which are first lien on real estate, and on which there is less than one year's interest due.

5. The amount of loans on which interest has not been paid within one year.

6. The amount due the company on which judgments have been obtained and the cash value thereof.

7. The amount of stocks in this state, the United States, of any city of this state, and of any other stocks owned by the company, specifying the amount, number of shares, and the par and market value of each kind of stock.

8. The amount of stock held as collateral security for loans, with the amount loaned on, and the par and market value of each kind of stock.

9. The amount of unpaid assessments on stock, premium notes or contingent liabilities.

10. The amount of interest due and unpaid and the amount of interest accrued but not due.

II. The amount of premium notes or contingent liabilities on which policies are issued.

12. The number of policies in force.

13. The amount insured under all policies in force.

14. The amount of premiums received thereon.

15. The amount and description of all other assets. Third. The liabilities of the company, specifying :

1. The amount of losses due and unpaid.

2. The amount of claims for losses resisted by the company. 3. The amount of losses incurred during the year, including those claimed and not due, and those reported to the company upon which no action has been taken.

4. The amount of dividends declared and due and remaining unpaid.

5. The amount of dividends, either cash or scrip, declared but not due.

6. The amount of money borrowed and the security given for the payment thereof.

7. The amount required for reinsurance, being in stock companies, a sum equal to fifty per cent. of the whole amount of premiums on unexpired risks and policies; and in mutual companies a sum equal to fifty per cent. of the cash premiums received on unexpired risks and policies.

8. The amount of all other existing claims against the company.

Fourth. The income of the company during the preceding year, specifying:

1. The amount of cash premiums received.

2. The amount of notes or contingent assets received for premiums.

3. The amount of interest money received.

4. The amount of income received from other sources. Fifth. The expenditure during the preceding year, specifying : 1. The amount of losses paid during the year, stating how much of the same accrued prior and how much subsequent to the date of the preceding statement, and the amount at which losses were estimated in each preceding statement.

2. The amount of dividends paid during the year.

3. The amount of expenses paid during the year, including commissions and fees to agent and officers of the company. 4. The amount paid for taxes.

5. The amount of all payments and expenditures. 6. Amount of scrip dividend declared.

Every mutual fire insurance company created by or organized under any general or special law or act, and doing business in Ohio under any law of this state, upon or without the premium note plan, which shall, by its policy, by-laws or published statements of its financial affairs, claim the benefit of the guarantee fund, or the contingent liability of its policy holders, as provided for in section 3634 of the Revised Statutes, as now in force, shall be held as having organized under the laws of this state as now in force, and be governed by all the provisions thereof as applicable to such companies; and every such mutual fire insurance company that shall neglect or refuse to make and forward to the superintendent of insurance such annual report of its affairs as is required by law, or shall refuse to allow or permit the superintendent of insurance free access to its books and papers, and investigate the financial standing of such company, the charter of every such company organized under the laws of this state as aforesaid, and so neglecting and refusing, shall thereby become forfeited, and the said superintendent of insurance shall proceed without delay to bring the affairs of such company to a close. 91 O. L. 2II.

A fire insurance company organized under special charter under old constitution is subject to reasonable regulation by the legislature, and will not be exempt from compliance with sections 3654 and 3655, unless such exemption is clearly granted by its charter. State v. Eagle Ins. Co., 50 Ohio St. 252.

§ 3655. Special report required of certain insurance com

panies-Penalty

The statement of any such company, the capital of which is composed in whole or in part of notes, shall, in addition to the foregoing, exhibit the amount of notes which originally formed the capital, and also what proportion of such notes is still held by the company and considered capital; and every company organized under any law of this state which fails to make and deposit such statement, or to reply to any inquiry of the superintendent, with respect to such statement, shall be subject to a penalty of five hundred dollars and an additional five hundred dollars for every month that it continues thereafter to transact any business of insurance, to be recovered by action in the name of the state, and, on collection, paid into the state treasury for the benefit of the state common school fund; and the attorney-general, on the request of the superintendent of insurance, shall institute such action against any company so delinquent, in the court of appropriate jurisdiction in Franklin county, or in the court appropriate jurisdiction of the county in which said company is located or has its principal place of business, as he prefers. 84 O. L. 5.

