320 CORPORATIONS—INSURANCE. [ART. 23.

said company shall be competent to transact the business for
which it shall have been incorporated.

1868, ch. 471, sec. 97.

113. Any corporation incorporated under this article for
insurance purposes, except for the insurance of the lives of per-
sons, is hereby authorized to include in its certificate of incorpo-
ration as among the other objects and purposes for which said
corporation is formed, the following, that is to say: to guarantee
the payment, punctual performance, and collection of promissory
notes, bills of exchange, contracts, bonds, accounts, claims, rents,
annuities, mortgages, choses in action, evidences of debt, and cer-
tificates of property or value, and the titles to property, real or
personal, on such terms as may be established by the board of
directors of said company; to receive on storage, deposit or other-
wise, merchandise, bullion, specie, plate, stock, bonds, promissory
notes, certificates and evidences of debt, contracts or other prop-
erty, and to take the management, custody and charge of real or
personal estate or property, and to advance money, securities and
credits upon any property, real, personal or mixed, on such terms
and with all such powers of sale and other disposition thereof as
shall be established by the charter or by-laws of such corporation;
provided, that the corporate title of any company having among'
its other purposes those enumerated in this section, shall desig-
nate the same as a security, as well as an insurance company.

Ibid. sec. 98.

114. Corporations formed under the provisions of this article,
for insurance purposes, may be formed either as mutual or stock
companies, or as mutual and stock companies combined, as shall
be determined and declared in the certificate of incorporation of
said company.

Ibid. sec. 99.

115. Every corporation formed under the provisions of this
article, for the purposes of life insurance, is hereby authorized
also to insure individuals against accident, and to grant, purchase
or dispose of annuities, unless it be otherwise provided in its.
charter or by-laws.