330 CORPORATIONS—INSURANCE DEPARTMENT. [ART. 23.

deems it not prejudicial to the public interest so to do; and he
shall give such other certificates as this article provides for; and
he shall adopt and renew, from time to time, when necessary, with
the approval of the governor, a seal of office, an impression and
description of which, with the governor's certificate of approval,
shall be filed with the secretary of State.

P. G. L, (1860,) art 50, sec 29. 1858, ch. 432, sec 5. 1872, ch 388. 1874,
ch. 400. 1876, ch. 248. 1878, ch 106.

123. No declaration of organization or charter of an insurance
company formed under this article, and no alteration or amend-
ment thereof, shall be operative until it has been submitted to the
attorney general for examination, and found by him to be in
accordance with the provisions of this article, and not inconsistent
with the constitution and laws of this State, and so certified by
him and delivered to the insurance commissioner; and before any
such company shall begin to do any business, the insurance com-
missioner shall examine the officers of said company under oath,
to ascertain whether the capital required of the company named
in the charter, according to the nature of the business proposed
to be transacted by such company, to an amount of not less than
one hundred thousand dollars, has been paid in money, and is
held by the board of directors subject to their actual control,
according to the provisions of the charter of said company, or
has been by them invested in securities negotiable, and worth in
the market not less than the sum of one hundred thousand dol-
lars ; or if a mutual company, that it has received and is in actual
possession of the promises or bona fide engagements of insur-
ance or other securities, as the case may be, to the full extent and
of the value required by law, and the name and residence of the
maker of each premium note forming part of the capital or
assets; and the amount of such note shall be reported to the
insurance commissioner; and the officers or corporators of such
company shall be required to certify under oath that the capital
exhibited to the insurance commissioner is bona fide property of
the company, which certificate shall be filed in the office of the
insurance commissioner; and any officer swearing falsely in regard
to the provisions of this section, shall be deemed guilty of per-
jury, and shall be subject to the penalty or penalties prescribed,
for such offences by the laws of this State.