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 Scisnces 
 Corporation 
 
 
 23 WEST MAIN STREET 
 
 WEBSTER, N.Y. 14580 
 
 (716) 872-4503 
 
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^^ 
 
STATUTORY REQUIREMENTS 
 
 ItEI.ATINO TO 
 
 INSUKANCE 
 
 IN TlIK 
 
 UNITED STATES AND CAN AD AS. 
 
 COMPHISINO ALL THE ReQUIRKMKNTS NECESSARY FOR THE ADMISSION AND TRANS- 
 action of btlbinkss in the states and in canada, by fire, 
 Life, and Casualty Insurance Companies of other _ 
 States and Foreion Countries. 
 
 CORRECTED TO DECEMBER I, 1889. 
 
 HARTFORD, CONN.: 
 
 Published by The Insurance Journal. 
 
 1889. 
 
 "Mr..: V- 
 

 
 
 Entered, according to Act of ConBresg, In the year 1889, 
 
 BY H. R. HAYDEN, 
 In the Office of the Librarian of CongredB, at WflshlnRton. 
 
 T/u Com, Lockwood «6 JBrainara Company, Bartford, Conn. 
 
■k 
 
 
 
 ABSTRACT OF STATUTORY REQUIREMENTS 
 
 OK THE SEVERAL STATES AN'n CANADA, 
 
 RELATING TO mSURANCE. 
 
 1S89, 
 
 riKton. 
 
 N. B. — The reqnlruinnDtii In reffronce to Domeotlc Compuilti tra not Included herein. 
 Foreign Coropanleit hh clnMlfled herelu are Cumpanlui ezlitInK under •uthorlty of Kovern- 
 mente fureign tu the United States.* 
 
 ALABAMA. 
 
 (LeglHlutnr* meets bleuulallj. Next session Nov. 4, 1800.] 
 Cyrus D. Hoque, Auditor of State, Montooheky. 
 
 Adnitnnion. — Every company desiring to transact business in 
 this State, before adnaission, must pay into the State treasury one 
 hundred dollar?, must tile with the Auditor a certified cop/ of its 
 charter or deed of settlement, a statement under the oath of the Presi- 
 dent and Secretary, or other chief officers or managers, showing the 
 name and location of the company, the amount of its capital stock, the 
 amount therefor paid in, and the financial condition of the company 
 on the preceding 31st day of December, a written instrument under 
 seal, designating a known place of business and an agent or agents 
 therein, authorizing the agents of the company to acknowledge service 
 of process for and in behalf of the company, and consenting that service 
 of process upon any such agenta shall be taken and held as if served 
 upon the company, and waiving all claim of error by reason of such 
 service. It must also file at the office of the Secretary of State and with 
 the auditor, an instrument in writing designating at least cne known 
 place of business in the State, and an authorized agent residing thereat. 
 
 f!erti/ienteM and ^^«?n«S. — Every agent of a life insurance 
 company before transacting business shall procure from the Auditor 
 a certificate of authority, and file such certificate, together with a copy 
 of the statement and written instrument filed with the Auditor, in the 
 oflBce of the Judge of Probate of the county in which the ofiice of such 
 agent is located. Such certificate shall be renewed annually in July, 
 and shall be annually filed, with a copy of statement, in the ofiice of 
 the Judge of Probate. 
 
 Fire and Marine, — Every company must possess at least one 
 hundred thousand dollars of actual cash capital invested as required 
 
 i, Conn. 
 
4 ALABAMA. 
 
 l)y the lawRof tho 8t«to whom organized. Annual statementii nhall 
 b« lUod on tho 10th day of Jamiary. in tiach y.-iir, or within Ihirtv 
 uays thoieaftor, showing tho con.lition of the company on tho procod- 
 ing aiHt day of Uox^eyibir. Tho roinsuranco fund Hhall bn llfty per 
 cent of tho amount rocoivod for proniiums on all unexpired riHkg 
 
 kach company Hhall receive a cortilicatn authorizing it to do bum- 
 nessin the Htate. which shall expire on tho 15th day of January in 
 oach year, and shall be renewed annually in January. Whenever it 
 shall appear to the Auditor that tho assets of tho company, after pro- 
 vidinir for all liabilities, are reduced more than twenty-five per cent, 
 below the capital stock, ho shall revoke iho authority of such company 
 or its agents to do business in tho State, and publish such reymiation 
 in one or more newspapers of general circulation published in the 
 SUte. 
 
 T,lfc; — (('ertificateii and Agents.) .. . t i 
 
 Every company shall file with tho Auditor in the month of July 
 in each year an annual statement giving the name and locality of the 
 company, amount of capital, amount of capital paid in, and shall state 
 therein the gross premiums received in this State for tho year, includ- 
 ing notes, accounts, and all other Jiings received or agreed upon, 
 as compensation for insurance. Also state therein the amount of taxes 
 and licenses paid in each county and ('.lo amount of funds invested m 
 
 * ''tIio statement shall bo verified by fne certificate of the President 
 and Secretary, or Actuary, under oath, and tho seal of the company. 
 Every company which shall invest and keep invested in Alabama 
 the net reserve upon policies issued upon the lives of citizens of that 
 State shall bo regarded as a Home company and entit od to all the 
 privileges of companies incorporated under the laws of that State. 
 
 F«i'c/</M. — Every company doing business in this State shall 
 file with the Auditor a certificato of the Treasurer of this State or of 
 the proper officer of some other State or of the United States that he 
 holds on deposit and in trust for the benefit of all the policy-holders of 
 such company in the United States, properly invested ?««""^>^8 7«^J^ 
 at least two, hundred thousand dollars. Such companies shall file the 
 same statements as are required of Piro and Marine company. 
 
 rArenHeM. — 'Every agent, before taking any risks in the city 
 or cmnuy of Mobile, is required to pay to the Kiro Department Asso- 
 ciation of Mobile, the sum of two hundred dollars, such paymen to 
 l>e made annually. Kvery agent taking risks or transacting any busi- 
 ness of insurance in any other incorporated city or town m the State 
 where there is or shall be fire companies, shall pay to such city or town 
 annually, the sum of two hundred dollars, for the benefit of such com- 
 pauies. 
 
 I,v,.s._ Every insurance company shall pay an annual license fee 
 to the treasurer of one hundred dollars. For every statement filed 
 with any Judge of Probate, five dollars. 
 
 Taa-PM —The agents of every insurance company, in the month 
 of Jammry in each year, must deposit with the Assessor of the county 
 
ALABAMA. 
 
 nentfl nhall 
 thin lliirty 
 Llio prucou- 
 )<) lifly per 
 riflks. 
 
 to do buBi- 
 January iu 
 'lionevor it 
 , aftor pro- 
 re per cent, 
 ih company 
 1 revwifttion 
 i;.ed in the 
 
 nth of July 
 ality of the 
 I shall state 
 'ear, includ- 
 jreeJ upon, 
 unt of taxes 
 invested in 
 
 le President 
 le company, 
 in Alabama 
 zcns of that 
 id to all the 
 at State. 
 
 I State shall 
 I State or of 
 tates that he 
 ly-holders of 
 irities worth 
 shall file the 
 )any. 
 
 i in the city 
 ■tmont Asso- 
 i payment to 
 ing any busi- 
 in the State, 
 city or town 
 of such com- 
 
 al license fee 
 aten.cnt filed 
 
 in the month 
 of the county 
 
 in which the ofBco of the agent is Im^atod a .latement vorifi.d by the 
 oath :.f Huch agent, Hl.owu.g tho gron- anu.unt of l-p;'"'''';™, [ 
 by Hurli agnnt for any company for ll.o tax year, wuh a Bt.iti)mm,t of 
 oxtKjnilitures, losses paid, and rutuinod pniuuuma. 
 
 Al such prorniums are subject to a tax of one iK,r cent, after de. 
 du.-ti.ur^(H,SditureH, return premiums, an.i Iohhoh, for the payment 
 o w ich tlx the ag;nt is held renpouHible. Any ag..nt or con.pany 
 ?of.rsirg to imy taxes is forever debarred from doing business m the 
 State. 
 
 l»MiameH.- Agents doing business for a company without com- 
 plyiJgwSAhe provisions of law are liable to line or imprmonmont^ 
 TlK higTie.Ht line impoHe.l is one thousand dollars The longest to m 
 of imprisonment, six months. Agents are also liable for taxes and for 
 losses incurred unless they have complied with *'»' law^ 
 
 All agent is defined as any person who Holicits insurance on behalf 
 of any insurance company not organized un.ler. or mcorpo^^^^^^^ 
 the laws of this State, or who takes or transm ts, other than for hiiii^ 
 B If anrapplication for insurance, or any policy of msurance, to or 
 from such company, or who advertises, or otherwise gives noti<;o, that 
 he w II rlTvo or transmit the same, or who shall receive or deliver a 
 ohcy ofTn^urance of any such company, or who shall «^amine or in- 
 E anv risk or receive or collect, or transmit any premium of insur- 
 ance or make or forward any diagram of any building or buildings, 
 old; or perform any other act or thing in the making or consun.ma^- 
 g of Ly contract of insurance for or with any such insurance com- 
 nanv other than for himself, or who shall examine .no or adjust, or 
 Ldin adjust K, any loss for or on behalf of any such msuranm com- 
 patr whither ^ny of such acts shall l« done at the instance or re- 
 SS or by the employment of such insurance company, or of or by 
 2ny broker! or other^erson, shall be lu-ld to he the agent of the com- 
 pany for which the act is done, or the risk is taken. 
 
 ASSESSMENT INBOBANOK. 
 
 ><«7m<«»'<«W. — Assessment companies must file with Auditor 
 Btat^lnfof busUiesB for year ending previous to December 31st. 
 Auditor will furnish blanks for statements. 
 
 A^^^^,»1 «//»/*• »»*'*ii«.— Statements are to be made on or he- 
 foreiJJSh*?slKcryeS'ol business of previous year, upon blanks 
 furnished by Auditor. ■ 
 
 j«^»,/i. ««// Attorneih — ^omB place in the State must be 
 designSfas principal'Sralft some perLn named there to accept 
 service of process, if the person thus designated shall die, the 
 rrancv mu?t be filled within thirty days. Notice of any change of 
 nkce or Trson shall be given. These appointments and changes are 
 t^ ma?e under the hand of the President and Secretary, and are to 
 be fileJ in the Auditor's office. 
 
 Taxesi and Fees.- Every such company shall pay to the State 
 Treasurer one hundred dollars, same as other companies. 
 
6 A KK ANSA 8. 
 
 Pettnltb'H, — Fur neglect to comply witii law, or for niKking any 
 fulMK utile iiiiMi. a ]H<naUy i»hal! lie oxiiotwl, on conviction, of not less 
 than onu liurulrud or more than (Ivo liundrixl ilollan. 
 
 ARKANSAS. 
 
 (Irf-KiiUtur* me«ti liltiiinUlly. N«it*«uli>ii J«n., IROl.] 
 
 W. S. DuNLOP, Auditor and [na. Cummunioner, LiTTM Rooc. 
 
 AdmlHHlitn. — Every inBumnco company duRiring to transact 
 buflinvHS in this Ulatu, Inifuru adniJHHion muHt liavo a HubHcnbud capi- 
 tal of ono hundred thouHand <ioliura, with a puid-up ca|iitul of lifty 
 thousand dollars, and must file vyilh the Htate Auditor — 
 
 A cortKied copy of its charter. 
 
 A cortihcatu giving thu dato of its organization, and location of its 
 princi[)ul oflice. 
 
 A statement veriflod by the signuturn and oath of thu ['resident or 
 Vice-Presitlout, and Secretary or Actuary of iho company, showing its 
 condition and business on tho pruci-diiig thirty-ilrst duy of December. 
 
 A written stipulation duly autlienticated by the company, agreeing 
 that any legal process affecting the comj)any, served on the Auditor or 
 party designated by him, or the agent sjwcilied by tho company to re- 
 ceive service of process, shall have t''o same otfect as if served j)er- 
 sonally on the company within this State. Such slipulution cannot be 
 modified or revoked, except that a new ono may be .substituted re(|uir- 
 ing or dispensing with service at the ofBce of the company in this 
 State. 
 
 CevtfflvateH and Aaetitn, — Every comimny comi)lying with 
 the requirements of law shall receive! from the Auditor a ceitidcate of 
 authority. Each company authorized to do business in this State sholl 
 certify to the Auditor the names of all agontn appointed in this State. 
 The Auditor shall issue to each agent a certificate of authority, show- 
 ing that the company is authorized to do busim^ss in the State, and 
 that bo is appointed its agent. 
 
 Kjratninat ions and Impairmi'ntH. — Tho Auditor, for 
 probable cause, may visit and investigate the affaiis of any company 
 doing business in this State, at its principal office, wherever it may be 
 (not of a State where the substantial provisions of the ''.Act to estab- 
 lish an Insurance Bureau " of this State shall be enacted). He may 
 revoke its certificate if the reasons for granting it no longer exist, or 
 if examination be not permitted. 
 
 If after charging a fire and marine company with a legal re insur- 
 ance reserve and all other liabilities its capital 3tock is impainnJ twenty" 
 per centum, the Auditor shall require the company to uiake good its 
 whole capital stock within sixty days, and if this is not done ho shall 
 require the company to cease to do business within the State. 
 
 If any life insurance company has not assets, after providing for 
 
 5_- 
 
A UK A N.MAS. 
 
 r milking any 
 t!, of not lew 
 
 i.R Rook. 
 
 g U) transAct 
 McnbiHl cupi- 
 kpitul of fifty 
 
 ocation of its 
 
 I'rusiilunt or 
 r, iJhowing its 
 >f I)«)c«inl)«r. 
 iiiy, ftgr<>i)ing 
 i« AiitlitDr or 
 rii|)any to ro- 
 f servud pt^r- 
 on (;aiiiiot bo 
 itutoil n'<|uir- 
 ptuiy ill this 
 
 mplyiiiff with 
 coitidcuto of 
 JH Statu aliall 
 in tins Statu, 
 liority, show- 
 le Statu, and 
 
 Auditor, for 
 iny company 
 ur it may be 
 ."Xct to ostab- 
 !). n« may 
 gcr exist, or 
 
 gal re iiisur- 
 ainnJ twenty' 
 lako good itB 
 lone ho shall 
 &te. 
 roviding for 
 
 all liabilitiuB ox« hwivo of capital Htock, u.|iial to tho nut valim ot all Ita 
 policiMi in forou. thu Auditor nhall piibliMli tiin fact that thu condition 
 of tho company i* Iwlow t)w standard of Hwfcty cHtablinhcd by this 
 HUt«, and roquiru th.^ ( oinpany to cuattu doing now huHinuM in thin 
 Bute. 
 
 Flff null Hftrtn*', — Annual iitatoinonta, vpridud by tho nig- 
 natiiro and oath of tin- IVoHidont or Vic I'rcnidi'nt and S«'crotary of 
 the company, Mhail bo liiod on tb.- flr^t day of January in .<ach yoar, 
 or within wixty days timrcaftcr, ami nhail nhow thu condition of tho 
 company on the pn-cinling :nr.t day of Doconibflr, and its buMinims for 
 the year prccciling. 
 
 Arkannas han a vaiuod-policy law. 
 
 Thfl reiimurancu fund HJiall !•« computed at fifty per centum of all 
 premiums on unuxpirod tiru risks having hwi than ono year to run; 
 pro raU of all prumiutns on unoxpire<l fire risks havinw more than ono 
 year to run; tho ontiro premiums received on unexpired marine and 
 inland risks. When the re insurance fund, thuH<-alculatpd, is less than 
 forty per centum of all premiums roceive<l during the year, then tho 
 wholo of the premium rocoived on unexpired risks shall constitute the 
 ro-insuranco fund. 
 
 Life. — Annual statements must be filed on the* first ilay of Jan- 
 uary in each year, or within si.xty days thereafter, showing tho c(mdi- 
 tion of tho company on the preceding aist day of IXcember 
 
 Such statements must be iiccompaiiiutl by u nchedule of all policies 
 in force in the company, if the certificate hereinafter imuitioned is not 
 
 furnished. 
 
 The Auditor is ro(}uired to annually value the policies of all com- 
 panics <loing business in the State which do not furnish the c«<rtificate 
 of the Insurance (JommisHioner of the State under whoso authority 
 the comiMiny is organized, showing the not value of oil policies in force 
 in such company, calculated upon tho basis established by this State, 
 and stating that, after being charged with all debts and claims, the 
 company had in safe securities an amount equal to tho net value of its 
 policies in force, and that the company is entitled to do business in ita 
 own State. 
 
 The standard of valuation in this State is the American Experi- 
 ence Table of Mortality, and four and a half per centum interest per 
 annum. 
 
 Foreian. Foreign companies shall transmit an annual state- 
 ment of their business other than that done in the United States, prior 
 to the first day of July in each year. 
 
 Taxes, Every company shall make a report to the Auditor at 
 
 ,he time of filing its annual sUtemont, under oath of its President, 
 i^ecretary. or agent, showing the entire amount of premiums received 
 in this State during tho year ending on the preceding 3l8t day of 
 December, and after deducting losses and commissions therefrom shall 
 pay into the StatQ treasury on or before the first day of March a tax 
 of two an one-half per centum upon such premiums. 
 
 Municipal licenses and taxes prohibited. 
 
 K 
 
m 
 
 § OAMKOUNIA. 
 
 |iVr»». — Klllng oh»rt«r, flftiwn «lnll»M. 
 
 Kiiiiiic nUtoiiu'iil of cortifkati*, t*.n dollara. 
 
 Cortillroto of RUfliorilv, lw> dollarn. 
 
 Kv«ry <o|»y of any i»i»or on llUi in iI>b ln»turftnc« Hur.'»n, |H>r folio, 
 Iwonty c«nU. 
 
 AfflxiiiK ofBclftI Mai and cortifyinR nuch <!<)j>y, oim «l..ll»r. 
 
 ValuiiiK lif« policittn, for iwh oim* tliouwinil (Itillarii of intumDM 
 vulin'tl, i\ Hittn not to oxriMid tlinui cttnt*. 
 
 Olllciftl oxaminationd, the lu-tual oxjM'nm'n incurrml. 
 
 Travtilinn hki'IUh nxiuimtl to piiy a licieinii Uw of ono hundrod <lol- 
 lam for «ach yuar or fra«tioii of a y«ar. Tlio yvar ImginH May l«t. 
 
 |'^•HOl^tl'M. — ^tiy com|tany nonlectinK to niaku and transmit 
 any Miatoiiumt n'<iuire<l, shall forfttit ono hundred dollara for oa<!hday'B 
 nonli'Ct. Any poriton or corporation traMMaotinK tho hu«iin«it« of inmir- 
 anc« without complying with the roquinmuMits of law iihall forfoil and 
 pay to tho school fund five hiindr«<l dollars for owh month or fraction 
 thi>ro(.f Huch illoKal businosM is done, and evt^ry such {Msrson or |>er«ona 
 or coriK)ratio.i shall also ho <l«omod Kuilty of a misdenioanor, and 
 uiM.n conviction, shall he Hnod in any sum not loss that flvo hundrinl 
 dollan". Any offlcor or agonl doinn hiisinoss who shall mako any fidwi 
 •tat.imonts, roproHwiilfttions, or protonses, for tho purpow* of ohtftining 
 business, shiill bo j/uilty of a folony, and on conviction sontoncod to 
 thfl i)cuitontiary not loss than throo nor more than ten yoari. 
 
 A8BKH8MENT INHUHANOB. 
 
 Traveling agents are roquirod to pay one hundred dollars for 
 liconse for each yeiir or fraction thoroof . Year ends A {)ril 30th. T*>«ro 
 aro no special laws roKvdating ttssossmcnt insurance, except that all 
 mutual or assossment companies shall give bonds to bo approved by 
 tho Secretary of Stato in the sum of twenty thousand dollars for the 
 prompt payment of assessments to beneficiaries. 
 
 CALIFORNIA. 
 
 [L*KlilMiira me«ti biennially. Naxt MMlon Jan. 5, 1801.) 
 J. C. L. Wadswortu, Imurance Commissioner, San Fhanoisco. 
 
 After April 1, 1890, J. N. E. Wilson will be inBuranc^ 
 commissioner. 
 
 .4flm/^«/on.— Every stock company desiring to transact busi- 
 ness of insurance in this State must, before admission, possess an 
 unimpaired capital stock of not less than two hundred thousand dol- 
 lars, and every mutual company must possess available cash assets 
 over and above all liabilities, amounting to two hundred thousand dol- 
 lars and must file with tlie Insurance Commissioner a certified copy of 
 its charter or articles of incorporation ; a certificate from the proper 
 State official showing that the company is duly organized and pos- 
 
OAUrORNIA. 
 
 hir<i«u, |N)r (ulio, 
 
 (totlHr. 
 
 trH (if iimurAncu 
 
 iiio hundrnd dni- 
 ^itiH May l«t. 
 
 ko and tratiMmtt 
 ira for each day's 
 )Urti»o«M of iniur- 
 Mhall forfoit and 
 lonlh or fraction 
 wmon or {wruona 
 imluntoanor, and, 
 hat tivu htindriHl 
 II makt) any false 
 K)Ho of ohtnininK 
 :ion Hontoucod to 
 n yoari. 
 
 drod dollars for 
 pril 30th. Thori) 
 ), oxcupt that all 
 ) bo approved by 
 id doUan for the 
 
 1801.1 
 
 lN FltANOIgOO. 
 
 ill be insurance 
 
 to transact busi- 
 lesion, possess an 
 red thousand dol- 
 ilablo cash assets 
 Ired thousand dol- 
 a certified copy of 
 } from the proper 
 rganized and pos- 
 
 ir 
 
 MiMitm tlu' .npilnl iilo«k or euMvla rfiquiratl by this MtaK^ ; a ittRHimi»nt 
 of itmonilltinn and afTaint on Ihn prMMling aUt dny of I)«<i-ml«'r. 
 veritti»l by tiu) oaf h of its prini;ip«! eswcuUve ot!ii'«r ; a utatmimnt of 
 lht< iiHfnoiiii.i pltt.«of r«'i»id«'n{i« of iioni't ft><nnt in lhi» Htato ii|M)n whom 
 priMowi <if law may bu «)rviid in ai'y Ii-khI pnwuodnno* iiKaini«t tliM 
 company ; priK-Miw m) norvt'd kiv«'* Jiirwdictioii ov<t tlm p«'r«<>ii <if (tiich 
 cor|H)ralion «r company 'riiii ai'unt no »pp<piiii<»i uii'l lU'itiKnahMl mIihII 
 Ih) doiiini'd iti law a gonornl animt, and muMt !»' ih.- principal iiKt<ril ur 
 chii'f mmiiijiC"'" '>' '''«• biwinflsn of such cor|K)mtion or com|)any in thin 
 Hlato. 
 
 K.vory Hiich company m a condition prt'ciuhuit to th» transa'- 'on «»f 
 inmirancM bunlnci«H, and in i.onHid<Tiiti<m <>f Ih" privih'K" to ..anwu^t 
 ■uoh buiiin.mii, iihall utipiilatn that if at any tiino mich ci.mpa ly nIiuII 
 
 bo without an a^t^nt in tlio Stato upon whom pn hh may bo •HcryiMJ. 
 
 that wirvico may Ik) inado ujx)n tho InHurimco ('oininiNHiDimr, Thn 
 Inauranco OomminMionor numt, within ion days aft. r such mirv.cn upim 
 him. transmit the Hummoiii or logal process to the company. 
 
 If any action, rommnnciid in this Stat« by a citizen thoroof in thn 
 Htato Court aKaiimt such company, bo traiiMft.rrod to the Umtixl .Stages 
 Circuit (-'ouit, the rijrht of kiicIi company to do buMinosM in tho Hfato 
 shall thoHMipon coaw, and tho (Jomn.iMHionorHhall lovoko iiH <-orlillcato 
 of authority. 
 
 Kv»iry such company must also fllo with fh« Insuranco Commm- 
 sioncr a bond »\t!;im\ by an olllcor or oKont of tho company, with two 
 surotioH to bo approvod by tho Insurance CommiHsionor, in tho penal 
 sum of two thousand dollarM, condilioncd that tho company or iiKont 
 will pay U) tho projwr oflicor, <|iiartorly in iutvanc«(, such licotiMo.s, foos, 
 or taxoH as shall 1m« innwsod by law, that such company or axiuit will 
 pay to tho Mtato all stamp and other dutios imposed by law, in thn 
 time and manner proHcribed by law ; and that such company or agent 
 will conform to all tho provirtions of law miido to govern thorn. (The 
 general agent is nuiuirod to execute and (ilo this bond.) 
 
 All statonuuitH, ixtrcniitagos, estimates, payments, and cahnilations 
 must be made in gold coin of tho United States. 
 
 CeHtfleateH find Af/«/lf«.— Every general agent thus ap- 
 minted shall procure from tho ('ommissioner a certillcato of authority 
 before transacting business in this Htate. 
 
 Before nu-eiving a solicitor's license, if any life insurance solicitor 
 shall hif.vo been in tho employ of any other company within twelve 
 months, he shall produce written evidence to tho Commissioner that 
 all moneys ho has received for any such company have boon paid to 
 it, or to its general agent. 
 
 Every life insurance solicitor shall file witli the Commissioner a 
 power of attorney authorizing such solicitor to act for the company, 
 and shall receive a license from the Commissioner. 
 
 All corporations or persons doing tho business of ins'iranco in this 
 State must make and file with tho In.suranco Commissioner, on or 
 before the 15th day of January of each year, a statement verified by 
 the oath of the principal officer or manager residing in this .State, 
 showing the business done in this SUte during the year ending tho 
 31 St day of December tlien next preceding. 
 
I ; 
 
 iL 
 
 10 
 
 CALIFORNIA. 
 
 Examinations and ImpatrmentH.— Tho Commis- 
 sioner, whoiiovor ho deems it necessary, may examine any company 
 transacting business in this State. Such exfimihation must b.j private, 
 unloss theCommissiopor deems it necessary to publish the result there- 
 of, in which case he may publish the same in two newspapers of this 
 State, one of which must be published in San Francisco. If any com- 
 pany 'shall be found to be insolvent, the Commissioner must revoke the 
 certificatvfs grunted in behalf of such company, and give notice by mail 
 or personally of such revocation, and cause notice thereof to. bo tiled in 
 his ofBco, and published daily for four weeks in some nowKpapor pub- 
 lished in San Frn^ncisco. Such company nuist not thereafter issue any 
 nev policies or renew any previously issued. 
 
 Any company is insolvent when, aftoi pro\iding tor all claims and 
 liabilities outstanding, and the amount required by tht laws of this 
 State for a re-insuranco fund or premium reserve, the capital stock ol 
 such company is reduced below two h>ind-ed thousand tioUars, or 
 below seventy five per cent, of the amount of said capital si ,^k paid 
 in cash ; or if it be a mutual compftny, if the available casii asaets do 
 not exceed its liabilities as aforesaid, two hundred thousand doPv.rs. 
 
 JE^ire and Marine. — Annual statements of other State com- 
 panies mvisl bo filed on or before the tenth day of March in each year, 
 and show the condition and atiairs of the company on the preceding 
 3) St day of December. Such statement nmst bo published in a daily 
 newspaiKsr in the city where the principal oflSco of the company is 
 located in this Stale for one week. The re-iu&iirance fund shall be 
 computed at fifty per cent, of premiums received and receivable on all 
 fire risks and marine time riske, the entire premium received on all 
 unexpired marine and ii/iand navigation risks; and ninety-five per 
 cent, of premiums on perpetual fire risks. No company can take any 
 one risk in e:icess of one-tenth part of i s capital actually paid in and 
 intact at the time ot taking such a risk without re-insurance of the 
 excess. 
 
 Jjifi;, Annual statements must be filed on or baforn the lOili day 
 
 of March in each year, and show the condition and a3airs of com- 
 pany on th-> preceding 3 1st day of December. Such state' must 
 be published for one week in a daily newspaper published i no c;ty 
 where its principal office is located in this State. 
 
 Every company, upon the written requisition of the Commissioner, 
 shall furaish him with the requisite data for determining the vai;:"' of 
 all its policies outstanding. 
 
 When the certificate of the Insurance Commissioner of the valua- 
 tion of the policies of any company organized under the laws of this 
 State shall not, be accepted by the insurance ofiScials of any other S^;ate, 
 then every company of such other State doing business in chi ■ Sta,te 
 shall be required to have its policies valued by the Insurance C -nmis- 
 sionor of this State. . 
 
 All valuations shall be made upon the basis of the Amencan Ex- 
 perience Table of Mortality, with interest at four and one-half per 
 cent, per annum. After January, 1891, the actuaries' table will be 
 iised, and interest compounded at four per cent. 
 
CALIFORNIA. 
 
 11 
 
 ) Cotnmis- 
 
 y company 
 ; b.3 private, 
 •CHult there- 
 pnrs of this 
 If any com- 
 t revoke the 
 tice by mail 
 ,c bo tiled in 
 >:papor pub- 
 ,er issue any 
 
 [ claims and 
 laws of this 
 ital stock of 
 (ioUars, or 
 I St ,-k paid 
 811 astiots do 
 id dol'vps. 
 
 r State com- 
 n each year, 
 le preceding 
 d in a daily 
 company ig 
 ind shall be 
 ivable on all 
 reived on all 
 aety-five per 
 can take any 
 ' paid iu and 
 ranee of the 
 
 the lOih day 
 
 3 of 
 te- 
 I I 
 
 corn- 
 must 
 no city 
 
 omn.?f<8ioner, 
 the vai;je of 
 
 of the valun- 
 lawa of thib 
 
 y other S';ate, 
 in chi ' State 
 
 ince C mmis- 
 
 ^merican Ex- 
 one-half per 
 table will be 
 
 I'olicies may bo rogistorod with the Insurance Comtnissioner, and 
 the reserve! on the same deposited with him. 
 
 .Any life insurance company having policies in this State issued in 
 accordance with law may have a special agent in the State to collect 
 renewal premiums. He shall apply for and receive from the Insurance 
 Commissioner a certificate of authority, and shall, on or before the 
 15th day of January, annually, file with the Commissioner a statement 
 under oath, showing the gross amount of premiums collected by him 
 m the State during the year ending on the preceding Slst day of 
 December, and pay the Commissioner twenty dollars. Faihng to 
 make such statement and payment, he shall forfeit one hundred dollars 
 for each renewal premium received by him. 
 
 Every contract or policy of insurance hereafter made by any per- 
 son or corporation organized, under the laws of this State, or under 
 those of any other State or country, with and upon the life of a resi- 
 dent of this State, and delivered within this State, shall contain, unless 
 specifically contracted between the insurer and the insured for tontine 
 insurance or for other term or paid-up insurance, a stipulation that 
 when, after three full annual premiums shall have been paid on such 
 policy, it shall ceaso or become void solely by the non-payment of any 
 premium when duo; its entire net reserve, by the American experi- 
 ence mortality, and interest at four and one-half per cent, yearly, less 
 any indebtedness to the company on such policy, shall be paid by such 
 company as a single premium, at such company's published rates in 
 force at the date of original policy, but at the age of the insured at 
 time of lapse, either to the purchase of non-participating term insur- 
 ance for iha full amount insured by such policy; or upon the written 
 application by the owner of such policy, and the surrender thereof to 
 Duch company within three months from such non-payment of pre- 
 mium, to the purchase of non-participating paid-up policy, payable at 
 the time the original policy would be payable if continued in force; 
 both kinds of insurance to be subject to the same conditions, except 
 as to payment of premiums, as those of the original policy. It may 
 be provided, however, in such stipulation, that no part of such term 
 insurance shall be due or payable, unless satisfactory proofs of death 
 be famished to the insuring company within one year after death, and 
 that, if death shall occur within three years after such non-payment 
 of premium, and during such term of insurance, there shall be de- 
 ducted from the amount payable the sum of all the premiums that 
 would have become due on the original policy if it had continued in 
 force. If the reserve on endowment policies be more than enough to 
 purchase temporary insurance, as aforesaid, to the end of the endow- 
 ment term, the excess shall be applied to the purchase of pure endow- 
 ment insurance, payable at the end of the term, if the insured be then 
 living. If any life insurance corporation or company shall deliver to 
 any person iii this State a policy of insurance upon the life of any 
 person residing in this State, not in conformity with the proviBions of 
 this section, the right of such corporation or company to transact busi- 
 nesa in this State shall thereupon and thereby cease and terminate, 
 and the Insurance Commissioner shall immediately revoke the certifi- 
 cate of such corporation or company authorizing it to do business in 
 
13 
 
 CALIFORNIA. 
 
 this State, and publish such revocation daily, for the period of two 
 weeks, in two tiaily newspapers, one published in the city of Han 
 Francisco, and the other in the city of Sacramento. 
 
 FVi»v/«/<. — Foreign companies doing any kind of insurance 
 business in this State shall file their annual statements on or before the 
 first day of May in each year, made up for the year ending on tlio 
 preceding .list day of December, and shall publish the same for one 
 week in a daily newspaper published in the city where the principal 
 office of the company in this State is located. . 
 
 Foreign fire, marine, or inland insurance companies having on 
 deposit within the United States, assets to the amount of $200,000 
 over and above liabilities in the United States, as security for the 
 policy-holders therein, may at their option make a separate statement 
 to the Insurance Commissioner of their foreign business and assets, but 
 shall be required to return only the business done m the United States, 
 and the assets held by or for them within the United States for the 
 protection of the policy-holders therein. 
 
 l/fcew«C8. — Municipal licenses in the city of San Francisco are 
 authorized by statutory provisions. The licenses are established by 
 ordinance of the city and county of San Francisco. Each agent shall 
 pay for every company represented by him, a license, aa follows : 
 Those doing business to the amount of fifty thousand dollars or over 
 per quarter, one hundred dollars per quarter. Those doing business 
 to the amount of twenty-five thousand dollars per quarter and less than 
 fifty thousand dollars, seventy-five dollars per quarter. Those doing 
 business to the amount of ten thousand and less than twenty-five thou- 
 sand dollars per quarter, fifty dollars. Those doing business to any 
 amount less than ten thousand dollars per quarter, twenty-five dollars 
 
 per quarter. 
 
 Reciprocal provision in reference to licenses. 
 
 Pees. All fees must be paid in advance in United Slates gold 
 
 coin. 
 
 For filing charter, thirty dollars. 
 
 For filing annual statement, twenty dollars. 
 
 For filing any other paper required by law to be filed, five dollars. 
 
 For agent's licenses, one dollar. 
 
 Special agent of life insurance company to collect renewal pre- 
 miums, twenty dollars. , ^, n 
 
 For furnishing copies of papers filed m the oifice of the Commis- 
 sioner, twenty cents per folio, and for certifying such copies, one 
 
 Holl&iF 
 
 For valuation of life policies, three cents for each one thousand 
 
 dollars of insurance valued. . 
 
 The Commissioner shall annually assess upon every company doing 
 business in this State, any excess of the expenditures of his office over 
 its receipts in proportion to the amount of premiums received and 
 receivable by such companies respectively in this State, for the year 
 ending on the preceding 3 1st day of December. 
 
 Also reciprocal provision. 
 
CANADA. 
 
 13 
 
 od of two 
 by of San 
 
 insurance 
 before the 
 ng on the 
 me for one 
 B principal 
 
 having on 
 [ $200,000 
 ity for the 
 I statement 
 assets, but 
 ited States, 
 tes for the 
 
 Taxed. All taxes are collected under a reciprocal provision of 
 
 statute. 
 
 Penaltiett, — One hundred dollars for failing to file statement 
 or stipulation proscribed by law, and two hundred dollars for each 
 month any company ccjntinues business without filing such statement. 
 Five hundred dollars for failure to answer fully and truthfully in 
 writing the written inquiries of the (Commissioner. One hundred dol- 
 liirs for issuing a life policy in this State not containing written evi. 
 dence that it is so issued. 
 
 ASSESSMEKT INSURANCE. 
 
 Assessment companies are not subject to the insurance laws of 
 California, and are not under the jurisdiction of the insurance depart- 
 ment. 
 
 ancisco are 
 iblished by 
 agent shall 
 aa follows : 
 irs or over 
 ig business 
 nd less than 
 ?hose doing 
 ty-five thou- 
 ness to any 
 -five dollars 
 
 Slates gold 
 
 five dollars. 
 
 renewal pre 
 
 ;he Commis- 
 copies, one 
 
 ne thousand 
 
 mpany doing 
 is office over 
 received and 
 for the year 
 
 CANADA. 
 
 W. Fitzgerald, Superintendent of Inmranct, Ottawa. 
 
 Admission. — Every company desiring to transact business in 
 the Dominion of Canada shall, before admission, file in the Department 
 
 of Finance — . . 
 
 A certified copy of its charter or articles of association. 
 
 A statement of the condition and affairs of such company on the 
 3lBt day of December preceding, or up to the usual balancing day of 
 
 the company. . , . a, * 
 
 A power of attorney from the company to its head officer or agent 
 in Canada, under the seal of the company, and signed by the Presi- 
 dent and Secretary or other proper officer, verified by their oath, and 
 further corroborated on oath by such officer or agent or some person 
 cognizant of the facts necessary to its verification. Such power of 
 attorney shall declare at what place in Canada the head office or chief 
 agency of such company is, or is to be established, — and shall ex- 
 pressly authorize such attorney to receive service of process in all suits 
 and proceedings against such company in any Province of Canada, in 
 respect of any liabilities incurred by the company therein, and also to 
 receive from the Minister* and the Superintendent, all notices which 
 the law requires to be given, or which it is thought advisable to give, 
 _ and shall declare that service of process for or m respect of such 
 liabilities, and receipt of such notices, at such office or chief agency, or 
 personally on or by such attorney at the place where such head office 
 or chief agency is established, shall be legal and binding on the com- 
 pany to all inl' Pis and purposes whatsoever. 
 
 Whenevt- any such company changes its chief agent or chief 
 agency in Canada, such company shall file a power of attorney, as 
 hereinbefore mentioned, containing any such change or changes in such 
 
 • The «xpre«8loii " Minister " In this act me«nB Minister of Finance and Receiver-General. 
 
u 
 
 CANADA. 
 
 respect, and containing a similar declaration as to the servico of process 
 ami notices as hereinbefore mentioned; and every company fihall. at 
 the time of making the armiiul statement provided for, declare that no 
 change or amendment has been made in the charier, act of incorpora- 
 tion or articles of association of the company, and that no change 
 has been made in the chief agency or chief ajjent, without such amend- 
 ment or change having been duly notided to the superintendent. 
 
 Duplicates of all such documents, duly verified as aforesaid, shall 
 be filed in the office of one of the Superior Courts in the Province in 
 which the head office or chief agency of the company is situated — or 
 if the chief agency is in the Province of Quebec, with the prothonotary 
 of the Superior Court of the district wherein such chief agency is 
 established. 
 
 (See Deposits.) 
 
 TAcenses, — Every company, before transacting business in 
 Canada, shall receive from the Minister a license, and shall give notice 
 thereof by publication in the Canada Qazctie and in a least one news- 
 paper in the county, city, or place where the chief agency is estab- 
 lished, which publication shall be continued for four weeks. Licenses 
 shall expire on the Slst day of March, in each year, and shall be re- 
 newable from year to year. The like notice shall be given, for the 
 space of three calendar months, when a company ceases, or gives no- 
 tice that it intends to cease, to carry on business in Canada. 
 
 lyepositH, — Every fire and inland marine insurance company 
 shall deposit with the Minister the sum of one hundred thousand 
 dollars for the benefit of the policy-holders in Canada. Such deposits 
 may be made by companies of the United States, in the United 
 States securities, or any other securities approved by the Treas- 
 ury hoard. 
 
 If from the annual statement, or by the examination of the condi- 
 tion of any company, it appears that its re-insurance fund and liabili- 
 ties in Canada exceed its deposit in Canada, then the company shall 
 bo called upon at once to make good the deficiency, and upon failure 
 so to do its license shall be canceled. 
 
 Life insurance companies are required to deposit fifty thousand 
 dollars with the Minister upon admission to (io business, and to make 
 additional deposits from time to time sufficient to equal the re-insurance 
 roserve upon policies in force in Canada, or to place such sura in the 
 hands of trustees in Canada for the benefit of policy-holders -resident 
 therein, under a trust deed to be approved by the Minister Reserve 
 computed by actuaries' table with interest at four and one-half per 
 cent. 
 
 Fire ami Marine,— Every fire and inland marine insur- 
 ance company must annually file with the Minister, on the first day of 
 January or within two months thereafter, under oath of its chief 
 agent, a statement of the condition and affairs of the company in 
 Canada. Such company must also file a statement of its general busi- 
 ness in such form and to such date as it may be required by law to 
 furnish to the government of the country in which its head office 
 
 UL 
 
 1 
 
CANADA. 
 
 16 
 
 ;o of process 
 my Hliall. at 
 ilaro tliat no 
 f incorpora- 
 ; no cliango 
 such amcnd- 
 ndont. 
 
 resaid, shall 
 Province in 
 tuated — or 
 )rothonotary 
 ^f agency is 
 
 business in 
 1 give notice 
 It one news- 
 icy is estab- 
 8. Licenses 
 shall be re- 
 ven, for the 
 Qr gives no- 
 a, 
 
 ice company 
 
 sd thousand 
 
 uch deposits 
 
 the United 
 
 the Treaa- 
 
 )f the condi- 
 d and liabili- 
 impany shall 
 upon failure 
 
 fty thousand 
 md to make 
 1 re-insurance 
 sum in the 
 lers' resident 
 er Reserve 
 one-half per 
 
 larine lusur- 
 le first day of 
 of its chief 
 company in 
 general busi- 
 ed by law to 
 .8 head office 
 
 is situate. No lire policy shall bo issued for or extend over a longer 
 period than three years. (jicense issued to such company is void 
 whenever written notice of any diHputod claim, arising from any loss 
 insured against in Canada remaining unpaid sixty days after being 
 due, or of a disputed claim after final judgment is served on the Min- 
 ister ; but such license may bo renewed if such claims be paid within 
 sixty days thereafter. Upon failure to make such payment any such 
 company shall be deemed insolvent. 
 
 Life, — Every company shall annually, within two months after 
 the first day of January, make a statement of '\\» condition and aRuirH, 
 verified by the oath of the president, manager, or agent of such com- 
 pany, or of any person cognizant of the facts. Such statement to be 
 made at the usual balancing day of the company. 
 
 License to be withdrawn, if company fails to pay losses within 
 thirty days after they are due, or after final judgment, but may be 
 renewed at discretion of Minister if the law is complied with, within 
 thirty days. 
 
