gives the company the option. This is justifiable because the complainant (company) has no constitutional right to do business in that state. That state has authority at any time to declare that it shall not do business there. This is the whole point of the case, and, without reference to the injustice, the prejudice, the wrong that is alleged to exist, must determine the question. No right of the complainant (company) under the laws or constitution of the United States, by its exclusion from the state, is infringed, and that is what the state now accomplishes. There is nothing, therefore, that will justify the interference of this court. . . . The effect of the statute is simply to place foreign insurance companies upon a par with domes tic ones doing business in Kentucky . . The mere enactment of a statute which in substance says, if you choose to exercise your right to remove a case into a federal court your right to further do business within the state shall cease and your permit shall be withdrawn, is not open to any constitutional objection "--Security Mut. L. Ins. Co. vs. Prewitt, 202 U. S. 246, bk. 51 L. ed. 1013, 26 Sup. Ct. Rep. 619 (Day and Harlan, JJ., dissenting), affirming 26 Ky. L. Rep. 1239, 83 S. W. Rep. 611, 1 L. R. A. (N. S.) 1019, dissenting opinion of Burnham and Barker, JJ., 29 Ky. L. Rep. 77, 84 S. W. Rep. 527. See, also, cases 12 Cent. Dig. tit. "Corporations," § 2506; 13 Cent. Dig. tit. "Courts," § 796. § 609. MAY DETERMINE NAME OF NEW CORPORATION. The commissioner must require the name under which any company hereafter proposes to be formed or organized under the laws of this state, for the transaction of insurance business, to be submitted to him before the commencement of such business; and he may reject any name or title so submitted when the same is an interference with or too similar to one already appropriated, or likely to mislead the public in any respect; and in such case a name not liable to such objection must be chosen. History: Former section repealed and present section enacted in place thereof March 8, 1907, Stats. and Amdts. 1907, p. 155. In effect immediately. § 610. STATEMENTS TO BE MADE BY INSURANCE COMPANIES. HOW VERIFIED. The commissioner must require statements and reports to be verified as follows: (1) If it be made by a corporation organized under the laws of this state, by the oaths of any two of the executive officers thereof; (2) If it be made by an individual or firm, by the oath of such individual or member of the firm; (3) If made by a foreign insurance company, or person, by the oath of the principal executive officer thereof, or manager residing within the United States. History: Former section repealed and present enacted March 8, 1907, § 611. ANNUAL STATEMENT BY INSURANCE COMPANIES OF BUSINESS DONE IN STATE. All companies doing business in this state must make and file with the insurance commissioner, on or before the first day of March of each year statements, which must exhibit the condition and affairs of every such company, on the thirty-first day of December then next preceding, which statements, as adjusted by the commissioner upon a proper examination of the same, must be published by such company daily, for the period of one week, in some newspaper published in the city where the principal office in this state is located. History: Former section repealed and present enacted March 8, 1907, § 612. WHAT STATEMENT MUST SHOW. Such statement, if made by other than life insurance companies, must show: [Capital.] First-The amount of the capital stock of the company. [Assets.] Second-The property or assets held by the company, specifying: 1. The value of real estate held by said company; 2. The amount of cash on hand and deposited in banks to the credit of the company, specifying the same; 3. The amount of cash in the hands of agents, and in course of transmission; 4. The amount of loans secured by bonds and mortgages, constituting the first lien on real estate, on which there is less than one year's interest due or owing; 5. The amount of loans on which interest has not been paid within one year previous to such statement; 6. The amount due the company upon which judgments have been obtained; 7. The amount of stocks of this state, of the United States, or any incorporated city of this state, and of any other stocks owned by the company, specifying the amount, number of shares, and par and market value of each kind of stocks. 8. The amount of stocks held as collateral security for loans, with the amount loaned on each kind of stock, its par value and its market value; 9, The amount of interest due and unpaid; 10. The amount of all other loans made by the company, specifying the same; 11. The amount premium notes on hand on which policies are issued; 12. All other property belonging to the company, specifying the same. [Liabilities.] Third-The liabilities of such company, specifying: 1. The amount of losses due and unpaid; 2. The amount of claims for losses resisted by the company; 3. The amount of losses in process of adjustment or in suspense, including all reported or supposed losses; 4. The amount of dividends declared, due, and remaining unpaid; 5. The amount of dividends declared, but not due; 6. The amount of money borrowed and security given for the payment thereof; 7. Gross premium (without any deductions) received and receivable upon all unexpired fire risks running one year or less from date of policy, reinsurance 'thereon at fifty per cent; 8. Gross premiums (without any deductions) received and receivable upon all unexpired fire risks running more than one year from date of policy, reinsurance thereon pro rata; 9. Gross premiums (without any deductions) received and receivable upon all unexpired marine and inland navigation risks, except time risks, reinsurance thereon at one hundred per cent; 10. Gross premiums (without any deductions) received and receivable on marine time risks, reinsurance thereon at fifty per cent; 11. Amount reclaimable by the insured on perpetual fire insurance policies, being ninety-five per cent of the premiums or deposit received; 12. Reinsurance fund and all other liabilities, except capital; 13. Unused balances of bills and notes taken in advance for premiums on open marine and inland policies, or otherwise, returnable on settlement; 14. Principal unpaid on scrip or certificates of profits, which have been authorized or ordered to be redeemed; 15. Amount of all other liabilities of the company, specifying the same. [Income.] Fourth-The income of the company during the preceding year, specifying: 1. The amount of cash premiums received; 2. The amount of notes received from premiums; 3. The amount of interest money received, specifying the same; 4. The amount of income received from all other sources, specifying the same. [Expenditures.] Fifth-The expenditures of the preceding year, specifying: 1. The amount of losses paid; 2. The amount of dividends paid; 3. The amount of expenses paid, including commissions and