Page:North Dakota Reports (vol. 2).pdf/70

 copy of said revocation to such company, and the agent or agents of such corporation, association or partnership, after such notice, shall discontinue the issuing of any new policies, or of the renewal of any policy previously issued; and such revocation shall not be set aside, nor any new certificate of authority be given, until satisfactory evidence shall have been furnished to said auditor that such corporation or association is, in substance or in fact, in the condition set forth in such statement or report, and that all requirements of said act have been fully complied with." Section 29, Id., expressly authorizes the commissioner, either in person or by representative, "whenever he shall deem it expedient to do so," to "examine into the affairs" of any company doing business in this state. Section 33 reads as follows: "And whenever it shall appear to said auditor from the report of the person or persons appointed by him that the affairs of any company not incorporated by the laws of this territory are in unsound condition he shall revoke the certificates granted in behalf of said company, and shall cause a notification thereof to be published in any newspaper of general circulation published at the capital, and mail a copy thereof to each agent of the company. The agent or agents of such company shall, after such notice, be required to discontinue the issuing of new policies, and the renewal of any policies previously issued." From these provisions of the statute it conclusively appears that the state, through its legislature, has seen fit to invest the commissioner of insurance with an absolute power and discretion with respect to granting insurance companies permits to do business within the state, and also with respect to revoking such permit after it has been once granted. With respect to granting the permit to do business, it does not suffice that a company is in fact solvent and has strictly complied with all legal prerequisites to the transaction of business. It can secure the permit only when the commissioner "is satisfied with the capital, securities and investments," etc. § 25, Id. Again, where a company has made the prescribed annual statement of its affairs and resources in good faith, and with entire truthfulness in fact, the commissioner may revoke any certificate of authority to do business given to