ART. 23] INSURANCE COMPANIES—LLOYDS. 607

insurance business upon the same terms and conditions as are
by the laws of this State imposed upon an insurance company
organized under the laws of this State, and any such associa-
tion organised in any other of the United States may be per-
mitted to transact its business in this State upon the same
terms and conditions as are by the laws of this State imposed
upon an insurance company incorporated in the State where
such association was organized.

1888, art. 23, sec. 124. 1860, art. 56, sec. 30. 1858, ch. 432, sec. 6
1872, ch. 388. 1874, ch. 400. 1876, ch. 248. 1878, ch. 106.

165. It shall not be lawful for any insurance company,
association, partnership or corporation, organized under the
laws of any other State of the United States, or by the govern-
ment of the United States, or any foreign government, directly
or indirectly, to take risks or transact any business of insur-
ance, 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 o'ther 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 attorney for the company, upon whom
process of law can be served; there must also be filed with
the insurance commissioner a certified copy of the vote or
resolution of the directors appointing such attorney, which
appointment shall continue until another attorney be substi-
tuted. And said writing or power of attorney shall stipulate
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
appointed, service of process may be made upon the insurance
commissioner of this State; and such power of attorney can
not be revoked or modified (except that a new one may be
substituted), so long as any policy or liability remains out-