 Jp'ees, — To defray the expenses of the oflBce of Superintendent of 
 Insurance, an assessment shall be made pro rata upon the gross pre- 
 miums received by each company during the preceding year, and 
 paid upon the 31st day of March in each year, but the amount assessed 
 on fire and inland companies shall not exceed eight thousand dollars. 
 
 Life policies in Canada to be valued every five years by Superin- 
 tendent at a fee of three cents for each policy. 
 
 J*enaltien, — Transacting any business without license or with- 
 out filing any papers required by law, or refusing or neglecting to 
 make annual statement, subjects the company or person so violating 
 the law to a penalty of five hundred dollars, and an additional penalty 
 of one hundred dollars for each month's neglect. In case of non-pay- 
 ment of such penalty, the Minister may suspend or revoke license. 
 
 Agents for doing business for unlicensed companies are subject to 
 fine of not more than fifty dollars and costs for first otiense, and im- 
 prisonment for second offense. 
 
 ASSESSMENT INSURANCE. 
 
 Adniissionm — Companies must be licensed; must make a de- 
 posit of fifty thousi^nd dollars ; must pay losses in full : cannot use 
 any part of assesFor mtz for losses for any other purpose ; must print 
 in ink of a differe- ; . ilor from the body of the contract, and conspicu- 
 ously, "This association is not required by law to maintain the reserve 
 which is required of ordinary life insurance companies." Every cer- 
 tificate must contain a promise to pay the whole amount therein men- 
 tioned, and to make assessments sufiGcie.it to pay that amount. It 
 must also contain a stipulation that action may be brought on the cer- 
 tificate in any court of competent jurisdiction in the province where 
 the policy-holder resides. The words " assessment system " must be 
 printed in large type, at the head of every policy, circular, or 
 advertisement. 
 
 PenailtieSt — The same as for fire and life insurance companies. 
 
ul 
 
 Ui 
 
 1,6 COLORADO. 
 
 COLORADO. 
 
 (LeKUtalure niecu blennlHlly. Next Mitlon Jan. 1, 18(11. 1 
 Lewis B Schwanbeck, Superintendent of Insurance, Denvkk. 
 
 AdmlMHioH, — Every firo and life insurance company dosir- 
 inK to transact buginoss in this Stftto must, before admission, possess a 
 paid-up capital of not less than two hundred thousand dollars Com- 
 panies other than fire and life, not loss than one hundred thouHand 
 dollars. Every company applying far admission shall file m the offlco 
 of the Superintendent of Insurance a duly certified copy of its charter, 
 articles of association, or deed of settlement, with a statement under 
 oath of the president and secretary or other chief oflicers, siiowing the 
 condition of such company on the thirty-first day of the preceding 
 December. Companies must appoint the Superintendent of Insurance 
 their attorney to accept service. 
 
 CertlficateH and ^f/ewf«. — Companies are required to pro- 
 cure annually for the use of agents and solicitors, copies of certihcatos 
 of authority. Certificates to be revoked if company is found unsound, 
 and may publish results of investigation. 
 
 JE»aniinattonft. — The Superintendent is authorized to make 
 examinations of all companies licensed to do business in the SUite, at 
 any time, for which he shall charge his actual expenses, if the exam- 
 ination is conducted by him personally, and if by any one appointed 
 by him, not to exceed ten dollars a day and necessary expenses, to be 
 paid by the company examined. For valuing life policies, ten dollars 
 for each million of insurance valued. 
 
 Fire and Marine. — Annual statsments must be filed on or 
 before the first of March. Publication required. The re-insurancc 
 fund shall bo fifty per cent, of gross premiums on all risks having less 
 than one year to run, and pro rata on all unexpired risks having more 
 than one year to run. 
 
 Xjife, Annual statements must be filed on or before March 1st, 
 
 The legal reserve is computed by actuaries' experience table with inter- 
 est at four per cent., valuing net premiums. Paid-up policies must be 
 given after three years. Publication required. 
 
 Fees. — For filing charter, tweriy-five dollars ; if capital exceeds 
 two hundred and fifty thousand dollars, ten cents for each additional 
 thousand. For filing power of attorney and preliminary statement, 
 fifty dollars. Annual statement, fifty dollars. For certificate of au- 
 thority, five dollars, and each copy of same two dollars. For copies of 
 papers, twenty cents per folio, and for affixing seal and certifying any 
 paper, one dollar. For each copy of process, two dollars. Two per 
 cent, on the excess of premiums over losses and expenses in the State 
 each year. Superintendent is authorized to assess for any deficiency 
 in case these fees do not meet the expenses of his office. 
 
CONNECTICUT. 
 
 IT 
 
 , Dknvku. 
 
 impany di'sir- 
 sion, po.ssoss a 
 lollars Com- 
 irod thouHand 
 le ill the office 
 ' of its charter, 
 Eitement under 
 •8, allowing the 
 the preceding 
 it of Insurance 
 
 pquired to pro- 
 a of cortificatoa 
 ound unsound, 
 
 orized to make 
 n the State, at 
 I, if the exam- 
 one appointed 
 expenses, to be 
 jiea, ten dollars 
 
 It be filed on or 
 le re-insurancc 
 isks having less 
 ks having more 
 
 fore March Ist, 
 table with inter, 
 policies must be 
 
 capital exceeds 
 each additional 
 nary statement, 
 ertificate of au- 
 B. For copies of 
 d certifying any 
 illars. Two per 
 nses in the State 
 >r any deficiency 
 
 56. 
 
 
 PenaltieH.— For failure to pay fees, revocation of license. For 
 refusal to answer, or for making false answers to quostions put in ex- 
 amination, or false entries in books, fine or imprisonment, or both. 
 
 Any person who directly or indinfctly aids in the transaction of 
 the I'usinoss of insurance by an unlicensed company, is liable to a 
 penalty of five hundred dollars for each oflfenso. 
 
 ASSESSMENT INSURANCE. 
 
 AdtnlHHlon. — Other State corporations must deposit with the 
 Superintendent certified copy of charter or certificate of incorporation, 
 and with the Superintendent a statement, under oath of its president 
 and secretary, under form required by him, of its business for the pre- 
 ceding year ; a certificate under oath of its president and secretary 
 that it is paying and has been paying for twelve months, the amount 
 named in its certificates in full ; a certificate that like companies incor- 
 porated in Colorado are permitted to do business in its home State ; a 
 copy of its policy or certificate and application, which must show that 
 benefits are provided for by assessment. 
 
 Annual Sfatements. — Must be made on or before the first 
 of March, on form proscribed by Superintendent. 
 
 Feeft and Penalties and ExanUnationa.— '^^^^ same 
 as for other insurance companies. 
 
 CONNECTICUT. 
 
 ILeglflature meets biennially. Ncxt»cMloii January, 1891.] 
 0. R. Fyleu, Insurance Commissioner, HartfokI). 
 
 Adnilsttion. — Every company desiring to transact business in 
 this State, before admission, must possess the amount of capital and 
 invested assets hereinafter mentioned, and must file with the Commis- 
 sioner — 
 
 A certified copy of its charter or deed of settlement; a statement 
 under the oath of the President or Vice-President and Secretary of 
 the company, showing the condition and affairs of the company. Such 
 company shall also appoint the Insurance Commissioner its attorney, 
 upon whom ail process of law may be served, and file with the Com- 
 missioner a certificate of such appointment. 
 
 Certitlcatea and Agents. — ^very agent, before transacting 
 any business of insurance for any company in this State, must procure 
 . from the Commissioner a certificate of authority stating that such com- 
 pany has complied with the requirements of law. 
 
 Life insurance companies and foreign companies must receive a 
 certificate or license from the Commissioner before transacting busi- 
 ness in this State. 
 3 
 
 * 
 
18 
 
 CONNECTICUT. 
 
 All rnrtiflcaum and licotiHO* miwt U' rimnwo<l iinniinlly upon llling 
 tho iiiimiul HtttU-iiiont of tli« ooii.pany, hikI all CMrtillcaUm to companie* 
 an.l agoiiU oxpiro on thti (irnt .lay ot U.o Ai.ril following t\mr ihsum. 
 
 MUxanUnaUonH and Itmnni'mt'nti*. — '^'^^^' CommiH. 
 •ioner, wlionovur li« d.ioinH it wxpetliont, may «xatnin« into thn coniii- 
 tion anil affairH of any ciimpany traimacting biwinoHH in tlio SUto. Ho 
 may. if li<> <loonm it for ;,li« inlon-Ht of tli« pul)li(\ publmli tlio result of 
 Huch' oxainination in ono or uioro iiowHpaporH pul.li»liwl in lli" Htate. 
 Whcnovor it Hhall ap|M!ar from any hucIi oxaiiiination or any report 
 that tho allairu of any comi)any are in an iinHound condition, tho Com- 
 misHionor Hhall rovok«i iho cortillcaU'H of authority or hcc-nHOH granted 
 to or in liohalf of mi.-li company, ami cause notice ot HUch revocation 
 to bo published in two m)WHpuj)erH, one printed in Hartford, and tho 
 other in New Haven, at least four wooUb. 
 
 Any lire or marine insurance company m in an unsound condition 
 whenever the assets of such company, after churging it with its proper 
 liabilities and tho amount required by law for a reinsurancio fund, 
 amount to less than three-fourths of its capital stock. If the a»sotB of 
 any life insurance company are not f(pxal to its liabilities and premium 
 reserve, ascertained as required by law, such company is in an unsound 
 condition. 
 
 Fire and Marine— Every stock company must |K)9He88 a cash 
 capital of one hundred and fifty thousand dollars, paid-up and securely 
 invested. Every mutual company must possess one hundred and hfty 
 thousand dollars in cash or invested in available a^-sets, and no company 
 can be admitted unless similar companies of this State are admitted in 
 such other State. Annual statements shall bn filed in tho month of 
 January of each year, and shall exhibit the cor;dition of the company 
 on the preceding 3l8t day of December. 
 
 The reinsurance fund shall bo computed at fifty per centum of the 
 gross amount of premium (less return premiums and re-insurance) re- 
 ceived on all fire risks in force not perpetual; ninety-five per centum 
 of promiumB on perpetual risks in force; one hundred per centum of 
 the amount of premiums received on ocean marine risks in force. 
 
 In all insurance against loss by fire, tho conditions of the insurance 
 shall be stated in the body of the policy, and no condition except those 
 BO stated shall be valid. No fire insurance company doing business in 
 this State shall expose itself to loss upon any one risk or hazard, to an 
 amount exceeding ten per centum of its paid-up capital. 
 
 2>f/e._ Annual statements shall be mod on or before the Prst day 
 of March in each year, showing the condition of the company on tho 
 preceding 3 1st day of December. u • «* 
 
 Every company which does not furnish the certificate hereinafter 
 mentioned must furnish a descriptive list of all its outstanding policies 
 and contracts of insurance. Such policieb and contracts shall be an- 
 nually valued by the commissioner. In making such valuation he shall 
 assume the rate of mortality shown by the Actuaries' or Combined 
 Experience Table, with compound interest at four per cent., and he 
 shall value only net premiums. The Commissioner shall accept a cer- 
 
 UiJ 
 
y upon fllin^ 
 to comiianum 
 tlutir iHHUt). 
 
 'he Corn mis- 
 to th«i coinii- 
 lio SUto. He 
 I tlio rosiilt of 
 in thn Htato. 
 1)1- an;' report 
 ion, tlio Coni- 
 ciiHOH granted 
 oh revocation 
 ,ford, ami the 
 
 and condition 
 vitli it8 proper 
 Huranco fund, 
 f the a»HotB of 
 and proinium 
 in an unROund 
 
 , (KiHHeHS a cash 
 p and securely 
 id rod and (ifty 
 id no company 
 tro admitted in 
 the month of 
 f the company 
 
 centum of the 
 (•insurance) re- 
 ve per centum 
 
 per centum of 
 8 in force, 
 f the insurance 
 )n except those 
 ing business in 
 tr hazard, to an 
 I. 
 
 ire the Hrst day 
 lompany on the 
 
 ;ate hereinafter 
 banding policies 
 lets shall be an- 
 iluation he shall 
 b' or Combined 
 If cent., and he 
 all accept a cer- 
 
 CONNECTICUT. 
 
 It 
 
 tiflcate of valuation, made upon the standard providwi by the laws of 
 this Htato, from tho profwr ofllcial of the State whom thn company i« 
 organized, in hi-u of making such valuation, if such oflirial will accopt 
 the certillcato of valuation of the CommiHsioPor of this Htato in refer- 
 ence to companies of this Htato doing businoBs in such otlior Htate. 
 
 Tho Commissioner is also required to make valuations upon tho 
 basis of tho .\m(irican Kxjiorionco Table of Mortahty, with iiitorost at 
 four and ono-half jier cent, por annum, and to furnish certificates of 
 such valuation to be fllod in other States. 
 
 No life insurance company doing business in the State of Connecti- 
 cut shall iiiiiko or permit any distinction or discrimination in favor of 
 individuf«.l8 between iimurants of tho same chiss and expectations of 
 life in tho amount or payment of premiums or rates charged for poli- 
 cies of life or endowment insurance, or in tho dividonils or other bene- 
 fits payalilo thereon, or in ajiy other of the terms and conditions of tho 
 contracts it makes; nor shall any such company or any agent, sub- 
 agent, broker, or any other {wrson, make any contract of insurance or 
 ftgrocnient as to such contract, other than as plainly expressed in the 
 policy issued thereon ; nor shall any such company or agent, aubagent, 
 broker, or any other person, pay or allow, or otTer to pay or allow, as 
 inducement to insurance, any rebate of premium payable on the policy, 
 or any special favor or advantage in tht» clividonds or other benefit to 
 accrue thereon, or any valuable consideration or inducement whatever 
 not f/pocified in the contract of insurance. 
 
 ForeiffU. — Every foreign insurance company doing business in 
 this State must jmsaess a cash capital of more than two hundred thou- 
 sand dollars, and must deposit with the Treasurer of this State, or the 
 local public officer of some other State of the United States, not less 
 than two hundred thousand dollars in the bonds of this State, of the 
 State of New York or Massachusetts, or of the United States, to be 
 held in trust for the benefit and security of the policy-holders of such 
 company in the United States. A certificate showing such deposit, 
 ■under the hand and seal of the officer holding tho same, shall be filed 
 with the Commissioner. Tho capital of such company in the United 
 States is the aggregate value of such securities as such company shall 
 have on deposit with the officers of the several States for the benefit of 
 its policy holders, and ail the other assets and property of the company 
 in the United States, which are vested in and held by trustees, citi- 
 zens of tho United States approved by the Commissioner, for the 
 general benefit and security of all policy-holders and creditors of the 
 company in the United States, after deducting from the aggregate 
 value of such deposits and of such assets held in trust all the liabilities 
 of the company in the United States, including a re-insurance fund, 
 computed as required by law. A copy of the trust deed, and of the 
 vote of the board of directors appointing such Trustees, shall be filed 
 with the Comniissionf 
 
 Annual statements _- the affairs of such company in the United 
 States shall be filed with the Commissioner in the month of January 
 in each year, and shall contain, in detail, the items constituting the 
 capital of the company, and the deductions to be made therefrom, Bub^ 
 scribed and verified by the oath of the agent or attorney of the com- 
 
CONNECriCUT. 
 
 pany m Iho lJnlto.1 Stat«a. The Comiuisiionor «hall ammftlly iwiK' t«» 
 «uch ««.mpftny » (riirtiHciito uliowing the amount o( \U w) <Uaorniin«»l 
 capital. 
 
 |>V,.^._ror valuation of life inauranoo |X)Uciot, thn lamn ralo nit 
 lmpoNo«l on Connecticut companicH in tho Htat« whoro auch other com- 
 pani«)M aro l(M-at<)<l. in < 
 
 Liconao ton .lollara, «xc«pt to foroign coinpanum, tho Uconao ot 
 which in fifty dollars. 
 
 Kiling ciiarlor, foreign comi>anio» thirty ilollarH. 
 
 Filing Mtatotnent, foreign con»pani«f twenty dollarM. Companiea of 
 other HtaUw, ten dollara. 
 
 Agenta' cortificaNm, two ilollara. 
 
 Reciprocal provision. 
 
 TrtitCK.— Kvory agent Hhall make a. return, under oath, annually, 
 on or bi*foro tho Uuith day of January, lo the Coinniiiwionor, of tho 
 groM amount of premiums collected lht» year previous, and upon re- 
 ceiving from the Commiesioner a certilicate of the acceptance of such 
 return, and the amount of tax due theroon, under the provisions of 
 tho rtwiprocal law, whall [>Ay tho same on or before tho 20th day of 
 January, to the Insurance Commisaioner. 
 
 Agents may be licensed to place excessive lines m >inauthori/,«d 
 companies on payment of a tax of four per cent. 
 
 Agents ot companies of foreign countries shall, on such gross pre- 
 miums so returned, pay, on or before tho 20th day of January, to the 
 Insurance Commissioner, a tax of two per cent. 
 
 PenaUU'H.— Kvory agent of any fire or marine conipany trani- 
 acting business in violation of law is subject to a penalty of not less 
 than one hundred, and not more than one thousand dollars for each 
 
 oflense. v. a # 
 
 Tho agent of any insurance company of another State, or oi any 
 foreign government, which has not been admitted to transact business 
 in this SUte, shall bo personally liable upon all contracts of insurance 
 made by or through him, directly or indirectly, for or in behalf of any 
 such company. 
 
 Kvery officer or agent of any life insurance company transacting 
 business in violation of law shall be subject to a fine of not less than 
 one hundred dollars nor more than five hundred dollars for each 
 offense. Agents are subject to a fine of from one hundred to five 
 hundred dollars for doin^ any business for or aiding in tho transaction 
 of business by unauthorized companies. 
 
 A penalty of five hundred dollars for giving any rebate of premium 
 in life insurance and a revocation for throe years of agent's certificate. 
 
 No fire company is permitted to advertise or represent any funds 
 or assets to be in its possession not actually possessed by it, or sub- 
 scribed capital not actually paid up in cssh, and all such advertise- 
 ments and statements purporting to show the financial condition of the 
 company shall correspond with the last verified statement to the insur- 
 ance department, and every violation of this provision shall be pun- 
 ished by a fine, for the first offense, of five hundred doUars, and every 
 subsequent offense, one thousand dollars. 
 
 Hit. 
 
DAKOTA. 
 
 n 
 
 tally iiMU* lO 
 (ItitoriiiiMd 
 
 Miiitt mto an 
 :i other com* 
 
 u Ucoiiao of 
 
 7ompani(Ni of 
 
 ill, aiiiuially, 
 ionor, of the 
 iml upon ro- 
 uncu o( Hucb 
 provisJoriB of 
 2Uth day of 
 
 iinaiithorizad 
 
 [;h ><roB8 pre- 
 nmiry, to the 
 
 itnpany trans* 
 y of not l«(B« 
 illars for each 
 
 ,to, or of any 
 
 isact buainesa 
 
 of insurance 
 
 behalf of any 
 
 ly transacting 
 not less than 
 liars for each 
 iindred to five 
 ;hu transaction 
 
 te of premium 
 [It's certificate, 
 ent any funds 
 
 by it, or sub- 
 lucn advertise- 
 sndition of the 
 it to the insur- 
 
 shall be pun- 
 lars, and every 
 
 AHHRMMRNT INNONANCR. 
 
 .1 fl ml MM Ion. — iAtiHl dfp<«it wirh thn Innuratn«t CornmlMinnitr a 
 curtided cony of iU Htattmuint of biiMiiu'MM for tlu' yi'ftr «uiiliiiK tli« 
 thlrlyHrnt day of th« pntntdin^ I)<M;ninh< r, ami of itn fotiditioii iit that 
 dat«\ with a fortiflcalii sworn to by the pnMnliMii and wu-rotary, snt- 
 ting forth tiiiit it liaH paid, and Iium tho abiliiv n. pay. ittt n<rti(lcat«ti to 
 tho full liiiiit rianind llu niin ; that it dix-n not. imhuo (■••itillcfttim upon 
 the livtiH of iMiiHorm tnor«i than nixty fiv<^ yt-urM olil; that, ilM c«'rli(icat«w 
 »ro payable only to l)un<i(lniari«>M luivinK u U'nn\ inHuriibli- int«)r««t in 
 tb«( lif" of th« inMured; that an ortlinaiy aiwoitunuint in »uf!lcitmt to pay 
 itM iniixiMuini fdrlillcuto. It inUMt aUo furniith a (•«rtiJloat<i from the 
 inHuranoi olllcialu of ItM own Stato nirtifyiiiK that it irt iK^ally untitled 
 to do businoHH. and that liki) corporatiouM of Connix-ticui art* loyally on- 
 titled to d(» buHimmH in that State. It niuHt also furninh i'opi«ii of ita 
 application and rortificato forms, and of its «!onstitution and by-laws. 
 
 FeeM, PvnaltleM, Etc. — AsBttsHinoni companies are subject to 
 all tho laws n-^ardinn lifo insurance comiianics, except that requiring 
 a reserve. Ilwiprocul provision. 
 
 DAKOTA.* 
 
 ylr/m /«»/«/».— Ev^ryj"'"* "'"^l* company apiilying for a<lmis- 
 sion to transact business in this Territory must |m)hs»'hh actual cash cap- 
 ital to the amount of one hundrwl thousand dollars. No requirements 
 specially (lied regarding assets of mutual companies. Every company 
 must file with the Auditor a copy of the chart«!r or act of incorporation 
 of the company, a sworn statement of tho financial condition of the 
 company on the procetling 3 1st day of December, ^and a written 
 instrument under seal of tho corporation, signed by its president and 
 secretary, appointing in each judicial district in which it does business 
 an attorney for acceptance of service of process. 
 
 CertlprateM and Aj/entM.— T^vory agent must be supplied 
 with a cortilicato from tlm Auditor before doing business. Every 
 company shall file in the office of the Register of Deeds of tho county 
 in which an agency is establisheda copy of the statement filed with the 
 Auditor, and the certificate of the Auditor, and such statement and 
 certificate shall be published for at least three times in a newspaper of 
 general circulation, printed and published in each judicial district of 
 the Territory in which the company has an agency. The company may 
 choose the paper from one of three selected by tho Auditor. Certifi- 
 cates and statement procured and filed as above annually in January. 
 
 Fire and Life. — Annual Statements must be filed in the month 
 of January in each year. The Auditor may require additional state- 
 ments, and make examinations whenever ho deems it expedient. 
 
 • Tl>» l«(?1»toturei of North DtkoU «nd South D«kott will meet In JMu«nr. North D»kot» 
 baa Ml tn«ur»nce commlB.loner, A. L. Carey, HlHimrck, and In South Dakota L. C Taylor, 
 Auditor, has charge of Inoirance matters. The terrUo»lHl laws Imve not been changrd, but an 
 •ffort wiu be made at the opeulng of tho legUlatura to adopt a better code of inourance lawa. 
 
PRIiAWARR. 
 
 t'oiU'iffn.— Evtsry p«m;«ny must prwum * t^nrtidflfctn of author- 
 lly from Auditor, Oomply wUh all rnquirinrumtii rtlmiriKto Aniiricmi 
 (;oiii|M»ni»'« MtMli'innnU iiiuiit Ui nwoin lo liy nmni»K«'r or g^nwral 
 agiiiit. Hoimi o(!l<«t »ui«mniril lo \m HNtl iMiforo Mny \»i. 
 
 fVr/«.— To Amlitor — 
 
 For flliriK dooUrKtion rikI cbkfter, tw«nty-ftv« dolltn. 
 
 For lUitiK annual MtatmriAnt, Urn (lollara. 
 
 For «t«ch coriKlcatu of nutliority or copy th«iri'of (only on« ImUvltl' 
 ual to l»« inclu(lo<l in ««»'!» cortifli-ato), two tlollam. 
 
 For fopiut of papcnt, twunty <ont« ptir folio, and altlxinn noal 
 tbi'ntto, ono dollar. 
 
 For offli!ial «!Xiiiniiiation of conipanitm' actual «x|H)naii«, not tixcnwd- 
 ing tell ildllurM |M>r diom. 
 
 For making copioa of aunual lUttiuenl for publication, on* tlollar 
 
 each. 
 
 PcmiltifH. — For not fUinK wtatumont roquiri'd, ono hundrud 
 dollant for nach wiu k'n dolay. AgfntM doing husinisHS for companijii* 
 which havo not compliod with law, (iv« hundrod doilarH for each viol»- 
 lion. Finil)Bzzl«»u»nt of company funda, larcwny. 
 
 Taj'f'M, Two and onohalf \wt c«mt. of th« groan prumiuma 
 
 rocoivtid in th« Torritorv during th«i proceding yoar, to bo pai.l Imforo 
 ronowal of cortiflcato. Ko local taxoa. 
 
 Uo<n|)rocal provision for taxea, fooa, ponaltioa, and dupoait*. 
 
 AHHRHHMKNT INHUHANCI. 
 
 No spocial laws for th« conduct of auMosBinont coinpanifli. 
 
 DELAWAPr 
 
 (L<'Klil*tur« iiiiieU lilvniiUily. N«xl *n»Um Jan., 1N0I.I 
 Isaac N. Fookh, Insurance (hmmmiontr, Gkoimiktown. 
 
 A«itnittHlon. — Every company doHiring to tranHact businoas in 
 this State must iwbbhhs ono hundrwl ami lifty thousand dollars over all 
 li»biliti«s and claims; or if a mutual firo company, ono hundrod bona 
 / « appli<!ation8 for insurance, and socufitios to tho amount of twenty 
 thouHand dollars, and authority to transact business in its own Stato ; 
 or, if a plato-glaas insurance company, one hundred thousand dollars 
 above all liabilities; before admission nuist file with the Insurance Com- 
 missioner a certified copy of its charter or declaration of organization, 
 a statement of its condition under the oath of its president, or vice- 
 president and secretary ; a certificate of the name and residence of 
 some person within this Stato upon whom any civil procesa may be 
 served. Making affidavit to a statement falsely is perjury. 
 
 CertificnteH and AffentH. — F^wry company and each of its 
 agents before doing business in this SUto must procure a certificate 
 
 yi iji 
 
DELAWAIIK 
 
 n 
 
 n of auihaiN 
 
 lo AuH'ririin 
 ut gvnuml 
 
 on« intiivitl- 
 lifllxiriK N«at 
 , not «ix«!«wil- 
 D, out doUftr 
 
 )iio hiiridrtd 
 ir com|>«n{fHi 
 »r each viola- 
 
 M pramiuniM 
 (I paiil Iwfuro 
 
 loaits. 
 
 ifli. 
 
 ETOWN. 
 
 ct buBinMHH in 
 ollars over all 
 [luiidrod bona 
 int of twenty 
 ta own State ; 
 )UHand doilariD 
 isiiranco Com- 
 ' organization, 
 ident, or vice- 
 I residonco of 
 rocesfl may be 
 
 knd each of ita 
 re a certificate 
 
 from till) Iniurancff (lommiMionor, mich curtiHoaUi Mhall not h<i inrttiMl 
 to any agnnt until ho IIUw with thu Inmirancro ComminHioniir a iltttiUrnto 
 tax ri«ci)t{)t, Hhowin^ that all tnxv* hnv* Imhwi paid, nor until ho ha* 
 proriirwl a lic<'n>ut from tit<> Clttrk of th« l'i>iic-ii. Kvitry at(tint niimt 
 
 I)rocur« a limuiiui from tli«i Clvrk of thu IVai-o in tht« I'rxinty in winch 
 iia officit in liH'iitiHl, who Nhall b«> untitlud tu fifty conta fur iMiuing tha 
 ■anta. 
 
 Kj'HmhmtioiiMtimf i nt fm t rni fit fM,— 'V\\t^ i'tmmiMiomr 
 may f>xaniin« any coiniiany liom^ biiMiiti'MN in thix Statx. If lin llndii 
 any lifn inMiiranrttcnmiHitiy doin^ lniftinxHM in thin Statn Iikh not on liand 
 tint n<<t vniiK* of all itN |Mili<Mi>ii in fon-«, hit Hhall piililiMh tlio fai-t imd 
 withdraw tlm nnthority of tim company to do l)U«tin<>MM in ihiM Mlatu. 
 In caMo of iiiiv otlitT roinpany having,; rnpilal itock, if ita capital mIimiIc 
 aiicll Imiciiiiio utipturi<(l to iho )>xt«iit of twonty pur cont , htt Mhall )fivt\ 
 nnticM to Miirli conipany to tiwikc good itrt capital Mtu^k within xixty 
 (Inya, and if thin ih not doim hit Nhall ivqniru tlm company to roaitii to 
 du buaineM in thin Statu. 
 
 Fire, Ma vino, and /.//>.— Kvory company Hlmll lllu on or 
 Imforu Kol). Int in <wli yuar a Htatuinunt of ita condition on th« proccding 
 ;<lNt day of l)«<-i*mt)or. Thit (NnnmiHHionur Mhall ri><|uiro all lifn com 
 panicH doing biwincHH in thiit Stato to I'limmh him tliv ccrtilicatt' of 
 valuation of thu Inaurance Commiiwionur of nithnr ronnaylvania, 
 Nhw York, or MaaHac.himnttd, or of the Statu whoro it is incor|)orat«d. 
 If tIm company Im incorporatnd in any oth«r Statu than I'onnaylvania, 
 Nmw York, or MasMachumttt«, ita |W)licm« nhall bu valued on thu " Nuw 
 York baHin." If thu company fail to furniNli such valuation ho ahall 
 ruvoke ita cnrtiflcatu of authority to do buainoiw. Any life inaurance 
 company which collecta ita premiums for inauranco on liven in weekly 
 payrnunts may apply to thu ('lurk of the I'uaco in any county for a 
 proper licunao authorizing and um|K»wcring such company to ungagu in 
 and carry on ita buHimmN in thin Statit, and upon paymont to the naid 
 Clerk of the Poacu of thu sum of fifty dollaia and also tho fee to the 
 (*lork of thu Puaco for isHuing thu licunms it shall t>e tho duty of such 
 Clurk of thu Peace to Ibhiiu to it a proi^r license to transact buainuss for 
 onu ynar from the date theruof. Any such company, aftur receiving 
 such license, and othurwisu complying with tho insurance laws of this 
 State, shall be authori.''«d to transact its business in the State, and any 
 agents or umployt^s of such company employed to solicit applications 
 foi' insurance and collect premiums, shall not bo required to pay any 
 other license fee as an insurance agent, except tho feu of two dollars to 
 the insurance commisaioner for tho certificate of authority of said 
 agent; provided, that such agent or employ6 is not engaged in solicit- 
 ing or transacting businosa within the State for any other foreign fire 
 or life insurance company. 
 
 Delaware enacted a valued-policy law in 1889. 
 
 Licennes and Fees. — Every agent must pay a yearly license 
 of fifty dollars. 
 
 There shall be paid to the Insurance Commissioner for his own 
 use — 
 
24 
 
 DISTRICT OP COLUMBIA. 
 
 ill 
 
 For filinc charter, ten dollars. 
 
 For filing annual statement or printed report, ton dollars. 
 
 For each certificate of auttiority, two doUprs. 
 
 For every copy of every papor filed in the office, tventy cents per 
 
 folio. , , ,, 
 
 For affixing seal and certifying such copy, one aolian 
 For official examinations, the actual expensee incurred. 
 
 Taxes. — Evory agent, at the time of obtaining his license each 
 year shall furnish the Clerk of the Peace a statement under oath, show- 
 ing the amount of premiums received and assessments collected within 
 the State during the year preceding, and shall pay a tax of two and 
 one-half per cent, upon the amount of such premiums and assessments. 
 
 Unless the tax thus paid shall include all the premiums taken on 
 insurances in the State, the company must make a supplemental state- 
 ment and pay to one of the Clerks of the Peace a like tax upon all 
 premiums received bv the company which do not pass through the 
 hands of a licensed agent. 
 
 Penalties. — 'Peraons violating law are liable to a fine not 
 exceeding one thousand dollars, or imprisonment not exceeding one 
 
 year, or both. . , . ^ ^ n . 
 
 Every agent neglecting to take out a license is subject to a hne not 
 exceeding five hundred dollars, or imprisonment not exceeding thirty 
 days, or both. 
 
 ASSESSMENT INSURANCE. 
 
 Assessment companies are required to comply with all the laws re- 
 lating to other life companies, except as regards reserves. 
 
 DISTRICT OF COLUMBIA. 
 
 Insurance is in charge of Assessor's office, Washington, Roger 
 
 Williams, Assessor. . -j t»- ^ • * * 
 
 Fivery insurance company doing business in said District must 
 transmit to the Commissioners of the District a statement of its condi- 
 tion and business for the year ending on the preceding tnirty-fitHt day 
 of December, which statement shall be rendered ■ on the first day of 
 January following or within sixty days thereafter, except that toreign 
 companies shall transmit their statements of business other than that 
 done in the United States, prior to the following first day of July, 
 which statements must be in form and state the particulars required by 
 the blanks prescribed by the Commissioners; and the Commissioners, 
 or any two of them, may require at any time statements from any 
 company doing business within the District, or from any of its officers 
 or agents, on such points as they may deem necessary and proper to 
 elicit a full exhibit of its business and standing, all of which state- 
 ments herein required must be verified by the signatures and oaths of 
 the president or vice-president, or the secretary or actuary. No com- 
 pany having neglected to file a statement required .of it within the 
 time and manner prescribed shall do any business, after notification by 
 
 ui.. 
 
 ^,Ui-.^v i>-4ri'r**'.'" 
 
m^mmmmmfm^f*- 
 
 FLORIDA. 
 
 25 
 
 irs. 
 
 ity cents per 
 
 license each 
 r oath, show- 
 lected within 
 c of two and 
 
 asseasmonts. 
 ras taken on 
 siaental state- 
 tax upon all 
 
 through the 
 
 ;o a fine not 
 xceeding one 
 
 b to a fine not 
 eeding thirty 
 
 11 the laws re- 
 
 ngton, Roger 
 
 District must 
 it of its condi- 
 thirty-first day 
 ;he first day of 
 5t that foreign 
 ther than that 
 5t day of July, 
 ars required by 
 commissioners, 
 ents from any 
 y of its officers 
 r and proper to 
 )f which state- 
 3s and oaths of 
 lary. No com- 
 f it within the 
 : notification by 
 
 the Commissioners, or any two of them, while such neglect continues: 
 and any company or association neglecting to make and transmit any 
 statement required shall forfeit one hundred dollars for each day's 
 neglect. 
 
 Every fire insurance company, to entitle itself to the written au- 
 thority by this act required to transact business in tjio District, shall 
 have assets equal to its liabilities, including a reinsurance reserve lia- 
 bility equal to fifty per centum of premiums received upon one-year 
 risk, and an amount proportitmed to the unexpired time upon all 
 other fire risks. Every company doing an inland or marine business 
 shall have assets equal to its liabilities, inciluding a re-insuranco reserve 
 liability equal to the total premiums charged upon all unexpired inland 
 or marine risks. Every life insurance company, excepting those 
 organized upon the plan of assossTiants on their members, shall have 
 assets equal to its liabilities, including a reserve liability computed upon 
 the basis of the American experience table of mortality, at four and 
 one-half per centum interest. Before issuing any written authority to 
 an/ company to transact business in the District, the Commissioners, 
 or a majority of them, shall satisfy themselves that such company has 
 complied with the law ; and at any time thereafter they shall revoke 
 such authority when satisfied that such comi^ciny has fallen below such 
 requirements. 
 
 No insurance company organized or incorporated under the laws 
 of any of the United States nf America, or of any foreign State or 
 country, shall transact the business of insurance in any of its branches 
 within the District of Columbia, until such company shall have duly 
 constituted some proper pei-son domiciled in the District their agent 
 and attorney-in-fact for the purpose of receiving for them summonses, 
 writs, and processes issuing out of any court having any jurisdiction 
 in said District, and until the evidence of such appointment of such 
 agent and attorney-in-fact, authenticated in a manner satisfactory to 
 the Commissioners of the District, or any two of them, shall be filed 
 in the office of such Commissioners. 
 
 Any insurance company, or any officer or agent of any insurance 
 company, effecting any contract of insurance in behalf of such com- 
 pany when the written authority required by this act shall not have 
 been given by said Commissioners, or after such authority has been 
 revoked, shall be subject to a penalty of one hundred dollars for every 
 offense, to be recovered by due process in the courts of the District. 
 Policies must have copy of the application attached. 
 
 FLORIDA. 
 
 [LeglBlatare meets blenlaliy. Next session, April, 1891.] 
 F. J. PoNA, State Treasurer, Tallahassee. 
 
 Admission, — Every company desiring to transact business in 
 this State must, before admission, furnish the Stat-^ Treasurer — 
 A copy of its charter or act of incorporation. 
 A statement under the oath of the president, or vice-president and 
 
26 FLORIDA. 
 
 Becretary of the company, allowing the name, location, capital stock, 
 assets, an. i liabilities of the company • .ii„i,a 
 
 A written agreement under the .seal of the company, signed by Us 
 president and secretary, agreeing that service of P^ocoas in any cml 
 action against such company may be made upon any agent of the com- 
 pany in this State, and authorizing each agent, for and m i.ohalf of 
 the company, to" admit service of process, and agreuing that service of 
 process upon any agent shall be as valid and binding upon the com- 
 pany as if raaile upon the president or secretary thereof. 
 
 Certtfteatea and vlf/cwi«. -Every company, before trans- 
 aciing any^buleBs in this fitate. shall procure from the State ' Veas- 
 urer a certificate of authority, which shall be renewed annually m 
 
 *°EverV agent shall procure a license for each company represented 
 
 ^ If"ny company fails to pay any judgment rendered against it in 
 this State, an execution having been issued thereon and returned un- 
 satisfied, the Treasurer, when furnished with a properly certihed copy 
 of the record, shall forthwith revoke all certificates of authority and 
 licenses to transact business in this State granted such company, and 
 shall publish notice of such revocation in a newspaper published in 
 Tallahassee or Jacksonville, for at least one week. Such company 
 shall not transact any further business in the State until such judg- 
 ment and all fees and expenses are paid. 
 
 Examinations and Impairments.- ^ ''/'it-lnt 
 the Board of Insurance Commissioners to examine mto the affairs ol 
 any company doing business or applying t6 do business m this State, 
 and whenever the Treasurer shall deem it for the interest of the pub- 
 lic so to do he may publish the result of such examination in one or 
 more newspapers of the State. Whenever any company shdl be 
 found upon such examination to be in an unsound condition, the Board 
 of Insurance Commissioners shall revoke the certificate of authority 
 granted such company, and shall cause notice thereof to be published 
 in some newspaper published at the Capital. 
 
 Mre and ilf<lH«e.- Every company must possess at least 
 one hundred and fifty thousand dollars in value invested in United 
 States or State bonds, or other bankable interest-bearing stocks of tbe 
 United States. Annual statement must be filed in the month of Jan- 
 uary in each year. 
 
 T,iff, — Every company must possess one hundred thousand dol- 
 lars in United Statf.'S or State bonds, or other bankable interest-bear- 
 ine stocks of the United States at their market value, or in mortgages 
 on unincumbered real estate worth double the amount loaned thereon 
 
 Annual statement must be filed in the month of January m each 
 
 year, 
 
 Pees. For filing e^ch statement five dollars. 
 
 Licenses for agents, ten dollars in each county. 
 
 L 
 
 T.- 
 
GEORGIA. 
 
 27 
 
 capital stock, 
 
 aignod by its 
 1 irt any civil 
 It oC the corn- 
 in !)ohalf of 
 hat service of 
 ipon the coni- 
 
 beforo trans- 
 
 State Treas- 
 
 1 annually in 
 
 y represented 
 
 against it in 
 1 returned un- 
 certified copy 
 authority and 
 company, and 
 r published in 
 >uch company 
 itil such judg- 
 
 ig the duty of 
 ) the affairs of 
 i in this State, 
 8t of the pub- 
 ition in one or 
 pany shall bo 
 ;ion, the Board 
 e of authority 
 be published 
 
 ossess at least 
 sted in United 
 V stocks of the 
 month of Jan- 
 
 I thousand dol- 
 3 interest-bear- 
 r in mortgages 
 oaned thereon, 
 anuary in each 
 
 TaxeH, — An annual State tax of two hundred dollars is required 
 to be paid by each company. 
 
 Penalth'H, — Kvery company willfully making a falflc return or 
 statement, shall be liable to a fine not less than five hundred nor more 
 than five thousand dollars. 
 
 Anv [Mirson violating any of the provisions of law relating to insur- 
 ance shall bo fined not e.xceeding one thousand dollars, or imprisoned 
 not more than six months, or both. 
 
 ASBKS8MRNT INHURANCK. 
 
 The above requirements are applicable to assessment companies. 
 
 GEORGIA. 
 
 [LegUlatiire ni«eU biouDialiy. Next teulon, November, 1800.] 
 
 W. A. WuKiHT, Comptroller-general and Insurance Commissioner, 
 
 Atlanta. 
 
 AflmlHMlon. — Every company desiring to transact business in 
 this State shall, before admission, file with the Insurance Commis- 
 sioner — 
 
 A certified copy of its charter or act of incorporation ; a statement 
 under oath, showing the name and location of the company, and its 
 condition on the .'Jlst day of December then next preceding. 
 
 Certifirates ami Afientn. — Tho Insurance Commissioner 
 shall issue to all companies complying with the provisions of law, and 
 to all agents such companies may appoint and commission, certificates 
 of authortty to transact business in this State, which shall be renewed 
 animally. Every agent, before transacting business in this State, must 
 procure a license. 
 
 Fire, Marine, Life, and ^f?p/<few<.— Every company 
 must possess at least one hundred thousand dollars, invested in bonds 
 and stocks, estimated at their market value, or in mortgages or real 
 estate, worth double the amount for which the same is mortgaged. 
 Semi-annual statements showing the conditions of the company on the 
 .30th of June and the 3l8t of December, of each year, must be filed 
 on the succeeding first days of July and January, or within sixty days 
 thereafter, and must publish a duplicate thereof in a newspaper of 
 general circulation, published in the town or city in the State where 
 the agent making the report is located. The above statement is to be 
 made to the Governor. Annual statements must be made to the Comp- 
 troller-General on the Ist day of January in each year, or within sixty 
 days thereafter. 
 
 Re-Insurance Reserves. Reserves for fire insurance companies 
 are to be computed at fifty per cent, of premium on all policies having 
 
IMPI |M^<WWWPM^I^ 
 
 28 
 
 GEORGIA. 
 
 Life Actuaries 
 
 less than one year to run; pro rata on all othora. 
 Table and four pot cent. 
 