§ 3656. Foreign companies, associations and partnerships excluded-Certificate of authority-License of agent-Capital stock-Deposit by live stock company-Mutual fire company

No company, association or partnership, incorporated, organized or associated under the laws of any other state of the United States, or of any foreign government, for any of the purposes mentioned in this chapter, which does a banking or any other kind of business in connection with insurance, shall, directly or indirectly, transact any business of insurance in this state, nor shall any such company, association or partnership do any such business in this state until it procures from the superintendent a certificate of authority so to do; nor shall any person or corporation act as agent in this state for any such company, association or partnership, directly or indirectly, either in procuring applications for insurance, taking risks or in any manner transacting the business of insurance, until it procures from the superintendent a license so to do, stating that the company, association or partnership has complied with all the requirements of this chapter applicable to such company, and depositing a certified

copy of such license in the office of the recorder of the county in which the office or place of business of such agent or agents is established; 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, and if a live stock insurance company has deposited in such state or in this state, for the benefit of its policy holders, securities approved by the insurance department of such state in an amount equal to one-fourth of its entire capital stock; but if the company is a mutual fire insurance company, it shall have actual cash assets of same amount and description as is required of mutual fire insurance companies of this state, after organization, invested as required by the law of the state where such company was organized, and such companies must have either premium notes or contingent liability of the same amount as is required of similar fire insurance companies of this state, which contingent liability may be either in writing or be expressed in the policies issued by such company. 91 O. L. 138.

A mutual company duly organized under the laws of another state may do business in this state if it has the amount and kind of assets required by the laws of this state of similar companies, viz., at least $50,000 in premium notes, on which $10,000 in money has been paid. State ex rel. Miss. Valley Mut. Ins. Co. v. Moore, Supt., 42 Ohio St. 103.

But the superintendent of insurance cannot be compelled by mandamus to admit such company into the state, if he has, in good faith, rejected its application for admission as not otherwise qualified, although on the trial in mandamus, the superintendent may be unable to show the existence of any fact tending to establish the disqualification; the exercise of his discretion in such cases, in the absence of fraud, being conclusive. Still the court say the foreign company cannot be excluded by mere arbitrary ruling. Ib.

A loan by a foreign insurance company on a note and mortgage is not "banking" under this section. Bank v. Ins. Co., 42 Ohio St. I.

Issuing license by superintendent is a ministerial and not a judicial act; and is therefore not a bar to a proceeding in quo warranto. State v. Ins. Co., 49 Ohio St. 440.

Foreign insurance companies and associations, whether incorporated or not, before commencing business in this state, are required to obtain a certificate of authority to do so, from the superintendent of insurance; the privilege it confers is a franchise, and any company or association, carrying

on its business here without having obtained such authority, is unlawfully exercising a franchise. State v. Ackerman, 51 Ohio St. 163.

§ 3657. The waiver companies must file

Any such company desiring to transact any business by an agent in this state shall file with the superintendent a written instrument, duly signed and sealed, authorizing any agent of the company in this state to acknowledge service of process in this state for and in behalf of the company, consenting that service of process, mesne or final, upon any such agent, shall be taken and held to be as valid as if served upon the company according to the laws of this or any other state or country, waiving all claim or right of error by reason of such acknowledgment of service, and consenting that suit may be brought against it in the county where the property insured was situate, or where the same was insured, and that service of process made therein by the sheriff of such county, by sending a copy thereof by mail, addressed to the company at the place of its principal office located in the state where it was organized, or, if it is a foriegn company, to such company at the place of its principal office in the United States, at least thirty days prior to taking judgment in such suit, shall be as valid as if personally made upon the company according to the laws of this state, or any other state or government, and that if suit be brought against it after it ceases to do business in this state as aforesaid, and there be no agent of the company in the county in which suit is brought upon whom service of process can be had, service upon it may had by the sheriff sending a copy thereof, mailed as aforesaid, and within the time. aforesaid; but the sheriff's return shall show the time and manner of such service. 75 V. 572, § 20.

Every such company, association, or partnership shall also file with the superintendent a certified copy of its charter, or deed of settlement, together with a statement, under the oath of its president or vice-president, or other chief officer, and the secretary of the company, stating the name of the company, the place where it is located, and the amount of its capital, with a detailed statement of the facts and items required from the companies organized under the laws of this state by sections thirty-six hundred and fifty-three and thirty-six hundred and fifty-four; and