INSURANCE 2147

tion thereto, be liable for any damage the public may have sustained by
reason of such failure. The informant shall receive one-half of any fines
imposed under this section.

For abolition of informer's fees, see art. 38, sec. 3.

1927, ch. 66S.

136. Whenever any individual residing in this State shall die leaving
no assets or property other than life insurance in an amount not exceeding
$150.00, it shall be lawful for the Company or Association in which such
insurance may have been carried to pay the amount of said policy to those
otherwise entitled without the necessity of the grant of letters testamentary
or letters of administration, provided that the beneficiary or next of kin
of the deceased supply said Company or Association with an affidavit to
the effect that the only assets left by said decedent are the proceeds of life
insurance policies of not more than the amount specified.

Surety, Casualty, Liability and Compensation Insurance.

An. Code, 1924, sec. 104. 1922, ch. 492, sec. 101.

137. (Corporate Surety Bonds Authorized.) Whenever any bond,
undertaking, recognizance or other obligation is by law, or the charter,
ordinances, rules or regulations of any municipality, board, body, organ-
ization, court, judge or public officer, required or permitted to be made,
given, tendered or filed with surety or sureties, and whenever the perform-
ance of any act, duty or obligation, or the refraining, from any act, is re-
quired or permitted to be guaranteed, such bond, undertaking, obligation,
recognizance or guaranty may be executed by a surety company qualified
as hereinafter provided; and such execution by such company of such
bond, undertaking, obligation, recognizance or guaranty shall be in all
respects a full and complete compliance with every requirement of every
law, charter, ordinance, rule or regulation that such bond, undertaking,
obligation, recognizance or guaranty shall be executed by one surety or by
one or more sureties, or that such sureties shall be residents or householders
or freeholders, or either or both, or possess any other qualification; and all
courts, judges, heads of departments, boards, bodies, municipalities and
public officers of every character, shall accept and treat such bond, under-
taking, obligation, recognizance or guaranty when so executed by such
company as conforming to and fully and completely complying with every
such requirement of every such law, charter, ordinance, rule or regulation.

As to sureties and counter-security, etc., see art. 90.

An. Code; 1924, sec. 105. 1922, ch. 492, sec. 102.

138. (Qualifications and Surplus.) Any company to be qualified to act
as surety or guarantor in this state, or to transact any of the classes of
business known as casualty, liability or workmen's compensation insurance,
must comply with all the requirements of this article applicable to insur-
ance companies, except such requirements as may be inconsistent with
those embraced within the sections under this sub-title, must be authorized
under the laws of the state where incorporated and under its charter to do
the classes of business for which a license is sought under the laws of this
State, and every such company authorized to write fidelity or surety bonds,
or liability or workmen's compensation insurance, must have good, available
assets of at least one hundred and twenty-five thousand dollars in excess
of its capital stock, reserves and all other liabilities.
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