 DepoHttH. — LiFK- All lifo and accident companies of other 
 States of the Union, or of foreign states, must show that tliey have 
 deposited with the proper officer of their own State, or of this State, 
 not less than one hundred thousand dollars, in such securities as he 
 may deem equivalent to cash, subject to his order, as a guarantee fund 
 for the security of pohcy-holders. 
 
 FraE AND Mauine. Must deposit with the Treasurer of this State 
 bonds of this State or of the United States, of the face value of 
 twenty-five thousand dollars, before receiving license of the Comp- 
 troller-General. 
 
 Fee»» Filing charter or certificate of no change or amendment 
 
 since last report, twenty dollars. 
 
 For filing each statement of the company, twenty dollars. 
 
 For certificates to 8.gents, three dollars. Also reciprocal provis- 
 ion in reference to fees. 
 
 Taxes. — Every company, and the agents of every foreign com- 
 pany, must make a written return, under the oath of the presiding 
 officer of the company, or such agent, to the Comptroller-General, for 
 the year ending on the 30th of April, showing the total amount of 
 premiums received in the State by agencies, and must pay, on or before 
 the first day of July in each year, a tax of one per cent, thereon. 
 Each agent shall also pay a tax of ten dollars in each county in which 
 such agent does business. Special, general, and traveling agents pay 
 fifty dollars for the State at large. 
 
 Penalties. — All persons convicted of violating any of the pro- 
 visions of law relating to insurance shall be fined not less than one 
 hundred dollars, nor moro than one thousand dollars. 
 
 For default in payment of taxes, five hundred dollars, and impris- 
 onment not to exceed six months. 
 
 ASSESSMENT INSURANCE. 
 
 Adtnisslon. — Assessment companies must file copy of charter, 
 or articles of incorporation; a statement of its business and condition 
 for the year ending the preceding 31st of December; a certificate 
 sworn to by the president and secretary that it has paid and has the 
 abihty to pay its certificates to the full limit named therein; that they 
 are only payable to beneficiaries having an insurable interest; that an 
 ordinary assessment will pay a full loss; a certificate from the proper 
 officers of its home State that it is legally entitled to do business 
 there; a copy of its application, and of its constitution and by-laws. 
 
 It must also execute a power of attorney authorizing some resident 
 of this State to accept service of process. 
 
 L_ 
 
ILLINOIS. 
 
 29 
 
 fe Actuaries 
 
 ies of other 
 it thoy have 
 f this State, 
 urities as he 
 Eirantee fund 
 
 of this State 
 aco value of 
 ; the Comp- 
 
 Agents* — Licenses must be taken out, and must be renewed 
 annually. Any one who receives or transmits an application other 
 than his own is deemed an agent. 
 
 Annual StatementH must bo made on or before the first of 
 March of business of year ending preceding December thirty-first. 
 
 Jt^eeH, — Same as required of all other companies. 
 
 l*en(llt,iefi, — F^or transacting business without license, not loss 
 than fifty, nor move than one hundred dollars for each offense. 
 
 Taxes, — One per cent, on the gross amount received on busi- 
 ness done in the State. Returns to be made by companies on or 
 before July first for the year ending April 30th. 
 
 r amendment 
 
 lars. 
 
 irocal provis- 
 
 foreign com- 
 the 'presiding 
 '-Oenerai, for 
 »1 amount of 
 , on or before 
 lent, thereon, 
 inty in which 
 ig agents pay 
 
 ny of the pro- 
 less than one 
 
 J, and impris- 
 
 •py of charter, 
 and condition 
 a certificate 
 i and has the 
 ein; that they 
 ^rest; that an 
 om the proper 
 o do business 
 ad by-laws, 
 some resident 
 
 ILLINOIS. 
 
 [L«gltl»tarc moetft blennally. Next souion, .Tanuary 7, ISQl.] 
 Chas. W. Pavey, Auditor of Public Accounts, Springfield. 
 
 Adniissiont — Every company desiring to transact business in 
 this State before admission must file with the Auditor of Public 
 Accounts — 
 
 A written application for a license to do business in this State, 
 signed by its president and secretary, with its corporate seal attached, 
 which statement shall contain the following declaration: That it 
 desires to transact the business of insurance in this State; that it will 
 accept a Hcense therefor, according to the laws of this State; that said 
 license shall cease and terminate in case and whenever it shall remove, 
 or make application to remove, into any United States court any 
 action or proceeding commenced in any of the State courts of this 
 State upon any claim or cause of action arising out of any business 
 transaction, in fact, done in this State ; any permission, consent, ai^ree- 
 ment, condition, or provision incorporated in any contract, mortgage, 
 note, bond, obligation, or policy of insurance, authorizing or consent- 
 ing to such removal, to the contrary notwithstanding. 
 
 And must also file — 
 
 A certified copy of its charter or deed of settlement. 
 
 A statement under the oath of the president or vice-president, or 
 other chief officer and secretary of the company, showing the name 
 and location of the company, the amount of its capital, and its assets 
 and liabilities in detail. 
 
 A copy of the last annual report, if any, made under the law of 
 the State, by which such company was incorporated. Such company 
 shall appomt an attorney in this State on whom process of law can be 
 served, and file in the office of the Auditor a written instrument, duly 
 signed and sealed, certifying such appointment, which shall continue 
 until another attorney shall be substituted. 
 
 Jl 
 
80 
 
 ILLINOIS. 
 
 Cvt'tlftvati-H ami Jf/r/lY^. — Bv^ry company muHl, prmrure 
 from \.\w AiKiitur of TuhlKt AccoiintH a corlilicuU' or licotiao bofuio 
 doing l>u8im«H in ili*' Stnto. , • . 
 
 Evory iigont, buforo triuiHacting any businoHs in this htaU>. niuHt 
 procurt) fioin the Auditor a curtilicalo of authority, showing tlmt tlio 
 coMMmny for which ho iictH has complied with all tho rociuironicntB of 
 law, and stating tiio naino of the attorney appointed to act for such 
 company, which corlincate whall l)u nmowod annually. Every agent 
 of a lire or marine insurance compauy, in all advertiHenients of Huch 
 agency, sliall puhliwli the location of tho company, giving the naine of 
 the city, town, or village in which tho company i» located, and tho 
 State or government under tiie laws of which it iw organized. Every 
 agent of a lif(! insurance company shall exhibit, in conspicuous letters, 
 on tho sign designating his j.lace of business, the name of the State 
 under whoso authority the company is incorporated, and shall print 
 the name of said State in large typo upon all policies issued in this 
 State, and on all placards, [)ainphlets, and circulars published, issued, 
 or circulated in this State relating to tho business of such company. 
 
 KramhtutloitH and tmpalruientH. — \i is the duty of 
 the Auditor, whenciver ho deems it expedient, to examine into the 
 allairs of any company transacting business in this State. Whenever 
 he shall d<!em it for tlie best interest of the public, ho shall publish the 
 result of such examination in one or more papers in this SUte. If it 
 shall appear from such examination that tiie affairs of any company 
 are in an unsound condition, tho Auditor shall revoke the certificates 
 granted in behalf of such company, and cause notice of such reyoca- 
 tion to be published in a newspaper of general circulation published 
 in the city of Springfield, and mail a copy thonjof to each agent of tho 
 
 company. . ■ ^t • a* * p 
 
 No fire or marine company can transact business in this State it 
 its capital is impaired to tho extent of twenty per cent, while such im- 
 pairment shall exist. Life companies must possess assets «qual to 
 their outstanding liabilities and premium reserve, computed as required 
 
 Every company making any false statement or report shall have 
 its certificates revoked and the fact published. Every company trans- 
 ferring a cause to the United States court shall also have its certificates 
 revoked. 
 
 Mre and JUfnWwe. — Every joint stock fire and marine com- 
 pany doing business in the State must possess a paid-up cash capital of 
 not less than one hundred thousand dollars. Annual statements inust 
 be filed on the first day of January in each year, or withm thirty days 
 thereafter, showing the condition of the company on the preceding 
 3l8t day of December. The Auditor shall cause such annual statements 
 to be published in two daily newspapers of general circulatior not less 
 than fifteen "".ays. One of said newspapers shall be published in Chi- 
 cago and the other in Springfield. The re-insurance fund is computed 
 at the gross amount of unearned premiums on unexpired risks. 
 
 Companies doing busir< ■ in this State are not permitted to assume 
 any one risk greater than -on per cent, of their paid-up capital. 
 
ILLINOIS. 
 
 81 
 
 i8l. prmiure 
 mm before 
 
 ■>taU), iMUitt 
 iig that tho 
 irniiu'iitH of 
 ct for Huch 
 ivory a^ont 
 IltH of Hiich 
 ,ht' naino of 
 wl, and tho 
 oil. Bvory 
 10U8 lottors, 
 if tho State 
 1 aliall print 
 sued in this 
 ihod, issued, 
 company. 
 
 the duty of 
 ine into the 
 Whenever 
 publish the 
 Stote. If it 
 ny company 
 n cortificates 
 such revoca- 
 )n publislied 
 agent of the 
 
 this State if 
 •ilo such im- 
 ets aqual to 
 I as required 
 
 ■t shall have 
 Tipany trans- 
 ts certificates 
 
 marine com- 
 ish capital of 
 omenta must 
 a thirty daya 
 he preceding 
 al statements 
 fttion not less 
 ished in Chi- 
 i is computed 
 . risks. 
 
 tod to assume 
 apital. 
 
 I 
 
 Every advertiscinont, public iinn<)un('('iiumt, sifrn, circulaf, or card 
 liereufter issued by any conqiany or its agents authorized to trannnot 
 lire insurance ImsinesH in this State, pur|iorting to show the financial 
 condition of tlie conipiiny, sliall exhibit the amount of capital actually 
 paid in cash, und not surplus us allowed by the Auditor of I'ublic 
 Accounts of Illinois over all liabilities, and shall show its conditions, 
 as exhibited in its last preceding statement to the insurance depart- 
 ment of this State, and shall not claim or state any funds or assets to 
 be in possession of such company not actually possessed by it. 
 
 Platv (rffisH, Stt'diH Jioifrr, and JfiMccffatH'otiH 
 CinnpaitlvH. — ThoNo companies are subjciit to the Haine laws which 
 control fire, nuirinc, and inland insurance companies, but are required 
 to have only one hundred thousand dollars cai)ital actually paid up, 
 and must deposit with tho State Treasurer of this State, or the proper 
 officer of the State whore tho company is organized, securities duly 
 a.ssigned in trust for tho benefit of its policy-holders, tho market valiio 
 of which sliall, at all times, bo equal to one hundred thousanrl dollars. 
 
 Life, — Every life insurance company doing business in this State 
 must possess actual assets to the amount of at least one hundred thou- 
 sand dollars, properly invested. Annual statements must bo filed on 
 or before tho first day of March in each year, showing the standing 
 and affairs of the company on tho preceding 3 1st day of December. 
 The Auditor, for good and sufficient reasons, may extend the time for 
 filing such statements. The Auditor shall cause such statements to bo 
 published in two daily newspapers of general circulation not less than 
 one month. One of said newspapers shall bo published in Chicago, 
 and tho other in Springfield. 
 
 If any company shall transact business in this State, and its out- 
 standing policies are not valued by the insurance department or proper 
 officers of any other State, the Auditor shall make a valuation of tho 
 policies of such company. The basis of such valuation shall b(! tho 
 Actuaries' or Combined Experience Table of Mortality, with interest 
 at four per centum por annum. 
 
 Fofelfjfh. — Every foreign company shall either file with tho 
 Auditor a certificate from the Superintendent of tho Insurance Depart- 
 ment of some other State, showing that a deposit of securities to the 
 amount of two hundred thousand dollars has been made by such coin- 
 l)any in that State, for tho protection of all its policy-holders in the 
 United States, which certificates shall be renewed annually, or such 
 company shall deposit with the Auditor securities to the amount of 
 two hundred thousand dollars for tho general benefit and security of 
 policy-holders residing in the United States. Annual statements must 
 be filed on the first day of January in each year, or within thirty days 
 thereafter, showing the condition and affairs of the company on the 
 preceding Slst day of December. The filing of home oflice state- 
 ments is discretionary, but unless such statements are filed the adver- 
 tising of foreign assets is prohibited. Such homo oflBce statements 
 must bear the saniO date as the statement of business in tho United 
 States. Special de^msits made in any State for the exclusive benefit 
 of the insured in such State are not to bo counted as assets. 
 
sa 
 
 ILLINOIS. 
 
 United Biav\ Brunch annual HlttUttn.mU, diilv verifiod by the resi- 
 (lont rnaniiK'J'", Hhowinn tho invimtmontH and rondition of the company 
 in tho UniU)d HtatoH on tho procodmg 3l8t day of Ducotnlior, Mhall \m 
 fliml on tiio firMt day in January in oacli y«ar, or within thirty dayi 
 thoniaftor. Foreign lifo companitis ahall f^lo ihoir annual Htatoinonti 
 on or boforo the llrst day of April in ()a<;li year, showing their con.ll- 
 tion on tho preceding 3l8t day of Docoinbor. 
 
 Accident. — Every accident insurance company must powosn a 
 paid-up capital of at leaHt one hundred tliou«and dollarg, dejmited in 
 itH own State or in this State, to enable it to do businow in the State. 
 Annual statements must be filed on or before tho first of March in each 
 year. A reinsurance reserve of fifty [tor cent, of the gross [)rernium8 
 on all outstanding policies must be ma-ntained, and no company is 
 allowed to do business where its capital is unpaid to tho «)xtent of 
 twenty-five per cent, thereof. Every agent must procure a certificate of 
 authority from tho A uditor stating that such company has complied with 
 all tho laws of tho State relating to such companies, which shall continue 
 in force until tho first day of March next after its issuo, unless revoked 
 for cause. Tho penalty for making insurance in violation of tho laws 
 of the State regulating accident life insurance companies is tho forfeit- 
 ure for each offense of a sum not exceeding one thousand dollars. It 
 is the duty of the Auditor to make an examination of any company 
 doing business in this State whenever he shall doom it expedient, and 
 the •)xp«m8e8 incurred are to be paid by tho company examined. 
 
 Every compaaiy must in entering appoint an attorney for service 
 in the State, and must file a written application for license stipulating- 
 not to remove suits from State to federal courts. 
 
 FeeH.—- For filing certified copy of charter or deed of tettlement, 
 thirty dollars. 
 
 For filing annual statement, ten dollars. 
 
 For each agent's certificate of authority, two dollars. 
 
 For copies of papers on file in tho office of the Auditor, per folio, 
 twenty cents, and for affixing the official seal to such copy and certify- 
 ing the same, one dollar. 
 
 For valuation of lifo policies, three cents for each one thousand 
 dollars of insurance valued. 
 
 For examinations, the actual expenses incurred. 
 
 Also a reciprocal provision in reference to foes, greater than those 
 herein given. 
 
 Taxes — Every agent of any fire or marine company shall 
 annually, in the month of May, return to the proper officer of the 
 county, town, or municipality in which his office is located, the amount 
 of his net receipts as such agent for the preceding year, which shall 
 be entered upon the tax lists of such town, county, or municipality, 
 and be subject to the same rate of taxation — State, county, town, and 
 municipal — for all purposes as personal property is subject to. at the 
 place where such agency is located. Such tax is m lieu of ftU town 
 and municipal licenses, except that cities having an organized fire 
 department may levy a tax or license fee, not exceeding two per cent. 
 
 
 I 
 
ILLINOIS. 
 
 38 
 
 by the resi- 
 le company 
 Kir, Hhnll bo 
 thirty dayH 
 Hl.utuiiiuntH 
 their comii- 
 
 Ht poKROM a 
 
 lofKiHitod in 
 in the State, 
 arch in each 
 iS [)remiuni8 
 company is 
 e extent of 
 certificate of 
 t)mpliecl with 
 liali continue 
 ilesB revolted 
 I of the laws 
 a the forfeit- 
 1 dollars. It 
 iny company 
 ;pedient, and 
 lined. 
 
 y for service 
 e stipulating 
 
 >f ■ettlement, 
 
 or, per folio, 
 f and certify- 
 
 one thousand 
 
 it than those 
 
 )mpany shall 
 officer of the 
 1, the amount 
 :, which shall 
 municipality, 
 ty, town, and 
 ject to, at the 
 1 of all town 
 jrganized fire 
 two per cent. 
 
 ii|M)» the j^n.MS premiuiii receipts of any mucIi compiiny in Huch city, 
 to b«> applied oxclimivfly to the HUp|H)rt of the (ire dep»irlin<<ht. 
 
 AIko a ruciprocnl proviHii>n in reterunce tu laxeu greater than thuite 
 impoMed by the laws of tliiti State. 
 
 l*vnalth'H, — Kvery (ire or marine com|)any failinji to file Htate- 
 meiit AH ri'ijuired by law, or to luirtwer any iiupiiry maile by the 
 Auditor, Hliali be siibji-ct to a penalty of five hundred dollars, and an 
 additioniil penalty of five hundred dolIarB for every month such com- 
 pany xlinll continue thereafter to tranHiict bu8nii>HH in thitt State. 
 
 Any violation of any of the provisionfi of the laws relating to insur- 
 ance shall subject the offender to a penalty of five hundred dollars for 
 such otT(;nHe. 
 
 Every life rotiipany negl(!Cting to file a statement within the time 
 prescrilwMl by law mIiuII be subject to a line of one hundred dollars 
 each day such neglect continues. 
 
 ASSKBSMKNT INSIIKANOIC. 
 
 ylr/w* /««/«/*.— Assessment companies applying for admission 
 must deposit with the Auditor a certified copy of its charter or articles 
 of incorporation, a co[)y of its HtateniMiit of business for the preceding 
 year, sworn to by its president and seiiietary, or like ollicers, showing 
 a «letaile<l account of exjHUiscs and income, the amount of life idem- 
 nity in force, its assets and lialiilities in detail, number of members, 
 and a certificate sworn to by the president and secretary, or like ofTi 
 cers, setting forth that an ordinary assessment upon its members is 
 BuflRciont to pay its maximum certificate of membership to the full 
 limit named therein ; a certificate from the State official charged with 
 the enforcement of the insurance laws, or, if there Ixi no such official, 
 a certificate from the Attorney-General of its homo State certifying 
 that corporations, associations, or societies, furnishing life idemnity 
 on the assessment plan, and whose ordinary assessments are aafficient 
 to pay its maximum certificate in full, and are chartered umlerthe laws 
 of this State, are legally entitled to do business in its home State; a 
 copy of its policy or certificate of iiiemborship, application, and by- 
 laws, which must show that death losses are in the main provided for 
 by assessments upon the surviving members ; and it shall legally desig- 
 nate a person or agent residing in this State to receive service of 
 process for said corporation, or, in default of such designation, that 
 service of process may be made upon the Auditor of Public Accounts 
 of Illinois, who shall be deemed its agent for that purpose. By a 
 reciprocal provision companies and agents are also subjected to the 
 same obligations imposed by the laws of their own States. 
 
 JiJuraminafionH. — The Auditor has authority to examine com- 
 panies, and if found unsound or fraudulent shall report to the Attor- 
 ney-General, who shall commence proceedings to revoke its license. 
 
 Fees. — The Auditor shall receive a fee of twenty-five dollars for 
 licensing each company. 
 5 
 
34 
 
 INDIANA. 
 
 i'ennltU'M,— For «JuinK biwin.tM for uimuthoitodi companioa a 
 fliHMif not inoro iliaii ..m- ihoiiiwii.l dolUni, or impH»onm«iit for n«)t 
 nior« than ono year, or Indh. 
 
 INDIANA. 
 
 [L<-Rl»lalur( inarU bUiiiilally Naxt Muflon, J*nii*ry, tWl) 
 
 Uhuck (;am«, Auditor of StuU, Indianai'olih. 
 
 AtltniHHlon. — Kvury compftiiy doBirinj? to transact himinoM in 
 tluH.stttto imirtt, Imforii udinisHioii. posHOHH at loaul two hun<lr»fd thou. 
 Hand dollat-H, a<anal capital, invoBt«><l in tho stocks or bomln of the 
 United HtatoB or of tho various StaU'8, or in bonds socurod by mort- 
 gages of unincunilHJted roal tsstato worth doublo tho amount of such 
 mortgiigo. Such company shall also Hit) with tho Auditor — 
 
 A cortiflod copy of tho act of incorporation or charter of such 
 
 company. , ^, 
 
 A Htalomont, under tho oath of tho president or secretary of the 
 company, showing tho name, location, capital stock, and condition of 
 the company. 
 
 A written instrument, under tho seal of tho company, signed by 
 the president and secretary, authorizing any agent of tho company to 
 acknowledge service of process for and in behalf of tho company, and 
 consenting that service of process upon such agent shall be token and 
 held to be as valid as if ^-rved upon tho ompany, according to tho 
 laws of this or any other State, and waiving all claim of error by 
 reason of such service; also that, if at any time the company shall have 
 no agent in the county, that service may bo made upon tho Auditor 
 of State. 
 
 CeHftieates and J f/cn^s.— Every agent, Iwf ore transacting 
 business, shall procure from the Auditor a certificate of authority, 
 which shall be renewed semi annually upon filing with tho Auditor the 
 semi-annual statement, m required by law. Tho agents shall file such 
 certificate, together with a cortiflod copy of the statement on which it 
 was obtained, with the Clerk of the Circuit Court of the county in 
 which such agency is established, who shall prosorve the same for 
 public inspection. [It has been held that an agent can only do busi- 
 ness in counties where certificate and copy of statement have been 
 filed.] If any company shall sustain any loss upon policies issued in 
 this State, it is the duty of the agent by whom the insurance wa« made 
 to retain in his hands all moneys belonging to such company which 
 may then bo or thereafter come into his possession, until such loss is 
 adjusted and paid. The insured who has suffered a loss may also 
 notify any other agent of such company thereof, who shall in like 
 manner retain all money belonging to such company which is then in 
 or shall thereafter come into his hands. If suit be commenced by the 
 party insured against the company, the agent may deposit in court 
 
 I 
 
INDIANA. 
 
 M 
 
 liitpaitii!)* a 
 iitt fur not 
 
 luainoM in 
 (lr«d thou. 
 hIh of tlio 
 il by niort- 
 lilt of auoh 
 
 or of such 
 
 lUiiy of the 
 onditioit of 
 
 ■, Rignud by 
 •ompany to 
 npauy, and 
 I ttikuii and 
 ding to tho 
 of error by 
 yHball have 
 ho Auditor 
 
 transacting 
 f authority, 
 Auditor the 
 all fde Buch 
 on which it 
 county in 
 10 Bamo for 
 niy do busi- 
 , have been 
 ieB issued in 
 ;e WB8 made 
 ipany which 
 such lo83 is 
 )B8 may also 
 hall in like 
 h is then in 
 meed by the 
 iit in court 
 
 tlouble the amount mentionoil in thn policy, to nbido th«< ovont of tbt 
 Nuitj or if the party iimurnd Hhall mil roniriwiirn HUit within iiinttV 
 daya after the agent Mhatl have given written notice to him that atlOD 
 loM will not he paid, the agent may th<*reaft«*r |Niy ovar th« money in 
 hia hand* to the comiiaiiy. 
 
 Flret Marlnf, find /^//f.--Sut«'mi«nta nhall be Hied with 
 tho Auditor Hemiannuaily. in the monthn of January ami July, and 
 the Auditor ahall cauMi a copy of Huch lutmiannual Mtatoinent to be 
 mibliahed in the two leading liaily nnwapaiwni of the Htate having the 
 largeHt gnnora! circulation. 
 
 No inauraiice company Hhall insert any condition in any |Kilicy 
 hereafter iNHued requiring the iuHured to give notice forthwith, or 
 within a period of time Iohh than live days, of the Iohh of the iuHured 
 property; nor ahall any condition be inxerted in auoh policy requiring 
 the insured to procim) the certificat«f of tho nearest Justice of the 
 {xiaco, mayor, judge, clergyman, or other t)fli(Mal or person, of such loss, 
 or tho amount of such loss; and any provinion or condition contrary to 
 the provisiona of thia section, or any condition in said [xilicy, inserted 
 to avoid the provisions of thia aection, rhall bo void, and no condition 
 or agreement not to aue for a {wriod leas than three years, shall Iw 
 valid. 
 
 F^ovetffn. — Foreign comtianies must itossoss one hundred thou- 
 sand dollars held within the Ifnited States by a citi/en or citizena 
 thereof as iho agent or agents, trustee or trusti'tw of such company, 
 for the protection and benefit of its policy-hoKUirs within tho United 
 States. 
 
 PeeH, — For examination of statoinenta and investigation of ovi- 
 dences of investment, five doUura. 
 
 F\)r a<!cepting service as attorney, three dollars, and for filing copy 
 of same, five dollars. 
 
 For each certificate of authority, two dollars. 
 
 To Clerk of Court for filing certificate and statement, fifty cents. 
 
 To the Auditor all expenses actually incurred in 'the examination 
 of any insurance company. 
 Reciprocal provision. 
 
 Taxes, — Plvery company shall, in tho months of January and July 
 in each year, report to tho Auditor, under tho oath of its firosident 
 and secretary, tho gross amount of premiums received in the State for 
 the six months procediuf^, ending on tho last days of December and 
 June in each year, and shall, at tho same time, pay the State Treasurer 
 the sum of three dollars for every one hundred dollars of such pre- 
 miums, less losses actually paid within the State. 
 
 PenaltleH, — Any person violating the provisions of law relating 
 to insurance shall bo fined not u.<ceedin>r ono thousand dollars, or 
 imprisoned in the county jail not more than thirty days, or both. 
 Any company neglecting for more than thirty days to render an 
 account of its premiums received and pay tho tax thereon, as required 
 by law, shall forfeit one hundred dollars for each additional day such 
 report and payment shall be delayed. 
 
16 
 
 IOWA. 
 
 AMIMMURNT INatlNANrl. 
 
 Ailntltntton.— f^ny comtwny of oihor Hut.' mul f.ir»iKii g«>v.»rn- 
 in«'nl ««okinK .i.liiiiMi<>ii iiuui .l..|>..>.il with lli.« Audit-.r of Hut.t u r«r- 
 tirtml oopy of lU .httrutr or iirli.'h- of iricorponaioii ; it copy of iU 
 ■UUm«nt of »m«iiirt«ii for ili" pn-c-lmn y-nr, wiiti i\w imm.m anU 
 n»tidonc.i of iu offlcMW. nworti to by tlm pnwi.loiit uml noorntary, or 
 llkii ofUfHr*. nhowing » .l«t.»il.«a nccoimt of oxjm.hwhi aikI incoinjj, Uio 
 ftrnouiit of iimurwi.-.. in fore... itn imat* »n.l Imhihtlu* lt» .l«Uil. and 
 •uttinir forth that it hiw ihfl ability to pay itn |Kihci..« or oLrtllUraiHii to 
 thM full limit nainoil th.'n'iu, a o-rlillonti' from tho InmiriuicM ( oin- 
 miMloiier or from a jii.lK.-or clork of a court of n-cor-l of it« liotnn 
 8tat«) rurtifyiiiK lliat coriHiralionn or n^o.-iatioHn iiiHiiniiK lif« on the 
 »M.ni».in.-nr pini., a.ul puyii.K poli.Mcm in full or pruvi.linn m-n.l.mt. 
 indomniii.'* aii.l rh»rl«r.Ml uml.T Ml- iaw« of thm Statu hri» htnally 
 •Oiiti.ul to do buHiti.-HH in itK homo Stat..; a copy of itM policy or cnrti- 
 floato of m«iii».or»hip. ttp(.licallon, and by Inw^ which immt nhow that 
 death h)HW« arc, in the main, t.rovidcl for by .laHoHHinetit upon tho 
 •urvivinir incintM.iH; and it Hhali U-Kiilly d.'«iKnafo a pomon. agent, or 
 attorney in fact n.mdii.K m thin Htato, upon whom fcrvicc of prm!c«« 
 for aaid company or iwHociation may Iw made, and in default of 
 ■uch dwiKnation, norvicc of r.roc.-HB may be iiind.- niioii the Auditor of 
 State of thiH Htatc, who «ha(l b.* dcomcl iti »K«nt for that pirpoae, 
 and h« Hhall iinmediiitely notify any corporation f)r aatociation thua 
 ■orvod. 
 
 AnnunI Statements mutt bo mailo and llled previom ♦« 
 AugUHl thirty-flmt. 
 
 |,Vv'N.— ^'or admiHHion, twentyflvc dolIafH. 
 
 H'or Hling annual 8tatcrncat«, ten dollarH. Thia act do«« not apply 
 to Becret or fratnrnal nocifltie*. 
 Itociprocal provision. 
 
 IOWA. 
 
 ll^gJpUmre meeU blentiUlly. Nvit •osnloii, January, IHOO ] 
 Jamm a. Lyons, Auditor of Stale, DkhMoinkb. 
 
 AdnilHHiotl. — Rvory company desirinpc to transact buHinoHB in 
 this State, before admission, must file with the Amlitor — 
 
 A certified copy of its charter or ;! -ed of sottlenient. 
 
 A statement, under oath of the presidnnt. vicepresidfmt, or other 
 chief officer and secretary of the company, giving the name, location, 
 and capital stock of the company, and showing its condition. 
 
 A copy of the last annual report, if any, made by a fire or marine 
 company under the laws of the State by which such company was 
 
 incorporated. . . » j i 
 
 Fire and marine companies shall also file a written instrument, duly 
 signed and sealed, authorizing any agent of the company to acknowl- 
 
IOWA 
 
 IT 
 
 lutit u ('i<r- 
 'Dpy of it* 
 miiiim ftitil 
 cri*tary, or 
 ncoiiitf, tlifl 
 •lutAil, Anil 
 ■tilli^atim to 
 lUiCM (!uin- 
 r itN lii>tit«t 
 lifu on the 
 H u{'<'i<l<<iit 
 hri« loyally 
 cy or rnrti- 
 I nhow that 
 t it|)()U tho 
 II, »K«'rit, or 
 I of jtriKrims 
 (ixfiiult of 
 Auditor of 
 III |)<rj)OB«, 
 siation thiiH 
 
 pr«!vioiiR to 
 
 w not apply 
 
 8. 
 
 t buHinc8a in 
 
 »nt, or other 
 
 ino, location, 
 
 on. 
 
 ro or marine 
 
 ompany was 
 
 Tument, duly 
 to Acknowl- 
 
 
 I'dMti NiTviri' <,( |iriM'i>itH for and in tiohaif of iho <'<i)ii|Hiny, and cunitont- 
 int{ (hut M«<rvi)'i< of pr<M?i>iM ii|him any mihIi n({t>nt Nhiill li«> trtkcti himI hi*ld 
 to !)«< valid, an if Mttrvod upon thn loiiipuiiy, and wnivinK all < luiin or 
 right of ttrror Ity niaMori of Hindi •K^ktiuwlt'ilf^nitiiit or luirvictt. 
 
 Iiifit i:oin|wiiii-ii ahall a|i|M)iiii an ntloriniy, nr aKmit, on whom pro' 
 <i<MM of law can ho mirvtid, in i>ai-h couniy in which thu company ha* 
 an af{iincy, and lilt) with tho Auditor a copy of micli curtillcatn of ap- 
 poiutinttnt. Hindi »p|K)intin<Mit nthuli continue in fortu) until another 
 attornay Ini nubMtitutnd. 
 
 Any fortiign or othnr HtatM corporation midmI or impli<ad<>d in any 
 of thu courts of thirt Statu upon any i!ontractM iniidn or uxticuli'd in 
 thifl Statu or to Ut purforincti in thin .Statu or for any net or otniMMion, 
 |iiililic (*r privikt<>. iiriMiii),;, origiiiatiiiK, or liiipi ciiiiik in thu Statu, who 
 mIkJI rt'tnovn any niicIi catmu from niii h .Statu court into any of thu 
 fu(h>ral courtH held or Hitting in tlim Statu, for thu iiuimo that MUidi cor- 
 poration in a noiiruMidunt of tliiM .Statu or a ruNidunt of anothur Htato 
 limn that of thu advurKu party, or of local prujudicu against niich cor- 
 jioration, mIiiiII thuiuiipon forfuit and ruiidcr null and void any {KMinit 
 iMHUud or authority granted to audi corporation to tramiact hutinuHa in 
 tliia State. 
 
 Cfrtl/iraffH ami Af/entn. — Rvory company doing a (Iru or 
 marinu huMinu«H in this .Statu Hhall prociiro from thu Auditor, and pub- 
 Imh annually in two ncwspapura of goiiuial circulation, oriu of which 
 hIihII bu imbliHliod at thu capital, a cortiticatu showing that Much com- 
 pany ban in all re»iM?ctM complied with tho laws of thu Statu relating 
 to insurance, and containing a Htutument, iuub>r thu oath of the presi- 
 dent or secretary of Hindi company, stating thu actual amount of paid- 
 up capital, thu aggrugatu amount of asHcts and liabilities at the date 
 of such certificate, toguthur with the aggn-gate income and ox|iutidi- 
 turo of Hixdi company for thu year preceding 
 
 Every company tloinga life businesH shall procure from the Auditor 
 a certillcato annually, which shall be recorded in the office of the re- 
 corder of the county in which the principal ollice of tho company is 
 located in this State. 
 
 Every agent of a fire or marine company shall annually procure 
 from the Auditor a certificate of authority. 
 
 Every agent of a life com[!any shall annually procure from tlie 
 Auditor a certifii^ate of authority, and a certified copy of such certifi- 
 cate shall be filed in the county recorder's office of tho county where 
 thu ollice of the ag'^nt is located, and the gttnoral agent shiill procure 
 from the Auditor, and furnish to eacdi local or traveling agent a certi- 
 fied c->py of the corti'^jate of authority issued to the company. 
 
 Every agent, in all advertisements of his agency, shall publisli the 
 location of the company, giving the name of the city, town, or village 
 in which the company is located, and tho State or govornniont under 
 the laws of wliich it is organized. 
 
 EjramfuatlouH and Itnpah'mentH. — The Auilitor may 
 examine the affairs and condition of any company doing business in 
 this State, and may, whenever he deems it for the b(>flt interests, of the 
 public, publish the result of such examination in one or more papers 
 in this State. 
 

 i 
 
 88 
 
 IOWA. 
 
 If it shall appear from Huch examination that the affairs of any 
 company doing Uro or marine insurance business in this State are in 
 an unsound condition, the Auditor shall revoke the certificate granted 
 in behalf of such company, and cause notice of such revocation to be 
 published in some newspaper of general circulation published at Des 
 
 Moines. . . , . „ . , „„„ 
 
 If it shall appear from such examination that the affair^ ot any 
 company doing a liio insurance business are in an unsound condition, 
 or that proceeding further with its business will be hazardous to the 
 public or its poHcy-hol.lers, he shall communicate the facts to the Attor- 
 ney-General, who shall at once apply to a judge of the Supreme or 
 District Court to issue an injunction restraining such company from 
 transacting further business in this State. , • o* * •* -t 
 
 No fire or marine company can transact business in this btateif as 
 capital is impaired to the extent of twenty per cent, thereof, while such 
 deficiency continues. ,. „ .... 
 
 No life company can transact business in this State if its assets are 
 not equal to its liabilities, including its premium reserve, computed as 
 required by law. 
 
 Fire and Marine.— 'S'^Q^y company must possess an actual 
 paid-up capital of two hundred thousand dollars, exclusive of any assets 
 deposited in any State or Territory for the special benefit or security 
 of the insured therein, but any mutual company iiaving two hundred 
 thousand dollars, over and above all liabilities, including the re-insur- 
 ance reserve, shall be deemed possessed of two hundred thousand 
 dollars of actual paid-up capital. Annual statements shall be hied on 
 the first day of January of each year, or within thirty days thereafter, 
 showing tlie condition and affairs of the company on the preceding 
 31st day of December. 
 
 The reinsurance fund is computed at forty per cent, of the pre- 
 miums received on all unexpired risks. 
 
 No company shall expose itself to loss on any one risk or hazard to 
 an amount exceeding ten per cent, of its paid-up capital, unless the 
 excess shall be re-insured in some other good and reliable company. 
 
 Every company shall submit the form of its policy contracts to the 
 Auditor, who shall see that they provide for the cancellation of the 
 same upon equitable terms. 
 
 False statements, advertisements, etc., are prohibited. 
 All insurance companies or associations shall, upon the issue or 
 renewal of any policy, attach to such policy or indorse thereon a true 
 copy of any application or representations of the assured which, by 
 the terms of such policy, are made a part thereof, or of the contract 
 of insurance, or referred to therein, or which may m any manner 
 affect the validity of such policy. The omission so to do shall not 
 render the policy invalid, but if any company or absociation neglects 
 to comply with the requirements of this section, it shall forever be 
 precluded from pleading, alleging, or proving such application or 
 representations, or any part thereof, or falsity thereof, or any parts 
 thereof, in any action upon such policy; and the plaintiff in any such 
 action shall not be required, in order to recover against such company 
 
IOWA. 
 
 89 
 
 lire of any 
 tate are in 
 ite granted 
 ation to be 
 ihed at Dea 
 
 airD of any 
 I condition, 
 dous to the 
 
 the Attor- 
 !5uprome or 
 ipany from 
 
 s State if its 
 :, while such 
 
 ts assets are 
 computed as 
 
 !S8 an actual 
 of any assets 
 t or security 
 ;wo hundred 
 the re-insur- 
 )d thousand 
 
 1 be filed on 
 's thereafter, 
 le preceding 
 
 of the pre- 
 
 or hazard to 
 il, unless the 
 1 company, 
 itracts to the 
 lation of the 
 
 the issue or 
 
 lereon a true 
 
 ed which, by 
 
 the contract 
 
 any manner 
 
 do shall not 
 
 ttion neglects 
 
 A\ forever be 
 
 ipplication or 
 
 or any parts 
 
 T in any such 
 
 mch company 
 
 or associatU'n, either to plead or prove such application or representa- 
 tions, but may do so at his option. 
 
 In any suit or action brought in any court in this 8tate on any 
 policy of insurance against the company or association issuing the 
 policy sued upon, in case of the loss of any building so insured, the 
 amount stated in the policy shall be received as //rn/ia yac/e evidence of 
 the insurable value of the property at the date of the policy; pro- 
 vided, nothing herein shall be construed to prevent the insurance com- 
 pany or association from showing ifie actual value at the date of the 
 policy, and any depreciation in the value thereof before the loss 
 occurred; proviilcd /mlher, such insurance company or association shall 
 bo liable for the actual value of the property insured at the date 
 of the loss, unless such value exceeds the amount stated in the policy. 
 And, in order to maintain his action on the policy, it shall only be 
 necessary for the assured to prove the loss of the building insured, 
 and that he has given the company or association notice in writing of 
 such loss, accompanied by an affidavit stating the facts as to how the 
 loss occurred, so far as they are within his knowledge, and the extent 
 of his loss; which notice shall be given within sixty days from the 
 time the loss occurred; provided further, that no action shall be bogun 
 within ninety days after notice of such has been given. All the pro- 
 visions of this chapter s.'iall apply to and govern all contracts and pol- 
 icies of insurance contemplated in this chapter, anything in the policy 
 or contract to the contrary notwithstanding. 
 
 That in every instance where a fire insurance company or associa- 
 tion, doing business in this State, shall hereafter take a note or con- 
 tract for the premium on any insurance policy, or shall hereafter take 
 a premium note or contract which, ly its terms, or by any agreement 
 or rule of the company or association, is assessable for the premium 
 due on the pohcy for which it was given, such insurance company 
 or association shall not declare such policy forfeited or suspended 
 for non-payment of such note or contract except as hereinafter pro- 
 vided, anything in the policy or application to the contrary notwith- 
 standing. 
 
 Within thirty days prior to, or at any time after the maturity of 
 any note or contract, whether assessable or where the time of payment 
 is fixed in the contract, given for the premium on any policy of insur- 
 ance, such company or association may serve a notice in .writing upon 
 the insured that his note or an installmcit thereof is due, or to become 
 due, stating the amount which will be due on the note or contract, 
 and also tne amount required to pay the customary short rates, includ- 
 ing the expense of taking the risk up to the time the policy will be 
 suspended under the notice in order to cancel the policy, and that, 
 unless pa)Tnent is made within thirty days, his policy will be suspended. 
 Such notice may be served either personally or by registered letter 
 addressed to the insured, at his post office address named in or on 
 the policy, and no policy of insurance shall be suspended for non- 
 payment of such amount until thirty days after such notice has been 
 served. 
 
 The assured may, at any time after the maturity of the note, con- 
 tract, or installment, pay to the insurance company or association the 
 
40 
 
 IOWA 
 
 customary short rates, including tho expense of taking the risk, and 
 the cost of suit in case suit lias been comnu-nced or judgment rendered 
 on the note or contract, and upon such payincjnt, if he so elect, his said 
 policy shall bo canceled, and any note or contract, or any judgment 
 rendered thereon, shall be (lancolcd, and shall b« actually void in 
 whomsoever hands the same may im : provided, that the assured may, 
 at any time before cancellation o"f tho policy, pay to the insurance com- 
 pany or association the full amount due upon any note or contract, 
 and from the date of such payment the policy shall be revived, and 
 shall be in full force and etToct; provided, such payment is made 
 during the time stated in the policy and before a loss occurs; and pro- 
 vided fnrlher, that when any insurance company or association siiall 
 bring suit upon such note or contract, and shall collect the same, from 
 the date of such collection tlio policy shall be revived and bo in full 
 forco from the time of such colhiction; provided, such collection is 
 made during the time stated in the policy, and before u loss occurs. 
 The provisions of this act shall api)ly to and govern all (contracts and 
 policies of insurance contemplated in this chapter, anything in the 
 application or policy to the contrary notwithstanding. 
 
 ■ Ijffe, — Every company transacting business in this State shall 
 possess at least one hundretl thousand dollars, invested in stocks or 
 bonds of the United States, of this State, of the State where located, 
 or of the State where the same are deposited, or loaned on bond 
 secured by mortgage of unencumbered real estate, worth double the 
 amount loaned, situated within the State where the company is located. 
 Such stocks and securities shall be deposited with the Auditor, Comp- 
 troller, or chief financial ofiBcer of the State in which such company is 
 located, or of some other State, and the Auditor furnished with a cer- 
 tificate, under the hand and oilicial seal of tho officer holding such 
 deposit showing that he holds the same in trust for the benefit of all 
 the policy-holders of such company, stating the items of such securi- 
 ties, and that ho believes they are worth one hundred thousand dollars. 
 
 Annual statements shall be filed on or before the first day of April 
 of each year, showing the affairs and condition of the company on the 
 preceding 31st day of December. 
 
