ALBERT C. RITCHIE, GOVERNOR. 1139

be formed either as mutual or stock companies, or as mutual and
stock companies combined, as shall be determined and declared
in the certificate of incorporation of any such company.

SEC. 15. Powers and Purposes. Corporations formed for
insurance purposes as above, shall be formed under and comply
with all the provisions of Article 23, so far as applicable, re-
lating to the formation, powers vested in and obligations im-
posed upon corporations formed under the provisions of said
article, except as otherwise specifically provided in this article,
but shall in all other respects be subject to and regulated by
the provisions of this article and by no other law, act or part
of act now in force or that may hereafter be passed, unless one
or more classes of corporations embraced within this article
shall be specifically mentioned and embraced within the pro-
visions of any such act hereafter passed.

SEC. 16 Certificate to be Approved by Commissioner before
Recording. The certificate of incorporation of every corpora-
tion formed for insurance purposes, or any amendment thereof,
shall be submitted to the insurance commissioner for examina-
tion and by him endorsed as being in accordance with the
provisions of this article and not inconsistent with the Laws
and constitution of this state, before the same may be received
by the state tax commission for record, and no such certificate
or amendment shall be operative and no such company shall
be granted a license or authority to do an insurance business
until all the provisions of this section shall have been complied
with.

SEC. 17. Classes of Business that may be Combined. Any
company incorporated under the laws of this state for insurance
purposes may include in its certificate of incorporation any two or
more classes of insurance business authorized by this article, ex-
cept as herein otherwise provided, and may also include the fol-
lowing ; to guarantee the payment, punctual performance and col-
lection of promissory notes, bills of exchange, contracts, bonds,
accounts, claims, rents, annuities, mortgages, choses in action,
evidences of debt and certificates of property or value, and the
titles to property, real or personal, on such terms as may be
established by the board of directors of said company; to receive
on storage, deposit or otherwise, merchandise, bull^o?;, specie,
plate, stock, bonds, promissory notes, certificates and evidences
of debt, contracts or other property, and to take the manage-