Farmers' Mutual Fire Insurance v. Cole

Citations

• 90 Miss. 508
• 43 So. 949

Syllabus

<p>1. Insurance. Fire insurance. Corporations. Right to do business in state. Statutory provisions. Code 1906', ch. 24. Code 1906, § 2564.</p> <p>A mutual fire insurance company, having no capital stock, incorporated under ch. 24, Code 1906, and empowered to insure the property of its members only, cannot compel the issuance to it of a certificate of authority to carry on the insurance business generally, under Code 1906, § 2564, providing for the grant of such a certificate to qualified companies desiring to do a general insurance business in the state.</p> <p>2. Same. Statutory right.</p> <p>The statutory right to transact business as an insurance company is the right to do a general business and not the restricted right of a mutual insurance company to insure its own members.</p>