 Valuations shall be made upon the basis of the American Experi- 
 ence Table of Mortality, with interest at four and one-half per cent, 
 per annum, or upon the basis of the Actuaries' or combined Experience 
 Table of Mortality, with interest at four per cent, per annum. 
 
 If the policies of any company have been valued by the proper 
 oflBcial of any other State upon the basis above specified, the Auditor 
 shall accept a certificate of such valuation as sufficient evidence of the 
 amount of premium reserve of such company. In the absence of such 
 certificate, the Auditor may value the policies of any company doing 
 business in the State, or may accept, upon sucli evidence as he shall 
 determine, a valuation made by such company. 
 
 In all suits on policies of life insurance, when the defendant seeks 
 to avoid liability on the ground of intemperate habits or habitual 
 intoxication, it shall be sufficient reply for the plaintiff to show that 
 the habits of the assured were generally known in the^community 
 
IOWA. 
 
 41 
 
 e risk, and 
 It rendered 
 3Ct, his said 
 ' judgment 
 Uy void in 
 jured may, 
 iranco com- 
 )r contract, 
 evived, and 
 it is made 
 s; and pro- 
 iation sliall 
 same, from 
 1 bo in full 
 lolloction is 
 loss occurs, 
 ntracts and 
 ling in the 
 
 State shall 
 in stocks or 
 lero located, 
 ed on bond 
 
 double the 
 y is located. 
 Utor, Comp- 
 
 company is 
 I with a cer- 
 olding such 
 lenefit of all 
 
 such securi- 
 sand dollars, 
 iay of April 
 ipany on the 
 
 lean Experi- 
 alf per cent. 
 1 Experience 
 um. 
 
 T the proper 
 the Auditor 
 dence of the 
 jence of such 
 mpany doing 
 ) as he shall 
 
 endant seeks 
 
 or habitual 
 
 to show that 
 
 (^community 
 
 where the jigcnt of the defendant resided or did Ijusincss, if the com- 
 pany continued to receive premiums after such knowledge. 
 
 A certificate of health from the medical examiner of a life insur- 
 ance company, or the physician acting as such, whi(!h declares the 
 applicant a fit subject for insurance, under the rules of such company, 
 shall estop the company from setting up as defense, in suit on such 
 policy, that the assured was not in the condition of health required 
 by the policy at the time of issuing the same, except when such cer- 
 tificate is procured by fraud or deceit. 
 
 Fecfi, — For filing certified copy of charter, twenty-five dollars. 
 
 For filing annual statement, twenty dollars. 
 
 B'or each certificate of authority and certified copy thereof, two 
 dollars. 
 
 F'or every copy of any paper filed in the department, the sum of 
 twenty cents per folio, and for aflixing th.e official seal to such copy 
 and certifying the same, one dollar. 
 
 For valuing policiud of life insurance companies, ten dollars per 
 million of insurance, or for any fraction thereof. 
 
 For official examinations of companies, the actual expense in- 
 curred. 
 
 Reciprocal provision in reference to fees. 
 
 Tmres, — Every company, at the time of filing annual statement, 
 shall pay into the State treasury a tax of two and one-half per cent, 
 upon the gross amount of premiums rec6iv(;d in this State during the 
 preceding year, taking duplicate receipts therefor, one of which shall 
 be filed with the Auditor, Such tax shall be in full for all State and 
 local taxes. 
 
 Penalties. — Any person or officer doing business for any fire 
 or marine company without complying with the requirements of law, 
 or violating any of the provisions of law relating to insurance, 
 shall be fined in a sum not exceeding one thousand dollars, and be 
 imprisoned in the county jail for a period not less than thirty days, nor 
 more than six months. Every life insurance company failing to file 
 annual statements, and procure certificate of authority, as required by 
 law, shall forfeit one hundred dollars for every day's neglect ; and 
 any of its agents making insurance, or soliciting applications, shall for- 
 feit three hundred dollars ; and any person acting for any such com- 
 pany, without having a certificate of authority, shall forfeit twenty- 
 five dollars for each day's neglect to procure such certificate. 
 
 ASSESSMKNT INSURANCE. 
 
 Admission. — Before admission each corporation shall file 
 with the Auditor of State a copy of its charter or articles of incor- 
 poration duly certified by the proper officers of the State wherein 
 organized, together with a copy of its by-laws, application, and policy 
 or certificate of membership. It shall also file with said Auditor a 
 sworn statement signed and verified by its president and secretary, 
 which statement shall contain the name and location of the said corpo- 
 ration or association, its principal place of business, the name of its 
 6 
 
42 
 
 IOWA. 
 
 % 
 
 I' 
 
 nresidont secreUry. and othor principal officers, the number of cortifi- 
 K or Hici- in f«^<=«' '»^« ag«rogate amount -«»;«;^/ l^^^y-^^"^;, 
 amount paid to benof.ciarieB in event of ^^^''^'V^l^d l^ iserfo^ 
 collected of each member on each a«B088ment, and tho purposes tor 
 wS a8HesB„.ent8 are made and the authority ""•^^'[.^^hich they arc 
 made- the amount paid on the last death loss and the date thereol, 
 t"o araomroT cash or other assets owned by the company and a«Roci. 
 ItranS how invested; and any information wbich the AudUor may 
 reuuire Ml said statements and papers thus filed shall show that 
 Tath or surrender value of certificate of insurance or a^ctde^^^^^^^^^^^^ 
 nrty is in the main provided for by assessments upon or con^"^^^^^^^^^^ 
 snrvivinK members of such corporation or association, and shall snow 
 oZsaiSonof said Audior that sa.d =070-^-"^^^^ 
 i-s leffallv oreanized and honestly managed, and that an ord nary assess 
 mru^nTs members or oth/r regular -ntr bution to ^s mortua^^y 
 fund, insufficient to pay its maximum certificate to the Jul h""' 
 named therein. Such foreign corporation or association shall also 
 SSnatl to the said Auditor an attorney or agent residing in th 
 SUtf on whom service of process or original notice may be made; and 
 1? the evIntTf a failure lo appoint or designate such attorney, such 
 seriice may be made upon the Auditor, who shall at once notify said 
 oomnanv bv mailing a copy of said notice to the secretary of said cor- 
 3Sf or^rJc atlon. directed to his last known post-office address 
 
 'An" So" cTm'enced in this State by --;«« ^PT^^^'s e^^^^^ 
 Auditor may be commenced in the county of the plaintiff s residence, 
 r^egaXsT:? the residence of. said attorney or Auditoj. and every co. 
 poration or association coming into this State « 'f " ^^.^ J^, anv 
 Auditor of State a contract or agreement that it ^^^ "« ^ J°/^X J 
 action commenced against it in any court of this State to the Uni ed 
 ^tlrs coX which contract shall contain the provision that if such 
 fransferrmadrto the United States courts, the certificate of authority 
 
 Lued by S Auditor to do business shall be revoked or canceled, 
 Zit shall be the duty of the Auditor to P^o^P^^y '^^^^J^ ^^.^.^^^ 
 cate of such corporation or association as soon as such transferis 
 made and such corporation or association shall not be permitted to do 
 tosTagaTn wS the State. Upon complying with the provisions 
 or E s sS^n, and upon payment of twenty-five JoU^' and Au^^^^^ 
 Rhall issue to such foreign corporation or association so complying, a 
 Sficate of authority tS do business in this State, provided the same 
 
 rSht rextended by L State in which said corporation - orgamzed, 
 
 to simUar corporations or associations organized in this c tate. 
 
 A »^^.n1 VtntPttipntS. — A detailed statement shall be made 
 
 ann;irbSore1hf firm's d^Iy of March, on blanks furnished by the 
 
 ludTtor. S the condition of' each corpon^tion on the thirty-first day 
 
 of December preceding. 
 
 Examinations. -AMditoT has power to visit and examine 
 
 companies. 
 
 Certificates and ^gen**- Companies and agents must 
 
 have Auditor's certificate before doing biwmegs. 
 
r of C6rtifi« 
 lereby, the 
 the amount 
 irposos for 
 ih they are 
 \te thereof; 
 and a«Roci- 
 uditor may 
 show that 
 lent indem- 
 •ibutions by 
 shall show 
 association 
 nary assess- 
 s mortuary 
 5 full limit 
 1 shall also 
 ing in this 
 5 made ; and 
 ;orney, such 
 notify said 
 of said cor- 
 See address, 
 attorney or 
 's residence, 
 d every cor- 
 ,e with the 
 transfer any 
 the United 
 that if such 
 of authority 
 or canceled, 
 :e the certifi- 
 I transfer is 
 mitted to do 
 le provisions 
 and Auditor 
 jomplying, a 
 led the same 
 is organized, 
 tate. 
 
 hall be made 
 ished by the 
 irty-first day 
 
 &nd examine 
 
 agents must 
 
 KANSAS. 
 
 4i 
 
 Fees. — For filing charter and other papers, twenty-five dollars. 
 For annual statement, twenty dollars. 
 
 For examinations, five dollars a day and actual traveling and hotel 
 expenses. 
 
 For agent's cortiflcate, two dollars. 
 
 All other fees the same as provided for life companies. 
 
 P«W«i<f<?«— Taking or soliciting applications for unauthorized 
 companies is a misdemeanor, and subjects offenders to a find not ex- 
 ceeding one hundred dollars and costs. 
 
 Compliance with the act by secret or fraternal organizations is not 
 compulsory. 
 
 KANSAS. 
 
 [Legltlatare meeU bl«nnUllr. Naztieulon, Jannary, IMl] 
 D. W. Wilder, Superintendent of Insurance, Topkka. 
 
 AtlmiHston. — Every company desiring to transact business in 
 this State before admission shall file with the Superintendent of 
 Insurance — 
 
 A certified copy of its charter or act of incor|)oration. 
 
 A copy of the last annual report, if any was made under any law 
 of the State and country by which such company was incorporated. 
 
 A statement under the oath of the president or vice-president 
 and secretary of such company, showing the capital, location, and 
 condition of such company. In case of life companies, the sUtemont 
 shall show the condition of the company on the preceding first day of 
 January. 
 
 Every company shall file in the Insurance Department its written 
 consent, irrevocable, that actions may be commenced against the com- 
 pany in any county in the State in which the cause of action shall 
 arise or the plaintiff shall reside, and process served on the Superin- 
 tendent of Insurance, and agreeing that such service sjhall be as bind- 
 ing as if made upon the proper officer of su( h company. Such written 
 consent must be executed by the president and secretary of the com. 
 pany, authenticated by the seal of the company, and accompanied by 
 a certified copy of a vote or resolution of the board of directors 
 authorizing thu president and secretary to execute the same. The 
 summons m any process against any such company shall be addressed 
 to the Superintendent of Insurance, and require the defendant to 
 answer by a certain day, not less than forty days from its date. The 
 summons shall be forwarded by the clerk of the court to the Superin- 
 tendent, who shall immediately forward copies thereof to the com- 
 pany, and to its general agent, if such agent reside in this State. 
 
 Certificates and Affents.— T&v&ry company, before trans- 
 acting business, roust procure from the Superintendent a certificate of 
 authority. 
 
 Every company shall certify to the Superintendent the names of 
 the agents appointed to act for the company, and such agents shall 
 
44 
 
 KANSAS. 
 
 recoive a licenHO from the '•*■'■ '- .♦^ »dent. Any company may appoint 
 a general agent ill this Bt-V ' vutliority to appoint other agents. 
 A certified copy of such apv ' uent shall bo fiioil with the Supenn- 
 tendont. All cortiflcattm ana licHnst's shail bo ronowod annually, and 
 •hall continue in force until the last day of February in each year. 
 
 ■ ICininluntlonH ami /i/*/>f///'mri*^N.— Whonovor the 
 
 Buporintondisnt has good roaaon to auspecl the corrcctni-Hs of any annual 
 «tatomont inadt! by any company, or that any such company is in an 
 unsound condition, ho shall make or causo to bo made an examination 
 into the alTairs of such company. Whenever the Superintendent 
 shall deem it for the interest i»f tiie pu1)lic, ho shall publish the result 
 tf such examination in some newspaper of general circulation printed 
 at Topoka. If it shall appear from such examination or otherwise 
 that the affairs of any company are m an unsound condition, he shall 
 revoke the authority granted to such company to do business in this 
 State, and cause notice thereof to bo published in at least one news- 
 paper published in the city of Topeka. 
 
 No lire or marine company can transact business in this State, if 
 its capital stock, after the company is charged with its proper liabili- 
 ties, is impaired more than twenty per cent. 
 
 No life company can transact business in this Stale if its assets, 
 after being charged with all proper liabilities, are not equal to its 
 premium reserve ascertained as required by law. 
 
 l^h'e and Marine. — Every company must possess a paid-up 
 capital of one liundred thousand dollars. 
 
 Annual statements must be filed on or before the first day of 
 March in each year, showing the condition of the company on the pre- 
 ceding thirty-first day of December. A synopsis of such annual state- 
 ment shall be published in each county where the company has an 
 agent, showing the assets and liabilities of the company, within sixty 
 days after filing such statement. 
 
 The re-insurance fund is computed at forty per cent, of the amount 
 received for premiums upon unexpired risks. 
 
 No fire risk is permitted to bo written on property located in Kan- 
 sas except by licensed resident agents. Violation of this law subjects 
 the company to a revocation of its license for one year. 
 
 Jjife, — Every company must possess at least one hundred thou- 
 sand dollars invested in the' bonds of the United States, or this State, 
 or of the State by which it is incorporated, or loaned on notes or 
 bonds secured by mortgage of unencumbered real estate worth double 
 the amount loaned. Securities to the amount of one hundred thou- 
 sand dollars shall be deposited with the propei official of the State 
 under whose laws the company is incorporated, for the security of the 
 policy-holders of the company. A certificate under the hand and 
 official seal of the officer with whom such deposit is made, showing 
 the character of the securities deposited with him, that he holds the 
 same in trust for the benefit of the policy-liolders of the company, 
 and that he is satisfied they are worth one hundred thousand dollars, 
 shall be filed with the Superintendent. Annual statements shall be 
 
KANSAS. 
 
 4» 
 
 ly appoint 
 )r agents. 
 I Supenn- 
 ually, and 
 year. 
 
 lovor the 
 my annual 
 ly 18 in an 
 aramation 
 rintendent 
 the result 
 )n printed 
 
 otherwise 
 1, ho shall 
 !93 in this 
 
 one news- 
 is State, if 
 pur liabili- 
 
 itH assets, 
 ;]ual to its 
 
 i a paid-up 
 
 rst day of 
 on tlie pre- 
 inual state- 
 my has an 
 ith'in sixty 
 
 ;he amount 
 
 :ed in Kan- 
 aw subjects 
 
 idred thou- 
 ■ this State, 
 in notes or 
 orth double 
 id red thou- 
 f the State 
 irity of the 
 band and 
 le, showing 
 i holds the 
 e company, 
 and dollars, 
 its shall be 
 
 filed on the first day of January in each year, or within sixty days 
 theroafcor, showing the condition of the company on tlia preceding 
 thirty 11 rst day of Decoinbor. A synopsis of such annual statement 
 shall bo published in each county where the company has an agent, 
 showing the asHota and liabilities of tin' company, within sixty days 
 after liling such statement. Valuations are made upon the Americair 
 Experience Table of Mortality, with interest at four and one-half per 
 cent, piir annum. The Superuitondent siuill once in three years value 
 the policies of all companies trunsacting l»u.Hine8s in this State, if the 
 same are not valued \uu\w the jirovisions of the laws of some other 
 State, upon any Ua^k which will not retpiire a premium reserve less 
 than that provided by the basis of valuation established by tho laws of 
 this Stale. If a certificate of such valuation in any other State shall 
 be furnished tho Sujwrintendont, no valuation shall be made in this 
 State. 
 
 Forelffn.— Every company must have invested in tho stocks of 
 the United States or some one or more of tho States two hundred 
 thousand dollars, and such stocks must bo held by citizens of the 
 United States. 
 
 Life companies must deposit with tho Treasurer of this State one 
 hundred thousand dollars in bonds or securities for the benefit of the 
 policy-holders of any sucli company, citizens, or residtmts of tho 
 LFiiited States, or furnish the Superintondiint with a certificate from 
 tho proper ofBcial of some other State showing that a deposit of like 
 character and amount has boon made with him for the security of the 
 policy-holders of such company in the United States. 
 
 Annual statement> ^liail bo filed on the first day of January in 
 each year, or within hiXty days thereafter, showing the condition of 
 the company on the preceding thirtieth day of June, and shall be 
 accompanied by a supplementary annual statement showing the condi- 
 tion of tho company in the United States on tho preceding thirty-first 
 day of December. A synopsis of such annual statement shall be pub- 
 lished in each county where the company lias an agent, showing the 
 asst ts and liabilities of the company, within sixty days after filing such 
 statement. 
 
 JPees.— For filing charter, fifty-five dollars. 
 
 For filing annual statement, fifty dollars. 
 
 For each license to agents, two dollars. 
 
 For every copy of a paper filed in this office, twenty cents per folio. 
 
 For affixing the seal of office and certifying any paper, ono dollar. 
 
 For valuation of life policies, one cent for every one thousand dol- 
 lars of insurance valued. 
 
 For examinations, the actual expenses incurred. If the expenses 
 of the department exceed the fees collected, such excess shall be 
 assessed equally upon all companies doing business in the State, and 
 paid into the Treasury. 
 
 Each company must, in addition to the above fees, pay into the 
 State Treasury for the benefit of the annual school fund the sum of 
 fifty dollars each year. Reciprocal provision where other and greater 
 fees are charged in other States. 
 
MbM^aba 
 
 46 
 
 KANSAS. 
 
 TnjrflH.— Foroiffn companies aro required to pay a tax of two p«r 
 cent Annually on or lM,foro th. (Irst day of March on -H prommmH 
 roooived in ibis Stato for the y«ar ondinK on tho prowHl.Pg tinrtyftnit 
 day of Doconi»)or. Keciprocal provimon in roforenco to taxes upon 
 other companies. 
 
 p^„«i#ip«__Kvcry company transacting bum nosH in this State 
 without complying with tho proviHu.ns of law. and overy agent acting 
 for any company without procuring a liccnue. shall bo subject to a 
 penalty of five hundred dollars Kvery v.ohitiou of any prov.mon of 
 law relating to insurance ahall subject the person gudty of such viola- 
 tion to a penalty of wot loss than one hundred dollars nor more than 
 Ave hundrea dollars fi)r each offense. , , j ■ i j 
 
 Combinations to control rates of insurance are declared void and 
 agents or corporations entering into them are subject to a Hne of one 
 thouBe.nd dolbrs. 
 
 >if/m<«/«/ow.- Company must file with the Superintendent of 
 Insurance a certified copy of' its charter, by laws, appl.cat.on, and 
 certificate of membership; a certificate of the proper officer in its 
 own State that it has complied with the law ; a l>ond w.th sufficient 
 sureties in tho sum of fifty thousand dollars, for the honest and faith- 
 u management by the officer of tho company's affairs ; a staUjmont 
 under oath of its chief officers or manager and secretary of all the 
 ?jlran5 items required in the annual sUtemont, -d that it has pau 
 and has the ability to pay its certificates to tho full limit ; and its 
 wHtten consent irrevocable, that service of process may be made upon 
 thfi Siioerintendent of Insurance. . „. . ,i • 
 
 There shall be set aside and deposited with tho Treasurer of this 
 State by every assessment association doing bmnnoss in this State, not 
 ferthan ten per cent, from each ass^sment made for tho payment 
 of death claims. The net interest accruing upon such reserve shall be 
 p aSed to the credit of the mortuary fund, and become a part thereof^ 
 When the death rate of said association shal be in excess of the 
 American experience mortality table, or a sem. annua ratio thereo 
 thrand in that event the association may draw on such reserve fund 
 to pay such excess. When such reserve shall have accumulated in 
 excess of one per centum of the insurance in force in such association, 
 such excess may, by the order of the board of directors or trustees 
 JSereof l2 distrLted by the Treasurer of State to the members of 
 Rftid association, for the payment of assessments. 
 
 ThesTdSs aretoli made with tho Treasurer quarterly, and 
 „,ust be inve^sted in United States bonds, Kansas Statejjid Schoo 
 Lnda bonds of a county, township, or municipal corporation in this 
 State Sd Tn conformity with law, or bonds and mortgages on 
 SumTered real estate within this State worth fifty per cent, more 
 thftn the sum loaned thereon, exclusive of buildings. 
 
 The deposit provisions do not apply to companies, assocmtions, or 
 corporatio^having a paid-up cash capital of at. least one hundred thou- 
 sand dollars. 
 
KENTUCKY. 
 
 4T 
 
 of two p«r 
 
 pr«mium« 
 
 thirty-first 
 
 axo8 upon 
 
 tins atato 
 ia;ent acting 
 ihjoct to A 
 roviflion of 
 8uch viola- 
 ' more than 
 
 d void, and 
 fine of one 
 
 Annunf StntftnrntM.— '\i^nni\ . .iHimontB mtist ho filed, on 
 blanlcH furniHhod by tho Hiiporintondoiit, on tho first day of January or 
 within sixty days thereafter. 
 
 LtmiHim, — Licons«« expire oti the hwt <iay of February. 
 
 JEjratntinifioilM.— Ti^o Superintendent haa authority u> exam- 
 ine conipunieM and revoke cortifldateii. 
 
 Feet*. — An annual licenno of one hundred dollarM, or /»r« rata 
 from the date of certiflcato to th«' laBt day of February following, but 
 In no oaHe loan than twenty-five dollarR. 
 
 Kor filing certificate, copy of charter, anri other preliminary papers 
 and for filing annual Htatement, ton doUarH. 
 
 Kor certificate of authority annually, five dollars. 
 
 Kor each agent liceuBcd annually, two dollaru. 
 
 itendent of 
 cation, and 
 fUcor in its 
 Ih sufficient 
 It and faith- 
 a statement 
 y of all the 
 , it has paid 
 flit ; an<i its 
 3 made upon 
 
 urer of this 
 lis State, not 
 ,ho payment 
 arve shall be 
 part thereof, 
 ccess of the 
 atio thereof, 
 reserve fund 
 iumulated in 
 I association, 
 B or truBtees 
 members of 
 
 uarterly, and 
 and School 
 ation in this 
 lortgages on 
 ar cent, more 
 
 isociations, or 
 lundred thou- 
 
 KENTUCKY, 
 
 I LcgiiUtura meeU blennltlljr. Next mphIod , Dfcambcr ao, IHW. | 
 Henry K. Duncan, fnsurance Commissioner, Frankfort. 
 
 AdmiHHfon. — Every company desiring to transact business in 
 this State before admission must file with the (Jomniissioi.iir — 
 
 A certified copy of its charter, articles of incorporation or deed of 
 settlement. 
 
 A statement under the oath of its president, or vice-president and 
 secretary, showing the condition of the company, which may be a copy 
 of the last annual report, if any, made under any law of the State 
 by which such company was incorporated. 
 
 A written instrument or power of attornev, duly signed and sealed, 
 authorizing any agent of the company to acknowledge service of pro- 
 cess for and in behalf of the company, and consenting that service of 
 process upon any such agent shall be as valid and binding as if served 
 on the company. 
 
 If any such company shall, without the consent of tho other par- 
 ties to any suit or proceeding against it in any court of this State, 
 remove such suit or proceeding into any Federal court, or if such com- 
 pany shall hereafter institute any suit or proceeding against any citizen 
 of this State in any Federal court, it shall be the duty of the Auditor 
 forthwith to revoke all authority to such company or its agents to do 
 business in this State, and to publish such revocation in some news- 
 paper published in this State. 
 
 Certificates and Agents.— '^^e> Auditor, upon receiving a 
 certificate from the Insurance Commissioner, showing that any com- 
 pany has fully complied with tho requirements of law, and is possessed 
 of the requisite capital or assets, shall furnish to such agents as the 
 company directs a copy of the certificate of the Commissioner, together 
 with a license to such agents to transact business for such company. 
 
4t 
 
 KKNTITCKY. 
 
 Tho eertiflraut of the Ct)mrai*»i»n«r to th« Au<litor and copion of inch 
 rprlillcBto. t<)«.Hhor with thn lict.UMWi to mmlt, nhull Im» r«nownrl 
 
 kniumlly. . , , ,, . , . ,i 
 
 Evory RKi-nt, iit all wlv.Ttisomoiitii of hi* ft«om'y, Hhall f.uhlmh Mm 
 locution of Ih.. <-om|.any h.- r..i)roHontH, Kivii.K tho namo of tho city, 
 town, or villiiKo in which it in lociU.'.l. and tlio Hlat«< or novornin.mt 
 untlcr tho UwH of which il in otKiinizrxl. 
 
 AgcntH may ho lic> -iSod to plwo iiiHuranai in unaulhoriwMl coin|«- 
 nioH iukLt cor'tain cinMim»tanro«, hut ii!ilc«« done under Huch hct>n«o 
 such iniiirance is null and void. 
 
 liV«m/«</f/oiiN <»/Kf fm/m//-mf «N.-ThoCommiM|oner, 
 whonovor ho tU^oiiiH it iiocoHHaiy, may .-xairiino into th<^ atlHir« and con- 
 dition of any company doing bimmoHK in thia Slate. W hmuwer li 
 rthall api>«Rr to tho HiitiHfaction of tho Cominiftaioncr that the aflairn of 
 any HU«-h company aro in an unwund condition, or not coriforma»»l« to 
 any Htamlani a<loi>t«tl hy thin Stato, or if any ci>tni)ftny »httU refuie to 
 iHirmit an oxarninalion, Jlio Auditor, at the re<ju«st of CotiimiKmonor, 
 ahall revoke all certiflcatofl granted in behalf of «ach company, and 
 shall cause notieo of HUch rjvocAtion to bo published i» Bomo one or 
 more new8pa[xirfl of general circulation puhlialiod in the State, and a 
 copy thereof mailed to oacli agiint of such company licensed by tho 
 
 Auditor. , . ., . «, , j. 
 
 No fire or marine company can transact bumnrss in this »tftte u, 
 after the company iu ehariced with its proper liabilities and the amount 
 required by law for a reinsurance fund, its capital i«» impaired to the 
 extent of twenty por cent., unless such impairment ahall bo made good 
 within sixty days. Nf» credit is givcui for ro-insurancfs in unauthorized 
 companicB, and schedulea of re-inBurancoa are required. 
 
 No life company c*u i-ransact bueinijss in this Slate if its assets are 
 not of a net ca.'^h value equal to it« liabilities, including the premium 
 reserve computed as ri-quirtsd by law. 
 
 rirc: ft tiff Marine, — Every company must possess a paid-up 
 cosh cu'pital of not leas than one hundred and (Uty thousand ilollarH. 
 
 Annual siatonionts shall be flled on tho lOth day of January in 
 each year, or within one month thereafter, and shall show the condi- 
 tion of tho company on the preceding 3lBt of December. 
 
 Tho Commissiono.'- may, for good cause shown, extend the time for 
 filing annual statements. 
 
 Tho rc-insuranco fund is computed at fifty per cent, of tho gross 
 premiums received and receivable upon all unexpired risks. 
 
 fjife,— Every company must possess well-invested assets to the 
 amount of one hundred thousand dollars. 
 
 Every company must file with the Commissioner the certificate of 
 the Superintendent, Insurance Commissioner, or chief financial oScer 
 of some other State, under his hand and official seal, that he holds on 
 deposit for tho benefit of all policy-holders of such company stocks 
 and securities to the amount of one hundred thousand dollars, stating 
 the character of such securities. 
 
 Annual statements must be filed on the lOth day of January, or 
 
)io« of Hiich 
 H* runoWHil 
 
 |iul)liHh ihfl 
 r.f tlio city, 
 ^DVorniiumt 
 
 iKtHl coin()a- 
 
 rnitilMiinnnr, 
 iiM nn<\ con- 
 VlmnoviT it, 
 lie ufTairtt uf 
 furinahlfl to 
 ill refuse to 
 TiimiKnioiiPr, 
 inpiiny, ftnd 
 jom»J one or 
 >;tate, and a 
 naetl by thv» 
 
 hii Statp il, 
 the amount 
 taired to the 
 1) made good 
 luauthorized 
 
 its ftBstita aro 
 ho preraium 
 
 ]M a paid-up 
 id elollarH. 
 [ January in 
 w the condi- 
 
 the timo for 
 
 of tho gross 
 
 »s80t8 to the 
 
 certificate of 
 ancial ofScer 
 b he holds on 
 ipany stocks 
 )llar8, suting 
 
 : January, or 
 
 KKNTIJCKY. 41 
 
 within <ixty day** thnrnuft^u-, ilmwiiig tli.> nondltion of tho('oin|Hkny on 
 tho j>rejf«Mling ;tUl dtty of Uin-Hnlntr. 
 
 Tht) ImaiiN of vuluatton in tht« >Stntt3 in ttio Ainiirican Kx|i<iri)<nr<« 
 Tahlo of Mortality, with intnroat at four ami oiio-half iM«r cont. \wir 
 annum. 
 
 Tho t'oriitiiUHiDnin- ih ri<i{uirvU to vnhitt tlio outataiuling poiici<>it of 
 all cuiii}iHiii«$N duiiig bumiiMMi in tliU Htatu atinuully, if mucIi cuinpiiiiy 
 i» not iiu;i)r}»ortttod in a Stat« whont llit»at m a ngulariy organ i/.i'd 
 InHuruiico i<ur«au or L)<*partiuunt. In mwh ca»««, if th« coinpnny Hliall 
 funiiah a CMrttl:cutH of ihit Intiiiani'i* ('ommiitiiiunur tr Hu|)«rint«>ndt<nt 
 in duo form uiKJor Mcai. nutting forth tliti <<xiiiting valiK* of all itM out- 
 fltandiiig policM.'i, HUcli I'urtitlcatL* Htiail hn H(%t<iiCi'd by llu* CoiiitniM- 
 Hionor, and no valiialion of tho [(oiiclvH of hucii c'liiipanitm Hiiall ho 
 niadtt by him. Huch ccrtilicato in not reijuirod to hIiow a valuation 
 inado vifH>n any pariiniiar ba«iH, providf'd tho vaiuna aro not \vha than 
 thos«> on the banig udoptud by tho Stat". 
 
 Kv»>ry company muHt annually (il« witli ihn<Joinniin»iiont>rn d»'Hcri|)- 
 tivi.f list of all pvdiuiiiii in forco, iiiui a Iiko liHtof all policicM wliich liavu 
 r«rminated, with thu nsudf und tnannur of tortuinution and ihu amount 
 paid iu each cotio. 
 
 MlavvllittH'on^, — No company doing a flro and marine busi- 
 worn ran do ticcidoiit, plato-glann, live stui^k, Hluain ixtilcr, gnnraiity or 
 other businuHs, and nu conipany organi/.od for tho latter can do a liro 
 and marine buHiuoHM, imr niiTu than orio of tlio otln'r cliiMMfs, without 
 ilepositing ong hundred timufaiul dolliirj with tho [uojior olBcor of the 
 Htato witurc organi/.fMi, and lifty thousand additional for each kind 
 of businoss trauHacted. 
 
 /"'o^'r/f/H*— Kvery conpany doing a fire or marino businnBn 
 siiall file with tho (JoimniHHioinr tho cortilicate of tho Auditor, I'orop- 
 trolkir, or chii-f linancial ollijer of aotno otliur State of tlin (Fnitnd 
 StaiuH, iHuiur \m liand and otiicial si'al, showing tliat hUch ofliccr IioMh 
 on <ie|«j8it >Mid in fruHt for tht btMioIlt of alt the [(olicy-hold.frs of such 
 company iu the United Slates securities to tiie amount of two liiindred 
 tliouHand dollars. 
 
 In cane no such deposit is made in any otb.or State, such depopit 
 ir.'iy be made with tho Auditor of tijis State. 
 
 Feet*. — 
 
 For hconso to oacli agent of a fire company, iUo dollars. 
 
 For license to each agent of a Hfe company, ten dollars. 
 
 For original deposit of securities, ten dollars. 
 
 For filing certified copy of charter or deed of settlement, forty 
 dollars. 
 
 For filing annual statement of condition, forty dollara. 
 
 For filing any additional or supplemental statement, twenty-five 
 dollars. 
 
 For seal of ofhce with certificate, one dollar. 
 
 For copies of any papers on file, twenty cents j)er folio. 
 
 For cost of making valuations, not to exceed tiiree cents for every 
 7 
 
50 KKNTITCKT. 
 
 tUu,w«!u! d..!l»r. of ttmunine. y»lu«.l. '^\\'*'^'''"^S!r!!!^mluS 
 
 uMh coni|«i.y .loin« I.um.iom .» llii- Sl»U., to provLI.. for ».iy .lutW-i.iuy 
 In the ox|i«hiMi« of lh«i Inirenu. 
 
 HacipnH'al proviitioii. 
 
 Tti ft-M — Kvfry llr« or iimriiio coinimiiy <*\m\1 on Mim iMt «Uy» of 
 
 th« total ttinounl of all pr-MuiurnH r.«>...vo.l w.tl.u. ihi. «\«t« "f^^ "^^^^^^ 
 month. i.r.KH«linK. .n.l .hall ui il..> -unH. ..n... |my u.tu ...» ^ruam rv 
 T- ritntl a tax of two .lolUr- un-l liuy cont» up-n ......h on.. hun.ln«l 
 
 dollarn of Huch prtuiiiutnii. , ..,.„„, 
 
 •rh« Stalo alo„t or .«ana««r of ovory llf« i-om,«ny. an.i who . Ih 
 1. no StatM UK""' "'• ""»'"ig.'r, th.n. a H|..'aal a«n»t appointwl for th. 
 puruone. «hall on th« (in.1 .lay- of .la.n.ary ami ,luly u. mch ymr or 
 w"t,« thirty .iay« ih.Toaft.r. r.-mrn to th. Au.l.K.r a .ornx-t Htat«^ 
 nun un.ior oath of all prunuunm r..c.,lv..d or r.v.Mvahh, ».y any of tlu, 
 ai'tH o Iho co.npany i,. th.n S.ut... and .h. .unount of u..urauco 
 tLte-l for tho Kii M.onth. on.i.n« on th. Ian. dayn of thn P | •- "K 
 Jun« or i)«c«.nbor. or »inc« iho lant, roturn was ina-lo, ^'V.-ry f. on ■ 
 r«ny -I'all, «•>' "r h,.fon. th. lirnt Mon.layH of l-Vbruary ami An« . n 
 S yoar pay into tho Stato tr.,aHury a tax of two lioHarH an,l (if y 
 c.^.t.^;,^n o«ch ono hundred .lollar. net promiunm r.oo.v«d m cmU. 
 
 l*,'nnHh-H — Kvory tLumi of an iimurunco company tranHacting 
 buaimiH witlumt a li.-.u. ^Hhall U. .ubj.ct to a ju-nalty not ..xc<.<|du^ 
 fifty dollars for uaoh ofToniw. with imprmonnumt if not paul or 
 
 *"*'' Evm aKent doing husinoHH for any .company aflor tho r.^v.Kalio,. 
 of itM authority Hhall l>« suhjoct to a penalty not oxcoedinn om. hundred 
 
 ''"""Any li^> con.p'iny .loin^ hUHinoss in thin Statn and n««hH,ting to 
 mako rutnrn m roquirnd by law. shall forf.dt t..n dollarH for ..u-,h day « 
 
 ""^^Kvtry lire or mar.nn c<.mpany negh-ctinn tor thirty .lays to inakt. 
 n.turn of prom.un.s hm.1 pay tax.-suH r*..ii.ir..d by law, fihall forf.-it and 
 nav on« thousand dollaiH. i , .„ 
 
 ' Evorv agent of a lifo company roqumni to mako r«tnrn and pay 
 Uxandn..gU.c.ing to do .o w.thin th. timo prcHcriUul «'y<^w. Hhall 
 Srfoit tw.nty live d..llar«. If nuch agent negkH-tH ^-J tun day aft.r 
 notice from the fomnuKsioner I., pay hucI. tux, ho shall forfeit five 
 
 ^"°AntnKnmnc« con.pany of another State or country appealing from 
 a judgment, shall be subject to a penalty of ten ^r cent, of the 
 amount of the judgment. 
 
 ABBKBSMKNT INSUKANCR. 
 
 AftinlMHlon. — An aBsesBniont company applying for admiBsion 
 musf file ;^u( the Insurance Comnussioner a certified copy of Us 
 charter or articles of H.corporation, a copy of its sUtement othmrn^^ 
 for the year ending tho .list da> of the next precinhng Decemtjer, 
 
r.<»triHiANA. 
 
 11 
 
 ■M of the 
 
 Hint ii|H)ii 
 
 It iUy» of 
 1 Aiuluor 
 or iIm^ •ix 
 ■uMiiry of 
 It buiKirixl 
 
 ^lion thuro 
 •hI fur th»' 
 ill y«mr, or 
 ■ri'Ct Mtati) 
 titiy of lli« 
 iuMUi'aucti 
 proftuUng 
 y lift! com- 
 An^iiHt in 
 t tu\<\ llfty 
 ml 111 ciihIi. 
 
 TanHantiiiK 
 
 <>xc<><t(iiiig 
 
 )t paiil or 
 
 rnv(K"ftlioii 
 iku hundred 
 
 j^locting to 
 nach diiy'rt 
 
 yd to m»ka 
 1 forfi'it and 
 
 rn and pftv 
 
 •y law, aliall 
 
 I days aftor 
 
 forfeit five 
 
 ii'aling from 
 3ent. of the 
 
 ar admisBion 
 
 copy of its 
 
 t of buHincBB 
 
 J Ueccuiljer, 
 
 iwiim In hy lh« proMitltMit aii<l iw'cnaiirv or likn tilllcnrM thuniof, Mttintf 
 forth tlu> miiiilMT ntiil lunouni of cttrtitlralrs of rnt>m)N*n4hip or |»olici«tii 
 tn fon-o, mid a d<'inilt'd an'oiuil of u* «i)i|«>iii|iKin'ii, iiii'oiiu', auMiiii, and 
 hahihtiuM, tnd kIho a c«rtilii-at«i nworn to l>y th<i prtmnh-nt and Mtioiittary, 
 or hki»o(!l<'oi's tht-n'of, iti'ttitiK forfli that It ha« pi.id ami hun (hf ahillty 
 to pay It* I'crtilinilti or |h»Ii.ii'« to ihn iull limit iiaiin'd lhi»rfiii; that itM 
 ti<rMli<'atfM i>r policjcii arx payaliln only to liiMiflliMariiii' having a h<gal 
 ini»urahli« intorewt in tint lift- of iho nu'inlM-r or innturt-d; that an ordl 
 lury anNOMini'nt ii|M>n ita nimnliorit ih «tiini(*i»nt (o |>ay it* nnixiinuni 
 cortiflcatt) of iiniiiilM'r»«hip or fxilicy ihon-tofori' iHi«mt<i. if any, or ihoro- 
 afli-r to Im» JMMiM'd to rf<id««ntH of thi< !^tnt«, to iho full aiiioimt or limit 
 naiiiod thorniii; a riTtillfHto from thi- lii«uiaiii'ii ('ommiH«ion«r, or 
 othor likt' olllcor rhargod with thi'duty of I'xocuting or mfon-itig th«' 
 OXfitiulion of thf inauraiK!.' lawit of ilM hoiii" Stato, corlifying that it ii 
 legally ontitlt'd to do huMincMM in itx hoiim Statu; a oopy of tint appiiua- 
 tion for mitmhftHhip or iiiHiiraiirt', rtnd of i>ufh form tln-n'of, if mora 
 than onn form in iim-d; a oopy of the form of (•<»rfitl<att' of mitinlxT 
 ship or jM»licy, and twh form tln»ii>of, if moio than one form in iimtd ; 
 » oopy «»f thn constitution and hy-lawn and of oach and («v<ry •'diti<jn 
 thi'Mof. which miwf hIiow that all indt-innitii-H to h(«ii«(liMaric« aro in 
 tini main providi-il for liy iismwumt'iitM ii|>on all ^-urviving momlKim. 
 
 It inuHl aino nil 1 powor of attorney authorizing /ir.y and ovory 
 •gont to accept Kcrvico of pro»»'iw, and aUo an attorney for tim HtaUi 
 who in a ronidonr, thuroof, Ucinoval of, or coiniiu-niing, HuitH to 
 United States TourtR forfeits right to dohuHincsH in tho Htat<». 
 
 Statenti'titH and liicmw*. ....mt be nuicwod annually, ami the 
 general pioviHioim regarding HiiperviHioii aro tin* Haino aH tlioBc for lifo 
 companioa. hVatornal sociolifB aro exoniid from compliaiico. 
 
 FvvH, — To CommiHHionor: 
 
 lAir (lling charter ami other pa|)erH when admitted, and for all 
 lic«n«08 iHHiied during the onHuing year, two huinlrcd dollars. 
 
 Kor tiling annual Htalement and for licenHos «'ach year thereafter, 
 two hundred dollars. 
 
 TflJreM. — One fwr cent, on all nioneys received in the State on 
 now huBinoBs during the year ending December thirty-ilrHt. 
 
 PciHtfflt'M, — For tran8a(!ting busin(!8s for con^fknios not having 
 complied with the law, a line of not less llian llfty nor more than one 
 hundred dollars for each ofifonse, with itnprisoninent if not paid or 
 replevied. 
 
 LOUISIANA. 
 
 [Legialiiture meett tilonnlaUy. Next aeidlon, May 19, 180O.] 
 SiMKON ToHY, Assislanl Secretary of Stale, New Orleans. 
 
 AdniiHHloH. — No insurance company can do business in this 
 State until it shall have filed with the Secretary of State a copy of the 
 last annual statement of its business and affairs, duly sworn to under 
 
63 
 
 LOUISIANA. 
 
 oath of tho I'resiiloiit and Becretary of iho company, or in their stead 
 the reHidont tnanagcr of tho United Htatcs, if it U- a foreign insurance 
 coninnny, with power of attorney to, and ai»poiiiting an agent, and 
 obtaining a cortilicato of compHance from the Secretary of State. 
 
 Annual ,S7ff<r»*rM^« in^st be made under oath of president 
 and secretary, or resident manager of foreign company, hetW(Hni the 
 first .lay of January and the first day of Murcli. Statements must be 
 publisJied by agent for one month in two newspapt^rs of tlio parish 
 wliere he is located, and must be liled in tho ofTice of the Secretary of 
 State. The puljlication is of Louisiana business only. 
 
 l,ife companies must file with tho State Auditor, annually on the 
 first of January or within ninety days thereafter, a statement similar 
 to the annual statement required by their charter or by the laws of 
 the Sta^e where organized. 
 
