650 ARTICLE 48A.

An. Code, 1924, sec. 162. 1922, ch. 492, sec. 159. 1927, ch. 394, sec. 162.

162. Admission of Foreign Associations. No foreign association now
transacting business organized prior to the passage of this Act which is
not now authorized to transact business in this State shall transact any
business herein without a license from the Insurance Commissioner. Any
such association shall be entitled to a license to transact business within
this State upon filing with the Commissioner a duly certified copy of its
charter or articles of association; a copy of its constitution and laws certi-
fied by its secretary or corresponding officers; a power of attorney to the
Commissioner as hereinafter provided; a statement of its business under
oath of its president and secretary, or corresponding officers in the form
required by the Commissioner, duly verified by an examination made by
the supervising insurance official of its home State or other State satis-
factory to the Insurance Commissioner of this State; a certificate from the
proper official in its home State, province or country that the association is
legally organized; a copy of the contract, which must show that benefits
are provided for by periodical or other payments by persons holding similar
contracts; and upon furnishing the Commissioner such other information
as he may deem necessary to a proper exhibit of its business and plan of
working, and upon showing that its assets are invested in accordance with
the laws of the State, territory, district, province or country where it is
organized, he shall issue a license to such association to do business in this
State until the first day of the succeeding July; and such license shall,
upon compliance with the provisions of this Article, be renewed annually,
but in all cases to terminate on the first day of the succeeding July; pro-
vided, however, that license shall continue in full force and effect until the
new license be issued or specifically refused. Any foreign association de-
siring admission to this State shall have the qualifications required of
domestic associations organized under this Article, and have its assets
invested as required by the laws of the State, territory, district, country or
province where it is organized. For each such license or renewal the asso-
ciation shall pay the Commissioner twenty-five dollars. When the Com-
missioner refuses to license any association or revokes its authority to do
business in this State he shall reduce his ruling, order or decision to writ-
ing and file the same in his office, and shall furnish a copy thereof, to-
gether with a statement of his reasons, to¹ the officers of the association
upon request, and the action of the Commissioner shall be reviewable by
proper proceedings in any court of competent jurisdiction within the
State; provided, however, that nothing contained in this or the preceding
section shall be taken or construed as preventing any such association from
continuing in good faith all contracts made in this State during the time
such association was legally authorized to transact business herein; pro-
vided, however, that all such licenses to be issued January 1, 1928, shall
be issued and paid for pro rata for the period of eighteen months ending
June 30, 1929.