The Mississippi Code of 1906 of the Public Statute Laws of the State of Mississippi, Prepared and Annotated by A. H. Whitfield, T. C. Catchings and W.

The Mississippi Code of 1906 of the Public Statute Laws of the State of Mississippi, Prepared and Annotated by A. H. Whitfield, T. C. Catchings and W.

By (author) 

List price: US$100.72

Currently unavailable

Add to wishlist

AbeBooks may have this title (opens in new window).

Try AbeBooks

Description

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1906 edition. Excerpt: ...has been paid by the stockholders for their respective shares, and the same is held as the capital of the company, invested, or to be invested, as herein required, such capital shall be invested only as follows: First. In first mortgages on real estate in this state. Second. In bonds of the United States or of any state whose bonds do not sell for less than par, or in loans secured by such bonds as collateral. Third. In the bonds or notes of any city, county or town of this state whose net indebtedness does not exceed six per cent of the last preceding valuation of property therein for purposes of taxation, or in any such bonds that are worth a premium in the market, or in loans secured by such bonds as collateral. Fourth. In real estate not exceeding twenty-five per cent of the company's net assets. Fifth. In stocks of banks or trust companies whose stocks are worth a premium in the market; provided, that a fire insurance company shall have at all times at least fifty thousand dollars invested under the first, second and third provisions before being permitted to invest under the fifth provision. There shall not be invested in such stocks, at any one time, more than fifteen per cent of the total assets of any such insurance company. A company organized under the laws of this state may invest its accumulations as follows, and may sell, change, or reinvest the same, or any part thereof at pleasure: 1. In United States, state, county or city bonds, if the market value of the bonds on the date of purchase is at least eighty per cent of their par value. 2. In bonds and mortgages upon unencumbered real estate, the market value of which real estate is at least double the amount loaned thereon, at the date of investment. If the amount of the loan shall...show more

Product details

  • Paperback | 978 pages
  • 189 x 246 x 49mm | 1,710g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236489691
  • 9781236489692