 /''Oiv'/f/i*.— Kvery foreign company must deposit twenty-five 
 thousand dollars with the Treasurer of Louisiana, unless it has an 
 equal amount deposited in some other State for the protection of 
 all policy-holders. It must not take credit in its statements or adver- 
 tisements for any assets not in the hands of American trustees or 
 deposited for the benefit of all policy-holders, and within the United 
 
 No foreign insurance company shall be admitted to transact a fire, 
 river, marine, or inland navigation insurance business, or take any 
 risks through any agent, agents, or attorney, until they shall have filed 
 with the Secretary of State a copy of their charter, officially veritied, 
 a certified copy of a statement of their affairs, a certifu d copy of the 
 vote or resolution by which their agent or agents were appointed in 
 the United States, and this Slate, together with a certified copy of 
 the trust deed or instrument under which they are to act, defining tlieir 
 powers and if the agent or agents' appointment in this State is derived 
 from the general agent for the United States, said agent or agents 
 shall be further vested. That service of legal process, original mesne 
 or final on such agent shall bo taken and hold as valid as if served on 
 the company, and that acknowledgement of service of such process by 
 him for or on behalf of such company, shall be obligatory on it and that 
 judgment recovered on such service or acknowledgment shall be con- 
 clusive evidence of the indebtedness of the company. 
 
 TtlJreK. Foreign fire and marine comijanios are taxed upon their 
 
 capital six mills on the dollar, unless the same pays a tax in some other 
 State. The capital here meant is the aggregate of deposited securities 
 in this and other States and real estate bonds and mortgages. 
 
 Licences are based upon the premiums annually collected in 
 the State, less reinsurances and cancellations, and must be paid to the 
 tax collectors of the parishes on or before the first day of March, after 
 which date they bear interest at the rate of two per cent, a month. 
 They are divided into classes as follows: , j , a 
 
 First class— When said premiums are three hundred thousand 
 dollars or more, the license shall be seventeen hundred and fifty dol- 
 lars ($1,750). 
 
LOUISIANA. 
 
 63 
 
 )r in tlieir stead 
 jFoign iiiHiiranco 
 an agi-nt, and 
 y of Stato. 
 
 ith of president 
 ,ny, betwoen the 
 onion ts must bo 
 ;rs of the parish 
 the Secretary of 
 
 annually on the 
 tatoment similar 
 jr by iho laws of 
 
 joait twenty-five 
 
 unless it has an 
 lie protection of 
 (uients or adver- 
 rican trustees, or 
 ithin the United 
 
 to transact a fire, 
 ess, or take any 
 jy shall have filed 
 officially verified, 
 tifird copy of the 
 vere appointed in 
 
 certified copy of 
 act, defining their 
 is Stato is derived 
 
 agent or agents 
 !ss, original mesne 
 d as if served on 
 )f such process by 
 ;ory on it, and that 
 lent shall bo con- 
 
 e taxed upon their 
 , tax in some other 
 eposited securities 
 lortgages. 
 
 nually collected in 
 lUst be paid to the 
 ay of March, after 
 ler cent, a month. 
 
 hundred thousand 
 Ired and fifty dol- 
 
 iSocond class — When .said preiniums are two hundred and (ifty 
 thuiiHund (lollurs and l(;.«s than thieo liuna -cd thousand dollarH, the 
 liccii.se shall ln' lifteen iiundred dollars (§1, ,')()()). 
 
 Third class— When said premiums are two liuiidrod thousand dol- 
 lars, and loss than two hundred and fifty thousand dollars, the license 
 •shall 1»(' twelve hundred and fifty dollars ($],'.'.")()). 
 
 Fourth class — When said preniiums mo one Iiundred and fifty 
 thousand dollars, and less than two Iiundred tliou.sand dollars, the 
 license shall be one thousand dollars ($1,000). 
 
 Fifth class — W lion said preiniums are one hundred thousand dol- 
 lars, and less than one hundred and (ifty thousand dollars, the license 
 shall be seven hundred and fifty dollars (8750). 
 
 Sixth class — When said promiuniH are eighty thousand dollars, 
 and less than one hundred thousand dollars, the Ucense shall be seven 
 hundred dollars ($700). 
 
 Seventh class — Wlien said premiums are seventy thousand dollars, 
 and less than eighty thousand dollars, the license shall bo six hundred 
 and fifty dollars ($G50). 
 
 Eighth class— Wlien said priimiums are sixty thousand dollars, 
 and less than seventy thousand dollars, the license shall be six hundred 
 dollars ($G00). 
 
 Ninth class— When said premiums are fifty thousand floUars, and 
 less than sixty thousand dollars, the license shall be five hundred and 
 fifty dollars ($550). 
 
 Tenth class — When said premiums are forty thousand dollars, and 
 loss than fifty thousand dollars, the license shall be five hundred 
 dollars ($500). 
 
 Eleventh class — When said premiums are thirty thousand dollars, 
 and less than forty thousand dollars, the license shall be four hundred 
 and fifty dollars ($450). 
 
 Twelfth class —When jaid premiums are twenty thousand dollars, 
 and less than thirty thousand dollars, the license shall be four hundred 
 dollars ($400), 
 
 Thirteenth class — When said premiums are ten thousand dollars, 
 and less than twenty thousand dollars, the license shall be three hun- 
 dred and fifty dollars ($350). 
 
 Fourteenth class — When said premiums are less than ton thousand 
 dollars, the license shall be three hundred dollars ($300). 
 
 The Attorney-General rules: "Under Sec. 28 of Act 101, 1886, 
 any person, firm, or company having more than one place of business 
 of any kind, shall pay a separate license for each. This does not 
 mean a double or treble license for all the business done at all the 
 places, but that license for each place shall be graded on the amount of 
 business done there alone." ." Under this general provision separate 
 insurance agencies, reporting independently to the same foreign com- 
 pany, or its general agent outside of this" Stato, would be liable for 
 separate licenses, each according to the business done by it." 
 
 Under this ruling all sub. dual, or co-agents must report to the 
 general agent and attorney of the company, where said agent and 
 attorney resides, which is considered the domicil of the company in 
 this State, or pay separate licenses. Nor can any person represent 
 
 ■■ A--i^i^^m^Mmmi^mmmm(tmmi» '' 
 
54 
 
 MAINE. 
 
 and cornplianco obtained. j^ j^^^i. 
 
 Every mun c pal corporation m the Mate, w'loro »» »B ^ 
 
 ^^^^^^S^X^Srplit Sicense^ in a con«picuoi. place in 
 
 ''"[i^Ses to the aHsured are prohibited by law under penalties of 
 forfeiture of right to do business. 
 
 MAINE. 
 
 [LeKWatnre meet, biennially. Nt-xtse.Blon January 7. 1891.) 
 Joseph 0. Smitu, Insurance Commissioner, Augusta, P. O. 
 A.UulMHton -Every insurance company desiring to transact 
 
 """se^L of process may be made upon any authorized agent of such 
 com w an 1 ' haTl be v Jlid and binding upon the company I no 
 
 mmsmmm 
 
 may suspend the power of the company ^o /« ^---s in th«^^^^^^^^^ 
 No stipulation shall deprive the «°^^'« "^f^j^fp^iod before com- 
 
 in":?^g^ufrt;^^^^^^ ^^^ — ^^ 
 
 action accrues. 
 
 after annually. ^ ^^^^^ ^^^ ^^^ filed with 
 
MAINE. 
 
 66 
 
 !opy of the act 
 ite of authority 
 
 n agent is donii- 
 riso as the Stat(\ 
 lors are small in 
 he State lietween 
 cceived the lirst 
 z, after the first 
 
 siiicuous place in 
 
 nder penalties of 
 
 , 1891.) 
 
 USTA, P. O. 
 
 siring to transact 
 ith the Insurance 
 laws; a statement 
 wing its financial 
 
 ized agent of such 
 company. If no 
 Insurance Com- 
 on the agent. If 
 id made of agent 
 otice and hearing 
 jess in this State. 
 »te of jurisdiction 
 leriod before corn- 
 time the cause of 
 
 pany before trans- 
 from the Commis- 
 [o business in the 
 be renewed there- 
 has been filed with 
 am the company or 
 jmpany authorizing 
 sen duly appointed 
 ler shall thereupon 
 e until the first day 
 o year in like man- 
 
 ner. The knowledge of the agent of the company in reference to 
 risks antl of omissions and misdescriptions, shall bo regarded as the 
 knowledge of the company, and as waived by it the same as if noted 
 in the policy. 
 
 Special licenses may bo granted to fire insurancio agents to place 
 excess lines in unauthorized companies having $100,000 capital, on 
 payment of ton dollars license fee and filing a bond that tliey will pay 
 a tax on gross premiums of one per cent, 
 
 Mjcamluatlons and ImjmirmeiitM.— SVhcimver the 
 Commissioner deems it necessary for the protection of policy-holders, 
 he may examine into the condition of any company transacting busi- 
 ness in this State. 
 
 If it shall appear upon such examination or otherwise that the 
 assets of any fire or marine company having a specific capital, after 
 deducting therefrom the amount of its liabilities and a re-insurance 
 fund as required by law, do not amount to more than three-fourths of 
 its capital stock, the company shall, by assessing its stock, or in some 
 other way. fully repair its capital, and unless it do so within three 
 months after notice from the Commissioner, the Commissioner shall 
 suspend its right to do business in the State. 
 
 Whenever it shall appear that the net cash funds of any life insur- 
 ance company are not equal to its liabilities, including its premium 
 reserve, computed as required by law, he shall give notice to the com- 
 pany and Its agents to cease the issue of policies within the State. 
 
 Whenever the Commissioner thinks any licensed company is in 
 failing condition, or unsafe, he may, on reasonable notice, suspend its 
 right to do business in the State. 
 
 Fire and Marine. — Every stock company shall possess a 
 bona fide paid-up capital of at least two hundred thousand dollars, 
 well invested and secured, and every mutual company shall possess 
 cash assets of like amount. 
 
 Annual statements shall be filed on or before the 3l8t day of Jan- 
 uary 'n each year, and shall show the exact condition of the company 
 on the preceding 31st day of December. Such annual statement con- 
 densed, shall be published three weeks successively in some daily or 
 weekly paper, printed in the county where the company has a duly 
 authorized agent or takes policies. 
 
 The reinsurance fund shall be computed at fifty per cent, of all 
 premiums on existing fire and inland risks, and the entire premium 
 on outstanding marine risks. 
 
 Life, — Every company must possess net assets to the amount of 
 one hundred thousand dollars, invested in or secured by real estate, 
 bonds, stocks, and other available securities. 
 
 Annual statements shall be filed on or before the thirty-first day of 
 January in each year, and shall show the condition of the company on 
 the preceding 31st day of December. 
 
 The basis of valuation is the Actuaries' or Combined Experience 
 Table of Mortality, with interest at four per cent, per annum. 
 
 I'he Commissioner accepts a certificate of valuation from the 
 
 .^*aM»8aiMg#fe^8ail!a^te^»»^^t^e^w!^a^>!^■ 
 
fte 
 
 MAINE. 
 
 proper omcial of any other Htalo of the atnount of premivun reHervo 
 comnuttKl upon the l»asiH rciiuirci by law. 
 
 Maine hL n anti rebate law similar lo those o| Massachusetts and 
 
 other States. ' 
 
 I Sr,-t,Hi'H -Kvcry company must annually prof re from the 
 Con^f^Jire. a license/whicl/shail e.xpin, on the «rst u.y of July m 
 each year. Amount of license fee, twenty dollars. 
 
 /,V/>n For airont's licenses, one dollar. 
 
 For examination of companies, the a<:tual expenses mcurred. 
 
 TfurOH -Every company, on or before the 3l8t day of January, 
 annSly, shall make\ retirn'under oath to the Insurance C%>mm.H^ 
 sioner, s ating the amount of all premium, received m tins Sta e by 
 »L r-nninanv durinu the year on-iing on the preceding 3l8t day of 
 DecS and t amount to be .ledScted ihorofrom for losses >n tins 
 Sate dur' .g the year, and so much of any of said premui.ns as may 
 be returned or allowed during the year to the .usurer, as not colh^cte.!, 
 
 Ld or" arned Huch compa.iy shall pay a lax of two per cent, upon 
 tSe balanceTf such premiun's remaining after deductions as aforesaid 
 
 on or before May first. 
 
 I*.'H«/^#V'«. — Every agent who acts for any cornpany without 
 
 procuring a lic-^B« ^^^^ fhe Commissioner, shall be subject to a pen- 
 
 oltu nf not more than fifty dollars for each offense. . 
 
 ^? anrcompany or its agents, after notice from the Commissioner 
 
 to susp.?dTts business in tl^ State, issue any policies or do any W 
 
 ness such company or agent shall forfeit not exceeding two hundred 
 
 dollars. 
 
 ASSESSMENT INSURANCE. 
 
 Every assessment company, as a condition precedent to t'^e jjans^ 
 action of^nisiness, shall deposit with the Insurance CommiHS oner a 
 PPrtilied coDV of its charter; a statement under oath, of its piesiaeni 
 3 ecretary, in tbe form by the Insurance Commissioner required 
 oflts bSS for the preceding year; a -rt-Ticate, under oath of ^ 
 president and secretary, that it is paying and f^'-.f «/*? Jf, ™^° e^^^ 
 nrecedintr has paid., the maximum amount named in its policies or cer 
 Eate"' ff a certificate from the proper aiuhoMy in ^ts ^lo- Bta. 
 that corporations of this St^te, engaged according f« ^^f^" P^«;;^7"X 
 this act in life or casualty insurance on the assessment plan, are egai y 
 entit^d to do business in such State; a copy of its policy or cer ificate 
 and aDPlication. which must show that benefits are provided for by 
 iessEtupo^ policy or certificate holders; evidence satisfactory to 
 the Insurance Commissioner that the corporation accumulates a fund 
 
 e'qtiaUt aUtfmes in amount to not ;-V^"".?ZThtslrac" mt 
 meut on all policy or certificate holders thereci, that such accumu 
 Z\L °s permFtted by the law of its incorporation, and is a trust for 
 
 he benefit oT policy or certificate holders, and is secur ly invested. 
 The Insurance Commissioner is made the authored and lawful 
 
 attorney for such corporation. 
 
mmmmm 
 
 MARYLAND. 
 
 57 
 
 remiutn renerve 
 issacliuHetts and 
 
 roc 'TO from t.h«5 
 t day of July in 
 
 3 incurred. 
 
 (lay of January, 
 iu ranee CommiH- 
 in this State by 
 liuK 3l8t day of 
 
 for losses in this 
 remiuina as may 
 ■, as notcoUticted, 
 vo per cent, upon 
 Lions as aforesaid 
 
 company without 
 subject to a pen- 
 
 tho Commissioner 
 s or do any busi- 
 ling two hundred 
 
 dent to the trans- 
 e CommiHsioner a 
 ,h, of its president 
 nissionor required, 
 under oath, of its 
 ;he twelve months 
 its policies or cer- 
 ity in its home state 
 o the provisions of 
 ent plan, are legally 
 policy or certificate 
 e provided for by 
 ence satisfactory to 
 iccumulates a fund, 
 (ceeds of one assess- 
 that such accumu. 
 and is a trust for 
 Bcurly invested, 
 thowzed and lawful 
 
 The provision in regard to lifionses, ngcnts, and brokers are the 
 same as are applicabio to other iiiHuranci! companies. 
 
 No corporation shail issue a poh(!y or citrtillcate on the life of any 
 person more than Hi.xly years of af,'('. 
 
 Every corporation doing busines^s uiuU'.r this act .shall annually, on 
 or before tho thirty-lirst day of January, return to the Insurance Oom- 
 nii-saioner, in such nianricr and form as he shall prciscrilic, a statcmont 
 of its affairs for the year ending on tho proccdiiig thirty-lir.st day of 
 December, ami the said ('ommi.Maioner, in person or by deputy, shall 
 have tho powers of visitation of and examination into affairs of any 
 such corporation which are conferred upon him in the case of life in- 
 surance companies. 
 
 The fees for filing statements, certificates, or other dofuimonts, or 
 for any service or a<rt, of the Insurance Commissioner, aiid the penal- 
 ties for any violation of this act shall be the same us provided in the 
 ca.se of life insurance companies. 
 
 Reciprocal provision. 
 
 MARYLAND. 
 
 [Legialuluru mseti biennially. Next lemilon, Jiinoary 3, 1690.] 
 
 J. Predkrick C. Talbott, Insurance Commissioner, Annapolis, Branch 
 
 OflBco, Bai.timoue. 
 
 Aflmitision. — Every company desiring to transact business in 
 this State, before adniLssion must file with the Insurance Commis- 
 sioner — 
 
 A certified copy of its charter or deed of settlement. 
 
 A certificate from the Insurance Commissioner or other proper 
 official of the State or nation where the company is organi;5ed, showing 
 that the company is entitled to assume risks and issue policies. 
 
 A statement verified by the signature and oath of the president, or 
 vice president and secretary or actuary, showing the condition and 
 affairs of the company. 
 
 A written stipulation, duly authenticated by the company, agree- 
 ing that any legal process affecting the company served on the agent 
 specified by said company to receive service of process for the com- 
 pany, shall have the same effect as if served personallj on the 
 company. 
 
 If such company should cease to maintain an agency in thi Jtato, 
 process affecting such company may be thereafter terved on the Com- 
 missioner. 
 
 Such stipulation cannot be revoked or modified by tho company, 
 except that a new one may bo substituted. 
 
 A certificate of the appointment of a. general agent for this State, 
 and a list of agents authorii;ed to transact business for the company. 
 
 Certificates und Affents. — Every company, upon complying 
 with the requirements of law, shall receive from the Insurance Com* 
 
 fWM»aUSBWk!><M'iBWM«bA#«&t.W(W«8t» a!^ 
 
68 
 
 MARYLAND. 
 
 rniBHioncr a cortincaU, of authority or license E^^-'y *»f";;,"^ .f'^'i^i^ 
 
 which the company is located, and if ho is not satisnod with the 
 Tnfor matbn o teinod from «uch InHuranco CommiBmoner or the offl- 
 corsTt cm ipany that the condition of the company is such as to 
 warranttm i7Jemittin« it to transact business, he shall make an 
 
 '^'"I'f ::;^le" of ITiTcSpany. after being char«ed with its proper 
 liab itieJand a reinsurance 'fuifd a« required by law ^js >ts ca^al 
 stock impaired to the extent of twenty five per cent., the Commis 
 
 oner haU gVve notice to the company to make good its wl|ol« capit^ 
 stock within^sixty days ; and if this bo not done he shall require the 
 com nan V to cease to do now business within the btate. 
 'Tafiy life company domg business in this State ms not on hand 
 assets equal to the net value of all ts polices m force after all the oU or 
 debts of the company and claims against it have been provuJca 
 for exclusive of capital stock, the Commissioner shal publish ho fact 
 
 hat the then existing condition of the company is below ho standard 
 oKiV required b? the laws of this State, -f. "'^ ^^^^ *^« 
 company to at once cease doing new business within the State. 
 
 m^t' and Marine.— ^^very stock company must possess a 
 capiSock of auSont hundred thousand dollars. Annual stat^^ 
 its must be filed on the first day of January in -f^y^^';.^''^^^ 
 Sy days thereafter, and shall show the affairs and condition of the 
 company on the preceding 31st day of December 
 
 The Insurance Commissioner annually at the t™® o\;,««"^°f 
 license shall publish an abstract of the annual -tat^rnent of each om- 
 pany doing business in this State once a week, for three successive 
 weeks, in a daily newspaper published in Baltimore. 
 
 E^h company shall publish in another paper such f^sti act three 
 consecutive times, such publication to be made the first time prior to 
 Z first daVofMkrch in each year. Both publications to be paid for 
 
 ^^ ?hTe"Lurance fund is computed at fifty per cent, of all premiums 
 on unexpired fire-risks having less than one year to run, and a pro 
 rL of aff premiums received on unexpired fire-risks having one year 
 or lonLr to run • all the premiums received on unexpired marine and 
 ^nuTrlslrfoVle^s than^ne year, and B-ty per cent, of premium 
 upon yearly risks and risks covermg more than one passage not 
 terminated. 
 
 Lifc-Evevy companv must possess well-invested assets to tha 
 amount of one hundred*^ thousand dollars. Annual statement's must 
 brfited on the first day of January in each year, or within sixty days 
 thereafter and shall show the condition oi the company on the pre -, ■ 
 ced ng Sl^t Say of December. Must publish annual statement same 
 
MARYLAND. 
 
 »• 
 
 agent or solicitor 
 ! a\ithority. All 
 it in each year. 
 
 Whenever the In- 
 cy or the correct- 
 icate such doubts 
 ler of the State in 
 atisfied with the 
 uioner or the offl- 
 miiy is such as to 
 he shall make an 
 
 0d with its proper 
 kw, has its capital 
 mt., the Coininis- 
 1 its whole capital 
 B shall require the 
 
 ,0. 
 
 3 has not on hand 
 after all the other 
 re been provided 
 ill publish the fact 
 )elow the standard 
 e shall require the 
 the State. 
 
 ly must possess a 
 :s. Annual state- 
 ach year, or within 
 d condition of the 
 
 time of issuing 
 ment of each com- 
 )r three successive 
 
 uch abstract three 
 5 first time prior to 
 tions to be paid for 
 
 ?nt. of all premiums 
 to run, and a pro 
 ks having one year 
 expired marine and 
 r cent, of premium 
 n one passage not 
 
 ■ested assets to tha 
 lal statements must 
 ir within sixty days 
 jompany on the pre-, 
 ual statement same 
 
 as in flro and niarino, except that the (irst pul)lication muHt he made 
 prior to the (irst day of April in oarh year. 
 
 Valuations aru ba-ted on the Amuricaii Kxperinnco Tabl'i of Mor- 
 tality, with interest at four and one-iialf per lent, per annum. 
 
 The Coniinissionor is re((uired to accopt the valuation of the Com- 
 missioner of the State where the company is located or in which it 
 elects to have its policies valued, if such valuation be made on sound 
 and recognized princ'ples and a basis not Iokm tlian that estabiiuhnd by 
 this State. Tlio company shall furnish the Commissioner a certificate 
 from the Commissioner of such State, showing the value of all out- 
 standing policies of such company on the preceding .list day of 
 December, and stating that after all debts and claims of the company 
 are provided for, the company possesses asscds e<in«l to the net value 
 of all its policies in force, and is authorized to do business in its own 
 State. Any company that fails promptly to furnish such certificate 
 shall furnish a detailed liat of its policies and securities. 
 
 Any company, association, partnership, or corporation, granting 
 insurance on the lives of persons imder the age of ten years, must 
 value all its policies issued, on the lives of per.sonB under the age of ten 
 years, in accordance with the general legal rules for the valuation of 
 life insurances policies, based on the mortality table known as Farr's 
 number three, for imilus; provided, that in no case the valuation for 
 the said policies on the lives of persons under ton years of age shall be 
 less than eight-tenths of ihe weekly gross or office premiums thereon, 
 with no credit for deferred net premiums. 
 
 Each company 8ht\ll annually file a certificate showing a deposit of 
 one hundred thousand dollars, in proper securities, with the chief 
 financial officer of the State where the company is organized, for the 
 benefit of all its policy-holders. 
 
 Companies doing industrial business must take a bond from each 
 agent or solicitor of not less than $50. 
 
 Foreign, — Annual statements of the business and condition of 
 the company, other than that relating to its affairs in the United 
 States, shall be filed on or before the first day of July in each year, 
 and shall show the condition of the company on the preceding 31st 
 day of December. In calculating the ro-insurance fund to determine 
 the right of any such company to do business in this State, the same 
 shall be computed only upon its business in the United States. " The 
 basis " of such reinsurance fund so required shall be the assets of such 
 company held and invested in the United States. 
 
 Fee», — For filing certified copy of charter, twenty-five dollars. 
 
 For filing annual statement, twenty-five dollars. 
 
 For each agent's certificate of authority, ton dollars; but sub-agents 
 or solicitors appointed by the general agent of a life insurance company 
 in this State shall pay for their certificates of authority two dollars. 
 
 For each abstract of annual statement for publication, two dollars, 
 also the actual net cost of such publication. 
 
 For every copy of any paper filed in the department, twenty cents 
 per folio; and for affixing the official seal to such copy and certifying 
 the same, one dollar. 
 
 -■ ^i^t^imkiSiimti»sM i ^xm s i>." 
 
90 MASSACHUSETTS. 
 
 For viiliiinn \mhcm of lif« inBuranco cornpftnies, thirty dollar* por 
 million of iimuran.^.s or any fraclioii th.'roof. 
 
 For omciftl cixuiiiiniiUoii of coinpiiiiiort umlur llim iict, tUo ttctum ex 
 l^nacH inc.urroii. 
 
 ToxrM OHd /./<v.iM<'-.-Kv«ry company upon V^^^ 
 from th« C.uuniHsionor a crtillcatn of authority or iicohso ahull pa> 
 into tho Htuto treasury annually tl... sun. ..f two hun<lr...l S'""'^''«; /;";' 
 proiK^rtionatoly for a.iy fraction of llio ymr .t shall . o •'"«"'7 '"'''« 
 State prior to tho thirty (irHt day of December next after it« admms on. 
 
 The Koneral agent or chief accounting oflicor of each company shall 
 report under oath to tho Insurance Com.niHmoner the gross premiums 
 received and UmseH paid in thiH State during tho last license year, and 
 Buch company hIuiU pay into the treasury a tax of one and ono-lia if 
 por cent, upon sue.h premiumH, less Huch losses, not includmg in such 
 losses endowments. Hticiprocal provision. 
 
 j»f.,tantrH.— A.ny {wrson or company violating any of the pro- 
 visions of law relating to insurunc! shall be subject to a hue not less 
 than one hundred dollars nor more than one thousand dollars. 
 
 AHSE88MKNT IN8UBANCE. 
 
 Assessmont companies of oth(!r States aro required on admission 
 to comply with all tho foregoing requirements relating to life insur- 
 ance companies so far as they may bo applicable. 
 
 I 
 
 MASSACHUSETTS. 
 
 tLeBli-lature mceU unniially. Next ecufioii, .lanuary, ItSO.l 
 Gkoroe S. Mkrkim,, Insurance Connnisstoncr, Boston. 
 AdmlHHion.— ^^very company desiring to transact business in 
 thie State, before admission must file with the Insurance Commis- 
 sioner , 1 .-C J 
 
 A copy of tho charter of the company duly certihed. 
 
 A statement signed and sworn to by the President and Secretary 
 of the company, in the form prescribed for annual statements 
 
 Every company shall appoint, in writing, the Insurance Gomims- 
 sioner of this State, or his successor in office, to be its true and lawful 
 attorney in this State, upon whom any process may bo served with the 
 same olTect as if the company existed in the State. A copy of such 
 writing shall be filed in the ofiBco of the Insurance Coinmissio'' p.r. 
 Fidelity insurance companies can bo admitted to this State if posses ?cl 
 of not less than $200,000 capital. The capital must be fully paid up 
 in cash and must be unimpaired. 
 
 CertMcates and A{fenm.— ^ny person not a duly licensed 
 insurance broker, who solicit.^ insurance on behalf of any insurance 
 company, or transmits for a person other than himself an application 
 
MASSACnUHETTS. 
 
 01 
 
 irty (lollnrH por 
 t, lUo ttcUiftI «x- 
 
 ipdii piociiring 
 icdhw, HhttU pay 
 nxl iloUiirH, ttiitl 
 I l)UHiiioH8 in the 
 iv its adiiiiHsion. 
 h company Bliall 
 j^ross promiuinB 
 ic(\n8«» yoar, and 
 no and ono-half 
 eluding in hucIi 
 
 ; any of the pro- 
 to a fine not less 
 1 dollars. 
 
 sd on adnuBsion 
 ing to lifo insur- 
 
 lti90.1 
 
 •, Boston. 
 
 msact business in 
 suranco Oommis- 
 
 ied. 
 
 mt and Secretary 
 atonients. 
 isurance Commis- 
 Is trmi and lawful 
 be served with the 
 A copy of such 
 ce Commissio'^' Rr. 
 I State if posseb ^d 
 ; be fully paid up 
 
 lot a duly licensed 
 ' of any insurance 
 self an application 
 
 for or a policy of inHiiranco to or from such company, or olTors or 
 iiHHumoH to a«;t in tlio nt*gotiation of such iiiHiiranco, hIuiII b<( tinoinud 
 an insurancii agt'tit within the intent of ihoHo Htatutt'H, and Hliali thon-by 
 lioiomd liabiii to all thi» dutioH, n)<|uiHitionH, liabilitioH, and |M)nalti«H to 
 which an agent of such company is Hubjeot. 
 
 An insurance agent shall bo jwrsonally liabh) on all contracts of 
 inRuranco unlawfully made by or through him, directly or indirectly, 
 for or in behalf of any company not authorized to do businoss in the 
 Commonwealth. 
 
 An insurance a^ent or broker who acts for a person other than 
 himself in negotiating a contract of insurance by an insurance com- 
 pany dhall for the purpose of receiving the promiiun therefor bo held 
 to be the company's agent, whatever conditions or stipulations may be 
 contained in the policy or contract. 
 
 No agent shall make or procure to be made, or act or aid in any 
 manner in the negotiation of, any insurance with such company until 
 he shall procure from the insuratice commissioner a certificate of 
 authority so to do which shall state in substance that the company is 
 authorized to do business in the Commonwealth, and that tlus jierson 
 narned therein is the constituted ogent of the company for the trans- 
 action of such business. Such certilicate shall continue in force until 
 the first day of April next after its issut^, and, by renewal thereof 
 before the first day of April of each year, until revoked by the com- 
 missioner for non-complianco with the laws, or until the appointment 
 of the agent is revoked by written notice from the company to that 
 effect filed with the insurance commissioner. While such certificate 
 remains in force the company shall be bound by the acts of the per- 
 son named therein within his apparent authority as its acknowledged 
 agent. 
 
 Every person acting for a foreign insurance company shall exhibit 
 in conspicuous letters, on the sign designating his place of business, 
 the name of the State or country under whose authority the company 
 ho represents has been incorporated or formed. And said company 
 and agent shall also have printed in largo type the name of such State 
 or country and the kind of ofTico, whether chartered or formed as a 
 mutual or stock company, upon all policies issued to citizens of this 
 Commonwealth, on all cards, placards, and pamphlets, and in all ailver- 
 tisements published, issued, or circulated in this Commonwealth by 
 them or him, relating to the business of such company. 
 
 No person shall, as agent of any foreign insurance company, 
 make or procure to be made any insurance in this Commonwealth, 
 until ho has given a bond to the Treasurer of the Commonwealth, 
 with sufficient sureties, to be approved by the Insurance Commissioner, 
 whose approval shell be indorsed thereon, in the sum of five hundred 
 dollars, with condition that he will make all the returns, which, by the 
 provisions of the laws of this Commonwealth, he may be required to 
 make according to the requirements of such !n.ws. Any person mak- 
 ing insurance or soliciting or procuring insurance to be made in viola- 
 tion of the provisions of this section shall be punished by fine not 
 exceeding one thousand dollars; provided, that agents in this Common- 
 wealth of foreign life insurance companies, who are accountable to 
 any agent therein for premiums received, need not give such bond. 
 
«3 
 
 MA8flACnnHETT8. 
 
 may i»t any lirmt oxamiiin llu' uffairn ..f any .•..iitpRuy transiicliiiK \nm 
 turns in tliii Htiito, Rnii iu ilireciorfi. olliouni, und ftgonti* iui<li»r oath in 
 leljitioa tt> itiJHtTai™. ll» may for HuHlcinnt oause r«;okti tint CMrtill- 
 cal« of authority grantotl on Ixilialf of any corFi[»any. 
 
 If tht) a«»iet8 of any (lr« <;oni|iany, aftor sM-ttirig mula a «uni m\ai%l 
 to it« oiiliilanfling lt*halltiei and n« inMurancn fuixl, do not amount to 
 moro tlmn thro«-fourtii» of its capital stock, tlui comimny «ball repair 
 itti capital to the original amount, and failing to do »o «hall not be per- 
 mittiul to do huHinfjiw in this Stato. 
 
 If th« aiw«!t« of any lif*i (!om|)any are not ckjukI to tta liabilitiw and 
 premium rew^rvo eo»ii>iii«ti as r»!quiriMt by law, th« oommisHionor »iliail 
 give notice to tho com()ftny to diwiontinuo Min i«mio of new poticioH. 
 
 Fire and Mftrtu*'.— Kvery atock flr« company uhall pivmwH a 
 capital paid up of tiot loss than two hundred thomtand <l<>llar«. 
 
 Kvory Htook tnarino or tire and marine company aliail [M)SBe8!i a paid- 
 up capital of nut leaH llian three hundred ihoUHand tlollarH. Kvery 
 mutual lire company most posseSH availalde funds over ami above all 
 liabilitieB equal to fifty per contum of all prBmmmB received iucaHh on 
 |)olicie» in force, and have premium obligations liable to astfieMment 
 (iinounling t.i at least tliw cash {iremiums receivml. 
 
 No company uhall insure in a single hazard a larger sum than one- 
 tenth of its not asset*. 
 
 Annual HUteniftrita muut bo filed on or before the fifteenth day of 
 January in each year, showing the condition of the cam|)any c»n the 
 prt'Cdding thirty-first day of Deceml^r. The Commissioner for cansc 
 may extend tho time tor llling sucii statement to February fifteenth. 
 
 The reinsurance fund shall be compuU'd at fifty per cent, of the 
 premiums ret^uivud on fire and inland risks and full amodnt of premi- 
 ums received on marine risks, except upon yearly rska, ufwin which 
 the reserve is Hi.tty per cent. 
 
 The may*)r ami, aldermen of tho several eitiea and ,he selectmen of 
 towns having more than four thousand inhabitants shall, before the 
 first day of October, in the year eighteen hundred and sovonty-three, 
 divide their respective cities and towns into fire insurance districts, 
 and immediately thereafter file plana and specifications thereof with 
 tho Insurance Commissioner, and the same shall Ihj subject to his 
 approval ; and if he disapproves the same, tho mayor and aldermen or 
 selectmen shall forthwith redistrict such city or towii in conformity to 
 his requirement. And no company or association transacting the 
 business of fire insurance in this Commonwealth shall take or Ixavo 
 at risk on property other than dwelliug-housos, farm buildings, and 
 their contents, in any town or such fire insurance distri-jt of a city or 
 town thtirein, an amount exceeding its net assets ava.iable for the pay- 
 ment of lossos in Massachusetts ; and in computing the assets of such 
 company or association insuring property upon thi> mutual principle, 
 its proinium notes shall be included. When from any cause the net 
 assets as aforesaid of any such company or a-ssociation rihall be reduced 
 to a 6um less than tho amount taken or held at risk in any town, or 
 any such fire insurance district as provided in this section, such com- 
 pany or association shall forthwith either cancel and return to the 
 
lMCotiimiMion«r 
 tranaiicliiij^ himi- 
 in uiuitT oalli ill 
 13 ;ok(i tint curtitl- 
 
 Mtdn » aurn «<|aitl 
 l«) not Hinuuiit to 
 {i»ny «hall r«|mir 
 > shftll tiot l»« i)er- 
 
 I Ita liabilitioN mid 
 ommwxionor nliall 
 if now poticioH. 
 
 tny mliull p<>i«ii«wM a 
 lU (lullara. 
 lall {M)»86HHapai(l- 
 i doIlaiH. Kvery 
 ver ail' I above all 
 ecoivtid iu chhIi on 
 blu to aMHOMinent 
 
 ^er BUiu than one- 
 
 e flftoenth day of 
 e conijmny on the 
 liHsionor for c^anec 
 liruary fifteenth, 
 y |Hir cent, of the 
 ainodnt of prenii- 
 I'sika, ui>ou which 
 
 d -he selectmen of 
 8 shall, beforo tho 
 and »evonty-threi', 
 Dsurance districts, 
 tions thereof with 
 be subject to his 
 >r and aldermen or 
 
 II in conformity to 
 n transacting the 
 ihall lako or have 
 rm l)uikling8, and 
 istri'jt of a city or 
 fc.iablo for the pay- 
 
 the assets of sncb 
 I mutual principle, 
 
 any cause the net 
 on shall be reduced 
 sk in any town, or 
 section, such com- 
 and return to the 
 
 MASBACHUMKrrH, 
 
 03 
 
 holder the unoarnod portion of thfl promiuiii iii "» fwlioifm iip<in property 
 in jiuth lurrilory to an auionnl mjual to th« <iiuen!nie b<itw«s>n lhi5 not 
 itflMta and the amount taken or hold at risk, m aforwiaid, or ♦'ll«jct rem 
 hurance U{ion such property for a like mm ; and no such cftnoellfttlon 
 Mhatl take place exci-pt aftur notice to the huhU'r of the |M)licy. Every 
 Niioh corajMiny or attaociation Nhall annually, tri or Iwfont the llfte«<ntli 
 .'.ay of January, return to the Inuuranco Comminxioner a itworn Htitte 
 ment of the emounl taken or hold at risk In ea<;h town or (In- u.s*ur 
 luice dlstricit of a city in thin (Commonwealth, on the thirty-tlrxt day of 
 Dotemlier next prinjeiling. The Inminimo CommiHuioiier may, wIumi 
 ever he deemst it exjK<(lient, nHjuire of naid compnnieH or associations 
 such a Htatemunt or any part thereof ; he may bIho rei|uire such other 
 information, and adopt such ruies and rej^ulations as he may deem 
 pro|M)r and necessary to procure reSialile information upon thismibjoct. 
 
 No insurance company shaU knowingly iMsue any tire insurance 
 jHilicy iip<»n nrofwrty withm this Commonwealth for an amount which 
 together with any oxiHting insurance thereon exceeds the for value 
 of the property, nor for a longer term than ji»'v'on years. 
 
 In all inNuittiice agaiiiHt loss by fire, the conditions of the insurance 
 shall be statod in the body of the policy, and no conditions not so 
 stated Mhall be consitleretl it purl of the contract. 
 
 Whenever any company advertises its a-wi'tM it shall in the same 
 connection and with «'qual coniipicuousnosri, advertise its liabilities, to 
 be determined as requimd in the anniiiil statement. 
 
 All advertisemenis of capital shall show the capital that has been 
 actually paid up in cash. 
 
 PolicloH, renewals, signs, circulars, cards, or other moans of public 
 announcement are held to be advertisements. 
 
 No oral or written miwrepresentation made in the negotiatiou of a 
 contract or policy of insurance, by the assured or in his behalf, shall 
 bo deemed material or defcmt or avoid th«» iiolicv, or prevent it« 
 attaching, unless such miHropresontation ia made with actual intent to 
 deceive, or unlosn the matter misrepresented increnses the risk of loss. 
 
 Mutual insurance companies may b*i authorized to issue policies in 
 this State if they have net cash funds equal to th6so roijuired of stock 
 compHnies. 
 
 No fire insurance company authorised to issue policies in this com- 
 monwealth, shall issue any policy other than the standard form 
 adopted by the legislature, excepting that every such ^•oin{)any may 
 insert any provisions varying from the provisions of the said stAndard 
 policy, provided such provisions are printed ■ separate slips or 
 riders, in tvpe of size not smaller than long primer, and are accepted 
 by the insured; and that tvery such slip or rider is signed by him 
 as well as by an agent or ofBcer of such company duly authorized 
 thereto. 
 
 This law does not prevent any company authorized to insure 
 against damage by lightning from adding in the clause in said stand 
 ard policy enumerating the perils insured against the words "also any 
 damage bv lightning, whether fire •»nsue8 or not," and also from add- 
 ing in the" clause of said policy providing for an apportionment of loas 
 in case of other insurance, the words " whether by fire, lightning, or 
 both." 
 
 
 I 
 
MAHMArniraKTi'a 
 
 
 ODnip»nl)*a iloirig l»iiMin<«M in MiiMiichittKttii Aro not |mrmtu««l to 
 roinaiire mk» iti immiiliitrizfti ((impiiMiiiii. tor vioimion of thin pn>- 
 viitiou the ju'iialty m llvn Kiiiiilrit<| .|.ill»r«. 
 
 All mnlnetMot iiimiriMii'M <mi projMirly In MmwuchuwlU «lmll Im 
 (liM>ni<><i li» li« tiri»«lti ibiTnin. 
 
 If tiiiy reinHfimriro In ni<Kotmt<<| by any comimny, other th»n 
 iliidUKJi tln« Ik'hiiwhI rniiiiU'Mt, »K«'nlit, no t|iMlu«"lion tluTofor hIihII It" 
 umilit upon tliu tax rotnrnit. 
 
 f,iff, — Kvory company rni»«t ponf mh availalilit citHli fnmln to tlio 
 HUiiMinl, of on«i liiin<ir«(l iIioiihhixI ilollum. 
 
 Anmiul KtHtiMiH'iitK Miiutt Imi Hlod on or lw»for«' llm lifti-onlh iliiy of 
 .liinutiry in fiu'li y«nr, nliowinn tlu' coinlition <»f the coniiMiny on tli« 
 pn-ccilnii tlilrly-llrHt. day of Hcf.'inlxT. Tln" CommiKHioniT may oX" 
 tend tin- tiniM for lltinK iiiiiniiil hiiid'iih'ntx. 'I'lin OonimiHwioiior iw ri»- 
 (piin'd t<i ftnmmlly caU-uluUi tliH prcHunt vnliio of ail imiUch'n in com- 
 nanioM tmn«iitlinK ImsinnHx in thm Stiit.-. Tim Immn ..f mnli sttluation 
 m flio Aftnaru-H' or Comhinwl Kx|M'rifnf«; TabU' of Mortality, with 
 intnri'Mt at four jmt <«'nl. \»<i anniitn. 
 
 in valuing the e^^m^ln which (!oin|ww«< iho ltiK;.l nwrve <»f ft lif« 
 inmiranro ntinpany. tli« mal imtato, t\w ImukU iiiul stinkn whall Iki taknn 
 at Hindi a viiluo thiit tim avoranc animal infoiiio Ihcrcof nhall not b»i 
 U'»M than four por coiit. of tlm valHiilioii; and if am hmmiI or invoxt- 
 niont in roiiditiotind u|»on a rate of inUmmt of I^sh iluiii Imir p«r wnt, 
 annually, Hindi iimhoI or inv«Htnmnt mIiuII Im rulod iit iIh vulim, ooniiid- 
 ering the actual inconui and tinui it haw to run, m tint oipiivalenl of 
 a four pir cent, invontnicnt; loaim and croditH shall not bo allowod for 
 inorti tlian thoir ftt<t) valuo, nor hIuiII any aswjt or invi-Mtniont b«) 
 appraiHt'd for nior*- than its markt't valuo Thix (danno Nliall takn 
 olTiJCt on tlu) thirty lirnt day of Doconibor, in tlio yuar one thousand oif^lit 
 hundred and oi^hty-nino. 
 
