INSURANCE 2099

An. Code, 1924, sec. 14. 1922, ch. 492, sec. 15.

14. (Powers and Purposes.) Corporations formed for insurance pur-
poses as above, shall be formed under and comply with all the provisions
of Article 23, so far as applicable, relating to the formation, powers vested
in and obligations imposed upon corporations formed under the provisions
of said article, except as otherwise specifically provided in this article,
but shall in all other respects be subject to and regulated by the provisions
of this article and by no other law, act or part of act now in force or that
may hereafter be passed, unless one or more classes of corporations embraced
within this article shall be specifically mentioned and embraced within
the provisions of any such act hereafter passed.

An. Code, 1924, see. 15. 1922, ch. 492, sec. 16.

15. (Certificate to be Approved by Commissioner before Recording.)
The certificate of incorporation of every corporation formed for insurance
purposes, or any amendment thereof, shall be submitted to the insurance
commissioner for examination and by him endorsed as being in accordance
with the provisions of this article and not inconsistent with the Laws and
constitution of this state, before the same may be received by the state
tax commission for record, and no such certificate or amendment shall be
operative and no such company shall be granted a license or authority to
do an insurance business until all the provisions of this section shall have
been complied with.

An. Code, 1924, sec. 16. 1922, ch. 492, sec. 17.

16. (Classes of Business that may be Combined.) Any company incor-
porated under the laws of this state for insurance purposes may include
in its certificate of incorporation any two or more classes of insurance
business authorized by this article, except as herein otherwise provided,
and may also include the following; to guarantee the payment, punctual
performance and collection of promissory notes, bills of exchange, contracts,
bonds, accounts, claims, rents, annuities, mortgages, choses in action, evi-
dences of debt and certificates of property or value, and the titles to prop-
erty, real or personal, on such terms as may be established by the board
of directors of said company; to receive on storage, deposit or otherwise,
merchandise, bullion, specie, plate, stock, bonds, promissory notes, certifi-
cates and evidences of debt, contracts or other property, and to take the
management, custody and charge of real or personal estate or property,
and to advance money, securities and credits upon any property, real,
personal or mixed, on such terms and with all such powers of sale and
other disposition thereof as shall be established by the charter or by-laws of
such corporation; provided that the corporate title of any company having
among its other purposes those enumerated in this section, shall designate
the same as a security, as well as an insurance company, and provided
further, that no company incorporated for the purpose of insuring the
lives of persons may include in its certificate of incorporation any other
class of business than the insurance of persons against disability from
accident or sickness, and any insurance appertaining to life insurance,
including endowments, and the grant, purchase or disposition of annuities.