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' I1 oO1leOtsa by 3' 40 sbnll be 009ered Into thes tastteat Te rTeaasxu cryo mtoam thieo n uder e* oe~ t aa provided in sootion4 E+- 2. Of State
calendar year next preceding; j , r . r , ~ . i d ~ r lt. hat i f Status ~. erlt~~ nt~ st~ irov~ iir cp rojert shall be con-any
insurance company nht~ ll have paid a prop- % trued, under tliir section, to be an encum-it
erty tax during said year, it shall he entitlrci bral~ ce on the real estate therein described; to deduct from the tax herein provided for the prrwidrd fsvlhrr, that all taxes, accr~~ eidnt er- amount of such property tax paid for general rst and due assessments or installments on the state pnrposes. The taxes and fees as provided said water right application are fully paid:
herein shall be in lieu of all other state. county providrd frrlhrr. that any lien created under
and municipal licenren and fern of every kind or pursuant to the statutes of Utah or of any
and chamrter. '-. p / .. other state of the United States relating to
drainage, irrigntion or water districts to secure R the payment of bonds issued by said drainage. Whenever the laws of any other state of the irrigation or water districts or the annunl
United States or foreign country shall require maintenance charges within such districts shall
from insurance companies organized under the not be construed to constitute an encumbrance
laws of thin state and doing buninens in such within the purview of thin section. Domestic
other state or country any deposit of securities insurance companies may, after complying with
for the protection of their policyholders or 0th. the provisions of this title, invest their addi-erwise,
or any payment of taxes, fines. penal- tional surplus or other funds in such securi- ties. fees for certificates of authority, license fees ties. or may loan upon or purchaae real estate
or mortgage bonds of railroad companies or-it
or otherwise, in larner amnunts or at higher rates
than required by the laws of this state for the ganized under the laws of said states or the
same purposes from similar companies organized District of Columbia. or any of them, or oper-under
the laws of such other state or country nted therein, or the stock. bonds. securities
and doing business in this state, or whenever or evidences of indebtedness created by any any conditions precedent to the right to do corporation or corporations created under the
business in such other state or country are laws of the United States or of this or any imposed by the laws thereof beyond those im- other state, except the stock of mining com-posed
by the laws of this state, then all such panies; provided, that no loan shall be made ~ imilarc ompanies of such other states or coun- or retained on any of the above mentioned tries doing buniness within this state shal: aecurities, except the bonds or stock8 issued
con~ ply with the same condltions precedent. or created by the United States or this state. exceeding ninety per cent of the market value and shall make deposits with the commissioner
thereof; prouided further, that no loan shall I and shall pay in this state taxes, finea, penaltie*.
lees for certificates of authority, license fees or be made by any company on its own stock.
otherwise, as a condition tn the issue of a li-cense
to them, computed upon the anme basis 11-
All bonds or other evidences of debt having . as those provided by the laws of such other
state or country. a fixed term and rate of interest held by any
in~ urance company, asfiessment life as~ ocia-
0- tion or fraternal beneficiary assmiation au-Mutual
and assessment companies shall, un- tsheocruirzeedd taon ddo nbouts inine sds einfa tuhlits assta tteo mparyin, ciifp aaml polyr
less otherwise specified in this title, be required intereat, be valued as follows: If purchased at to pay the same fees and be under the aame par, at the pnr value; if purchased above or
supervision and authority of the commissioner below par, on the basis of the purchase price
as stock compunien which are engaged in the adjusted so as to bring the value to par at ma- fame kind of insurance business; and shall turity and 80 as to yield in the meantime the
comply with this title, unless otherwise pro- effective rate of interest at which the purchase and be + subject to the penalties provided was made; pvouid~ d, that the purchase Price herein. in no case be taken at a higher figure than the actual market value at the time of
10- purchase; yrovidcd farti~ er, that the corn-
No insurance company shall trnnsact busi- missionel. of insurance shall have full discre-
new in this state unless it is possessed of the tion in determining the mcthod of calculatinR , actual amount of capital or guaranty funds as Recording to the fore~ oinuru le. required in section8 3, 6 and 6 of this chapter in cash, or invested in bonds or public stock issued or c r e a T e ~ t K EU nited Sthtes,- r by .. - L2- F.~ ~ ihe p"~ pi, adof making valuations of life I this state, or by any other state of the United insurance policies and of determininu the re- States or the Dlstrict of Columbia, or by anv nerves required to be maintained therefor under
or either of them, or hy any of the incorporated the of this title the rate of intereot cities, counties, townshipn, or other rnunici~> al assumed Rhall be 9% per cent per annum, and
Corporations thereof, or in bonds or notes se- the of mortality shall be established by : cured by mortgages or trust deeds on unen- the known the " American Experience
cumbered real estate located within said states Table of wOrtdify" fnr policirn h ~ e daf ter
or the District of Columbia, or either of t l ~ e n ~ ,
