INSURANCE 2163

in its articles of incorporation, have full power and authority to exchange
contracts of the kind and character herein mentioned. The right to ex-
change such contracts is hereby declared to be incidental to the purposes
for which such corporations are organized and as much granted as the rights
and powers expressly conferred.

An. Code, 1924, sec. 143. 1922, ch. 492, sec. 140.

177. (Certificate of Authority.) Each attorney by whom or through
whom are issued any policies of or contracts for indemnity of the character
referred to under this sub-title, shall procure from the insurance commis-
sioner annually a certificate of authority stating that all the requirements
of this Article have been complied with, and upon such compliance and the
payment of the fees and taxes required by this Article, the insurance com-
missioner shall issue such certificate.

An. Code, 1924, sec. 144. 1922, ch. 492, sec. 141. 1927, ch. 708, sec. 144. 1931, ch. 181.

178. (Taxes and Fees; Agents' Licenses.) In lieu of all other taxes,
licenses or fees whatever, state or local, such attorney, except such as shall
have the principal office located in this State, shall pay annually on account
of the transaction of such business in this State, a license fee of twenty-five
dollars and the same premium tax with the same deductions as is levied
against mutual companies transacting the same kind of business, and where
any such attorney shall appoint an agent, solicitor or representative to
solicit or negotiate contracts of insurance in this State; he shall first comply
with Section 83 of this Article, relating to the appointment of agents and
solicitors by procuring a license for such agent or solicitor within this
State, for which he shall pay the same fee as is charged an agent for a
foreign mutual insurance company; provided the same shall not apply to
any executive or traveling salaried employee of any Exchange.

An. Code, 1924, sec. 145. 1922, ch. 492, sec. 142.

179. (Penalties.) Any attorney who shall exchange any contracts of
indemnity of the kind and character specified under this sub-title, or any
attorney, agent or any person representing him, who shall solicit or nego-
tiate any application for same without the attorney first complying with
the foregoing provisions, shall be deemed guilty of a misdemeanor, and
on conviction thereof, shall be subject to a fine of not less than one hun-
dred dollars, or more than one thousand dollars. For the purpose of
organization and upon issuance of permit by the insurance commissioner,
power of attorney and applications may be solicited without license, but
no attorney, agent or other person shall make any contracts of indemnity
until he shall comply with all the provisions of this sub-title. In addition
to the foregoing penalties, and where not otherwise provided, the penalty
for failure or refusal to comply with any of the terms and provisions of
this sub-title upon the part of the attorney, shall be the refusal, suspen-
sion or revocation of the certificate of authority or license by the insurance
commissioner and publication of his act, after due notice and opportunity
for hearing have been given such attorney, so that he may appear and show
cause why such action should not be taken.