The certificate of examination of a mutual company shall be to the effect that it has received and has in its actual possession:
1. The cash premiums.
2. Actual contracts of insurance upon property, belonging to the signers thereof, and upon which the insurance applied for can properly be issued.
3. Other securities, as the case may be, to the extent and value hereinbefore required.
[C97, § 1700; C24, 27, 31, 35, 39, § 8932; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 515.40]
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