324 CORPORATIONS—INSURANCE COMMISSIONER. [ART. 23.

P. G. L., (1860 ) art. 56, sec 28. 1858, ch. 432, sec. 2. 1872, ch. 388. 1874, ch.
400 1876, ch. 248. 1878, ch. 106. 1886, ch. 132.

122. It shall be the duty of the insurance commissioner:

First. To see that all laws of this State relating to insurance
or insurance companies are faithfully executed; to keep on file,
in his office copies of the charter, declaration of organization, or
deed of settlement of every insurance company, including part-
nerships, joint stock associations and corporations organized under
the laws of this State, or organized under the laws of some
other State or nation, and applying to do business in this State,
which copies shall be duly certified in accordance with law by
the secretary of State or other proper officer of the State or
nation wherein such companies are organized; and the insurance
commissioner shall, upon application of any such company or
association, furnish them with certified copies of their charter so
filed in his department.

Second. To furnish in December of each year to the companies
required by this article to report to him, the necessary blank,
forms for the statement required; and as soon as practicable, in
each year, he shall cause to be caiculated by the actuary of his
department, under his supervision, the net value, on the thirty
first day of December of the previous year, of all the policies in
force on that day in each life insurance company doing business
in this State, organized by authority of this State, and of every
other life insurance company doing business in this State, that
shall fail to furnish him, as hereinafter provided, a certificate of
the insurance commissioner of the State by whose authority the
company was organized, or of the State in which it may elect to
have its policies vaiued and its deposits made, in case the com-
pany is chartered by the government of the United States, or by
any foreign government, or by any State not having an insurance
department, giving the net value of all policies in force in the,
company on the thirty-first day of December of the preceding,
year, which calculation of the net value of each policy shall be
based upon the "American experience table of mortality," and,
four and one-half per cent, interest per annum; and the net
value of a policy at any time shall be taken to be the single net
premium which will at that time effect the insurance, less the