fees to agents and officers of the company; 4. The amount paid for taxes; 5. The amount of all other payments and expenditures. [Risks taken.] Sixth-1. The amount of risks written during the year; 2. The amount of risks expired during the year; 3. The amount of risks written during the year in the state of California; 4. The amount of premiums thereon. [Proviso.] Provided, that any foreign fire, marine, or inland insurance company, incorporated or not incorporated, doing business within this state, shall return only the business done in the United States and the assets of the company situated in the United States and held for the protection of the policyholders of the company who are residents of the United States, except that any further returns requested from time to time by the insurance commissioner must be made. History: Former section repealed and present enacted in place thereof § 613. STATEMENT OF LIFE, HEALTH, AND ACCIDENT COMPANIES. Such statement, if made by life, health, and accident companies, must show: [Capital.] First-The amount of the capital stock of the company. [Assets.] Second-The property or assets held by the company, specifying: 1. The value of the real estate held by the company; 2. The amount of cash on hand and deposited in banks to the credit of the company, specifying the same; 3. The amount of loans secured by bond and mortgage on real estate, specifying the same; 4. Amount of loans secured by pledge of bonds, stocks, or other marketable securities as collateral, specifying the same; 5. Cash market value of all stocks and bonds owned by the company, specifying the same; 6. Interest due the company and unpaid; 7. Interest accrued, but not due; 8. Premium notes and loans in any form taken in payment of premiums on policies now in force; 9. Gross amount of premiums in process of collection and transmission on policies in force; 10. Gross amount of deferred premiums; 11. All other assets, specifying the same. [Liabilities.] Third-1. Claims for death losses and matured endowments due and unpaid; 2. Claims for death losses and matured endowments in process of adjustment or adjusted and not due; 3. Claims resisted by the company; 4. Amounts due and unpaid on annuity claims; 5. Trust funds on deposit or net present value of all outstanding policies, computed according to the American Experience Table of Mortality, with interest at the rate of four and one-half per cent per annum upon all outstanding risks written prior to January first, 1892, and according to the Combined Experience or Actuaries' Table of Mortality with interest at the rate of four per cent per annum upon all outstanding risks written from and after the thirty-first day of December, 1891, up to and including the thirty-first day of December, 1907, and according to the American Experience Table of Mortality with interest at the rate of three and one-half per cent per annum upon all outstanding risks written from and after December thirtyfirst, 1907; 6. Additional trust fund on deposit, or net present value of extra and special risks, including those on impaired lives; 7. Amount of all unpaid dividends of surplus percentage, bonuses, and other description of profits to policy-holders, and interest thereon; 8. Amount of any other liability to policy-holders or annuitants not included above. [Income.] Fourth-1. Cash received for premiums on new policies during the year; 2. Cash received for renewal of premiums during the year; 3. Cash received for purchase of annuities; 4. Cash received for all other premiums; 5. Cash received for interest on loans, specifying the same; 6. Rents received; 7. Cash received from all other sources, specifying the same; 8. Gross amount of notes taken on account of new premiums; 9. Gross amount of notes taken on account of renewal premiums. [Expenditures.] Fifth-1. Cash paid for losses; 2. Cash paid to annuitants; 3. Cash paid for lapsed, surrendered, and purchased policies; 4. Cash paid for dividends to policy-holders; 5. Cash paid for dividends to stockholders; 6. Cash paid for reinsurances; 7. Commission paid to agents; 8. Salaries and other compensation of officers and employees, except agents and medical examiners; 9. Medical examiners' fees and salaries; 10. Cash paid for taxes; 11. Cash paid for rents; 12. Cash paid for commuting commissions; 13. All other cash payments. Sixth-Balance sheet of premium note account. Seventh-Balance sheet of all the business of the company. Eighth-1. Total amount of insurance effected during the year on new policies; 2. Total amount of insurance effected during the year in the state of California; 3. Premiums received during the year on business done in the state of California. History: Former section repealed and present enacted March 8, 1907, § 614. STOCK NOTES [OF MUTUAL COMPANIES], HOW COMPUTED. Mutual companies formed, existing, and doing business under an act entitled "An act to provide for the incorporation of mutual insurance companies, passed April twenty-sixth, eighteen hundred and fifty-one, may report their approved stock as capital paid up, and such notes for all purposes must be deemed part of the paid-up capital stock of such corporation. History: Former section repealed and present enacted March 8, 1907, § 615. TO FURNISH BLANKS. The insurance commissioner must cause to be prepared, and furnish on demand to each of the companies printed forms of the statements herein required; and he may make such changes from time to time in the form of such statements and reports as seems to him best adapted to elicit from the companies a true exhibit of their condition. The same forms. must be so furnished on demand to all companies engaged in the same kind of business. History: Former section repealed and present enacted March 8, 1907, § 616. CONDITION OF DOING BUSINESS. AGENT UPON WHOM PROCESS MAY BE SERVED. The insurance commissioner must require, as a condition precedent to the transaction of insurance business in this state by any foreign insurance company, that such company file in his office a writing. designating the name of an agent, and his place of business in this state, on whom any notice provided by law or by any insurance policy, proof of loss, summons and other process may be served in all actions or other legal proceeding against such company. All notices, proof of loss, summons, or other process so served give jurisdiction over the person of such company. The agent so appointed and designated shall be deemed in law a general agent, and must be the principal agent of such company in this state; [Agreement or stipulation as to such agent.] Any such foreign company shall, as a further condition precedent to the transaction of insurance business. in this state, and in consideration of the privilege to transact such insurance business in this state, make and file with the insurance commissioner an agreement or stipulation, executed by the proper authorities of such company, in form and substance as follows: The (giving name of company) does hereby |