liability until and unless it possesses surplus of at least one hundred thousand dollars ($100,000.00) and not less in amount than the capital required of domestic stock insurance companies transacting the same kind of insurance. Investment of Assets.

Section 16. No such corporation shall invest any of its assets except in accordance with the laws of this state relating to the investment of funds of domestic stock insurance companies doing a similar business.

Reserves.

Section 17. Such corporation shall maintain unearned premium and other reserves, separately for each kind of insurance, upon such basis as is required of domestic stock companies, writing the same kind of insurance; provided, however, that any reserve for losses or claims based upon the premium income shall be computed upon the net premium income, after deducting any so-called dividend or premium returned or credited to the assured; provided, further, that where a state insurance fund is operated for insuring any of the kinds of insurance enumerated under section 7, then the reserves required of any mutual corporation for such kinds of insurance shall not be greater than the reserves required of the state fund.

Assessments-For Reserve Fund.

Section 18. Such corporation not possesed of assets at least equal to the unearned premium reserve and other liabilities shall make an assessment upon its members liable to assessment to provide for such deficiency, such assessment to be against each such member in proportion to such liability as may be expressed in his policy; provided, the State Insurance Board may, by written order, relieve the corporation from an assessment or other proceedings to restore such assets during the time fixed in such order.

Moneys Advanced.

Section 19. Any director, officer or member of any

such corporation, or any other person, may advance to such corporation any sum or sums of money necessary for the purpose of its business, or to enable it to comply with any of the requirements of the law, and such moneys and such interest thereon as may have been agreed upon, not exceeding ten per cent per annum, shall not be a riability or claim against the corporation or any of its assets except as herein provided, and shall be repaid only out of the surplus earnings of such corporation. No commission or promotion expenses shall be paid in connection with the advance of any such money to the corporation, and the amount of such advance shall be reported in each annual statement.

Annual Statement.

Section 20. The president or vice president, together with the secretary of each corporation organized or authorized to do business under this act, shall annually, on or before the 28th day of February of each year, prepare under oath, if required, and file with the State insurance Board a full, true and complete statement of the condition of the company on the 31st day of December of the preceding year, and in such form as shall be prescribed by said State Insurance Board.

When Foreign Companies Admitted Under this Act.

Section 21. When by the laws of any other state, district or territory any corporation is authorized to engage in the insurance business on the mutual plan in accordance with the laws of the state, district or territory in which the corporation is organized, it shall be admitted to do the kind of insurance business authorized by this act when it shall be solvent under this act and shall have complied with the following requirements, to-wit:

1. Filed with the State Insurance Board a duly certified copy of the charter and articles of association.

2. Paid the State Insurance Board a fee of twentyfive ($25.00)

3. Filed with the State Insurance Board a copy of its by-laws certified to by its secretary.

4. Appointed the State Insurance Board as a person upon whom process may be served, which when so served shall be of the same force and effect, as if served upon the company. This authority shall continue in force so long. as any liability remains outstanding in this state.

5. Filed a certificate of the State Insurance Board that said corporation is organized and authorized to do such business in the state, district, or territory in which it is incorporated.

6. Filed a financial statement, under oath, in such form as may be required and have complied with other provisions of law applicable to the filing of papers by and the audit and inspection of stock companies transacting the same kind of insurance.

Upon compliance by any foreign corporation with the provisions of this section, its application to do business in this state shall be approved by the State Insurance Board, and such Board shall issue to such corporation a permit, in writing, authorizing it to do business within the state. When legal process against any such corporation is served upon said State Insurance Board, it shall immediately notify the company of such service by registered letter, prepaid and directed to its home office, or such officer, or authorized representative as the company may direct, and enclose copy of the process served on it. The plaintiff in such process so served shall pay the State Insurance Board at the time of such service a fee of $2.00, which shall be recovered by him as a part of the taxable costs, if he prevails in the suit. The State Insurance Board shall keep a record of all processes served upon it, which record shall show the day and hour when such service was made. Provided, that the provisions of this act shall not apply to growing crops and farm property.

Approved April 3, 1915.

CHAPTER 226.

IRRIGATION LAW--How APPLIED.

AN ACT relating to irrigation districts.

Be It Enacted By the People of the State of Oklahoma: Irrigation Districts-Existing Canals and Ditches.

Section 1. Whenever fifty or a majority of the holders of title to lands susceptible of irrigation from a common source or combined sources and by the same system or combined systems of works desire to provide for the irrigation of the same, they may propose the organiation of an irrigation district under the provisions of this act, and when so organized, each district shall have the powers conferred or that may hereafter be conferred by law upon such irrigation district. Provided, that where ditches or canals have been constructed before the passage of this act of sufficient capacity to water the lands thereunder for which the water taken in such ditches is appropriated, such ditches and franchises and the land subject to be watered thereby, shall be exempt from operation of this law, except such district shall be formed to make purchase of such ditches, canals and franchises; provided, that this law shall not be construed to in any way affect the rights of ditches already constructed. Provided, further, that the term "elector" as used in this chapter shall include any resident of the State of Oklahoma, owning not less than ten acres of land within any district or proposed district, or any resident of the State of Oklahoma, holding a leasehold estate in not less than forty acres of state land within said district for a period of not less than five years from the date at which said elector seeks to exercise the elective franchise. Provided, however, when the elector is the owner of land in more than one division of the irrigation district and resides without the district, he shall be considered an elector in that division of the district in which the

majority of his land is situated. Provided, further, that the vote of any corporation holding title to land within the district may be cast by said corporation as a single land owner through any officer or agent of said corporation authorized by resolution by its board of directors A copy of such resolution certified by the secretary under the seal of the corporation shall be presented to the judges of election at the time the vote is cast.

District-How Formed.

Section 2. A petition shall be filed with the county board, signed by a majority of the said electors of the proposed district who shall own or hold leasehold estates in a majority of the whole number of acres belonging to, or held by the electors of the proposed district, which petition shall set forth and particularly describe the boundaries of said district and shall pray that the same be organized under the provisions of this act. The petitioners must accompany the petition with a map of the proposed district. Said map shall show the location of the proposed canal or the works by the means of which it is intended to irrigate the proposed district, and of all the canals situated within the boundaries of the proposed district; provided, canals that only pass through said lands, and which do not in fact irrigate any of the same, need not be shown. If the water supply be from natural streams, the flow of said stream or streams shall be stated in cubic feet per second. If the water supply for the district is to be gathered by storage reservoirs, the map shall show the location of the proposed reservoirs and shall give their capacity in acre feet. The map shall be drawn to a scale of two inches to the mile. Cross sections of the proposed canal, and all canals existing within the boundaries of the proposed district and shown on the map, and of all proposed dams and embankments, shall be given in sufficient number to show the contemplated mode of construction, and the capacity shall be given in cubic feet per second of the proposed and said existing canals. Such cross