ALBERT C. RITCHIE, GOVERNOR. 717

ing within the class referred to and authorized by Section 99
shall before being entitled to transact any business of insur-
ance, transfer and assign to and deposit with the Insurance
Commissioner, in trust, as security for the holders of policies
or other obligations of said companies, bonds, coin or treasury
notes of the United States of America, or investments or secur-
ities mentioned and authorized by Section 19, having a market
value of not less than fifty thousand dollars; and such com-
panies falling within the class referred to and authorized by
Section 100, and not by law otherwise provided for, shall de-
posit with the Insurance Commissioner, in trust, as aforesaid,
bonds, coins or treasury notes or investments or securities as
above mentioned and authorized, having a market value of not
less than ten thousand dollars ($10, 000) nor more than one
hundred thousand dollars ($100, 000).

Section 29. Certificates of Authority to Domestic Com-
pany. No company incorporated under the laws of this State
shall, directly or indirectly, transact any business of insurance
until, first there shall have been filed with the commissioner
a duly certified copy of its charter; secondly, it shall have
made the deposit of cash or securities required by this Article,
according to the class of business to be transacted, and a cer-
tificate of said deposit from the Treasurer of this State filed
with the commissioner, unless said deposit shall be made with
the Commissioner under the provisions of Section 20; thirdly,
the officers or incorporators of such corporation shall have filed
a certified statement under oath showing whether or not the
capital required by the company and authorized by its charter
according to the nature of the business proposed to be trans-
acted by it, has been paid in cash and is held by the board of
directors subject to their actual control in accordance with
the provisions of the charter of the said corporation, or has
been invested by them in securities authorized by this article;
fourthly, the officers or incorporators shall have certified under
oath that the capital exhibited to the Commissioner is bona fide
property of the corporation; fifthly, the statement and condi-
tion of said corporation shall have been examined by an exam-
iner or examiners appointed by the Commissioner and a report
of the examination filed with the aforesaid papers, the cost of
such examination to be paid by the company examined; and
sixthly, there shall have been granted by the Commissioner a
license or certificate of authority to said corporation.