ART. 23 ] INSURANCE DEPARTMENT. 107

1898, ch. 308.

141 A. Any insurance company organized and incorporated on
the mutual plan, under the laws of this State and other States for
the purpose or insuring against loss or damage, resulting from
burglary or robbery or attempt thereat, and securing against the
loss of money as securities in course of transportation when
shipped by registered mail, shall be authorized, admitted and
licensed to do business in this State, as provided in the two suc-
ceeding sections.

Ibid.

141 B. Before any such company shall be authorized to trans-
act business in this State, it shall have in force one thousand or
more policies, on which the premium shall have been paid in
cash or shall have been evidenced by written contracts, on which
not less than one-fifth of the amount shall have been paid in
cash, and the cash contracts for premiums shall amount in the
aggregate to the sum of not less than one hundred thousand
dollars. The premium contract shall constitute a part of the
assets of the company.

Ibid.

141 C. Policy holders of any company organized and admitted

to transact business in this State under the two preceding sections
shall be hold liable to pay the membership fee and premium on
their insurance as paid or contracted to be paid at the time the
policy id taken out, and shall not be held for any other or further
assessments or claims on the part of the company or its policy
holders. The membership fee and premium agreed upon may be

-collected in cash at the time the policy is issued, or be evidenced
by a written obligation of the policy holder. Such payment or
obligation shall be the limit of the liability of the policy holder
to the company for premium on the insurance.

1894, ch. 662.

142 A. Whenever the application for a policy of life insurance
contains a clause of warranty of the truth of the answers therein
contained, no misrepresentation or untrue statement in such appli-
cation, made in good faith by the applicant, shall effect a forfeiture
or be a ground of defense in any suit brought upon any policy