JOHN LEE CARROLL, ESQUIRE, GOVERNOR. 137

	Fourth. And it is hereby made the duty of the In-
	surance Commissioner, after having ascertained the
	amount of the net values of all the policies in force,	Asscts must
	to see that the company has that amount in safe le-	equal amount
	gal securities of the description and character here-	of liabilities and reserve.
	inafter provided for in this act, after all its other
	debts and claims against it, including those resisted
	by the company, but exclusive of capital stock, have been provided for ; and in case it is found that any Life Insurance Company doing business in thir, State,	If assets in- sufficient
	has not on hand, after so deducting all debts and
	claims against it, exclusive of capital stock, an
	amount of assets of the character hereafter prescrib-
	ed in this act, equal in value to the net present value
	of all its policies in force, it shall be the duty of the
	Insurance Commissioner to publish the fact that the	Inpurance
	existing condition of the affairs of the company is below the legal standard of solvency established by	Commissi'ner to publish the fact, suspend
	this State, and he shall require the company at once	new business
	to cease doing new business ; and he shall immedi-	and institute
	ately institute such proceedings as are necessary to	necessary proceedings.
	protect the rights of all persons interested in said-
	company, and it shall be his duty to see that no com-	Classes of in-
	pany is permitted to insure lives in this State whose	suiance lim-
	charter authorize it to do fire, marine, or inland in-	ited.
	surance business.
	Fifth. It shall be the duty of the Insurance Com-
	missioner, after he has notified a Life Insurance	Examinat'ns
	Company, organized under the authority of this	in caseof com- panies organ-
	State, to cease doing new business on account of its	ized under the
	condition being below the legal standard of solvency established by this State, at once to cause a rigid	laws of this State whose business is
	examination in regard to all the affairs of such com-	suspended.
	pany. In case it shall appear that there is no fraud	Insuiance
	or gross incompetency or recklessness in the man-	Commissi'ner
	agement, he may, upon publishing the facts in the	may give and
	case, permit such company to continue in charge of	renew per- mission to
	its business for one year ; provided there is, in his	continue.
	opinion, reason to believe that the company may
	eventually be able to re-establish its solvency accord-
	ing to the legal standard. At the expiration of such
	year he may renew the permission, in case, on ex-
	amination, he is satisfied that the company is likely
	to retrieve its condition ; but in case the Insurance
	Commissioner does not permit the company to con-