40-208. Examination by commissioner before issuance of certificate.
106 words·~1 min read·
/ks/chapter-40/40-208A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
40-208. Examination by commissioner before issuance of certificate. Every insurance company organized under the laws of this state having fulfilled the conditions precedent required by this code shall notify the commissioner of insurance who shall, prior to issuing any certificate of authority, make an examination, or cause the same to be made by some disinterested person appointed by him for that purpose. The corporators or officers of such company shall be required to certify under oath to the person making such examination that the money, notes, stocks, bonds, mortgages, deeds of trust and all obligations exhibited to him are the bona fide property of the company.