Case Information
*1 ~FF~~EOF~EA'LTORNEY'G~NERALOF~~A~
AUSTIN Pear Stir ..,
sion next menti~mib r&a, that it
end oolleotad level p~dame, oontraoteQ
Eonorable 0. P. Lo&hart, Page P
no al& &se’sements~ ‘haW: sm?ip been needed~
or pada .,and that. the, probabflitle6. sre~ t&&t
no eaaesamenta vi.l.l. ever be'necided.
“Xq 1941. the Dompauy : snanded its aliar-
ter anix, br-lay 80’ as to ‘prvvlde .that
thenosf&th It oodld opera?% 88’8. legal
reserve iriutual. oomgmy; But it la stated
in the ‘Mm.ndod’eharter and.by-laws that the
amailments ‘were eff beted ,by the. Oompahy
without $bandoning.Its~right to operate
utqdei the other proe~,ai6ne .oi GsJiforni~
law uuder pihiah pr+vZouslg it had ‘been: ,tiy
ear orsted, lioansed and operatiingg ana
tha e further operations should be nith-
out &wgirrg or affecting In shy wag the,
old out stEinding poLieiee .
*It Is etated, that slnoe the amend-
ment a&l polloisa ,pow ‘fesuad, an& to be
issued in the rutu.26, are to be without
aaseeambnt poyera and upon the level pram-
ium, legal reserve ba,sis,’ providi.ng fok
unalterable sma oertalu In benefits.
520’ ‘We enoloa~+ hazewith &a-oer$iiied oopy of
9hq66~ aa amandatl and Bp4aw8 as amenbaa, whi,ah we iek you ts PebUn 6e w with polir
epiaien a8 to whe6har wdaP this plan OS
OQaqa6irm 6hfS ~qmkpany can 1awfuU.y .bS ad-
JtQe& to Texas as a mutwl ooapanp ‘opbrit
Fos on the old line ox? Legal rsrerve .ba~im* under ow ,br+la 475717.”
A%W.sle’ 6757, VQPIIM~~ Annotated Tetis GtrtZ Statubw ;, reada sis foli6wal
“No maoh. ftirei@~ life forrur&ee aim- panes, or ~3.We and aoaident, bealth~aixd ao1
oidan6, or ~life; health ana aaoident
inmarana~~ oompqny, shall traneaot any
bW&ien~ of inmrauae ia thl8 State, uulers
swh aompaqp ia poeserasd oi at leaat me
hundred thousand dollara of aotual~paid~ up
sash 5oney oapftal invested ia uuah tae’au-
rlbiaa ae~provlded under the laws of the
Btrafe, tiamitory Or oomtry Of its oree6ion.
JYa. mutW1 life ~inouranae OP auoidant izmm-
anae OaplPWi or llia.and aeoident, health
and aooidant,, o$ l.ir?, health and aooldent
iuaurataoe ‘ocm~paxty operatfng on the old’lina -of legal meerre basis, ahall traneaet any
b+aineas or ineu~~oa in thtrr State, unleae euoh aampesy Is posaeesed of at leant one
hundred t+oueand dollare of net eurplw
aaeet~s Invested in seaurities provided ror udar the Lawa of the State, terri6org or
oow6ry of its oreation.*
‘After a ,aareiul examination of the oharter and by-laws rubnltted UB by you with
~eforanoa to the above named oompa~y it ie ‘hour
521 opinian that sw,h ampany aan be Iawreallq admIttea WTamaa aa a mutual wmgany 0 6Pabing an the old Una as .lagaZ reoono baris un ar Artfola~ 4757, i Vu, A* @I. 8:,) 10 it posroroas wla not etlrplu8 r* 4737, and ir not othemiaa
@xed.by.~Arttele
air~mL&fied.
We are retuning herewith the instPoment8 you sent w with raiesanea to.ttil8 matbar.
Wm. a. Paoning; Aeaistent ATTORl?EY GENERAL 03 !J!ms