60

CORPORATIONS. ' [ART. 26.

Security to be
deposited in
state treasury.

same shall before said company shall commence issuing
policies, be deposited in the treasury of this state as a
guarantee for the payment of the policies of insurance
issued by said company; and the said company from

Power to sell,
&c., securities.

time to time, as they shall deem proper, may sell and
dispose of the said securities, and exchange and re-
deposit the same with the said treasurer, under such
rules and regulations for said exchange, and re-deposit
as the said treasurer shall direct, the said company
confining the said business of sale, disposition and ex-
change of said securities to either or all of said securi-

Interest and
profits.

ties above named in this section; and the interest and
profits accruing and made on said securities, and the
sale or exchange thereof shall be collected by, and paid
to said company.

Insurance
by married
women.

101. Any married woman, by herself and in her
name, or in the name of any other person, with his
assent, as her trustee, may insure in any life insurance
company formed under the provisions of this article,
for her sole use, the life of her husband for any definite
period or for the term of his natural life; and in case
she shall survive her husband, the sum or net amount
of the insurance becoming due and payable by the

To whom paya-
ble.

terms of the insurance, shall be payable to her and for
her own use, free from the claims of the representatives
of the husband or of any of his creditors; and in case
of the death of the wife before the decease of the hus-
band, the amount of the insurance may be made pay-
able after death to her children for their use, and to
their guardian if under age.

Foreign com-
panies.

102. It shall not be lawful for any insurance com-
pany incorporated under the laws of any other state of
the United States, or by any foreign government, di-
rectly or indirectly, to take risks or transact any busi-
ness of insurance in this state, unless possessed of the .
amount of actual capital required of similar companies
formed under the provisions of this article, and any
such company desiring to transact any such business
as aforesaid by an agent or agents in this state, shall

Agents.

appoint such agent or agents, who shall reside in this