Note 237a-4 — Chapter III
John J. (John Joseph) Lalor translation
In France, every premium-insurance-company has to be approved by the government (Cod. de Comm., art 37), and the approval is not given until 1/5 of the joint-stock capital has been deposited. (Block, Dictionn. de l'administration, Fr. 153.) Many recent American laws require that the shares of insurance companies should be registered with the name of the owner.