INSURANCE. 291

copies of such process shall be served and the commissioner shall file one
copy, forward one copy to said attorney and return one copy with his ad-
mission of service. Subscribers at any reciprocal or inter-insurance ex-
change operating under the laws of this State may sue or be sued in the
declared name of such exchange.

An. Code, 1924, sec. 139. 1922, ch. 492, sec. 136. 1927, ch. 708, sec. 139.

139. Limit of Liability. There shall be filed with the Insurance Com-
missioner by such attorney, whenever the commissioner shall so require, a
statement under oath of such attorney showing the maximum amount of
indemnity upon a single fire insurance risk, and no subscriber shall assume
on a single fire insurance risk an amount greater than ten per cent, of the
net worth of such subscriber.

An. Code, 1924, sec. 140. 1922, ch. 492, sec. 137. 1927, ch. 708, sec. 140.

140. Reserves; Impairment of Assets. There shall at all times be
maintained assets in cash or securities authorized by the laws of the state
in which the principal office is located, for the investment of funds of in-
surance companies doing the same kind of business, an amount equal to
50 per cent, of premiums or deposits collected from subscribers on policies
having one year or less to run and pro rata on those for longer periods, or
in lieu thereof, one hundred per centum of the pro rata unearned premiums
or deposits collected from subscribers. In addition to the assets previously
provided in this section, in the case of employers' liability and workmen's
compensation insurance there shall be maintained a surplus of one hundred
thousand dollars ($100, 000) in cash or securities and not less than fifty
thousand dollars for all other kinds of insurance. There shall also be
maintained as a claim or loss reserve, cash or such securities sufficient to
discharge all liabilities on all outstanding losses arising under policies is-
sued; the same to be calculated in accordance with the laws of the state
relating to similar reserves for companies insuring similar risks. If at any
time the amounts on hand are less than the foregoing requirements, the
subscribers or their attorney for them shall make up the deficiency, and the
funds so advanced shall not be treated as a liability to the exchange and
shall not be withdrawn except with the approval of the supervising insur-
ance official of the state where the Exchange is domiciled, and such ad-
vances shall be repaid only out of the surplus funds of the Exchange.

An. Code, 1924, sec. 144. 1922, ch. 492, sec. 141. 1927, ch. 708, sec. 144.
144. Taxes and Pees; Agent's Licenses. In lieu of all other taxes,
licenses or fees whatever, state or local, such attorney, except such as shall
have the principal office located in this state, shall pay annually on account
of the transaction of such business in this state, a license fee of twenty-five
dollars and the same premium tax with the same deductions as is levied
against mutual companies transacting the same kind of business, and where
any such attorney shall appoint an agent, solicitor or representative to
solicit or negotiate contracts of insurance in this State; he shall first comply
with Section 61 of this Article, relating to, the appointment of agents and