2148 ARTICLE 48A

An. Code, 1924, sec. 106. 1922, ch. 492, sec. 103.

139. (Certificate of Authority.) The commissioner shall issue to any
such company having complied with all the requirements of this article
applicable thereto and applying therefor a license or certificate setting
forth that said company has qualified and is authorized for the ensuing year
to do the classes of business in this state set forth in said certificate which
said certificate shall be evidence of such qualification of such company
to do the classes of business authorized by said certificate, and if so author-
ized therein of its authorization to become and be accepted as sole surety on
all bonds, undertakings, recognizances and obligations required or per-
mitted by law, or in the charter, ordinances, rules or regulations of any
municipality, board, body, organization or public officer, and of the solvency
and credit of such company for all purposes, and of its sufficiency as such
surety.

An. Code, 1924, sec. 107. 1922, ch. 492, sec. 104.

140. (Corporate Fiduciary Shall Not Act as Surety.) No corporation,
which under the laws of this state shall act as trustee, executor, administra-
tor, guardian, committee or receiver, or in any one or more of those capaci-
ties, without bond or security other than its own obligation, in any case in
which bond would be required from a natural person in the like or similar
capacity, shall incur the liability of a surety upon any bond of any sort
or description.

An. Code. 1924, sec. 108. 1922, ch. 492, sec. 105. 1927, ch. 394, sec. 108.

141. (Premium Reserve.) Every company doing any of the classes of
business mentioned and embraced in section 138 shall be charged with and
maintain as any other liability an unearned or reinsurance reserve for all
unexpired policies or risks in force, equal to the unearned portions of the
gross premiums charged for covering said policies or risks, computed on
each respective policy or risk from the date of the issuance of the policy,
bond or other contract of insurance; or, in the discretion of the commis-
sioner, at the rate of fifty per centum of the current annual premiums on
each outstanding bond, policy or contract in force and written for one year
or less, and on policies and bonds in force and written for more than one
year at the rate of fifty percentum of the current year's premiums, plus
the whole of the premiums for subsequent years.

An. Code, 1924, sec. 109. 1922, ch. 492, sec. 106.

142. (Claim Reserves.) All companies authorized to do any of the
above classes of business in this state, shall, in addition to the unearned
premium or reinsurance reserve required by section 141, also at all times
keep and maintain adequate reserve sufficient to pay the claims which may
have been filed against such companies, computed as hereinafter provided.

An. Code, 1924, sec. 110. 1922, ch. 492, sec. 107.

143. (Liability and Compensation Claim Reserves.) The reserve for
outstanding losses under insurance against loss or damage resulting from
accident to or injuries suffered by an employee or other person and for
which the insured is liable, and under insurance against loss from liability