EMERSON C. HARRINGTON, GOVERNOR. 867

154AD. Concurrently with the filing of the declaration pro-
vided for by the terms of Section 154AC hereof, the Attorney
shall file with the Insurance Commissioner an instrument
in writing, executed by him for said subscribers, conditioned
that upon the issuance of Certificate of Authority provided for
in Section 154AJ hereof, action may be brought in the county
or city in which the property or risk insured thereunder is
situated, and service of process may be had upon the Insurance
Commissioner in all suits in this State arising out of such
policies, contracts or agreements, which service shall be valid
and binding upon all subscribers exchanging at any time recip-
rocal or inter-insurance contracts through such attorneys. Three
copies of such process shall be served and the Insurance Com-
missioner shall file one copy, forward one copy to said attor-
ney and return one copy with his admission of service.

154AE. There shall be filed with the Insurance Commis-
sioner by such attorney, whenever the Insurance Commissioner
shall so require, a statement under oath of such attorney show-
ing the maximum amount of indemnity upon a single risk, and,
no subscriber shall assume on a single risk an amount greater
than ten per cent, of the net worth of such subscriber.

154AF. There shall at all times be maintained assets in
cash or securities authorized by the laws of the State in which
the principal office is located, for the investment of funds
of insurance companies doing the same kind of business, an
amount equal to 100% of the net unearned premiums or de-
posits collected and credited to the accounts of subscribers,
or 50% of the net annual advance premiums or deposits col-
lected and credited to the accounts of subscribers on policies
having one year or less to run and pro rata on those for longer
periods. In addition to the foregoing sum, in the case of lia-
bility and workmen's compensation insurance, there shall be
maintained as a reserve in cash or siuch securities, assets suffi-
cient to discharge all liabilities on all outstanding losses arising
under policies issued; the same to be calculated on the basis
of net premiums or deposits as in this section defined and in
accordance with the laws of the State relating to similar re-
serves for companies insuring similar risks. Net premiums
or deposits as used in this section shall be construed to mean
the advance payments made by subscribers after deducting
therefrom the amount specifically provided in the subscribers'
agreements for expenses. If at any time the assets on hand
are less than the foregoing requirements, or less than the $100,-