REPORT OF THE COMMISSIONER OF INSURANCE.


takes effect, charge or eollect any premium or other coII)efl-
sation for or on account of any policy or contract of fire insur-
ance as herein defined, in excess of the maximum rate as here-
in provided for, but may write insurance of a less rate than
the maximum rate as herein provided for, provided, that when
insurance is written for less than the maximum rate, such
lesser rate shall be applicable to all risks of the same charac-
ter situated in the same community.
COMPANIES DEEMED TO GOME UNDER THE ACT
Section 3. Every fire, fire and marine, * * * fire and
tornado,          and each and every insurance company of
every kind and name issuing a contract or policy of insurance
or contracts or policies. of insurance against loss by fire on
property within this state, whether such property be fixed or
movable stationary or in transit, $ * X shall be deemed to
have accepted such certificate and to transact business there-
under, upon condition that it consents to the terms and provi-
sions of this Act and that it agrees to transact business in this
state subject thereto; it being intended that every contract or
policy of insurance against -the hazard of fire shall be issued
in accordance with the terms and provisions of this Act, and
the company issuing the same governed thereby, regardless of
the kind and character of such property.
STATE INSURANCE COMMISSION
Section 4. That there may be reasonable and just insurance
rates in Texas, there is hereby created a commission to be
known as the "State Insurance Commission," which shall be
composed of the commissioner of insurance and banking, who
shall be chairman thereof, and two commissioners who shall
be appointed by the governor by and with the consent of the
senate, subject to removal as provided  * * * by. article
3528 of the revised statutes.
DUTIES AND POWERS
Section 6. The state fire insurance commission shall have
the sole and exclusive power and authority, and it shall be its
duty to prescribe, fix, determine and promulgate the rates of