 Kort'inn lifo coin|)anics inuHt liuvo and kot-p on dojXiBit or in the 
 haiidH of truBtcH's in tho United .StatoH an amount o(|ual to the nut valuo 
 of all itH polu'iort in tho Unitod HtatoH and not Ichb than two hundroil 
 thouHand dollare. 
 
 No life insuranco company doinj; busincHH in MaHHachuHottH Mhall 
 mako or portnit any diBtinction or diw^riinination in favor of in<livid- 
 ualH botwoon iiiHurantH of tho «aino clas8 and equal expectation of life 
 in tho amount or payment of preniiuiiiHor rates charged for policies of 
 life or endowAiont insurance, or in tho dividends or other bonelits 
 payable thereon, or in any other of tho terms and conditiouH of tho 
 contracts it makes ; nor shall any such company or any agent thereof 
 make any contract, of insurance, or uareoment as to such contract, 
 other than as plainly expressed in the policy issued thereon; nor shall 
 any such company or agent pay or allow or offer to pay or allow as 
 inducement to insurance, any rebate of premium payable on the policy, 
 or any special favor or advantage in tho dividends or other benefit to 
 accrue thereon, or any valuable consideration or inducement wliatover 
 not specified in tho |X)licy contract of insurance. 
 
 No discrimination shall bo made on account of tho color of appli> 
 cants for insurance. 
 
 Admitted companies shall make contracts of insurance upon livoa 
 
MASHACniTflRTTfl. 
 
 II 
 
 not |Mrmittit«l tn 
 ttinn uf thia prt>- 
 
 ;lllU<^ttli iihilll Ixi 
 
 itriy, nthor thmi 
 h«<ref(>r nIihII (>" 
 
 ;»mIi fiimlM to thn 
 
 t nftiHsnth iluy cif 
 <-uiii|)any on tliv 
 liMMidticr mtiy ax< 
 iiimiHciotH'r in ro- 
 
 [lulicii'M ill ooiii- 
 of mull valuation 
 
 Mortality, with 
 
 roM^rve of a iif« 
 ■kn Mhall Ui tnlcon 
 ■rcof Hliall not b»i 
 iisHt't or iiive«t- 
 iuii ioiir ptii* t'ont, 
 its vuliiii, cormid- 
 llin <!(|llivul(Ult of 
 i(»l 1)0 allowt!*! for 
 ir invcHtmont bo 
 claiiMf nIiiiII takit 
 no thmiHand oif(lit 
 
 depoBit or in the 
 nl to thfl not valiio 
 han two humlrnd 
 
 aHsachuBottH shall 
 favor of in<iivid- 
 xpoctation of life 
 5«d for policies of 
 or othor bonclits 
 conditions of the 
 my agent thereof 
 to such contract, 
 hereon; nor shall 
 o pay or allow as 
 ible on the policy, 
 >r other benefit to 
 icomont whatever 
 
 ho color of appli- 
 
 irance upon livds 
 
 or property In ManMchuHottii only by lawfully ooiutitutu*! and UchumU 
 rratdnnt agt<nt». 
 
 Fotwian. - Kv«ry forniKii flrn inMiirancu ccunpaiiy hliall de|)<wit 
 with thu 'I uianurtir of thm .Mtato or tho projmr ol11c««r of iioni« Dtlmr 
 8t»t« thn luin of two hundnnl thouiund itollari) for tlio Unt*(lt and 
 wnnirlty of thn |>olioy-holi|»trH in the United ^luttm. Marinr counm. 
 niita niuiit dnpoait thrw liundrnd thounaiid dcdlam. Such dM|K)»)t can- 
 not bo withdrawn until all iKilii-y and othiir obligation* arw Mti»fl«d. 
 
 Thtt capital of any such company coniiiMtN of tlia Hm^uritiit* it hat 
 on deposit with tlui aeviual insuranco or otli««r dupartinents of the 
 variouH Stali'H, and of tho net aMM'ts in tint handtt of trimtoos, residenta 
 and citiztms of tlio United HtatoH, aiiprovod by th»i Ooinniiimionnr, for 
 the general Itonellt and security of all policy holders in the IJnitiid 
 StattM, Thu amount of any one lia/.ard or risk aMHiimcid by any luob 
 company in thiaUtato shall Iw limited to ton |Mtr cent, of its capital to 
 determined. 
 
 Annual statements shall Imi llled on or Iwfore the fifteenth «lay of 
 January in each year, showing the investments an<l condition of 
 the company in thv United Htates the preceding thirtyHmt day of 
 Decern bor. 
 
 FeeM, — For filing certified copy of charter, or deed of settlement, 
 thirty dollars. 
 
 F or filing statement, twenty dollars. 
 
 For agent's certificate, two clullart. 
 
 For certificate of valuation or examination, two dollars. 
 
 P'or license to procure fire iimuranco in unauthorized companios, 
 twenty dollars. 
 
 For broktvr's license, ten dollars. 
 
 For service of process on (Jommissioner, two dollars. 
 
 For valuation of life policies, live mills for each one thousand dol- 
 lars of insurance valued. 
 
 For copioH of any paper on llle in the r)ffico of the Comniissionor, 
 twelve cents per page, and for certifying the same, one dollar. 
 
 Reciprocal provision in reference to fees. 
 
 Taxes, — Every foreign company (liable to pay a tax in this State) 
 shall, lietween the firat and fifteenth days of November in crnch year, 
 make to the tax commissioner a return, signed and sworn to, of the 
 amount insured, premiums received, and HHsessments collected for the 
 year ending on the preceding thirty.first day of October. Tlie tax 
 commissioners sliall theroujion notify each company of the amount of 
 tax due. Such tax shall bo paid to the Treasurer on the tenth day of 
 December next succeeding. 
 
 Every company (except life companies) shall pay a tax of two per 
 cent, upon ail premiums collected in this State. 
 
 Reciprocal provision in reference to any other or greater taxes 
 than those imposed by the laws of this State. 
 
 Every iife insurance company doing business in this State is 
 required to pay annually an excise tax of t)ne-quarter of one per 
 centum per annum upon the net value of all policies in force on 
 
66 
 
 MASSACHUSETTS. 
 
 the 31st day of December, next preceding, held by residents of this 
 
 St&te 
 
 Such company must, on or before the lOtb day of May annually, 
 make a return to the tax commissioner, under oath of its president 
 and secretary, or general agent, showing the number date and class of 
 policies so held, the age of the assured life, and their net value, and 
 the combined aggregate net value. 
 
 The tax commissioner shall, upon such return and upon any 
 other evidence, assess and determine the amount to be paid by sucli 
 corporation. 
 
 T»fitt nltiPM —A contract of insurance made by any company 
 witW c^mplySg with the provisions of law shall be valid, but the 
 Lent procuring the insurance shall be liable to a fine not exceeding 
 five hundred dollars, except that the Commissioner may license (on 
 the payment of a fee of twenty dollars) agents to place insurance m 
 unauthorized companies. Such licensed agents must, l^o^ever in 
 each case file an affidavit that the insurance so placed cannot be had 
 in authorized companies, and must execute a bond for the payment by 
 him to the Treasurer of the Commonwealth of four per cent, of the 
 premiums on such insurance. „„n,„r 
 
 > nv agent doing business without procuring a certificate of autbor- 
 ity or failing to make annual returns, and for various other offenses, 
 is subject to a penalty of five hundred dollars for each offense. 
 
 Any agent or broker procuring the payment of a premium by 
 fraudulent representations is subject to a fine not exceeding one thou- 
 sand dollars or imprisonment. ■■',.,. -v. j 
 
 Any company faiUng to file a stateraem withm the time prescnbed 
 by law is subject to a penalty of one hundred dollars for ea«h day s 
 neglect, but upon application the Commissioner may extend the time 
 for filing annual statements. For wiUfully making a false statement 
 the penalty is not less than five hundred or more than five thousand 
 
 do lift TS 
 
 Every life insurance company neglecting to make the return re- 
 quired for taxation shall forfeit fifty dollars for ea*h day of such 
 neglect, and every such company that makes any false statement in 
 such return shall pay a fine of not less than five hundred nor n.ore 
 than five thousand dollars. 
 
 A88KBBMBHT IN8DBAN0E. 
 
 Admission. — Auy corpoT&tiou organized under authority of 
 another State or government to issue policies or certificatei? of life or 
 casualty insurance on the assessment plan, as a condition precedent to 
 transacting business in this State, shall deposit with the Insurance 
 Commissioner a certified copy of its charter; a statement, under oath 
 of its president and secretary, in the form by the Insurance Commis- 
 sioner required, of its business for the preceding year; a certificate, 
 under oath of its president and secretary, that it is paying, and for the 
 twelve months then next preceding has paid the maximum amount 
 named in its poUcies or certificates in full; a certificate from the proper 
 authority in its home State that corporations of this commonwealth, 
 
residents of this 
 
 )f May annually, 
 
 of its president 
 
 date, and class of 
 
 • net value, and 
 
 a. and upon any 
 > be paid by such 
 
 by any company 
 )e valid, but the 
 le not exceeding 
 
 may license (on 
 iace insurance in 
 lUst, however, in 
 d cannot be had 
 )r the payment by 
 
 per cent, of the 
 
 rtificate of author- 
 lus other offenses, 
 sh offense. 
 )f a premium by 
 seeding one thou- 
 
 le time prescribed 
 ,rs for each day's 
 f extend the time 
 ; a false statement 
 than five thousand 
 
 tke the return re- 
 each day of such 
 false statement in 
 lundred nor n^ore 
 
 inder authority of 
 rtificateij of life or 
 iition precedent to 
 ?ith the Insurance 
 tement, under oath 
 [nsurance Commis- 
 year; a certificate, 
 paying, and for the 
 maximum amount 
 ite from the proper 
 liis commonwealth, 
 
 -?*• 
 
 MICHIGAN. 
 
 67 
 
 engaged according to the provisions of this act in life or casualty in- 
 surance on the assessment plan, are legally entitled to do business in 
 such State; copy of its policy or certificate and application, which 
 must show that benefits are provided for by assessment upon policy or 
 certificate holders; evidence satisfactory to the Insurance Commis- 
 eioner that the corporation accumulates a fund which shall be at all 
 times not less than the proceeds of one death assessment upon all 
 policy or certificate holders thereof ; that such accumulation is permit- 
 ted by the law of its incorporation, and is a trust for i lie benefit of 
 policy or certificate holders only, and is securely invested. Every such 
 corporation sliall also appoint, in writing, the Insurance Commissioner 
 its attorney to accept service of lega' ')rocess. The Insurance Com- 
 missioner shall thereupon issue or renow the authority of such cor- 
 poration to do business in this commonwealth, and such authority shall 
 be revoked whenever the Insurance Commissioner, on investigation, is 
 satisfied that such corporation is not paying the maximum amount 
 named in its policies or certificates in full, and no new business shall 
 be thereafter done by it or its agents in this commonwealth. When 
 any other State or country shall impose any obligation upon any such 
 corporation of this State, the like obligation shall be imposed on sim- 
 ilar corporations and their agents of such State or country doing busi- 
 ness in this State. 
 
 The Commissioner has the same right to examine as is conferred 
 upon him in the case of other companies, and assessment companies 
 are subject to the same fees and penalties as other life insurance 
 companies. 
 
 MICHIGAN. 
 
 [Leglflatnra meets bteontaUy, I7ezt setalon, Jaunary, 1891.] 
 Henrt S. Raymond, Insurance Commissioner, Lansing. 
 
 AdtniHSion, — Every company desiring to transact business in 
 this State, before admission must file with the Commissioner a certi- 
 fied copy of its charter, or deed of settlement. 
 
 A statement under oath of the president, or vice-president, or other 
 chief ofiBcer and secretary of the company, stating the name, location, 
 capital, and condition of the company. 
 
 A copy of the last annual report, if any made, under any law of the 
 State by which such company is incorporated. 
 
 Every company shall appoint an attorney in this State, on whom 
 processes of law can be served, and shall file with the Commissioner a 
 certified copy of the vote or resolution of the board of directors ap- 
 pointing such attorney, which appointment shall continue until another 
 attorney shall be substituted. 
 
 Every company shall also file with the Commissioner a written 
 stipulation, duly authenticated by the company, stipulating and agree- 
 ing that any legal process affecting such company, served on the In. 
 surance Commissioner or his deputy, shall hav« the same effect as if 
 
68 
 
 MICHIGAN. 
 
 i 
 
 i 
 
 I- 
 
 I 
 
 3 
 
 I, 
 
 personally sorvod on the company or its authorized attorney in this 
 
 When any process affoctiiip any company is served on the Com_ 
 tnissioner or his deputy, the same shall be by duplicate copies one of 
 which shall be filed in the office of the Commissioner, and the other 
 immediately mailed, postage prepaid, to the home office of the com- 
 pany, or to the branch, or general agency of the company, or to the 
 address of the authorized resident attorney in this State, as the com. 
 pany may designate in such stipulation. 
 
 Necessary blanks will be furnished by the Commissioner on request. 
 
 CertMcateH and ^jyewe/ew.— Every company before trans- 
 acting business in this State, must procure from the Commissioner a 
 certificate of authority or license. 
 
 Every agent of a "fire or marine insurance company must procure 
 from the Commissioner a certificate of authority, and file a certified 
 copy thereof with the clerk of the county in which hia agency is estab- 
 lished, together with a copy of the statement of the company. A copy 
 of such certificateof authority and statement shall be pubhshed m some 
 paper of general circulation iti this State, four successive times, and 
 proof of such publication be filed in the office of the Commissioner 
 
 within 30 days. „ , * « c a 
 
 All certificates must be renewed annually, and agents of hre ana 
 marine companies are required to annually file copies of such certifi- 
 cates with the clerk of every county in which the company has agents, 
 but publication of such renewal certificate is not required. 
 
 Every agent of a fire company shall in all advertisements publish 
 the location of the company, giving the name of the city, town, or 
 village in which the company is located, and the State or government 
 under the laws of which it is organized. 
 
 Examinations and Impairments. — '^^ Commis 
 sioner, whenever he shall deem it expedient, may examine into tne 
 affairs and condition of any company transacting business in this State. 
 He may, if he deems it for the best interest of the public, publirfi the 
 result of such examination in one or more papers in this SUte. When- 
 ever it shall appear to the Commissioner that the affairs of any com- 
 pany are in an unsound condition, he shall revoke all certificates of 
 authority or license granted in behalf of such company, and publish 
 notice of such revocation in some paper of general circulation in this 
 
 State, for four weeks. • ^v.- a^ * •* 
 
 No fire or marine company can transact business in this State ii, 
 after providing for its proper liabilities and re-insurance fund, com- 
 puted as required by law, its capital stocii is impaired to the extent of 
 fifteen per cent. No life company can transact business in this State 
 if its assets are not equal to its outstanding liabilities and premium re- 
 serve, ascertained as required by law. No accident, plate-glass, live 
 stock, or steam-boiler company can transact business in this State if its 
 capital is impaired tltteen per cent. 
 
 Fire and Marine.— ^v^ry stock company must possess a 
 paid-up capital of at least one hundred thousand dollars. 
 
MICHIGAN. 
 
 69 
 
 ittomey in this 
 
 id on the Com- 
 e copies, one of 
 »r, and the other 
 fico of the com- 
 npany, or to the 
 Eite, as the com- 
 
 [oner on request. 
 
 any before trans- 
 Commissioner a 
 
 ly must procure 
 i file a certified 
 ; agency is estab- 
 mpany. A copy 
 ublished in some 
 388ive times, and 
 le Commissioner 
 
 ^ents of fire and 
 s of such certifi- 
 ipany has agents, 
 lired. 
 
 isements publish 
 he city, town, or 
 ,e or government 
 
 — The Commis- 
 jxamine into the 
 inesB in this State, 
 ublic, publish the 
 hisStAte. When- 
 lirs of any com- 
 all certificates of 
 )any, and publish 
 i^culation in this 
 
 in this State if, 
 ranee fund, com- 
 1 to the extent of 
 ness in this State 
 s and premium re- 
 it, plate-glass, live 
 I in this State if its 
 
 ly must possess a 
 lars. 
 
 Annual statements must be filed on the first day of January in each 
 year, or within one month thereafter. 
 
 The re-insurance fund is computed at fifty per cent, of premiums 
 received on all unexpired fire risks having less than one year to run— 
 a pro rata of all premiums received on unexpired fire risks that have 
 more than one year to run ; the whole amount of the deposit or pre- 
 mium upon perpetual policies; all the premiums received on unexpired 
 marine and inland risks. 
 
 No company shall assume any one risk or hazard to a greater 
 amount than ten per cent, of its paid-up capital. 
 
 Mutual companies possessed of two hundred thousand dollars of 
 net cash assets may be admitted, on compliance with the other pro- 
 visions of the law, and mutual marine companies may be admitted 
 without the net assets, on compliance with the law. 
 
 Companies must enter into a stipulation that they will not directly 
 or indirectly enter into any contract, agreement, arrangement, or un- 
 dertaking of any nature or kind whatever with any other company, 
 companies, association or associations, the object or effect of which is 
 to prevent open and free competition between it and said company, 
 companies, association or associations, or the agents of their respective 
 companies or associations in the business transacted in the State of 
 Michigan, or in any part thereof. 
 
 Michigan has standard form of policy which must be used, almost 
 the same as the New York Policy. 
 
 Life. — Every company must possess one hundred thousand dol- 
 lars properly invested, and must deposit the same with the treasurer 
 of this State for the security of all the policy-holders of such company, 
 or furnish the Commissioner a certificate under the hand and officiai 
 seal of the proper oflHcer of some other State, showing that he holds 
 on deposit one hundred thousand dollars of the assets of such com- 
 pany for the general benefit of all its policy-holders, and stating the 
 amount and securities so held by him. Fifty thousand dollars of such 
 securities must be State or United States bonds. 
 
 Annual statements must be filed in the month of January of each 
 year, showing the affairs and condition of the company on the preced- 
 ing 31 at day of December. 
 
 The Commissioner shall accept a certificate of valuation from the 
 Commissioner or other State officer of some other State, where an oflB. 
 cial valuation of the policies of any company are made, showing the 
 amount of such valuation, and the basis upon which it was made. 
 
 If such certificates be not furnished, the Commissioner shall annu- 
 ally value the policies of such company. 
 
 In making such valuation he shall assume the rate of mortality 
 shown by the American Experience Table, with interest at four and 
 one-half per cent, per annum. 
 
 Anti-rebate law took effect June 20, 1889. 
 
 Accident, I*late-Glass, Live Stock, and Steam- 
 SoUer. — Every such company must possess a paid-up capital of one 
 hundred thousand dollars, and must have deposited with the proper 
 oflBcer of the State where organized, for the benefit of all its policy. 
 
 mumii,m*t i m i K 
 
to 
 
 MICHIGAN. 
 
 Sfi- 
 
 411 
 
 
 fill 
 
 holders at least ono hundred thousand dollars in bondB or stocks of 
 the State whore organized, cr of the United States, or first mortgages 
 on real os'-nte worth double the Hum loaned thereon. Such companios 
 must comply with the law relating to life insurance companies, so far 
 as applicable. Re insurance fund is computed at fifty per cent, of all 
 premiuma upon unexpired risks. , . , . 
 
 Annual statements must be filed in the month of January m each 
 
 year. 
 
 Fo»vff/M.— Every Buch company shall deposit securities with 
 the proper officer of P»mo State of the United States to the amount of 
 two hundred thousand dollars for the benefit and security of the policy- 
 holders of the company in the United States, and shall We with the 
 Insurance Commissioner a statement of the character of such deposit, 
 attested under the oath of the trustees thereof, who must be residents 
 of the United States. . , , . 
 
 Such deposit shall be considered the cash capital of the company. 
 
 It shall also file with the Insurance Commissioner its consent that 
 the managers, resident directors, resident secretary, or general agents 
 in the United States shall be deemed the legal officers of such company. 
 
 Annual statements shall be filed on the first day of June in each 
 year, or within sixty days after the annual meeting of the company as 
 
 specified in its charter. ,„,„,, .v c ^ j 
 
 Supplementary annual statements stall be filed on the first day ol 
 January in each year, or within thirty days theraufter, showing the 
 business of the company in the United States for the year ending on 
 tlie preceding Slst day of December. 
 
 Fees. — For valuation of life policies, one cent for each one thou- 
 sand dollars insurance valued. 
 
 For examination of companies, the actual expenses incurred. 
 
 Reciprocal provision in reference to life companies. 
 
 Taxes, Every company excepting those hereafter specified, at 
 
 the time of filing its annual statement shall file a statement of the 
 gross amount of premiums received in this State, during the preceding 
 year, with the State Treasurer, and shall pay a tax of three per cent, 
 thereon. Every company insuring life, and every accident, plate-glass, 
 live stock, and steam-boiler insurance company shall make return, under 
 oath of the gross premiums received in this State the year preceding, 
 and at the time of filing its annual bUtement pay to the State Treasurer 
 a tax of two per cent, on all premiums received in cash or otherv^ise, 
 by such companies or their agents, or from insured parties residing 
 therein, during the preceding year. This specific tax shall be m lieu 
 of all other taxes in this State. 
 
 Penalties. Fire companies transacting business in this State, 
 
 without complying with the provisions of the law, are subject to a pen- 
 alty of five hundred dollars, and an additional penalty of one hundred 
 dollars for each month they shall continue such illegal business. 
 Agents doing business without certificate from Insurance Commis- 
 sioner are punishable by fine not less than fifty dollars, nor more 
 than five hundred dollars. 
 
MICHIGAN. 
 
 71 
 
 |g or stocks of 
 first mortgages 
 5uch companies 
 npanios, so far 
 per cent, of all 
 
 anuary in oach 
 
 securities with 
 ) the amount of 
 ty of the policy- 
 ill file with the 
 of such deposit, 
 list be resideatB 
 
 f the company. 
 its consent that 
 : general agents 
 f such company. 
 )f June in each 
 the company as 
 
 the first day of 
 )r, showing the 
 year ending on 
 
 ir each one thou- 
 i incurred. 
 
 ,fter specified, at 
 statement of the 
 Dg the preceding 
 t three per cent, 
 ident, plate-glass, 
 ake return, under 
 > year preceding, 
 e State Treasurer 
 ish or otherwise, 
 parties residing 
 X shall be in lieu 
 
 uess in this State, 
 3 subject to a pen- 
 y of one hundred 
 illegal business, 
 sarance Commis- 
 ollars, nor more 
 
 Companies violating the agreement regarding compact laws will 
 have certificates revoked, and agents «ro punished by fine and 
 imprisonment. 
 
 Life companies doing business without complying with the law are 
 subject to a penalty of one hundred dollars for "every application 
 obtained, or insurance, guaranty, contract or pledge made." 
 
 Any person soliciting applications for insurance, or making any 
 such insurance guaranty, contract, or pledge as aforesaid, before the 
 deposit of such securities or before compliance with any condition pre- 
 cedent provided by the laws of this State for life insurance companies, 
 shall be liable to a penalty of one hundred dollars for every application 
 obtained, or insurance, guaranty, contract, or pledge made; and any 
 person who may have paid moneys therefor shall be entitled to recover 
 the same back from the person to whom it was paid, or in case such 
 person was an agent, then, at his option, from the principal of such 
 agent, by action of assumpsit, to be brought at any time within six 
 years after such payment. 
 
 ASSESSlfENT INSUBANOE. 
 
 Admission, — Any corporation organized to do life or accident 
 business on the assessment plan muct file in the office of the Commia- 
 aioner of Insurance a copy of its charter or articles of association, cer- 
 tified under seal by the proper officer in charge of the record. 
 
 A copy of its statement of financial condition and business for the 
 preceding year, sworn to by its president and secretary, or like officers, 
 and in case application for authority is made after the first of July, a 
 supplementary statement should be made showing its condition on the 
 last day of the month immediately preceding the date of application. 
 
 A certificate under oath of its president and secretary that it does 
 not issue policies or certificates upon the lives of persons under twenty- 
 one or over sixty-five years of age, nor upon any person unless such 
 person shall have personally made and signed an application for such 
 certificate or policy, and that it has in force policies of insurance on 
 which the proceeds of one assessment will pay the highest amount 
 insured upon each of the lives of members for which the assessment is 
 levied, the full amount agreed to be paid upon the death of any one 
 member, and that it is paying, and for the twelve months next preced- 
 ing has paid, the highest amount named in its policies or certificates in 
 full. 
 
 A certificate from the Commissioner of Insurance, or other ofSeor 
 in charge of the business of insurance, certifying that the State or 
 territory of the United States or District of Columbia, or foreign 
 country, under whose laws such corporation or association is organized, 
 shall extend the right to such corporations of 'this State to do business 
 in such State or territory of the United States or District of Columbia, 
 or foreign country, upon similar conditions to those in the said act 
 prescribed. 
 
 A certificate from the insurance department, if any, of its home 
 State or territory of the United States or District of Columbia, or 
 foreign country that it is authorized to do business in such home State 
 
 
 ' .'^!a*j*w.nwyi ^m-^\ 
 
va 
 
 MINNESOTA. 
 
 f 
 I 
 t 
 I 
 
 or territory of tho United Statns or District of Columbift, or foreign 
 
 country. . , • • e 
 
 A power of attorney to some citizen and redident of this .State, 
 upon wiiom all process against Haid corporation or association may bo 
 served, and sliall also agroe that Biich service may he made upon tho 
 Commissioner of Insurance of this State, who shall be deemed its agent 
 for that purpose. 
 
 A copy of its certificate of membership, application, and bylaws. 
 It is a requirement of the department that application atatemeiits 
 be verihed by the insurance official of the State in which the associa- 
 tion applying for authority is organized, or by an examination to be 
 made under the direction of the Commissioner of Insurance of this 
 State, and at tho expense of the association examined. 
 
 Annual StatemenU must be made on or before March first, 
 on blanks furnished by the Insurance Commissioner, 
 
 jPee». — For filing preliminary papers and first license, twenty- 
 fiv6 dollftrs. 
 
 For filing subsequent annual statement, twenty-five dollars. 
 
 Penalties, — Any such foreign corporation or association doing 
 business in the StatJ that shall refuse or neglect to comply with the 
 provisions of law, shall be deemed and held to be doing buemess 
 unlawfully, and if any officer, agent, or employee of any such corpora- 
 tion or association shall do business in the State, or assist in, or know- 
 ingly permit the same, in violation of the provisions of this act, he 
 sliall be deemed guilty of a misdemeanor, and upon conviction thereof 
 shall be fined not more than £ve hundred dollars, or be imprisoned in 
 tho county jail not more than ninety days, or both, in the discretion 
 of the court. 
 
 The act does not apply to fraternal organizations. 
 
 MINNESOTA. 
 
 [Leglitatnro meets biennially. Next eeMlon, Jinuery, 1891.] 
 Calvin P. Bailey, Insurance Commissioner, St, Paul. 
 
 Admission, — Every company cleairing to transact business in 
 this State, before admission must tiln with the Insurance Commis- 
 sioner — 
 
 A certified copy of its charter deed of settlement, or articles of m- 
 po 'poratior, or a statement vrri^.c-S by the signature and oath of the 
 president, or vice-president an'" .ecretary, or actuary, showing the con- 
 dition and business of the compauy , 
 
 Every company shall tile with -p 
 ment signed by the president and „, „ „ . . 
 
 of the company that service of proOAJivs in any civil action against the 
 company may be made upon such \ ^n' or agents as it shall designate 
 in such agreement or upon the Insurance Commisioner, and authorize 
 
 Oommissioner a written agree- 
 ecriitary, agreeing upon the part 
 
 't<t^. 
 
MINNESOTA. 
 
 71 
 
 ibia, or foreign 
 
 it of this StatM, 
 sciation may bo 
 mado upon tho 
 eoined its agent 
 
 n, and bylaws, 
 ition atatements 
 lich the aaaocia- 
 aininatioii to bo 
 laurance of this 
 
 fore March first, 
 
 license, twenty- 
 
 9 dollars. 
 
 issociation doing 
 comply with the 
 ) doing buEinesB 
 ay such corpora- 
 jsiat in, or know- 
 s of this act, he 
 3nviction thereof 
 be imprisoned in 
 in the discretion 
 
 , isei.] 
 
 3t. Paul. 
 
 msact business in 
 surance Commis- 
 
 ,, or articles of in- 
 
 e and oath of the 
 
 showing the con- 
 
 a written agree- 
 ing upon the part 
 iction against the 
 1 it shall designate 
 ler, and authorize 
 
 such agent or agents to admit sorvico of process for and in behalf of 
 tho company, and agreeing that such service Hhall bo valid and bind- 
 ing upon tho company. 
 
 There wliall be (ilod with the Commissioner a written stipulation, 
 duly autlienticated by tho company, agreeing that any legal proceaa 
 affecting tho company, served on the Insurance Commissioner, shall 
 have the saino etiect as if served on the company or its authorized 
 attorney. 
 
 All companies are prohibited from removing suits from tho State 
 to the Federal courts, unv'^r penalty of revocation of license. 
 
 CertlfieateH and Ai'entM, — Every company must procure 
 from the Commissioner a certificate of authority, showing that it has 
 complied with the requireneuts of the law of this State, and is entitled 
 to assume risks and issue policies. A cortiiicato showing compliance 
 shall be published in connection with the unuual statement. 
 
 Every agent nmst procure from tho CommisHionor a certificate of 
 authority before transacting any business in this State. 
 
 Such certificate n>ust be renewed annually, withiu sixty days from 
 the first day <•' January. 
 
 Every couipany and agent in all .-tdvortisomenls of the company or 
 agency in this State shall publish t,be location of the company, giving 
 the name of the city, town, or village, and State, in which it is located, 
 and in all advertisements and circulars in which tho capital of the 
 company is stated, the amount at risk the preceding thirty-first day of 
 December shall be stated. 
 
 Soliciting agents for fire insurance must be residents of the State. 
 
 Examination a and InipairnientH. — The Commissioner 
 may examine or cause to be examined, the affairs of any company 
 doing busmess iii this State, whenever in his opinion the interests of 
 the policy-holders require it. He may publish tho result of any ex- 
 amination, when in his opinion the interests of tho public require it. 
 He shall suspend the business of any company in this State whenever 
 its assets appear to him insutficient to justify its continuance in 
 business, by suspending or revoking tho certificates granted by him 
 to such company or its agents, and shall give notice of such action 
 to the insurance officials of every other State, and publish notice 
 thereof in the papers in which by law State notices are required to he 
 published. 
 
 A fire or marine company cannot transact business in this Stat" if, 
 after providing for ail claims against it and a re-insurance fund as 
 required by law, its capital stock is impaired to the extent of ten per 
 cent., unless such impairment be made good within sixty days. 
 
 A life company cannot transact business in this State, if its assets 
 are not equal to its liabilities and claims against it and the amount of 
 its premium reserve computed as required by law. All other insur- 
 ance companies cannot transact business in this State if the capital 
 stock is impaired to the extent of ten per cent. 
 
 Fire and Marine. — Every fire company doing business in 
 this State must possess a paid-up capital of two hundred thousand 
 dollars. 
 
 10 
 
u 
 
 MINNESOTA. 
 
 I 
 
 Aiinuul stalonienta muBt Do Hlml on the flrat day of January in 
 «ach year, or witliiu thirty days llu-nsifUir, verifimi by the gignatuni 
 uiul outh of tho |>rimi<lont or vicoprcHidHnt togutlior with that of tho 
 Bocriitary or wauary, Hhowing Ihn comlition and afTainj of thu company 
 on th« proceding thirtylirnt day of I)ocuinl)«r. 
 
 Sucli sUtement rnuHt be publiHhod at hiast throo timtm, in a daily 
 or wookly new«pap«jr of genoral circulation, printed and publiuhod in 
 uithor Uoiinepin or llarnwiy countioB, and having a bonajide circulation 
 of two thousand copiim or more, or in the county whore the State 
 agency of the company is located. CJommiMioner'H certificate of au- 
 thority must be pubUshed with statement. Printer's affidavit of pub- 
 lication must bo filed with Cominisaionor. 
 
 The re-insurance fund shall bo computed as follows: fifty por cent, 
 of all premiums on unexpired fire risks, that have less than one year 
 to run: a pro rata of all premiums received on unexpired fire risks 
 that have more than one year to run; the entire premium received on 
 unexpired marine and inland risks. 
 
 Where the fire reserve is less than forty percent, of all the fire 
 premiums received during the year, the whole of such premiums shall 
 constitute the reserve on firo business. 
 
 No fire company slmll expose itself to a greater loss on any on« 
 risk than five per cent, of its paid-up capital, and no marine or inland 
 company to more than ten per cent., and no fire or fire and marine 
 company can do a life business. . 
 
 No mutual fire insurance company not of this State sliall do busi- 
 ness in this State unless it shall be possessed of at least two hutidred 
 thousand dollars of actual -jash surplus, ov.t and above all liabiiitins, 
 including the re-insurance reserve fund required by the laws of this 
 State. But mutual insurance companies of other States may be ad- 
 mitted in case the State where such insurance companies are located 
 admit the mutual insurance companies of this State, by complying in 
 all respects with the conditions and obligations imposed by such States 
 on the mutual insurance companies of this State. 
 
 Minnesota has u .upted a standard policy exactly a copy of the New 
 York form. 
 
 Zilfe, Every company must possess available assets to the amount 
 
 of one hundred thousand dollars. 
 
 Every company must furnish the (.Commissioner the certificate of 
 the proper official of the State where the company is located, showing 
 that as such official he holds in trust and on deposit, for the benefit of 
 all the policy-holders of the company, securities to the amount of one 
 hundred thousand dollars, and stating the items thereof, and that he 
 is satisfied such securities are worth one hundred thousand dollars. 
 Any company failing to furnish such certificate shall make a like 
 deposit with the Commissioner or other financial officer of this State. 
 
 Annual statements must be filed on the first day of January, or 
 within forty days thereafter, showing the condition of the company on 
 the preceding thirty-first day of December. Such statement must be 
 published in the same manner as the statements of fire and marine 
 
 companies. . . ,, u 
 
 The Commissioner is required to make a valuation of all tne out- 
 
r of January in 
 ly i\wi iiignatun) 
 viih that of tlin 
 of tho coni|)any 
 
 :iinim, itt a daily 
 )d publiuhod in 
 I fide circulatiun 
 Inhere the Htato 
 urtiflcate of au- 
 iffidavit of pub- 
 
 i: Hfty por cent. 
 « than one year 
 pirod fire rislcs 
 una received on 
 
 it. of all the fire 
 preiniuiuH shall 
 
 loss on any on« 
 uarino or inland 
 fire and marine 
 
 to sliall do buai- 
 kst two hundred 
 (ve uU liabiiitins, 
 the laws of this 
 ates may be ad- 
 nies are located 
 by complying in 
 d by such States 
 
 copy of the New 
 
 3ts to the amount 
 
 the certificate of 
 located, showing 
 or the benefit of 
 8 amount of one 
 •eof, and that he 
 housand dollars, 
 all make a like 
 3er of this State. 
 i? of January, or 
 ! the company on 
 Eitement must be 
 fire and marine 
 
 in of all the out- 
 
 mmmm 
 
 MTNNRSOTA. 
 
 75 
 
 
 (itanding policieii of any company doing bumnena in this State, if such 
 company doim not file with tho {'omminsioner the certifioatft of the 
 proper official of the State where tho company is organized, giving the 
 value of all itH policies, calculated upon the baHis required by the laws 
 of this State, and stating that after all debts and claims against tho 
 company are provided for, it has in safe securities an amount equal to 
 the value of its policies, 
 
 Tho basis of valuation, as established by tho laws of rhib State, is 
 tho American Experience Table of Mortality, with interest at four and 
 one half por cent, por annum. 
 
 Companlea other than Ftro and Mnrlnp and 
 TAfe, — Kvery such company must possess a paid-up capital of at 
 least one hundred thousand dollars, and must deposit with the proper 
 officer of tho State where organized at least one hundred thousand dol- 
 lars in United States bonds, or the bonds of such State, or in bonds and 
 mortgages on improved unincumbered real estate worth double the 
 amount loaned thereon, and assign tho same to such oflicer in trust for 
 tho benefit of all its policyholders. 
 
 Such companies must comply with the provisions of law relating 
 to Ufa insurance companies so far as the same are applicable. The re- 
 insurance reserve shall be computed at fifty per cent, of all premiums 
 on unexpired risks. Annual statements must bo filed in tho month of 
 January, and published as above. 
 
 Foretffn. — Every company must deposit with the proper official 
 of some one of the States, for the security of all its policy-holders in 
 the United States, securities to tho amount of two hundred thousand 
 dollars, and must furnish the Commissioner a certificate from such 
 official that he holds such deposit, and stating the purpose for which 
 it is held. 
 
 The capital of any such company shall be the aggregate value of 
 all deposits in the various States for tho security of policy holders, and 
 its assets and investments vested in trustees in the United States, for 
 the security of tho policyholders and creditors of the company in tho 
 United States, after deducting therefrom tho amount of all unpaid 
 losses and claims against the company, and tho amount of re-insurance 
 reserve on the business of the company in the United States. 
 
 The Commissioner must annually issue to such company a certifi- 
 cate showing tho amount of its so determined capital, and such com- 
 pany must not assume any one risk in this State, greater than five per 
 cent, thereof. 
 
 Fee(t» — For filing certified copy of charter, twenty-five dollars. 
 
 Por filing annual statement, twnty dollars. 
 
 For each certificate of authority and certified copy thereof, one 
 dollar. 
 
 Por every copy of any paper filed with the Commissioner, twenty 
 cents por folio, and for affixing seal and certifying such copy, one 
 dollar. 
 
 For valuing life insurance policies, ten dollars per million of insur- 
 sncQ or any fraction thereof. 
 
n 
 
 M;NNK8(r\. 
 
 ¥^ 
 
 For offlriM nK»ruinfttiofi» of coin|.iiHio», th« actual oJn^niMt* tnciirred 
 In CMO tlu) noc'iiwirf oxiwniKHt of tlin Ct.iiiiniMionMr oxcwl the 
 tern collected, he 8h»ll mw* annually i»uch «xc««« oquiiUy upon »U 
 companieit doing '- 1 Muoib i.i tin* Statu. Heoipr<iC»l clauu*. 
 
 TfijrrM.— A tax of two per cent, upon all premiums ooUoct«d 
 within th.) 8tHt« .luring th« ymr . .ulinn on tho procodinK thirty flmt 
 day of Dewnib.)r, shall \m paid to th« Troaniir^r annually at th« time 
 of iasuinK tbu certi!lcat« of authority. Unciprocal clauM. 
 
 Pf'Haltit'M.— Any pomon acting as agent without licenso i« sub- 
 ject to a flne not «)xc(M«ling ono hiuidrixl dolUrn. Any company will- 
 fully neglecting to niakH and IranHniit any Ntatemunt ruquiicd shall 
 forfeit one hundr«'<l «ioll«r8 for each days noglt-ct, and any lon.pany 
 willfully making a faU.) statoniont in any report to tlio CornmiiMtioner 
 ia liable to a iM<nalty of live hundrod .lollars. The «ame penalty m 
 attached to a failure to reply to a letter from the Commisaioner Mk- 
 ing for •nforraation. . . , ,, , 
 
 If any company nhall violate any of the provisions of the law, or 
 •hall by means of any advertisement, circular, notice, or statement, 
 printed or written, publiHhod, posted, or circulated through and by the 
 agency of any olTicor, agent, or other person, or by any other moans 
 falsely represent or hold out to the public that the capital stock of such 
 company is greater than itm a<'.tual amount, or that the accumulation of 
 such company is greater than its actual cash or market value, every ' 
 director, officer, or agent of such company guilty of any willful 
 participation therein, sliall be deemed guilty of a misdemeanor, and, 
 o« conviction thereof, whall be punished by a fine not exceeding one 
 thousand dollars, or by imprisonment in the county jail not exceeding 
 three months, or by both such fine and imprisonment, m the discretion 
 of the court; and if any such company after any such false advertise- 
 ment, posted or circulated, shall receive any note or obligation for the 
 paymttnt of money, from any person, as a consideration for any 
 insurance made, or policy issued, or to be isau i, by such comjiany, 
 such money, note, or obligation shall be deemed and taken to have 
 been received without consideration, and the directors of such company, 
 and any officer or agent receiving the same, shall be jointly and 
 severally liable in a civil action for the re-payment vhereof. and sball 
 also, in like manner, bo liable to the person insured for the amount 
 of the premium paid. 
 
 ASSESflMKNT I>'8CBAN0B. 
 
 Admisfiion.— Comp&niea must file with the Insurance Commis- 
 sioner such statement as ho may require of t/ieir condition and 
 business, and satisfy him that similar companies organized under the 
 laws of Minnesota would be admitted to do buMness in the State 
 where such companies are organized, and must receive from him a 
 certificate of authority before transacting any businose. 
 
 Annual 8tatementn must be filed on or l)»'fore the first day 
 of February, on blanks furnished by the Commissioner. 
 
MISHfSaiPPI. 
 
 77 
 
 incurred, 
 nwr oxc««'<l the 
 quatly upon «ll 
 
 niumM cotlonUNi 
 (liiiK thirty ft rut 
 ally tit the tinio 
 iie. 
 
 It licenso in nub- 
 y coo»p»nv will- 
 t r«quiro(l shall 
 h\ any i-oiiipttiiy 
 « CoHirnistionnr 
 same i)enalty in 
 tinmitsioner tisk- 
 
 IS of the law, or 
 !o, or Btatein«nt, 
 -uugh and \}y tho 
 iny other moans 
 ital stock of such 
 I accumulation of 
 kot value, every * 
 
 of any willful 
 isdemeanor, and, 
 yt exceeding one 
 nil not excluding 
 in tho discretion 
 h false advertise- 
 )bligation for the 
 oration for any 
 y such company, 
 d taken to have 
 of such company, 
 1 be jointly and 
 hereof, and shall 
 
 for the amount 
 
 isurance Commis- 
 ir condition and 
 anized under the 
 leas in the State 
 Kive from him a 
 m. 
 
 nfore the first day 
 aer. 
 
 /<>•*•«,— Kor llling and reoonlitig preliminary papnrM, ten dollars. 
 
 Fur filing annuni staioniitnt, itm doilitm. 
 
 For oaoh c«rtili«iiit4i of authority and copy thereof, ono dollar. 
 
 Kor copies of pajwrs, iwiujty c«int« jx^r folio, and for affixing si^ai 
 and certifying to same, on« dollar. 
 
