ART. 23.] CORPORATIONS—INSURANCE DEPARTMENT. 331

P. G. L, (1860,) art 56, sec. 30. 1858, ch. 432, sec 6. 1872, ch. 388. 1874,
ch 400. 1876, ch 248. 1878, ch. 106.

124. It shall not be lawful for any insurance company, associ-
ation, partnership or corporation, organized under the laws of any
other State of the United States, or by the government of the
United States, or any foreign government, directly or indirectly,
to take risks or transact any business of insurance, whether life,
fire, marine or inland, or other insurance risks, in this State, unless
it be fully organized and possessed of the amount of actual capital
required of similar companies formed under the laws of this State,
or until the following conditions have been fully complied with:
There must be filed with the insurance commissioner, first, a copy
of its charter, declaration of organization or deed of settlement,
duly approved and certified by the secretary of State, insurance
commissioner, or other proper officer of its own State or nation,
with his certificate that the company is entitled to assume risks
and issue policies therein; second, a power of attorney, appointing
a citizen of this State, resident within this State, the agent or at-
torney for the company, upon whom process of law can be served;
there must also be filed with the insurance commissioner, a certi-
fied copy of the vote or resolution of the directors appointing such
attorney, which appointment shall continue until another attorney
be substituted. And said writing or power of attorney shall stip-
ulate and agree, on the part of the company making the same,
that any lawful process against said company, which is served on
such agent, shall be of the same legal force and validity as if
served on such company or association within this State; and
also, that in case of the death or absence of the attorney so ap-
pointed, service of process may be made upon the insurance com-
missioner of this State; and such power of attorney cannot be re-
voked or modified, (except that a new one may be substituted,) so
long as any policy or liability remains outstanding against such
company in this State. The term process, used above, shall be
held and deemed to include any writ, summons or order, whereby
any action, suit or proceeding shall be commenced, or which shall be
issued in or upon any action, suit or proceedings, by any court, officer
or magistrate; third, a statement of the condition of the company
on the thirty-first day of December next preceding, under oath of
the president or vice-president of the company, with that of the