2140 ARTICLE 48A

fraudulent claim for any death, sickness or disability benefit, or claim for
payment to. or against any such company; or any agent or collector who
shall falsely, represent or pretend to represent any such company, or who
shall collect or attempt to collect any premiums or moneys or do any busi-
ness of insurance without authority of the company for which he pre-
tends or claims to act, or who shall secure or obtain any cash or pecuniary
advantage from any such company by any false statement, or whq shall
fail to turn over when required to do so, or satisfactorily account for all
collections for or on account of or property of any such company, shall be
deemed guilty of a misdemeanor.

An. Code, 1924, sec. 95. 1922, ch. 492, sec. 92.

123. (Switching Policies.) No agent, collector, solicitor or other em-
ployee or representative of any company issuing contracts providing for
sick, accident or death benefits and operating on the weekly or monthly in-
dustrial plan, shall be deemed the owner of any part of the weekly or
monthly debit collected by him or that may be under his charge, care, con-
trol or supervision, but each and every such debit shall be deemed wholly
the property of the company in whose name such policies, contracts or
obligations were written or assumed. No agent, collector, solicitor, super-
intendent or other employee or representative of any such company shall
barter, sell, give, transfer or in any manner switch, or offer or attempt
to barter, sell, give, transfer or in any manner switch to any person or
company any part of any debit of such company, or any policies or con-
tracts of such company, without the consent of said company first had in
writing.

An. Code, 1924, sec. 96. 1922, ch. 492, sec. 93.

124. (Penalty for Violation of Sections 121, 122 and 123.) Any in-
surance company, agent, solicitor or broker, or any person whatsoever vio-
lating any provision of sections 121, 122 and 123 shall, upon conviction,
be sentenced to pay a fine of not less than one hundred dollars or more than
five hundred dollars for each and every violation, or in the discretion of the
court, to an imprisonment for a period of not more than six months.

An. Code, 1924, sec. 97. 1922, ch. 492, sec. 94.

125. (Impairment of Capital.) In case it is found that any life insur-
ance company doing business in this state has not on hand, after deducting
all debts and claims against it, exclusive of capital stock, an amount of assets
of the character authorized by this article equal in value to the net present
value of all its policies in force, it shall be the duty of the commissioner
to publish the fact that the existing condition of the affairs of such com-
pany is below the legal standard of solvency established by this state, and
he shall require the company at once to cease doing new business and cause
a rigid examination in regard to all of the affairs of such company. If it
shall thereupon appear that said company is in such condition as to fall
below the legal standard of solvency established by this article, the com-
missioner shall not permit said company to continue in control of its busi-
ness, and it shall be his duty to at once institute the necessary proceed-
ings in accordance with the provisions of this article for the protection of
its policyholders, and to publish the results of the examination of such
company, whenever he may deem it for the interest of the public to do so;