INSURANCE 2139

An. Code, 1924, sec. 90. 1922, ch. 492, sec. 87.

118. (Underaverage Risks.) Nothing in the foregoing section shall ap-
ply to policies written on underaverage risks, but such underaverage in-
surance may be written upon such terms as the parties may agree upon,
and the surplus may be apportioned and dividends declared and paid an-
nually, or at longer intervals in the manner and proportions, and among
the parties entitled thereto under the terms of their renewal contracts with
the corporation.

An. Code, 1924, sec. 91. 1922, ch. 492, sec. 88.

119. (Insurance or Reinstatement of Unsound Person.) Any agent,
physician or other person who shall insure, or knowingly cause to be insured
or reinstated in membership, any infirm or unhealthy person not at the
time in an insurable condition shall be deemed guilty of a misdemeanor.

An. Code, 1924, sec. 92. 1922, ch. 492, sec. 89.

120. (Inadequate Rates.) Whenever the actuary for the department
shall ascertain that any insurance company doing business in this state is
writing and issuing policies upon an insufficient, insecure or impracticable
table of rates, then he shall report the same to the commissioner, who,
upon such report, shall notify such company so writing or issuing policies
at rates less than are .deemed in the opinion of said actuary adequate
for the protection of its contracts made with its policyholders, of the
fact of such report and advice; and shall thereupon, if such company shall
refuse or neglect to adjust its rates in accordance with the advice of said
actuary, cause an examination to be made into the affairs of said company,
and if the opinion of said actuary be sustained by the result of such ex-
amination, it shall be the duty of the commissioner to require said com-
pany to cease writing and issuing policies at rates so found to be insuffi-
cient. If said company continues the writing and issuing of such policies
after notice from the commissioner, then it shall be the duty of the com-
missioner to institute proceedings against said company as provided in
section 52 of this article.

An. Code, 1924, sec. 93. 1922, ch. 492, sec. 90.

121. (Misrepresentation of Policy.) No life, health or accident insur-
ance company, or officer, director, agent, solicitor or broker, or any person
shall make any misrepresentation, oral, written or otherwise, to any person
for the purpose of inducing or tending to induce such person to take out a
policy of life, health or accident insurance, or for the purpose of inducing
or tending to induce a policyholder in any company to lapse, forfeit or
surrender his insurance therein, or to refuse to accept a policy issued upon
an application thereof and to take out a policy of insurance in any other
company.

An. Code, 1924, sec. 94. 1922, ch. 492, sec. 91.

122. (Fraud Practiced Against Company.) Any agent, collector, phy-
sician, assured or other person who shall make, present or cause to be pre-
sented to any company, including fraternal beneficiary companies or asso-
ciations any false, dishonest or fraudulent certificate or report of death,
sickness or disability of any kind or nature, or any false, dishonest or