of Oklahoma, requiring a four years' college course for graduation, and which has entrance requirements equivalent to a regular four year's high school course, and maintaining a course in education equivalent to the course of education in the University of Oklahoma, said course to be approved by the State Board of Education, shall, upon application to the State Superintendent of Public Instruction, and making proof of graduation from any such college and the completion of said course of study, be granted a life high school certificate of the same rank as is granted to the graduates of the State University for the same class of work.

Credit for College Work-Substitute for Examination.

Section 2. When any such college as referred to in section 1, of this Act, has esablished its course of study and the same has been approved by the State Board of Education, any credit made in such college, which would entitle the holder thereof to graduation in that subject may be substituted within three years from the time the credit is granted, in lieu of an examination on that subject on any teachers' certificate.

Approved March 3, 1915.

CHAPTER 61.

COURT CLERK AT CLEVELAND-POWERS-DUTIES.

(HOUSE BILL No. 86.)

AN ACT providing that the deputy clerk of the county court at Cleveland, Oklahoma, shall be custodian of the records of his office, and providing for the drawing of juries for the county court sessions at Cleveland, Pawnee county, amending section four and section seven of chapter thirty-six of the Session Laws of 1913, page sixty-nine, and declaring an emergency.

Be It Enacted by the People of the State of Oklahoma:

Section 1. That section 4, chapter 36, of the Session Laws of 1913, page 69, be and it is hereby amended to read as follows:

Deputy Clerk Custodian of Records.

"Section 4. The deputy clerk of the county court at Cleveland, shall keep all necessary papers, books and records of his office relating to any cause pending before said court at the office provided for said deputy clerk of the county court at Cleveland."

Separate Jury List-Town of Cleveland.

Section 2. That section 7, of chapter 36, of the Session Laws of 1913, page 69, be and it is hereby amended to read as follows:

"Section 7. The jury commissioners of Pawnee county are hereby authorized and directed in addition to the list of jurors to be selected in Pawnee county, to select for the county court at Cleveland an additional list of names of not less than one hundred persons or such number as the county judge may order." Emergency.

Section 3. For the preservation of the public peace, health and safety, an emergency is hereby declared to exist by reason whereof this Act shall take effect and be in force from and after its passage and approval. Approved March 3, 1915.

CHAPTER 68.

APPROPRIATION-STATE PENITENTIARY.

(HOUSE BILL No. 534.)

AN ACT making an appropriation for the care and maintenance of the State prisoners at McAlester, Oklahoma, for the fiscal year ending June 30, 1916, and for the fiscal year ending June 30, 1917.

Be It Enacted by the People of the State of Oklahoma:

Appropriation. Care of Prisoners.

Section 1. There is hereby appropriated out of the State Treasury of the state of Oklahoma, not otherwise appropriated, the sum of one hundred eighty thousand ($180,000.00) dollars, or so much thereof as may be necessary to use, for the care and maintenance of the state prisoners at McAlester, Oklahoma, for the fiscal year ending June 30, 1916, and one hundred eighty thousand ($180,000.00) dollars, or so much thereof as may be necessary to use for the fiscal year ending June 30, 1917.

Approved March 3, 1915.

CHAPTER 69.

LEGISLATURE-COMANCHE AND COTTON COUNTIES-NOMINAT

ING DISTRICTS.

(HOUSE BILL No. 423.)

AN ACT relating to certain nominating districts.

Be It Enacted by the People of the State of Oklahoma:

Representatives-How Nominated and Elected.

Section 1. The territory embraced in Comanche county, as said county existed on March 22, 1911, and as provided in section 8, of chapter 123, of the Session Laws of Oklahoma, 1910-1911, for the purpose of nominating candidates for representative, is hereby divided into two nominating districts, as follows: That part of said county now known as Cotton county shall be District No. 1; and that part of said county now known as Comanche county, as same existed on the above mentioned date, shall be District No. 2; provided, that during the third and fourth legislative period all of said territory above mentioned shall constitute a third nominating district, to be known as District No. 3; provided further, that all candidates nominated from said respective districts shall be elected from said entire territory at large.

