other proper officer of its own State or nation, with his
certificate that the company is entitled to assume risks
and issue policies therein, must be filed with the
Insurance. Commissioner of tills State. The capital (
stock of no insurance company, mutual insurance i
companies, incorporated by this State, or incorpor-1
ated by the laws of another State or country, and
doing business in tills State, whether fire, life,
marine or inland insurance, shall be less than one
hundred thousand dollars. An amount equal to the
re-insnrance reserve of all insurance companies shall
be invested in the bonds or treasury notes of the
United States, or bonds or stocks of tills or any other
State of the United States, or of any incorporated
city or corporation of this or any other State having
legal authority to issue the same, bearing interest, or
it may be invested in real estate, for their office or
business purposes only, or on ground rents, or loaned
on mortgage of unencumbered real estate in this or any
other State of the United States, worth at least
double the amount loaned thereon, exclusive of buildings, except where such buildings are insured, and
the policies duly assigned as additional security, or
loaned on pledges of any security named in this sec-
tion or on the policies of the company in force, each
loan being less than the net value of the policy on
which the loan is made; proofed, always, that the
current market-value of such pledged securities, oilier
than the bonds and stocks of this State or of the
United States, shall be at all times, during the con-
tinuance of such loans, at least ten per cent. more
than the sum loaned on them, and all such loans are
subject to the power of the company to terminate
the same in case of depreciation of the securities
below that limit; and, provided, in all investments
made upon mortgaged securities, the evidence of the
debt shall accompany the mortgage or deed of trust.
35. That whenever the Attorney General of the
State, or State's Attorney for the City of Baltimore
or for any county in this State, shall be authorized
by the Comptroller to institute proceedings against
any insurance company Incorporated under the
laws of this State, to ascertain whether such corpora-
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capital stock
lot to be less
than.
Proviso .
Authorized
to institute
proceedings.
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