INSURANCE 2151

determined by a consideration of facts and circumstances of each particu-
lar claim, the amount so set aside as a reserve to be reasonably sufficient to
cover the probable expense and payments in each case. The reserves for
claims of the classes mentioned in this section shall be first estimated and
set aside by each such company and may be inquired into and verified by
the insurance commissioner, or any examiner from his office, during any
regular examination of said company, and if found to be inadequate, the
said company may be required to set aside such reserves on claims men-
tioned in this section as may in the aggregate be deemed reasonably and
fairly sufficient by the insurance commissioner.

An. Code, 1924, sec. 112. 1922, ch. 492, sec. 109.

145. (Revocation of Licenses of Foreign Companies.) Any foreign
company authorized to do in this state the classes of business embraced
within the provisions of this sub-title, failing or refusing to maintain the
premium, loss and other reserves as required by this article, shall have its
license to do business in this state revoked until all the requirements of
this article with reference to said reserves shall have been fully com-
plied with.

1929, ch. 218.

146. If the Commissioner, after charging any Casualty, Surety, Lia-
bility, Title or Miscellaneous company with the reserves, if any, as pro-
vided by law, and adding thereto all debts and claims against it, finds
the capital stock of such company impaired to the extent of twenty-five per
cent., he shall give notice to the company to make good its whole capital
stock within sixty days; and if this is not done he shall require the com-
pany to cease to do new business within this State; and shall thereupon, in
case the company is organized under the authority of this State, imme-
diately institute such legal proceedings as are necessary to protect the
rights of all persons in said company.

Mutual Insurance Companies.

An. Code, 1924, sec. 113. 1922, ch. 492, sec. 110.

147. (Mutual Companies May Assume Any Risk Except Life Insur-
ance.) Any mutual insurance company organized, licensed or admitted
under the provisions of this article, is empowered and authorized to make
contracts of insurance, or of reinsurance, or may cede or accept reinsurance,
on the whole or any portion of any risk, providing indemnity from any
loss which may be insured against under any other provisions of the laws
of this state, excepting life insurance. Such companies and the business
transacted by them shall be regulated by the provisions of this sub-title and
by no other law relating to insurance, unless such law is referred to under
this sub-title, and no law hereafter enacted shall apply to such companies
unless they be expressly designated therein.

An. Code, 1924, sec. 114. 1922, ch. 492, sec. 111. 1935, ch. 147. 1937, ch. 289.

148. (Requirements Prior to Doing Business.) No corporation organ-
ized under this sub-title shall issue policies or transact any business of in-
surance unless it shall comply with the conditions following, nor until
the Insurance Commissioner has, by formal license, authorized it to do so,