AET. 23.] CORPORATIONS—INSURANCE COMMISSIONER. 327

under the laws of foreign governments, shall be calculated only
upon the business of such company in the United States; and
only the assets of such company, held and invested in the United
States, shall be recognized as constituting the reserve fund
so required.

Seventh. Having charged against a company the reinsurance
reserve, as above determined, for fire, inland and marine insur-
ance, and adding thereto all debts and claims against the company,
he shall, in case he finds the capital stock of the company im-
paired to the extent of twenty-five per cent., 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 company 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 interested in said company.

Eighth. Once at least during his term of office, and oftener if
he should deem it expedient so to do, the insurance commissioner
shall visit the principal office of every insurance company organ-
ized under the laws of this State, for the purpose of examining
its affairs. At such time he shall have free access to its books
and papers, and shall thoroughly inspect and examine its affaire
to such extent, and make such inquiries as may be necessary to
ascertain its condition and ability to fulfill its engagements, and
whether it has complied with all the provisions of law applicable
to its transactions. And whenever the insurance commissioner
may have reason to doubt the solvency or the correctness of the
statement of any company not organized under the laws of this
State he shall communicate such doubts, and the reasons for
them, to the insurance commissioner or other proper officer of the
State in which such company is located. And if he is not satis-
fied from the information obtained from such insurance commis-
sioner or other officer, or from the officers of the company, that
the condition of the company is such as to warrant him in per-
mitting it to transact business in this State, under the provisions,
of this article, he shall notify such company that it will be neces-
sary for him to examine its affairs before giving it authority so
to transact business in this State; and for that purpose he shall