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Individuals, partnerships, trustees and all corporations of this Territory, herein designated “subscribers”, are hereby authorized to exchange reciprocal or interinsurance contracts with each other and with individuals, partnerships, trustees and corporations of other States, districts, provinces and countries, for any or all of the kinds of business for which a company may be formed or authorized to transact under the provisions of this title, except life insurance.
Such contracts and the exchange thereof and such subscribers, their attorneys in fact and representatives shall be regulated by this chapter, and by no other statute of this Territory relating to insurance, except as herein otherwise provided.