 Kor exaniinationit, noceMary expenses not tnoxctMxl in auy oqh year, 
 fifty dollars 
 
 I't'nnltteH,— For non-compllanco with law a fine of not more 
 thun flvf! liumlreil doliarM, or iniprisonmenl, or both. 
 
 Whrin any othwr Slate or territory shall iinjtose any obligation Ufmn 
 such corporation, association, or socinty of this Htato, or their ugents 
 transacting businoss in such other Htale or i<'rritory, tho like obligations 
 are horoby impownl on similar corporationw, asNociationa, or 8ocii>tioa 
 of such other Htate or territory and their agents or rnpnmentativei 
 transacting business in this State. 
 
 MISSISSIPPI. 
 
 (U|([l«l»tiir« mwt blennUlly. N«it Miilon, Jaouarr e, IHSO.| 
 W. W. Stone, Auditor of I'ubhc Accounts, Jackson. 
 
 AdtntHHloH. — Rvery company desiring to transact buHinoss in 
 this State, must, Iwforo admission, possess an actual capital of one 
 hundred and fifty thousand dollars, and must file with tho Auditor 
 
 A copy of the charter, or act of incorporation of the company. 
 
 A statement under oath of the prosidi t or secretary of the com- 
 pany, showing the name, location, capital stock, assets, and liabilities 
 of the company. 
 
 A written instmment, under the seal of tlie company, signed by its 
 president and secretary, authorizing tho agent of the company to 
 ackn' wledge sorvico of process for and in behalf of the company, con- 
 son' g that service of process upon stich agont shall be as valid ond 
 binumg as if served on tho company, and waiving all claim of error 
 by reason of such service. If the agent remove from thia State, 
 abscond or conceal himself so that he cannot be served with process, 
 or if from any cause any company should be without an agent upon 
 whom process can be served, then such service may bo made on the 
 State Treasurer as garnishee of such company. 
 
 Certtficatea and Affenttt, — Every agent shall procure from 
 the auditor a certilicate of authority, before transacting business in this 
 State, and before said certificatp can be issued the agent must furnish 
 the Auditor a certificate from tho tax collector that he has paid his 
 privilege tax. 
 
 Such agent shall file in the office of tho chancery court of the 
 county in which he desires to establish an agency for such company, a 
 copy of tho statement filed with the Auditor, together with the certifi- 
 cate of authority issued to him. 
 
n 
 
 MIfl8ISaiPPI. 
 
 Huch c«ntllcat« of kiUhorit 
 copy nf Htktomnnt shKJi Ui ill 
 
 ■itv 
 
 i 
 
 if; 
 
 m 
 i 
 
 11^ 
 
 ■h»ll hi^ ri^nitwA'l Kiinuklly, and with 
 AN iifi>rt<mi<i. 
 Vh6 ftg«nt of tW'> ftuthorii!«<l ootnixinifla m»y r«cfliv»i a licanM to 
 pl»cfl in«ur»nt!t) in cortii)»ni«'i« not c<»m|ilying with »hi< l»w (in cmn •iich 
 
 of ftv« hiu>«lrn<l «ioll»r«i, and ptyinn ft ii|M(oirtl lii-onxfl fe« of twonly-flvn 
 (InlUm. n<t kIibII rnttkii ipmrtorly n'[M)rt» to th« Amlitor of mich 
 iniiTirnnc**, anil pav » tax uf onu-ttiutb of ont) |M)r tout, on tbu tttuouat 
 of iMur»nc« go pIncuHt, 
 
 Urtu Mavhtt', nnd fJfr, — Annual «tfttemnnts nhall l)o flind 
 on thtt Dml day of March in •men yoar. 
 
 Fof*'lffn. — No initiirancn company, or a»<i«nt of any innurancn 
 company, incorjwratnd hy any oth«r HU\U\ Hhall transact any buiinoM 
 of iniiiranco in thin Htato i.nUjM Huch (lompany in powioikK^d of at 
 loaat ono hiindrod and fifty thou«nnd dolhirs, of in'tiial capilHl, inv»mt«Mj 
 in MtockM of at Imwt par vahm, or in iuujdrt, i»r mortnivK<'>i of ntal 
 cHitate, worth doubla thu amount for which thti luimo is mortgaged. 
 
 Depottltn, — Kach foreign insuranco company whoHo capital 
 dOAM not oxcood two hundred and fifty thounand dollarM, niMRt dnpoHit 
 in th« Htate Tr«aMiiry ton thoiisand dollarn in i jxir c«»Tit. St«to bond*, 
 or rrurroncy, and (If loon thoimaiid doilarH in United Htafos bondi. 
 Each company whoHo (tapital oxctwdB two hundn-cl and (ifty thouaand 
 dollara, and not flvn hundi-Md thoiittand dollars, muMt dopoait flftoon 
 thoiwand liollarH in four {xsr cont. State hondB, or currency, and t«m 
 thousand dollarB in United StutcH bonds. Each company whoso 
 capital excewls five hundretl thousand dollars, must dn|)OHit twenty 
 thousand dollars in four {wr cont. State bo ads, or currency, and five 
 thousand dollars in Unitfld States bonds. 
 
 Fce»» — VoT iB»\iing each license ni\d receiving statement, five 
 dollars, to auditor. 
 
 To clerk of chancery court, for filing each statfiment, fifty cents. 
 
 Insuranco agents are required to {)ay a privilege tax of from fif- 
 teen dollars to forty dollars. The forty dollars tax is good for entire 
 State. 
 
 LicenneH and Taxes, — A tax on privileges shall be levied 
 as follows, to wit: on each fire insurance company doing business in 
 this State, one thousand dollars. On each life insuranco company, 
 seven hundred and fifty dollars. On each accident insuranco com- 
 pany, two hundred and fifty dollars. The city of Vicksburg is 
 empowered to assess a privilege tax of one hundred and twenty-five 
 dollars annually, upon each fire insurance company transacting 
 business in this city. Any company paying the sum of one hundred 
 dollars to the Firemen's Charitable Association of Vicksburg, is 
 exempted from paying the privilege tax to the city, and after one pay- 
 ment is not required to pay the same in any year succeeding one in 
 which its losses are more than its net cash receipts in the city. Other 
 cities and towns in the State having an organizad fire departtnent, 
 may also assess a privilege tax, but such tax shall bear the same pro- 
 
MISSOURI. 
 
 n 
 
 Minlly, ftnft with 
 
 )iv(i » lirenM in 
 
 by illinR a Wuml 
 M of twoiity-nvn 
 Unlitor of Ktich 
 . uu tbti ftruouiit 
 
 mtR Rhnll ho flind 
 
 if any iimurannff 
 tMct any buiinoM 
 p(mfK>N.i(t<l of at 
 capilHl, itiviwtw] 
 )rt^t^K<»H of rofti 
 is mortgaged. 
 
 ' whoHp capital 
 nrH, niURt dnpoHit 
 int. St«to bondn, 
 jd SlatoH bond«. 
 id fifty thoiuand 
 It dnposit flftoon 
 urronry, and t«in 
 company whoso 
 t dn|)OHit twitnty 
 UToncy, and five 
 
 ; Ntateniont, five 
 
 ?nt, fifty cents. 
 
 tax of from fif- 
 s good for entire 
 
 »H shall be levied 
 loing business in 
 uranco company, 
 t insurance coin- 
 of Vicksburg is 
 I and twonty-fivo 
 )any transacting 
 I of one hundred 
 if Vicksburg, is 
 ,nd after one pay- 
 ucceeding one in 
 1 the city. Other 
 fire departtnent, 
 ear the same pro- 
 
 portion to thA titx |t«imltt«l in Vicksbufff, an th« net pmniium 
 nKieipU of thw comiMsny in aaeh city or town Ji«ar to it« ».-<t pr.-iiiiuH, 
 rtecipta in VIckiilMirg, or Hhail not iMomHi nuih pruiwrtion. 
 
 Pftlftlth'H, — Kvery |Mir*<)u violating any of thn provinions of 
 law relating to inRiirMnf« Hhall, uiion conviction tb«rMof. in any ■:ourt 
 of noinp«»tMnt juri(Mj|ctU)n, b« (imtd (lv«! hundred <loilar«, and iinprnon- 
 niont in the <rounty jail not moru than twiilvn monthi, 
 
 AHMCaMMKNT INHDMANOB. 
 
 MifliiMiippi haM no unactnientH relating to aMoument compatiies. 
 
 MISSOURI. 
 
 (r^lilatur* rimM bUuuUllj. Next ••■■Ion, Jiinaary, imi.| 
 U. v. Em.khbk, Suptrintendi-nt 0/ (he Insurance Department, St. Looii 
 
 Every company desiring to transact busiiH'Hs in thia Htate, Iwfore 
 aUmiaaion Hhall (lie with the Suporintondtmt 
 
 A certitiod copy of its chartor, or act of incorporation. 
 
 A statemttnt, un<lor the oath of tlu; prosidont and secretary of the 
 company, showing its condition and affairs on tho preceding (irst day 
 of January. 
 
 A copy of the laKt annual report, if any was made in compliance 
 with any law of the State, or country, by which such company waa 
 incorporated. 
 
 A writton instrument, duly signed and sealed, authorizing the 
 Superintendent of the Insurance Department to acknowledge and 
 receive wsrvico of procfwa, and conHcnting that .service of procosH on 
 hire shall b«i taken and held to be an valid um if served upon the com- 
 pany, and in case such company Hliall cease to transact business in 
 this State, he shall be held to continue attorney of such company for 
 the service of process. 
 
 CertipCdteM find ^f/fM^w.-- Every company, previous to 
 transacting business in this Htate, shall procure from the Superintend- 
 ent a certificate, stating that such company has complied with the re^ 
 quiroments of law, and authorizing it to ilo business in this State, 
 
 A certified copy of such certificate shall be held by every agent or 
 solicitor doing business for the company within the State, and shall in 
 some convenient manner give the name of the agent or solicitor for 
 whbse use it is issued. Such certificate shall be annually renewed and 
 a copy of such renewal furnished each agent or solicitor. 
 
 Mjcam I nations and ImpatrmentH.— The Superintend- 
 ent may at any time examine the affairs and condition of any company 
 doing business in the State. Whenever it shall appear from such ex- 
 amination, or from the statements of the company, that the affairs of 
 
60 
 
 MISSOURI. 
 
 bs 
 m 
 
 i 
 
 i'ti'. 
 
 Sjl:i 
 
 any such company are in an unsound condition, or that its capital or 
 fund is impaired, or the Superintendent has reasonable cause to sus- 
 pect that the further continuance of the business of the said company 
 IS hazardous to the public or to those holding its policies, he may sus- 
 pend or revoke the certificate granted to the company and shall cause 
 notice thereof to be published in some newspaper published in St. 
 Louis. 
 
 Mre and Marine. — 'S^yery joint stock company shall pos- 
 Bess a paid-up capital stock of at least two hundred thousand dollars. 
 
 Annual statements shall be filed on the first day of January, 
 in each year, or within thirty days thereafter, showing the affairs 
 and condition of the company on the preceding thirty-first day of 
 
 December. v- . • 
 
 Missouri has a valued-policy law, and an anti-trust law which is 
 construed by the State ofiBcials to apply to insurance companies. 
 
 jjlfe, — Every stock company must possess an actual paid-up cap- 
 ital of one hundred thousand dollars, and every mutual company must 
 possess assets to the amount of one hundred thousand dollars. 
 
 Evary company must have on deposit with the proper officer of the 
 State where it is incorporated, for the security of all its policy-liolders, 
 one hundred thousand dollars in stocks and bonds of tho United 
 States, or of tho State where it is incorporated, or of this State, or 
 loaned on bonds or notes secured by mortgages of unencumbered real 
 estate, worth double the amount loaned, and must filw with the Super- 
 intendent a certificate under the hand and official seal of the officer 
 holding such deposit, certifying that ho holds in trust and on deposit 
 for the benefit of all policy-holaers o^. the company such stock and 
 securities, and stating their charh,ct.ev, and that he is satisfied they are 
 worth one hundred thousand dollars. 
 
 Annual statements must be filed on the first day of Ja,nuary in 
 each year, or within thirty days thereafter, showing the condition of the 
 company on the preceding thirty-first day of December. 
 
 Life insurance companies must not do any other kind of business 
 except the takitg of life risks, issuing endowment policies, and annuity 
 
 bonds. 
 
 Misrepresentations made upon procuring a policy of insurance 
 upon life shall not be deemed material or render the policy void, unless 
 the matter misrepresented shall actually contribute to the contingency 
 or event on which the policy is to become due and payable. 
 
 In suits upon life poHcies, nc defense based up ^n misrepresenta- 
 tions in obtaining the same shall be valid, unless the defendant com- 
 pany shall at or before the trial deposit in court, for the benefit of the 
 plaintiffs, the premiums received on such policy. 
 
 In suits upon life policies it shall be no defense that the insuted 
 committed suicide unless it shall be shown that the insured contem- 
 plated suicide at the time he made his application for the policy, and 
 any stipulation in the policy to the contrary shall be void. All policies 
 issued after August 1, 1879, by any company authorized to do busi- 
 nesf' in the State after the payment of two or more annual premiums 
 are not forfeitable for failure to pay premiums. Such policies are to 
 
MISSOURI. 
 
 it 
 
 hat its capital or 
 i\e cause to sus- 
 he said company 
 cies, he may sus- 
 f and shall cause 
 published in St. 
 
 upany shall pos- 
 3usand dollars, 
 ay of January, 
 iwing the affairs 
 lirty-firat day of 
 
 ist law which 
 lompanies. 
 
 IS 
 
 itual paid-up cap- 
 
 al company must 
 
 1 dollars. 
 
 aper oflicer of the 
 
 .ts policy- f I' >lder8, 
 
 of tho United 
 
 of this State, or 
 
 lencumbered real 
 
 b with the Super- 
 
 Bal of the officer 
 
 3t and on deposit 
 
 such stock and 
 
 satisfied they are 
 
 ly of January in 
 
 le condition of the 
 
 )er. 
 
 ■ kind of business 
 
 iicies, and annuity 
 
 icy of insurance 
 
 [jolicy void, unless 
 
 3 the contingency 
 
 jyable. 
 
 I yu misrepresenta- 
 
 e defendant com- 
 
 the benefit of the 
 
 e that the insuied 
 ', insured contem- 
 br the policy, and 
 roid. All policies 
 »rized to do busi- 
 annual premiums 
 ich policies are to 
 
 be carried for the full amount for such period as three-fourths the net 
 value of tho policy calculated at four and one-haif per cent., less any 
 indebtedness to the company for premiums on said policy by note or 
 otherwise will pay for taken as a net single premium. The holder of 
 such policy may within sixty days demand a paid-up policy. 
 
 Accident and Plate Glass insurance companies must have 
 a paid-up capital of one hundred thousand dollars. 
 
 foreign. — Every life insurance company must either deptsit in 
 this State or in some one of the other States of the United States, for 
 the benefit of the policy-holders of such company, citizens or residents 
 of the United States, one hundred thousand dollars in safe stocks or 
 securities. 
 
 Companies other than life (except plate glass and accident com- 
 panies), shall have on deposit not less than two hundred thousand 
 dollars. 
 
 When such deposit is made in some other State, a certificate shall 
 be filed with the Superintendent, under the hand and official seal of 
 the officer holding such deposit, certifying that he holds in trust and 
 on deposit for the benefit of all the policy-holders of such company, 
 citizens or residents of the United States, such stocks or securities, 
 and stating the kind and amount of each, and that he is satisfied they 
 are worth two hundred thousand dollars. 
 
 Annual statements must be filed on the first day of January in each 
 year, or within sixty days thereafter, showing the affairs and condi- 
 tion of the United States branch of the company on the preceding 
 thirty-first aay of December. Deposits are treated as capital when 
 made for the benefit of all policy-holders in the United Stateo. Home 
 office statements of foreign companies shall be filed at such times as 
 may be required by the Superintendent of Insurance. 
 
 Licenses* — The agen*. or agents of any insurance company 
 doing business in any city in this State having a population of more 
 than one hundred thousand shall, on or before the first day of Febru- 
 ary in each year, pay to the collector of such city the sum of one 
 hundred dollars, and such collected shall issue a license to such agent 
 or agents. 
 
 JB'ees, — For filing statement and certified copy of charter, fiftv 
 dollars. ^ 
 
 B'or filing annual statement, thirty dollars. 
 
 F'or filing supplementary statements, ten dollars. 
 
 B'or .fihng any other paper required to be filed, ten dollars. 
 
 for agent's certificate, two dollars. 
 
 For furnishing copies of records, papers, or documents on file, 
 twenty cents per folio. 
 
 For affixing seal of office, one dollar. 
 
 For valuation of policies, ten dollars for each million dollars of 
 insurance, or fractional part thereof. 
 
 Reciprocal provision. 
 
 In case the expenses of the department shall exceed the amount 
 of fees collected, the Superintendent shall annually assess, upon all 
 11 
 
§3 
 
 MISSOURI. 
 
 m 
 
 companies doing buainosa in this Stato, a sum equal to such excess. 
 Such asaessmonts shall be made in proportion to the relative amouata 
 of the assets of each company. 
 
 Taxes.— Every company shall annually on or before the thirty 
 first day of January, make a sworn return to the Superintendent of all 
 premiums received by the company in cash or notes in each county of 
 the State and in the city of St. Louis, during the year ending on the 
 thirty-first day of December preceding, and the amount of return pre- 
 miums and losses actually paid during the year in this State, and shall • 
 pay a tax of one per cent, upon tlie excess of such premiums over such 
 losses and return premiums. This tax shall be paid to the State Treas- 
 urer on or before the first day of April following. 
 
 Every company shall also, on or before the first day of February 
 in each year, deposit with the Assessor of the county and of the city or 
 town in which any such office or agency of such company is located, a 
 statement, veufied by the" oath of the agent of such company, showing 
 the whole amount of premiums received in such county, city, or town, 
 deducting all return premiums and cash actually paid by such com- 
 pany for losses received in such county, city, or town during the year 
 ending on the first day of January preceding. Such premiums are 
 subject to the same taxes as other property in the county, city, or 
 town in which such office or agency is located. 
 
 Reciprocal provision. 
 
 Penalties.— Any agent neglecting to pay the fees or taxes prop- 
 erly assessed upon his company shall be subject to a fine of two hun- 
 dred dollars. 
 
 Any company neglecting to pay any fees or taxes for ten days 
 after demand, made in writing, shall be liable to pay double the 
 amount thereof. . , i • 
 
 Any violation of the provisions of law shall subject the party vio- 
 lating to a penalty of not less than fifty nor more than five hundred 
 
 dollars. « * 
 
 Agents doing business without authority are subject to a hne oi 
 not less than ten, nor more than one hundred dollars, or to imprison- 
 ment not less than ten days, nor more than six months, or both. 
 
 ■*h 
 
 ASSESSMENT INSURANCE. 
 
 Admission.— A. company applying for admission shall deposit 
 with the superintendent of the insurance department, a certified copy 
 of its charter, a statement under oath of its president and ^cretary 
 in the form by the said superintendent required, of its business for 
 the preceding year ; a certificate under oath of its president and secre- 
 tary that it is paying, and for the twelve months next preceding has 
 paid, the maximum amount named in its policies or certificates in full ; 
 a certificate from the proper authority in its home State that corpora- 
 tions of this State engaged according to the provisions of this act in 
 life or casualty insurance on the assessment plan are legally entitled 
 to do business in such State ; a copy of its policy or certificate, and 
 application, which must show that benefits are in the nain provided 
 
 ^ -jm-i^.^f^^ f f^* . ^ t< " - . m -J : t^m -F f 9 *^^m. < !*li. M»\ - 
 
MONTANA. 
 
 88 
 
 to such excess, 
 ilative amouQts 
 
 jfore the thirty- 
 •intendent of all 
 I each county of 
 r ending on the 
 It of return pre- 
 State, and shall • 
 niums over such 
 I the State Treaa- 
 
 ay of February 
 ,nd of the city or 
 any is located, a 
 mpany, showing 
 by, city, or town, 
 id by such com- 
 
 during the year 
 li premiums are 
 
 county, city, or 
 
 108 or taxes prop- 
 flne of two hun- 
 
 :es for ten days 
 pay double the 
 
 ect the party vio- 
 iian five hundred 
 
 )ject to a fine of 
 , or to imprison- 
 s, or both. 
 
 ision shall deposit 
 ;, a certified copy 
 int and secretary 
 E its business for 
 esident and secre- 
 ixt preceding has 
 sertificates in full ; 
 bate that corpora- 
 ons of this act in 
 re legally entitled 
 or certificate, and 
 tie nain provided 
 
 for by assessraonts upon policy or certificate holders, evidence satisfac- 
 tory to the said superintendent that the corporation accumulates a 
 fund equal in amount to the maximum policy or cortificato which it 
 issues, that such accumulation is permitted by the law of its incopo ra- 
 tion and is a trust for the benefit of policy or certificate holders only 
 and is securely invested. The authority of such corporation to do 
 business in this State shall bo revolted whenever the said superintend- 
 ent, on investigation, is satisfied that such corporation is not paying 
 the maximum amount named in its policies or certificates in full. 
 
 Policies or certificates must not be issued upon persons over sixty 
 years of age, nor without the beneficiaries have an insurable interest, 
 nor shall any endowments be issued, and all calls for payments by cer- 
 tificate holders must distinctly state the purposes of the same. 
 
 Annual Statements — Shall be made on or before the first of 
 February, of the business for the year ending December 3l8t. 
 
 The superintendent has power to visit and examine the same as in 
 other insurance companies. 
 
 Fees. — The fees for issuing certificates of authority to do busi- 
 ness, and for filing annual statements, shall in each of aforesaid 
 cases be the sura of twenty-five dollars, and the fees and costs of ex- 
 amination shall bo the same and paid by the company in like manner as 
 now provided by law for the examination of life insurance companies. 
 
 Penalties. — For doing business without authority, not exceed- 
 ing five hundred dollars and imprisonment. 
 
 False statements regarding proofs of death sworn to by agents or 
 medical examiners is made perjury. 
 
 MONTANA.* 
 
 Admission. — Every company must possess an actual capital of 
 two hundred thousand dollars, exclusive of special deposits ; shall ap- 
 point one attorney in each county in which agencies are established, 
 resident at the county seat, and shall file with the Territorial Auditor 
 a written instrument, duly signed and sealed, authorizing such attorney 
 of such company to acknowledge service of process, consenting that 
 such service of process, mesne, or final upon such attorney, shall be 
 taken and held as valid as if served upon the company, and waiving 
 all claims of right or error by reason of such acknowledgment of ser- 
 vice, and also a certified copy of its charter or deed of settlement, 
 together with a statement, under the oath of the president or vice-presi- 
 dent, or other chief ofiBcer, and the secretary of the company for which 
 they may act, stating the name of the company and the place where 
 located, the amount of its capital, with a detailed statement of the con- 
 dition of the company. Such statement shall also show that said com- 
 
 * There bas bean no chtnge in the Uws of Montsoa as yet, and we are not advised of any 
 change in Andltor. Legislature is in session. 
 
 I 'TWTTii i OTnmaQa i 
 
84 
 
 MONTANA. 
 
 pany, if organized without the ITnitfld fltates of America, has deposited 
 in some one of the United States or Territories a sum not less than one 
 
 hundred thousand dollars for the special benefit or security of the 
 assured in the United States ; and shall file also a copy of the last an- 
 nual report, if any, made under any law of the State, territory, or 
 foreign country by which such company was incorporated. 
 
 Certiflrates and Aaentn.— '^f ery company complying with 
 the requireuionts of law sliall receive a certificate from the Auditor. 
 
 Agents must have certificate of authority from the Auditor. 
 Agents must, in all advertisements, publish the location of the com- 
 pany, and siiall not advertise any assets of a fire insurance company 
 not applicable to its losses, nor unpaid capital. Company must publish 
 Auditor's certificate once in two papers of general circulation, one of 
 which shall be published at the capital. 
 
 Fire and Life. — Annual statements must be filed with the 
 Auditor on the first day of January in each year, or within ninety 
 days thereafter, showing the condition of the company on the preced 
 ing thirty-first day of December. Blanks will be furnished by the 
 Auditor. 
 
 FMaminationa and, Impairments.— 'Y^^q Auditor, or 
 some one appointed by him, shall have power to examine companies. 
 No agent shall be allowed to transact business for any company whose 
 capital is impaired twenty per cent. 
 
 Fees, — To be paid to the Auditor. 
 
 For filing and examination of the first application of any company, 
 and issuing the certificate of license thereon, fifty dollars. 
 
 For filing each annual statement herein required, twenty-five dollars. 
 
 For each certificate of authority, two dollars. 
 
 For every copy of paper filed, ten cents per folio, and fifty ceiits 
 for certifying to the same, and aflGxing the seal of ofiBce thereto. 
 
 Reciprocal provision. For examinations, necessary expenses. 
 
 Penalties.— For failure to conform to, or for violation of laws, 
 a fine not to exceed one thousand dollars, and imprisonment not ex- 
 ceeding six months. 
 
 Taxes. — Bach and every insurance company transacting business 
 in this territory shall be taxed upon the excess of premiums received 
 over losses and ordinary expenses incurred within the territory during 
 the year previous to the year of listing in the county where the agent 
 conducts the business, properly proportioned by the company at the 
 same rate all other personal property is taxed, and the agent 8h»Ul 
 render the list, and be personally liable for the tax ; and if he refuses 
 to render the list, or to make affidavit that the same is correct to the 
 best of his knowledge and belief, the amount may be assessed accord- 
 ing to the best knowledge and discretion of the assessor, and the county 
 board of equalization may, at their discretion, add fifty per cent, to the 
 amount returned by the assessor. Insurance companies shall be sub 
 ject to no other taxation under the laws of this territory, except tft.ies 
 on real estate, and the feas imposed as above. 
 
 » !»1! llfi!<^aigSyA.-aWSi»l!Jt&«!.taMilSBirwJ:U 
 
 JL 
 
NEBRASKA. 
 
 85 
 
 a, has deposited 
 ot less than one 
 security of the 
 r of the last an- 
 te, territory, or 
 ted. 
 
 complying with 
 the Auditor. 
 1 tho Auditor, 
 ion of the com- 
 irance company 
 ny must publish 
 'culation, one of 
 
 filed with the 
 r within ninety 
 jr on the preced 
 irnished by the 
 
 rhe Auditor, or 
 nine companies, 
 company whose 
 
 at any company, 
 
 Eirs. 
 
 enty-five dollars. 
 
 , and fifty cents 
 B thereto, 
 y expenses. 
 
 iolation of laws, 
 sonment not ex- 
 
 isacting business 
 
 emiums received 
 
 territory during 
 
 where the agent 
 
 company at the 
 
 the agent shall 
 
 ,nd if he refuses 
 
 is correct to the 
 
 assessed accord- 
 
 r, and the county 
 
 y per cent, to the 
 
 ies shall be sub 
 
 jry, except tft.;e8 
 
 ASSESSMENT INSURANCE. 
 
 AfJmiftHion.— The papers for admission must show that the com- 
 pany ai)plying has deposited not less than fifty thousand dollars with 
 the proper authorities of its own State as a guarantee fund for tha 
 security of its members. It must also deposit with the Auditor a cer- 
 tified copy of Its charter or articles of incorporation, a copy of its state- 
 ment of busmoss for the preceding year, sworn to by its president and 
 secretary or hJce officer, showing a detailed account of expenses and 
 income, the amount of life indemnity in force, its assets and liabilities. 
 xn detail, number of members, and a certificate, sworn to by the presi- 
 dent and secretary, or like officers, setting forth that an ordinary as^esH- 
 ment upon its members is sufficient to pay its maximum certificate of 
 membership to the full limit named therein ; a cop-r of its policy or 
 certificate of membership, application and by-laws, which must show 
 that death losses 3 in the main provided for by assessments upon the 
 surviving members ; and it shall legally designate a person or agent 
 residing m the territory to receive service of process for said corpora- 
 tion. Also that benefits are only paid to persons having an insurable 
 interest. ° 
 
 Annual Statements must ho filed on or before March Ist in 
 each year, on blanks furnished by Auditor. 
 
 Fees.— For filing preliminary papers, one hundred dollars. 
 For fihng annual statements, twenty-five dollars. 
 
 Penalties.— Agents, for doing business for unauthorized com- 
 panies, are subject to a fine not exceeding one thousand dollars or 
 imprisonment not exceeding ono year, or both, ' 
 
 NEBRASKA. 
 
 [LeglBtatnre meeto biennially. Next seseion, January 1, 1891.] 
 T. H. Benton, Auditor of Public Accounts, Lincoln. 
 
 A 'J,}-: * i'ision. ~ Every company desiring to transact business in 
 this S it I. fore admission shall file w^th the Auditor 
 
 A '-ertijad copy of its charter, act of incorporation, or deed of 
 settlemP'it 
 
 A statement under the oath of the president, vice-president, or 
 other chief officer and secretary of the company, showing its name, 
 location, capital, and also its assets aad liabilities, in detail. 
 
 A copy of the last annual roport, if any .:iade, under any law of 
 the State by which the company was incorporated. 
 
 E'-ery life company shall also file a written instrument under the 
 seal of the company, signed by the president and secretary, authoriz- 
 ing an agent of the company to acknowledge service of process, and 
 consanting that service of process upon such agent shall be taken and 
 
 1 
 
86 
 
 NEBRASKA. 
 
 held to be as valifi as if Bcrved on the company, and waiving all claims 
 of error by reason of euch service. 
 
 Tm-, inarino, and other companies shall appoint an attorney resi- 
 dent at thp county seat of each county in which the company shall 
 establish agencies, and shall file with the Auditor a written instrument 
 authorizing such attorney to acknowledge service of process for and 
 in behalf of the company, and consenting that service of process upon 
 such attorney shall be taken and hold to be as valid as if served upon 
 the con i['Hny, and waiving all claim of error by reason of such service. 
 
 Cevilflcatea and AffentH. — Evory company (except a life 
 company) shall procure a certificate from the Auditor, showing that 
 the company has complied with all the requirements of law relating 
 to insnrance, and such certificates shall be published once, in two 
 rit; vspapers of general circulation, one of which newspapers shall be 
 puL'lished at -tw capital of the State. 
 
 The agent of every life company shall procure from the Auditor a 
 certificate, and file the same, together with a copy of the statement 
 filed with the Auditor, in the office of the clerk of the county in which 
 he or they may debire to establish an agency for any such company. 
 Such statement and certificate shall be published one week in one 
 daily, and four weeks in one weekly newspaper, published in the 
 county in which such agency is established ; if no daily paper be pub- 
 lished in such county, then such publication shall be sufficient if made 
 in one weekly newspaper as aforesaid; if no weekly newspaper be 
 published in the county, then such publication shall be made in one 
 weekly newspaper of this State, of most general circulation in such 
 county. 
 
 Every .^gent before transacting business shall procure from the 
 Auditor a certificate of authority. 
 
 All certificates shall be renewed annually, and shall annually be 
 filed and published as aforesaid. 
 
 Every agent of any company, in all advertisements of such agency, 
 shall publish the location of the company, giving the name of the city, 
 town, or village in which the company is located, and of the State or 
 government under the laws of which it is organized. 
 
 Examinations and Impairments.— T^he Auditor, when- 
 ever he shall deem it expedient, may examine into the condition and 
 affairs of any company doing business in this State. Whenever the 
 Auditor shall deem it for the best interest of the public, he shall pub- 
 lish the result of such examination in one or more papers of this 
 State. If it shall appear to the satisfaction of the Auditor that the 
 affairs of any such company are in an unsound condition, he shall 
 revoke the certificate granted in behalf of such company; and shall 
 cause the notification thereof to be published in some nevspap-ir of 
 general <;irculation published at the State capital. 
 
 No fire or marine cbm^any can transact business in this State if, 
 after the company is charged with its proper liabilities and the sum 
 requisite for re-insurance ascertained as required by law, its capital 
 stock is impaired to the extent of twenty per cent, thereof. 
 
 I J- 
 
 •■■-:va»i 
 
NEBRASKA. 
 
 87 
 
 ,iving all claims 
 
 1 attorney resi- 
 company shall 
 tton instrument 
 process for and 
 of procesg upon 
 ; if served upon 
 of such service. 
 
 y (except a life 
 ir, showing that 
 of law relating 
 d once, in two 
 tpapers shall be 
 
 n the Auditor a 
 if the statement 
 county in which 
 such company, 
 le week in one 
 lublished in the 
 ly pajier be pub- 
 ufficient if made 
 y newspaper be 
 be made in one 
 culation in such 
 
 rocure from the 
 
 hall annually be 
 
 I of such agency, 
 
 lame of the city, 
 
 of the State or 
 
 ie Auditor, when- 
 ie condition and 
 Whenever the 
 )lic, he shall pub- 
 e papers of this 
 Auditor that the 
 ndition, he shall 
 mpany; and shall 
 one nevspap'ir of 
 
 in this State if, 
 ;ies and the sum 
 Y law, its capital 
 \ereof. 
 
 I J. 
 
 Fire and Marine, — Ever" company must possess an actual 
 paid-up capital of two hundred thousand dollars, exclusive of a»y 
 •saets deposited in any other State or territory, for the special benolit 
 or security of the insured therein. 
 
 Every such company must also have on deposit, in some one of tfaw 
 United States or territories, a sum not less than twenty-five thousand 
 dollars, for the special benefit and security of the insured therein. 
 
 Annual statements shall be filed on the first day of January in each 
 year, or within thirty dtiys thereafter, showing the condition and 
 business of the company on the preceding thirty-first day of December. 
 
 The re-insurance fund shall bo computed at forty per cent, of the 
 premiums on all unexpired risks. 
 
 Nebraska has a valued-policy law. 
 
 Life. — Every company must possess assets, properly invested, to 
 the amount of one hundred thousand dollars. 
 
 Annual statements shall be filed in the month of January in each 
 year, showing the condition and affairs of the company on the preced- 
 ing thirty-first day of December. 
 
 If any such company has made any deposits in any other State or 
 territory for the exclusive benefit of its policy-holders therein, then 
 such company shall, on the first day of January, annually, return 
 under oath to the Auditor a statement showing the amount of pre- 
 miums received in this State during the year preceding, and shall 
 deposit with the Auditor, for the benefit of the insured in this State, 
 five per cent, of such premiums, either in money or in stocks, or bonds, 
 secured by mortgage of property in this State, and shall continue 
 such deposit from year to year, until the sum of forty thousand dollars 
 is deposited. 
 
 Foreign. — ^vetj life company shall furnish evidence, to the 
 satisfaction of the Auditor, that it has invested in the stocks of some 
 one or more of the States of this Union, or of the United States, the 
 amount of one hundred thousand dollars, and that such stocks are 
 held by citizens of the United States, or in bonds secured by mort- 
 gages of real estate situated in the United States, fully securing the 
 amount for which the same is mortgaged, or bonds of cities of the 
 United States, the aggregate market value of the investment of the 
 company in which shall not be less than one hundred thousand dollars. 
 
 Deposits. — (See Life and Foreign). 
 
 Fees. — For filing and examination of the first application of any 
 company, and issuing the certificate or license thereon, fifty dollars. 
 
 For filing each annual statement, twenty dollars. 
 
 For each certificate of authority, two dollars. 
 
 For every copy of any paper on file, ten cents per folio, and fifty 
 cents for certifying the same and aflSxing i he seal of office thereto. 
 
 For examining companies, the actual e: penses incurred. 
 
 Reciprocal provision. 
 
 Taxes. — Each and every insurance company transacting busi- 
 ness in this State shall be taxed upon the excess of premiums received 
 
r 
 
 SI 
 
 NEVADA. 
 
 over losses, and ordinary •xponsos incurred within tho Stato ilurmg 
 th« yoar previoufl to the year of listings in tho county whery tlin aKont 
 conaucts tlie business, proporly proportioned by tho company at the 
 same rate that other personal projjerty is taxed, and the agent shall 
 render tho list and be [jersonally liable for the tax; and if he rofuHes 
 to render the list, or to make atlldavit that the same is correct, the 
 amount may bo assessed according to the best knowledge and dis- 
 cretion of the assessor. Insurance companies shall Iw subject to no 
 other tax, foes, or licenses under tho laws of this State except taxes 
 on real estate and tho foes imposed as above. 
 
 Tlie legislature of 1S89 passed a law which provides a tax of two 
 per cent, on premiums for fire department purposes in every city or 
 town having organized departments properly equipped, and com[.'clii 
 agents to execute a bond that they will pay these taxes. 
 
 ASSBBBMENT INBURANOB. 
 
 Nebraska has no law regulating tho admission of assessment com- 
 panies other than secret benevolent societies. All others must comply 
 with the insurance laws. 
 
 NEVADA. 
 
 L«g(il»ture meeti biennUiUr. N«zt rasilon, Jannur 19, 1891.] 
 
 J. F. Hallook, Stale Vontroller, Carbon City. 
 
 Admiasion. — Every company must possess a paid-up cash cap- 
 ital, unimpaired, of two hundred thousand dollars, and must file with 
 the Controller — 
 
 A certificate showing the possession of such capital. 
 
 A power of attorney showing the company to be a duly organized 
 insurer or corporation, the principal place of business of tho company 
 and its principal place of business for the Pacific coast, and authoriz. 
 ing a citizen and resident of the State to act as its attorney, upon 
 whom all legal process may be served. In case of death, or remoVal 
 of such person from the State, legal service of process against such 
 company may be made upon the Controller. 
 
 The Controller may require the filing of a certified copy of the 
 charter of such company. 
 
 Annual Statementa. — 'SiveTy insurance company, of what, 
 ever kind or character, and every mutual life or assessment association, 
 except charitable secret societies issuing benefits to its own members 
 only, shall annually, during the month of January, file in the oflSce of 
 the State Controller a statement, signed and sworn to by its president 
 and secretary, which shall exhibit its financial condition on the thirty- 
 first day of December of the previous year, and shall include a detailed 
 statement of its assets and liabilities, the amount and character of its busi- 
 ness transacted and moneys received and expended during that year, spe- 
 cifying particularly its business transacted in Nevada, and such other 
 
 ,. mmmusmmmim ' M'i.mA '. — 
 
 "^Jii 
 
NEVADA. 
 
 HI) 
 
 \\'^ Rtata (luring 
 whery tlio aKont 
 company at the 
 tlin ngonl Bhull 
 nd it ho rofum-H 
 in correct, the 
 wlodgo and dis- 
 M subject to no 
 ate except taxes 
 
 ies a tax of two 
 in every city or 
 eri, and comi-'cld 
 
 )8. 
 
 aflseanment com- 
 lers must comply 
 
 1, 1891.] 
 
 City. 
 
 paid-up cash cap- 
 nd must file with 
 
 tal. 
 
 a duly organized 
 9 of the company 
 ast, and authoriz. 
 ts attorney, upon 
 ieath, or remoVal 
 cese against such 
 
 iified copy of the 
 
 smpany, of what. 
 3ment association, 
 its own members 
 lie in the oflSce of 
 ,0 by its president 
 tion on the thirty- 
 include a detailed 
 aracter of its busi- 
 ring that year, spe- 
 a, and suck other 
 
 mformation h« the State Controller may deem necessary to elicit a com- 
 plete and accurate exhibit of itH condition and tranHactioiiB, and in 
 Huch form aH ho may proscrilw!. Thn unnual statomont of a company 
 of u foreign country Hhall orabracu only its buMJuoHH and cDtidition in 
 the United .StatoH, and Hhull bo subscribed and sworn to by its rosi. 
 dent manager or principal representative in charge of its American 
 business. The transaction of any new business by any company, or 
 Its agents, after noglo«;l to fllo a statement ia the manner heroin pro- 
 vided, shall be unlawful. 
 
 Certt/if'at('M.--EvQrycompa.ny, before transacting business in 
 the State, must procure from the Controller a cerliflcato of authority. 
 
 BxamlnattonH and Impah'tnentM. — Upon the written 
 representation of three citizens, and the belief of the Controller, that 
 any company hat. less than two hundred thousand dollars paid-up un- 
 impaired cash capital, ho shall inaice investigation, or require proof of 
 the financial condition of any company. The certificate of the insur- 
 ance officer of any State having an insurance department shall bo suf- 
 ficient evidence of the possession of said capital unimpaired, if such 
 certificate on request is not furnished in sixty days, the Controller may 
 revoke the certificate of such company to do business in this State. 
 
 I/tfe. — The requirement of capital paid up shall not apply to 
 mutual life insurance companies having assets to the amount of one 
 inillion dollars or more. Any company having outstanding policies in 
 this State may appoint agents solely to collect premiums, if it shall ap- 
 point an attorney and file such appointment with the Controller. The 
 Controller will then issue a certificate authorizing agents to make such 
 collection. 
 
 Foreif/n, — Company must have invested or deposited in the 
 United States, for benefit of policy-holders therein, two hundred thou- 
 sand dollars in excess of its liabilities in the United States. 
 
 Fire. — In case of total loss, if the amount thereof is ascertained 
 to be less than the amount insured, the insurer shall return to the in- 
 sured the unearned premium for the excess of insurance over loss. 
 
 License and Fees. 
 
 license one hundred dollars. 
 
 For filing power of attorney and issuing certificate, five dollars. 
 
 PenalUes. — Any company that neglects to make and file its 
 annual statement in the form and within the time provided shall for- 
 feit one hundred dollars for each day's neglect, and upon notice by 
 the State Controller to that effect, its authority to do new buciness shall 
 cease while such default continues. For willfully making a false an- 
 nual or other statement it is required by law to make, an insurance 
 company and the persons making oath to or subscribing the same shall 
 severally be punished by fine of not less than five hjindred nor more 
 than five thousand dollars. 
 
 Id 
 
 • Each company must pay for an annual 
 
I 
 
 90 
 
 stvr UAMrsmiiK. 
 
 AHMKMHMKNT INHIIHANOR, 
 
 AdmiMMlon, — Mutual lift, midowiuont and a<K'!idonl Miocia- 
 tions, condiictod wholly on ih« iMwimHtnniit. pUii, iluly IncorporattKl ftiid 
 ofKaiiiwid, hIihII not be riMiuirml l.o malco ii nhowin^ of Ott|)itttl stock, 
 but shull lio pormiltod to do buHiiioHs in tliiH Statu upon tlio following 
 condilioiiH only: Thoy mIuiII oach pay into tho Treasury of tli« State 
 under the dirccaion and to tho saiisfaotion of the Statn Controller, the 
 8um of two hiuidred dollarH [wr annum; u\m\ the payment of wiid Hum 
 the State Controller Hliall isHUO to Huch life aHSociation a licetmo, duly 
 verified under his hand and attottted by W\h Heal of olllce authorizing 
 such (iHMociation to do buHuioHS in this State for the period of one year 
 from tho date thereof, and Hubjo:;t to tho provisions of an Act entitled 
 "An Act to liconMe and regulate insurance buniness in this State," 
 approved February 23, 18HI, except so far m in thi8 Act sijecial pro- 
 vision is made. 
 
