All stocks and other evidence of indebtedness, except such as are transferable by
delivery, held by insurance companies doing business in this state, as collateral
for moneys loaned or other obligations, shall be regularly assigned and transferred
over to said companies by the corporations or individuals issuing the same, and shall
be surrendered by such companies only when the obligations of the assignors shall
have been permanently and satisfactorily fulfilled and discharged.
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