Colonial Mutual Compensation Insurance v. Mitchell

Petitioner duly organized under the Workmen’s Compensation Insurance Act as a limited mutual company. It applied to the respondent for a certificate of authority tendering for approval securities and cash in an amount of $25,000. May 22, 1934, respondent submitted the application to the attorney-general and thereafter the last-named official advised the insurance commissioner that a company commencing business must deposit a minimum of cash or securities in the amount of $100,000. Whereupon respondent refused petitioner the certificate of authority *653upon, the sole ground that, as directed hy…