Approved March 3, 1915.

CHAPTER 70.

INSURANCE MERGER OF COMPANIES.

(HOUSE BILL No. 47.)

AN ACT providing for the merger or the consolidation of two or more insurance companies, prescribing the duties of the Insurance Commissioner in connection therewith, providing that the Insurance Commissioner may prescribe certain rules and regulations, and declaring an emergency.

Be It Enacted by the People of the State of Oklahoma:

Merger of Domestic Companies-Approval of Insurance Commissioner.

Section 1. Any two or more insurance companies doing the same line of business, where one or all of them have been previously organized under the laws of this state may unite or consolidate upon a compliance with the terms of this Act and with approval of the State Insurance Commissioner.

Consent of Stockholders-Notice.

Section 2. Before any such consolidation shall take place the parties holding at least two-thirds of the capital stock of each of the companies shall vote in favor thereof at a separate meeting of the stockholders of each company called for such purpose. Such meeting may be called in the manner provided. in the by-laws of the respective companies or the laws under which such companies are organized, for calling special meetings of stockholders, except that each stockholder shall be notified by mail of the time, place and object of such meeting.

Manner of Consolidation.

Section 3. Such companies proposing to consolidate may unite their assets or any part thereof and become incorporated in one body under the name of any one or more of such companies or under any other name that may be agreed upon, and issue stock in such corporation to the stockholders of each of the companies consolidating, in the proportion that the value of their stock bears to the value of the entire assets to the new company, which values shall be agreed upon by the parties holding at least two-thirds of the stock of each company, and approved by the Insurance Commissioner; provided, that said stockholders (holding two-thirds of the stock) may at the meeting provided for in section 2 of this Act, delegate the valuation of assets to their board of directors respectively.

Purchase of Companies.

Section 4. Instead of the method provided in section 3 of this Act one company may take over all the assets of the other companies proposing to consolidate and issue stock to their stockholders in proportion that the value of their stock bears to the entire value of the assets of the company in which they were stockholders, and for this purpose the capital stock of such purchasing company may be increased, as now or may be her after provided by law.

New Charter.

Section 5. In case of a consolidation under section 3 of this Act the Secretary of State shall upon proofs furnished of a compliance herewith and after the same has been approved by the Insurance Commissioner as hereinafter provided, and upon the filing of articles of incorporation and other due proceedings had as required by the laws of this state, issue and deliver a charter to such new company.

Consolidation of Domestic With Foreign Company.

Section 6. Where any consolidation is attempted between a company or companies organized under the laws of this state and any company or companies organized under the laws of any other state, such companies in addition to complying with the provisions of this Act shall be required to comply with the law of the state where such foreign company or companies were organized.

Overplus Stock-Distribution.

Section 7. If the parties holding two-thirds of the stock of each of such companies shall determine by resolution, at the meeting provided for by section 2 of this Act, that the combined assets thereof are more than should be invested in the capital stock and surplus of such re-organized company they may provide for a distribution to the stockholders of the overplus, according to the amount of shares held by each or may arrange for any stockholder who so desires to cancel and surrender his stock and receive the value thereof as fixed by the stockholders or directors, and the Insurance Commissioner of this state, under the terms of this Act, but in no case shall the amount of capital stock of the re-organized company be less than required by law for the organization of a new company.

Creditors-Liability of New Company.

Section 8. Such consolidation shall work a dissolution of of the companies absorbed but shall in no wise prejudice the right of any creditors of any such corporation to have payment of his debt out of the assets and property thereof, nor shall any creditor be thereby deprived of, nor prejudiced in any right. of action then pending or existing or which may thereafter arise against said company, and service of summons on the proper officers or agents of such new or re-organized corporation shall be deemed sufficient as to all or any of such companies. Policies of Consolidating Companies-Validity.

Section 9. All policies of insurance outstanding against all of such companies shall by reason of such consolidation be assumed by the re-organized company, and they shall carry out the terms of such policy on the part of the insurer and be entitled to all the rights and privileges thereof, and the reserves accumulating on such policy prior to such consolidation.