1. An insurance company may be organized under this chapter, but such a corporation may not: (a) Transact any such business within this State until it has first complied with all laws concerning or affecting the right to engage in such business; or (b) Infringe on the laws of any other state or country in which it may intend to engage in business, by so organizing under this chapter. 2. No stock fire insurance company, surety company, express company, trust company, stock savings and loan association or savings bank or corporation organized for the purpose of conducting a banking business may be organized under this chapter.
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