of the company. ut this section shall not be construed to affect the power of a company to make dividends not impairing its capital and its reserves. Examination of capital and securities. § 27. Before any insurance company of this State shall do any business, the insurance commissioner shall cause an examination to be mule, either by himself or by a disinterested person appointed by hia for that purpose, who shall certify, under oath, that the capital herein required of the company named in the charter, according to the nature of the business proposed to be transacted by such company, has been paid in in money, and invested in such securities as are required by section 26 of this act or, if a mutual company, that it has received and is in actual possession of the premiums, or bonâ fide engagements of insurance, or other securities, as the case may be, to the ful extent and of the value required by law; and the name and the residence of the maker of each premium note forming part of the capital or assets, and the amount of such note, shall be reported to the commissioner; and the corporators or officers of such company all be required to certify, under oath, that the capital exhibited to ose persons is bonâ-fide property of the company; which certifiates shall be filed in the office of the commissioner. Conditions of commencing business. § 28. Before any insurance company shall commence business in this State, the following conditions must be complied with. It must be fully organized. 2. If it be a company not of this State, a copy of its charter, duly accepted, or its declaration of organization or deed of settlement, |