Chap. 140.—An ACT to provide that every alien casualty insurance company shall
have a deposit of not less than $200.000 in the United States, dedicated to its
business and liabilities in the United States.

Approved January 27, 1898.

1. Be it enacted by the general assembly of Virginia, That no foreign
casualty insurance company, incorporated or associated under the laws
of any government or state other than the United States, or one of the
United States, shall be licensed to do business in this state until, be-
sides complying with the provisions of the law relating to the admission
of companies of other states, it has in the hands of trustees, who shall
be citizens and residents of the United States, or with the treasurer of
this state, or with the financial officer or insurance commissioner of some
one of the other states of the United States, a deposit of not less than
two hundred thousand dollars; such deposit must be in exclusive trust
for the benefit and security of all of the policy holders and creditors of
such company in the United States, and may be in securities under the
same restrictions as the investments of companies of other states.

2. When such deposit shall have been made in some one of the states,
other than this state, the deposit so made shall be deemed and treated as
the capital stock of such foreign casualty insurance company, on which
the treasurer shall estimate the five per centum deposit required to be
made by section twelve hundred and seventy-one of the code of Virginia,
as amended by acts of the general assembly, approved January the four-
teenth, eighteen hundred and ninety, and March the third, eighteen
hundred and ninety, for the protection of the policy holders and creditors
of such company in this state.

3. This law shall take effect froin the date of its passage.