 NEW HAMPSHIRE. 
 
 [LagtiUlnre nie«U bknnUlly. N«xt iiviiiilon, ITInl Wadnetday of .linuary, 1H9I.] 
 Hknuy H. Husk, Insurance Comtnisatoner, Concord. 
 
 AilmlMtilon, — Every company desiring to do business in this 
 State, before admission must file with the Commissioner — 
 
 A certified copy of its charter and by-laws. 
 
 A statement under the oath of tho president and secretary, showing 
 the condition and affairs of the company. 
 
 Every such company heretofore admitted to do business in this 
 State prior to March first, 1876, and every company applying for ad- 
 mission, shall file with the liisurance Commissioner a written stipula- 
 tion, duly authenticated by the company, agreeing that any legal pro- 
 cess affecting the company served on the Insurance Commissioner for 
 the time being shall have the same effect as if served personally on 
 the company within this State. When process is served on the Com 
 missioner ho shall make a memorandum of the fact and inform the 
 company by letter addressed to its principal office in this country, and 
 shall on the next day forward the copy of process served upon him to 
 tho company. 
 
 If any company neglect to pay any final judgment against it for 
 thirty days after demand is made for the same upon the attorney of 
 the company, the Commissioner shall suspend the business of the com- 
 pany in this State until such judgment is paid. 
 
 Certtfieate» and Affents. — Every comp&ny, before doing 
 business in this State, shall receive from the Commissioner a license, 
 which shall expire on the first day of next April, and shall be renewed 
 on said day and annually thereafter. 
 
 Every agent, before doing business for any company, must file with 
 the Commissioner a certificate from the company, or its general agent, 
 authorizing him to act as such agent and receive from the Commis- 
 
 »j4i'liiayt»^.VJtiJ#ittti4iMlittiMfeS)l..i«Ut!l-- 
 
inourporatod tuA 
 of CH[)ital atock, 
 on tho following 
 iiiry of tho Htato 
 tn Controllor, tho 
 in<tt\tof Miiid HUin 
 )ii a licutmrt, duly 
 otllco uuthoriziiig 
 uriod of Olio yoar 
 if an Act ontitlod 
 8 in thin Htato," 
 7\ct specittl pro- 
 
 f Januarr, 1H91.] 
 L'ONOORD. 
 
 i business in this 
 •ner — 
 
 floretary, showing 
 
 I business in this 
 f applying for ad- 
 a written stipula- 
 mt any legal pro- 
 Comtnissioner for 
 i/od personally on 
 rvod on the (3om- 
 :t and inform the 
 this country, and 
 irved upon him to 
 
 Bnt against it for 
 »n the attorney of 
 fiiness of the com- 
 
 my, before doing 
 lissioner a license, 
 1 shall be renewed 
 
 my, must file with 
 ■ its general agent, 
 !rom the Commis- 
 
 NEW IlAMPSniRR. 
 
 91 
 
 aionor a Uconw, which Hhall eontinun in foro«» until the first day of the 
 next April, and nhatt bo ronewod on sfiid day and iinnuaiiy thoroaft^-r, 
 upon f '"» liiirig liy miicIi agtuit of his cortilioatu of appointment oa »for«= 
 said. ^"nta mumt bo nwidcuta of tlm Htato. 
 
 Any {)oraon who nolicits insurant on bolialf <if any life ln»iuran<'« 
 company, ortrariMmits 'or any porson other than himwolf an application 
 for a policy of lifo insurance to or from such company, or offurs or 
 aMrtuinos to act in tho negotiation of such insurance, shall be deemed 
 a life insurance agont within tho intent of the laws of New {lamp- 
 shire, and shall become thereby liable to all the duties, requiniliofjis, 
 liabilities, and penalties to which an agent of such life insurance com- 
 pany is subjec^t. 
 
 Any lifo insurance agent who acta for a person other than himself 
 in negotiating for a contract of insurance by a life insurance company 
 shall, for the purpose of receiving the premium therefor, be hold to be 
 the company's agent, whatever conditions r)r Htipulatioria may bo con- 
 tained in tho policy or contract; and such agent, knowingly procurmg 
 by fraudulent representations, payment, or an obligation for tho pay- 
 ment of a premium of lifo insurance, shall be punished by fine of not 
 more than five hundred dollars, or imprisonment for not more than 
 ono year. 
 
 ExmntnaftmiH and rmtmlrptt^HfH. — Tho Commis- 
 sioner may at any time examine into the condition of any foreign in. 
 Burance company doing business in this State. If, in his opinion, such 
 company is in an unsound or failing condition, he shull revoke all 
 licenses granted to such compuny anO its agents by written notice to 
 the company and publication thereof in ono newspaper published at 
 Concord and ono at Manchester, having each the largest circulation in 
 this State from those places. 
 
 No mutual company can do business in this State if its assets are 
 not equal to its outstanding liabilities and re-insurance reserve, calcu- 
 lated as required by law. 
 
 Fire and Marine, — Every stock company must possess a 
 paid-up capital of two hundred thousand dollars, and every mutual 
 company assets readily convertible into cash, amounting to two hun- 
 dred thousand dollars. 
 
 Annual statements shall be filed on or before tho first day of Feb- 
 ruary in each yoar, showing the affairs and condition of tho company 
 on the preceding thirty-first day of December. 
 
 The re-insurance fund is calculated at fifty per cent, of premiums 
 on unexpired fire risks, and the whole premium on unexpired marine 
 risks. 
 
 All losses on fire risks shall bo adjusted within fifteen days after 
 notice thereof. 
 
 If any company has determined to rebuild or repair any premises 
 destroyed or damaged by fire, such company shall commence within 
 twenty days after such adjustment and prosecute the work with all 
 reasonable diligence until completed. If any company neglect to ad- 
 just any such loss, or rebuild or repair the premises within the time 
 
NRW IIAMI'HUIHK 
 
 I 
 
 limited, th« pnrton innurod m»y rnbiiilil «»r rujmir llm wiiue at ihn on 
 mn»t\ of thd compuny, not excnuditig i\w amount inmireil. 
 
 All |X)licioi written In Now ll«iin>.xliirn an- Hiihjmt to it* vrIuimI- 
 ;)ollcy l»w. Com|mni«« entering th« Stalo aro proliibit.icl from i-oni 
 J)itiinK to j(overn or control ratus; thuy inimt writ** a utiincJard (xtlicy 
 jirt^HcnluKl by Inw, and warraiilind arit inailo rcpnwontationii niernly, 
 and their untrutli tnuHt contrilmto to the low to void the jtollcy. 
 
 fjf'f.,— Kvury company nli»ll [(omnmii aiwotH to the amount of two 
 liuuilrod llioiiHftnd dollatx. 
 
 Annual Htatemontii Hhall \w lllod on or boforn the llrNi, day of Feb- 
 ruary in each year, showing the condition of the civuipauy on the pre- 
 ceding thirtyflrHt day of Dncomlxsr. 
 
 Tho promiunj roBorvo shall be aHoortainftd u|mmi the basin of the 
 Actuaries' Table of Mortality, with interest at four ixir eont. per 
 annum. 
 
 f'^^.j^,,- For filing copy of charter, tw«*nty-flv« dollars. 
 For (lling statenuint, (Ifteen dollars. 
 For licimse to company, five dollars. 
 For llcons* to agents, two dollars. 
 
 ToJi'fH, — Every company ahall, on or before the first day of Feb- 
 ruary ill each y«'ar, make to the t •ommiKsioncr a statomoitl under the 
 oath of the proHident and secretary, nhowing the grosH amount of pre- 
 miums received on property located and pel sons n-sident in the 8tate 
 for the year ending on the preceding thirtyflrst day of DecomlMir. 
 The Commissioner shall, on or before the first day of April in each 
 yflar, assess a ta.x of one per cent, upon such premiums, and shall give 
 notice of the amount thereof to mch company. The amount of such 
 tax shall be paid to the SUte Treasurer within one mouth after such 
 notice. 
 
 PeHHltfeH.— A.ny violation of any of the laws relating to insur- 
 ance shall Bubjoct the oflonder to a penalty not exceeding two thousand 
 dollars for each offense. 
 
 Fire insurance agents acting without license, or for unauthorized 
 companies, are subject to a penalty of one hundred dollars for each 
 
 offense. 
 
 Any person who shall assume to act as an agent of any lire insur- 
 ance company without license therefor as provided by law, or who 
 shall act in any manner in the negotiation of unlawful insurance with 
 a foreign life insurance company not admitted to do businosa in this 
 State, or who, as principal or agent, shall violate any provision of the 
 laws of this State in regard to the negotiation or effecting of contracts 
 of life insurance, shall be punished by a fine of not more than five 
 hundred dollars for each offense. 
 
 ABSkSBMENT INBDRANOE. 
 
 New Hampahire has no laws ragulating admission of assessment' 
 companies as such. They mmt comply with life insurance laws. 
 
 ' '^i.-.r,jmm^' ! sm<f'Mmmj*>.iJ '' 
 
Mama at thn •»• 
 rm\. 
 
 it to iU vhIiiihI- 
 )itiHl from fom 
 atanilurd policy 
 ritHtionH mernly, 
 Lho (toHcy. 
 
 nmouiit of two 
 
 lirNl (lay of Fob- 
 [lauy on the pro- 
 
 thft huiH of thn 
 ir (Mir cunt, pur 
 
 Uan. 
 
 ilrHt (Jay of Feb- 
 enicitt under t.h«i 
 H amount of pre- 
 (lent in tho fitato 
 %y of December, 
 r)f April in each 
 [18, and Bhall give 
 ) amount of such 
 uonth after Bucb 
 
 relating to insur- 
 iiug two thousand 
 
 for unauthorized 
 dollars for each 
 
 of any life insur- 
 by law, or who 
 ul insurance with 
 business in this 
 ■ provision of the 
 cting of contracts 
 t more than five 
 
 ion of assessment' 
 irance laws. 
 
 '<ft"'^"W>iiii 
 
IMAGE EVALUATION 
 TEST TARGET (MT-3) 
 
 k{o 
 
 y 
 
 m 
 
 ^ 
 
 
 V 
 
 ^ 
 
 ^ 
 
 '#'-- 
 
 ^ 
 
 # 
 
 1.0 
 
 I.I 
 
 1.25 
 
 *• IIIIIM 
 
 '- 114 
 
 1.4 
 
 2.5 
 
 1.6 
 
 Photographic 
 
 Sciences 
 Corporation 
 
 23 WEST MAIM STREET 
 
 WEBSTER, N 14580 
 
 (716) 872-H503 
 
:<^y<^ 
 
 4 0Jp 
 
 
 ^ 
 
 CIHM/ICMH 
 
 Microfiche 
 
 Series. 
 
 CIHM/ICMH 
 Collection de 
 microfiches. 
 
 Canadian Institute for Historical Microreproductions / Institut canadien de microreproductions historiques 
 
NKW JKItHKY. 
 
 &3 
 
 NEW JERSEY. 
 
 (l.e>,'WttluremeeUimnui.lly. N.xi ei-HHloii, Jai.uury 14, IHOO.] 
 IIknuv C. Kki.hey, Kcrehiri/ »/ Sluh:, Tkknton. 
 i.Uu:x'*inn — Every fompany, bol'ons a.lmissioii tu tliiH Stat.-, 
 
 ..ast L. bu...lr.Hl and fifty tlM.usan.l dollars over ^^^^^'^^^ 
 •u.d liabilities, and shall tilo with the Socrutary of State a stiUnunl 
 's mu d a sw.>rn to bv its president and secretary showing the eon- 
 diTion and l.uriness of thoco.npany. a..d ^ivinj,' the ..a.ne and residence 
 of each agent of the company in this State. 
 
 (U't'mvali'H and vlf/f'i*^v.- Every company, before trans'act- 
 Miu btinS hal p" ..re from the Secretary of State a certificate o 
 ImthorHy authorizing it to transact business and establish ag..nc.es lu 
 
 ""'Ivery compuny .hall furnish tlio Secretary of State a list of the 
 -.cents appointed .uid commissioned in the State, and every such agent 
 shail pEo Croin him a certificate of authority before transacting 
 
 ^"' AlTcerlificates of authority shall be renewed annually in the month 
 of January. 
 
 State in vexaniiie any cuinpnnv doing business m tins State, an.l ,f 
 rlhllvpoavas a result of such examination that the assets o any 
 re nsiiranco company, after charging it with the amount requisite or 
 the ^sumnce o its c,utstanding risks an.l with its other proper la- 
 bihties "mount to less than three-fourths of '^-Xtfto 're'Lst 
 the assets of any life insurance company are not sufficient to re-insure 
 tsouSanding risks and discharge its total actual I'f ll/t'^'^H. ^bnU 
 r^oke the certificates granted to such company and its agents, and 
 publish notice of such revocation in two newspapers published m 
 Trenton and Newark respectively, at least six times. 
 
 Tvt;..^ nnr>-iut' and X//V'.— Annual statements shall bo filed 
 in tKSitS'janX in eathVear, and shall show the condition o 
 ihe company on the 31st day of December preceding and state the 
 nan.ncSnce, and amount of premiums received by each agent 
 
 '"To'rJfrSmpS^^^^^^^ do not make a statement of their home 
 business t^the Secretary of State, are prohibited from advertismg the 
 
 ™ife policies may be valued by the American Experience Table of 
 MortaHtvwUh interest at four and one-half percent, per annum, or 
 £ Ictuarres- Tuble of Mortality, with interest at four per cent, per 
 annum, or any other recognized standard of valuation. 
 
 j,V>e.^._For filing certified copy of charter, twenty dollars. 
 
 Annual statement, twenty dollars. 
 
 Certificate to agents, two dollars. 
 
 Reciprocal provision. 
 
NKW .IKRSEy. 
 
 TfU'^'S. — Evnry insuranco comimny in its fiiiniml stiilomorit Hliall 
 HtaUi the gross aiiiDunt of promiuniH n^coivcHl in tho Stiil(( during tlio 
 preceding your, luul pay to tlus Sccrotary of Statu a tax of two per 
 centum upon sucii premium. 
 
 Every lire insurance company of another State doing business in 
 this State, is required to return to the treasurer of the liremen's relief 
 association in any city, town, borough, township, or lire district, on tlie 
 Ist day of January and 1st day of July in each year, an account of 
 all premiums receivi'il during the previous six months for insurancti 
 against loss or injury by fire upon property in any such city, town, 
 borough, townsliip, or lire district, and to pay a tax of two per cent, 
 thereon within one month after tho n-spectivo times for making of 
 said returns to such treasurer. 
 
 Agents are also required to make a like return and to pay a like tax 
 thereon. Payments made by agents to bo deducted from the amount 
 to bo paid by said companies. Upon failure to make such rcsturn and 
 payment, the certificates to company or agent shall be i-evokod. Tlie 
 amount thus paid is deducted from the amount payable to tho Secretary 
 of State. 
 
 Life insurance companies of States which do not impose a greater 
 assessment upon companies of this Sitato, shall pay annually, in lieu of 
 the tax of two per centum, the sum of twenty dollars for each and 
 every agent appointed by and acting for them. But agents transacting 
 industrial business only are exempt from said charge of $20. The act 
 is not reciprocal in regard to the above charges; and when, by the laws 
 of any State or nation, greater taxes than the foregoing, or other 
 requirements or impositions whatsoever are imposed or made upon 
 companies of this State, like taxes and requirements are imposed upon 
 companies of such State or nation doing business in New Jersey. 
 
 Pelt alt Irs. — Evory violation of tho laws relating to insurance 
 sliall subject tiio oilonder to a penalty of not more than five hundred 
 dollars for c ' offense. 
 
 Every adv;.xtisement of whatever nature which gives the assets of 
 a company must also state its liabilities, and it io unlawful to advertise 
 unpaid capital. Any company or agent circulating advertisements 
 contrary to this provision is subject to a fine as above. Agents are 
 subject to the same fine for doing business without authority, or for 
 unauthorized companies. 
 
 Any company failing to make and file its annual statement for 
 thirty days after the time provided by law, shall be subject to a poiudty 
 of five hundred dollars, and a like penalty for every month it continues 
 to do business in this State without filing such statement. 
 
 ASSESSMENT INSURANCE. 
 
 The laws of New Jersey do not permit the admission to transact 
 bu^iness in that State of cooperative or mutual assessment companies 
 of other States, except upon the same terms as are offered to regularly 
 organized life insurance companies. Mutual or assessment accident or 
 casualty companies or associations may be admitted to transact accident 
 insurance solely, if possessed of and maintaining assets invested in securi- 
 ties to be approved by the Secretary of State to the amount of at least 
 fifty thousand dollars. 
 
NKW MEXICO. 
 
 stalomnrit sliall 
 iit(t (liiriti^ Iho 
 iix of two ^)()r 
 
 IK business in 
 
 limincii's roliof 
 (iiHtrict, on llie 
 
 an account of 
 I for insuranco 
 idi city, town, 
 
 two per cent, 
 for making of 
 
 ) pay a liko tax 
 )m the amount 
 icli r((turn and 
 rt'vokod. Tlio 
 J the Secretary 
 
 iposo a greater 
 lally, in lieu of 
 for each and 
 [itH transacting 
 $20. Tiio act 
 en, by the laws 
 aing, or otiier 
 or made upon 
 I imposed upon 
 w Jersey. 
 
 T to insurance 
 1 five hundred 
 
 !s the assets of 
 ful to advertise 
 idvertisoments 
 . Agents are 
 Lthority, or for 
 
 statement for 
 3ct to a poiudty 
 itb it continues 
 it. 
 
 ion to transact 
 lent companies 
 ed to regularly 
 ent accident or 
 msact accident 
 ested in securi- 
 )unt of at least 
 
 • NEW MEXICO. 
 
 [I,eBli>lnliiri'tiioi'txblniiiiliilly. Next MSfiion, l)eci mbcr, IWK).] 
 
 Thinidai) Ai.auii), Ttrrilnrial Auiltlor, Santa Ke. 
 
 ttfnn'Msion.— Wvory inHunuinj company, cxaU'ting plato-gluss 
 and'accidcnt'compani.-s. must Iahv.- a [.aid-up capital of tlinx! luiudn^d 
 thousand dnlhirs. A.'cid.M.t coinpaiiius, eitiier stock or mutual, am 
 all compani(;H coi.lining liuiir business exclusively to tlu, insnranc! ol 
 plato.glass, must each have one hun.lriid thousand dollars paid-up cai). 
 ital or available cash a.ssets. In each county m which u company 
 transacts business an attorney to accept service must he ai.poiiitea; 
 such attorney must reside at the county seat and may be the com- 
 pany's agont. bV)reiga companies must show to the satisfaction of tlio 
 auditor that they have deposited in some State or territory at hsast 
 one hundred thousand dollars for I he special security of the assured. 
 No aKent is allowed to transar' business for any company wlio.se cap- 
 ital is impaired to the extent ■.. twenty per cent, by habihtios, so long 
 as such impairment continues. A synopsis of annual staKunent, show- 
 ing assets and liabilities, must be published, within sixty days after 
 (ilinir same in one newspaper in every coun'y whcn-ein the comi)any 
 has an agency; if there is no iwunty newspaper, tlien in some news- 
 paper of general circulation in said county. 
 
 Annual Stat^-incnts.—^t&UmcntHmnst be (lied with audi, 
 tor annually of the business and condition of companies on the preced- 
 ing thirty-first day of December. 
 
 Af/ents and lAeense Fees.-ypon January Ist of each 
 year every agent in the territory must make a sworn statement of the 
 amount of premiums received in the territory for each company repre- 
 sented by him; and this statement he must forward to the Auditor by 
 February 1st, together with bis annual license fee 1 he amount ot 
 this fee is determined by his premium receipts, as follows: When ess 
 than $10,000 during the year, $25; when over $10,000 and ess than 
 $20 000 $50; and for every $10,000 thereafter an additional il,50 toe 
 is required Every agent or solicitor must be a resident of the terri- 
 tory Every company not organized under the laws of the territory 
 must have at least one authorized agent at the county seat of every 
 county in whicli business is solicited. 
 
 ASSESSMENT INSURANCE. 
 
 There are no laws in the territory of New Mexico regulating the 
 business of assessment insurance. 
 
 — . ■ ^-^Sia!fJ.W»WtgN8'>k " ri' 
 
90 
 
 NKW YoItK. 
 
 NEW YORK. • 
 
 [Le({iitlntiiru n.eclH aiuuiBll) . Next mmtlon, Jan. 1, 1890.] 
 It. A. Maxwell, SupeiinteniUnl of Insurnnce Uejtarlmcnt, Albany. 
 
 Athnissfon,— Kvory comiKuiy must posHusH th»! ainonnt of cap- 
 itiil unci assets licrciiiiit'ter iiKfiitioiiiHl, iM^l'um liciiif^ ailiiiitlod to IniiiH. 
 act IdisiiiosH in this .State, aiuJ must filu with tlio Suj)crii»tou(lent — 
 
 A cortilicd copy of its cliartor or dcod of scttlcnK^nt. 
 
 A statoiuuni umlor tlus oath of tlio i)rusi(i(>nt, or vice prosidont, or 
 other chief ollicer and secretary of the company, stating tlio luvine, 
 location, cajjital, assets, and liabilities of the company, in detail. 
 
 A copy of the last annual rei)ort, if any, made under any law of 
 the State by which said company is incurjuirated, 
 
 Kvery company must also appoint tho Superintendent of Insur- 
 ance its attorney to accept aorvico of proces in any suit or proceeding 
 at law. 
 
 Cet'tiflratvH and Af/CHfa. — Every agent of any company 
 admitted to transact business in this State shidl procure from the Su- 
 perintendent a certillcato of authority, stating tliat such company has 
 complied with all the requirements of law, and the name of the attor- 
 ney api)ointed to act for tho company. A ci'rtified copy of such cor- 
 tilicate of authority shall be filed in the ullice of tho clerk of tho county 
 where the agent's ollice is located and the agency established. 
 
 Agents of every lire company must also iile with the* county clerk 
 a copy of the statement of the company, and publish the certificate of 
 authority four successive times in tho paper in which tho State's 
 notices are required to be inserted, and within thirty days thtsreafter 
 file with tho Superintendent theailidavit of the publisher of such pa|)or, 
 his foreman or clerk, showing such pulilication. Every agent doing a 
 fire business in any incorporated city or village shall execute a bond, 
 with such sureties as tiie treasurer of the fire department shall apjjrove. 
 conditioned that he v/ill make true and correct returns as required by 
 law of the atnount of premiums received by him and pay the taxes 
 thereon imposed. In the city or county of New York such bonds 
 must be for the sum of one thousand dollars. In every other incor- 
 porated city and village, such l)ond must be in a sum not exceeding 
 five hundred dollars, AVhcre company has no agent its officers or 
 manager must file bond with Superintendent, in the sum of two thou- 
 sand live hundred dollars before it may lawfully write policies upon 
 property in such cities or villages. Agents of each marine company 
 shall fila in the office of tho clerk of the county in which they reside a 
 copy of the statement of the company, and publish the same in a news- 
 paper (if one be publishetl in the county) at least six successive weeks 
 after the same is so filed. Such agents shall execute and deliver to 
 the Comptroller a bond in the sum of one thousand dollars, with such 
 sureties as the Comptroller shall approve, conditioned that such agents 
 shall make returns and pay taxes as required by law. 
 
 Certifica es of authority shall be renewed annually, and shall be 
 
NKW YORK. 
 
 •J" 
 
 190.] 
 
 'iicnt, Albany. 
 
 (i ainduiit of cap- 
 iiiitlod to truiis- 
 riiituutlont — 
 it. 
 
 ico prcsiilfmt, or 
 iiting tlio immo, 
 ill ili'tail. 
 tiilor any law of 
 
 ndont of Irisur- 
 lit or proceeding 
 
 )f any company 
 ro from tho Su- 
 ch company lias 
 mo of tho attor- 
 )[)y of such cor. 
 ?rk of tho county 
 hiished. 
 
 tho county clork 
 he certidcate of 
 hich tho State's 
 r flays thtircaftor 
 cr of audi paper, 
 ry agent doing a 
 execute a bond, 
 ^nt shall approve. 
 3 as required by 
 d pay the taxes 
 ork such bonds 
 cry other incor- 
 m not exceeding 
 it its officers or 
 im of two thou- 
 to policies upon 
 narine company 
 eh tliey reside a 
 
 same in a news- 
 uccessive weeks 
 
 and deliver to 
 hilars, with such 
 that such agents 
 
 ly, and shall be 
 
 fihMl an.l published in tho sam.. manner as the original .•ortilicale of 
 
 "'"kII!,^ agent, in all mlv..rtiHem..ntH of any company he repn^ents, 
 shall pul.lish tho location of the .■ompany, giving city, town, or village, 
 
 ""'Metillowing an. the provisions for li.rensing agents f. place ex- 
 cf's^ lines in unanliiorized companies: , ,, , .1 .. 
 
 Tlie Superintendent of the Insurat.ce Depaifnent shai .e au.l.o 
 i/,ed to issue to citizens of this State, in c.msi.leraUon ol tl"' > " 
 ^ynentof two hundred dollars, a li..mHe which shall he '*"'' «*' 
 lev^ocation at any titne, permitting the person or ^^"l/'^;:^l^^^l 
 liconse to act as agent or agents and prnrutv pulines ol li.e •'»'>; 
 or themselves or others, on property m this State in -■'' -■;-;,' ^^ 
 have not complied with th(, laws of the State; but belo.e ay on 
 
 or linn shall ict as agent or agents uiu er or by virtue o a^ I -nse 
 an<l procure polices in said companies, he or hey sha I execute an all 
 da vi ncluplicate. one of which shall he liled with the in.uni e e- 
 partment. and the other in the clerk's otlice «'' ^''''-"'l >; ;\' '',,t 
 .roLortv proposed to be insured is located, seating forth that the per- 
 ojlm.^o corporation desiring insurance is unable to 1-ocuro lo 
 amount ^f insunince required to protect sau proijeily "^m. r n^ 
 ,r„lle.l by the said person, linn, or corporation, rom ^'^^ 
 
 ..ompanies duly authorized to trans: ct business ,n Uns S tat 1 '- ; 
 
 however, that in counties having less tl.an one hundr.:d tl.ou. "d ". 
 LbitantL the license fee lor su..h agent shall ^^^^ ^f^^^^f'^'^]^^ 
 .lullars The agent or ag.'iits wh<^ by virtue ol said licen..' shall place, 
 y sudi ulnvLo or pmcure policies in ar^ such unrepresented coni- 
 iies shall k..ep a separate account thereof, open at all imes to tho 
 ,c ion of the Suplrintendent, showing (1) the exac a-'unt -l 
 such insurance placed for any person, linn or ^'"n--;vl.on ; ) 
 gross premiums charged thereon: (■'.) m what companies; (1) th. date 
 of the noliev; and (.")) the term thereof. . 1 1 
 
 'Hie agc-ts pro^ic/ed for by this act shall not exceed Uvo hundivd 
 i„ number, and'each person or linn receiving -''^^ VteTui iver to 
 fore transacting business as luu;e,n authorized -^-- « ^ ' '^^J t° 
 the superintendent, a bond to the people ol this ^^ % " '^^^ 
 sum of two thousand dollars, witii such sureties as th ''^ J y ^^^^ ';^^" 
 shall approve, with a condition that the said agent will f^'>' ''' ' >/'" 
 ulv with all the requirements of this act, and will pay to the saul 
 S M) S e, dent, in Januarv and July of each year, the sum of three 
 dS'upon tin, hundred dollars, and at that rate ''P;'" [ - .'^7;;;:; ^.f, 
 gross premiums charged to policy-hol.lers ui-on all pohcie,-, roMUul 
 by such agent during the preceding six months. i;"rsn:.nt to th U^ 
 It is further provided that all fire insuranc.> policies issii I i-e^dt ts 
 of this State on property located herein, by .■onii.an.es that have it 
 complied with thi relinirJnumts of the general ^n.u^.n..oU^.^o k« 
 State, shall be null and void, and of no force or « J'.'^^\; '^' ^ ' j^ ^■ 
 cept such as have been procured in the manner m this act provided. 
 
 ExaiHiHations atui I,„pnivttti'ntx.-1'\^ Sup'.rintend- 
 ent, whfmeteJhe deenisit expediefit. or whenever he '- oc-casion to 
 suspect the correctness of any statement, shall ci.use an examination 
 13 
 
 If ! 
 
 1 
 1 
 
 \ ' 
 
 ■ tiVi.'Jfcl't^BS^MBife'.-M 'S 
 
 ■^miiiyiw^ 
 
M 
 
 NKVV VoitK. 
 
 to bo iiiftilu into tim ulTaiis of any company tloinj^ ImsiiicM.s in this 
 Htatf. WiioticvtT ln' Hhail iji-cni it for llic inli-rcHt. u( tim puljlif, lui 
 Hliall (iiiltliHli thn n-Mult of siii'li cxiiniinution. VVIit>ncvur it nliail up' 
 p(!ar tiiiin siu'li I'xanuhiiliun tliiit lln' alf.iiis nf any cuinpuMy ui'it in an 
 iinsounci ODiidition, tiic Siiprrinl ■ndcnt mIiuII revoke tlie ccitilit-'ato 
 ^nintcil in iji-liaif of .sucli company, and caimo u uotiiication tliuruof to 
 bo pul)liHli(;d in tliu Statu paper for four wcelis. 
 
 A lire insiirani't! company caniot do iniisine.xs in (liiH.Statt) wlion its 
 capital Miociv is im|iairod lo ilin oxtcnl of twenty por cent. 
 
 A mutual life insurance company cannot ilo Ijiisiness in this Slato 
 wiitm its uHHoth aro not (!(|Uttl to itti liabilitiim, including the proniium 
 roservo computid a» rccpiired by l;.i\v. 
 
 A stuck life insurance company cannot do buHinesa when its stock 
 ia impaired to tho oxtont of lifly per cent. 
 
 i'ViV (lint Moi'hU'. — A (lie or niarino insurance c<mipany 
 must posses.') a i)aid-iipca[)ital of two hundred thousand dollars. 
 
 Annual statements must be (i!eil in tho month of January in each 
 your, ami show the condition and alTairs of the company on tho pre- 
 ceding 3 1 St day of December. 
 
 Tho re.insuiaiice fund is cominited at lifty per cent, of all [iromiums 
 on unexpired lin; risks having one yt;ar or less to run. /Vo idia of all 
 premiums on unoxpired (iro risks having more than one year to run. 
 Tlie (,'ntirc premium received on unexpired marine risks. 
 
 Every coiii[iaiiy must lilo in the ollicu of the Insuraiico Superin- 
 tendent an agretMiienl, under \ts corporate .«eal, tliat it will not tninsuct 
 any business which any lire nsuiaiice company is prohibited from 
 transacting. 
 
 No investment will be allowed as an asset that is not held as pro- 
 scribed by the law of this Stati- e.Kcept unpaid prc'iiiiums on policies 
 written within three months, i'lvery policy of insurance must b(> can- 
 celed at tho reipiest of tho insured and the premium paid relurnod 
 less the customary short-rate premium for the expired time of tho full 
 term for which said policy has boon issued. No company can take 
 any one risk in this State in (excess of ten per cent, of its paid up capi- 
 tal stock and net surplu.s. No company shall reinsure any risk written 
 or located in this State with any company not admitted to transact 
 business in this State, and schedules of re-insurances must be (iled with 
 annual statement. 
 
 KiVory advertisement purporting to make known the financial 
 standing of any company shall exhibit the caj)ital actually paid in in 
 cash, and the amount of net surplus over all liabilities, including in the 
 liabilities tho re-insurance reserve on outstanding risks. Such assets 
 shall only b(! included in tho advertisement as are held for the pro- 
 tection of holders of polici(;s of fire insurance. Such advertisement 
 shall in its statement of the linancial condition of the company corre- 
 spond with the verified statement last filed with the Insurance Depart- 
 ment. No marine company is permitted to pay to its agents moi-ethan 
 fifteen per centum of premiums received for insuring property in 
 transitu on the canals of this State. No part of the remainder shall 
 be paid to any shipper, middleman, or other person, directly or indi- 
 rectly. Every company shall under oath make such statement in 
 
tiisiiicHs ill tins 
 llu) piiljlic, liu 
 
 ruv it hIiiiII up- 
 
 i|iiiiiy ant in an 
 llir n-il-ilit'iito 
 
 iition tliurc'uf to 
 
 H.Stiito wlion ilH 
 
 tilt. 
 
 'SH ill this Statu 
 
 ^ tilt* proiiiiuin 
 
 wlifii its Htock 
 
 iriuiro coinpatiy 
 I tloliai's. 
 luiiiitiry ill cat'li 
 my oil tlin pn-. 
 
 of all pi'tMiiiuiiiH 
 
 /'til idUi ol' all 
 
 w yoar to run. 
 
 iiianco Supt'iin- 
 will not ti'iinsact 
 iioliibili!(l from 
 
 not hold as pre- 
 iiuns on policies 
 ICO must 1)0 fan- 
 1 paid rc'lurnod 
 timo of the full 
 npany can tak(( 
 its paid up rai)!- 
 any risk written 
 tted to transact 
 U8t be (ileil with 
 
 in the financial 
 ually paid in in 
 
 including in the 
 :8. Such assets 
 Lfid for the pro- 
 :li advertisement 
 
 company corre- 
 isurance Depart- 
 igents moi'e than 
 ing property in 
 
 remainder shall 
 directly or indi- 
 ch statement iu 
 
 NKW YORK. 
 
 !•;» 
 
 r..f..rence to sucl. payment nn the Insun.nco ^''l»'''"''':'\';'''.;J;;*'' ^^^^ 
 ,,uin.. ViolMti..ns..f this nviuiiomenl mny he punished l.y levuuitlon 
 
 aiifhorily to do husiiH'.-'S. .,|,,|,tv. 
 
 On ami after thr liiyt dav of May, oiKhl.en humlicl a i.d oiuhty^ 
 seveii m. nre insurance co.npany, .•orponition. or "-'"";■"' '^;'^ 
 ,ll^..e s or agents, shiill mnke, isHUo, use or .lohver for use ay io n^ 
 surance ix-tv, or a ivm.wal ..f any lire pnhcy, on proper y > I'lH 
 sZotl!er than such as shall conform inall l-;'"-' ''!;;-;'; •'^: 
 si/.eof typ.N conte.Nt, pn.viHioiis. ^^^'\''T}'^\'''\r^^^^^ Z 
 ,.,inted form of contractor policy fded ''V'''';''"'"'' ';', ' "^^ , o^. 
 l.f State known as ll,o standar-l form of H"'y. » ' '' '' ' ,;'. 
 dilTeivnt provision, auMcmcnt, condition, or '•'^^'l^' ''','' y'', 
 1,0 made a part of said contract or i^ohcy, or he ind.^ised theu.m ..r 
 
 delivered therewith, except as follows, to wit; , 
 
 /,•/„/_ The name of the company, its h.cat.un and phi '.; ol 1 usi- 
 
 ,uJ he datV of lis corporation or organi/.ation, whether it is a stock 
 
 niu al omp.tnv, the' names of its olliccrs. tho number and -lato o 
 
 the policy, and If it b.. issued through a manager or agent the w h 
 
 !. uJs lolicy shall not be vali.l until countersigned by the duly aut r- 
 
 ized manager or agent of the (amipany at - ^ 
 
 lio iirinti'd on policies issued on property in tins Mare. 
 
 ' '!;/_ Printed or written' f.u-,ns of description ""'' p'-' ^ ';;" 
 or sclu-dules of the prop.-rty .-overed by any particular p-li cy, ai d any 
 H, r at er neceJary to cl..arlv express all the ia-^ts and coi.di Uons 
 ; ' ■, sur^^l".:; any piticular ri^k (which laCs - ;-;; >;-- 1;' I 
 „oca-e be inconsistent with, or a waiver of any of he p.oviMoiis or 
 : dons of the standard poli.-y herein provided or • J.^ "^w U 
 upon or attached or appended to any policy issued on piopi'itv in this 
 
 ^*%„V/-A company, corporation, or associati.m organized or 
 incor rated unler and in p.iisuance of the laws of this State or . Ise- 
 wh r f oiti led to ,lo business in this Stat.-, may, with the approva 
 of t lie up nntendent of the insurance department, if the same is no 
 areaSv • "led in the stan.htrd form to be liled in ,he oflice o lie 
 Seen urv of State, as provi<le<l for iu the first section ot this ac print 
 im its Ji • es • "V provision which it is by law required to insert therein 
 i s ich n wis n iLiot in conflict with the laws of this State, or o tjie 
 United 'states, or of the provisions of the standard iorm provided for 
 lurch Imtsa d provision or provisions shall be printed apart Irom tho 
 S.r'pl^iSns'agreements^or conditions "V'^^Cw'^i;' '1!:^ ^LJedt 
 arate title, as follows: " Provisions rccimred by law to bo stateil in 
 
 ''""Anv'insurance company, its ofTicers or agents, or eitlier of them, 
 makiiK suing, delivti-ing or olfering to deliver any pohcy of fire 
 hisu "nee on pr .pertv in This State except as hereinbefore provi^led, 
 ralThe gimtyof'^a misdemeanor, and upon complaint made by the 
 tp HntSi^t of the Insurance I'^-tinent or by any cUi.en of th s 
 State, shall upon conviction thereof be punished V "^ ''"'^ J\f,f ^ 
 than tweutv-five nor more than one hundred dollars tor tlio nrst 
 ICse ^nd o not less than one hundred nor more than two hundred 
 and fiftly dollars for each subsequent offense; but any policy so made, 
 
 %\\ 
 
 i 
 
 11 
 
tnn 
 
 NKW YnllK. 
 
 iMHiuul, lui.l .l.-liv.Ti'.l hIiuII notwitlmtiiiKliiiK »'«' biinlinK upon t)w com 
 puny ifsiiin^ ili" Hiiinf. 
 
 tJ/'r ami Arvhh'Ut> — Kvcry fi»iii|uiMy tnuiHiictinK biiMincMH in 
 thin Stiitt' iiiiisf iMixKc.-H III It'UHt unit IuiihIii-iI lhniiHiin<l (lolliitn invfxIiMl 
 III t!ic :*i,n.'k.-< i>r liuiiilsnf ill-' I'mK'"! Stiiifs, ilif Stiiio of New York, or 
 of till" Smtn when' till- roiiipiiiiy is loculnl, or in Ioiiiih Hi'ciin'<l hy 
 nioilK''K" "•> ini|"'"^'''''» iiiiinciiiiilifri'ii iciil fMtati) witliiii tlir Slati 
 wliiMT fiirli roiiipiiny if* loi'uti'<l, worth M'vciity-livM pi-r cfiit. niorr tliim 
 the iinioiinl ionni'il "ilicriMm. StU'li si't'iiriticH sliiill In- ilc|Mi!*itiMl with 
 lim Amlitor, ( 'oiiipt roller or cliii'l' liiiaiii-iiil oIlli'iT of tlic Stiitn wlwrr 
 siiiil coiiipiiny is ini-orporatiMl, for tin- lunrlit uf nil llm policylioldrrM 
 of .HiMih coiirpuny, iukI the Siipi'riiil.«ii<U'iil >li,ill !»• furniKlii'd with ii 
 (•••rtificutr tlinrt'o't nnih-r tin: liuinl iiiul ollirini seal of hiuIi ollirt-r. stiil- 
 \\\H rhr itrins of 8in-li HiM-uritioH, lUitl thiit siirli ol1ic»»r Ih Matisliod tluit 
 tlii-y ari' worth oiio hnndnil thoiisiiiul ilollars. 
 
 'Aiiniial Ktati'iiifiits niiist I'o lilcil <>ii tlir liiMt day of January in ouch 
 your, or within sixty dayw thcrcaflur, .nliowiiiK the condition und iilTairH 
 Iif fho coinpiiny on llui preceding 3ht day of [)ecunilier. 
 
 Tiie Superintendent shall, at h-ast once in (ivc yciarn, and annually 
 in his discretion, iiitike valuations of all oulstandintf policies, in every 
 life insurance conipaiiy doinj; l>usiiie>-s ii' this State. For the purpuse 
 of Hiich valuation the' rate ot interest assumed shall he four per cent, 
 per iiniiiiiu, and tlie rate of inortiility shall he that estahlished hy the 
 .Actuaries" or Coinliined K.xperienci) Tal)l(». The Superintendent niiiy 
 in his discretion accept the vuluation of tli(> Department of fnsurance 
 of any otlior State, in place of niiikini; sucli valuation, provided the 
 insurance ollicer of such State does not refuse to accept as sullicieiit 
 and valid for all purposes the certiiicutt) of valuation of the !n.surunco 
 Department of this State. 
 
 I.>fe insurance companies sliall not mako any discrimination in 
 favor of indiviiluals of tli(! sumo chi-ss and of tlict same expectation of 
 life, oitlior in tint amount of premium cliar^,'eil or in return of premiui'i, 
 divideniis or other advantages, and no agc^nt of any hucIi insurance 
 c'tmpany shall make any contract for insurance or agreenjont as to 
 such contract of insurance other than that which is plainly exprosBcd 
 in the policy issued, nor sliall any sudi company or agent pay or allow, 
 or otTer to pay or allow, as inducement to any perscm to insure, any 
 nihates of promiuni, or any special favor or advantage whatever, in the 
 dividends to accrue thereon, or any inducement whatever, not specified 
 in the policy. 
 
 The re iiLSiiranco rctserve tipon accident policies is the unoarnod 
 premium on polici(!S in force computed on each risk from the date of 
 issuing the policy. 
 
 Policies of life insurance issued in this State upon lives of husbands 
 for benefit of wives, may be assigned by the wife with the written con- 
 sent of her husband, and in case of licr death by her legal representa- 
 tives with like consent. 
 
 No life company doing business in this State shall have power to 
 declare forfeited or lapsed any policy issued in this State by reason of 
 non-payment of any annual premium or interest, unless such company 
 shall, when any premium or interest ou such policy is duo and unpaid, 
 
C upon the com 
 
 ■liiiK hiiHiiM'HH ill 
 (liilliirs iiivi'xttM 
 il New York, or 
 piiiis HccMi''''! by 
 itliiii till' Sliiti 
 cent, iimrt' tliiiii 
 il<>|H)Hiti*i| wit 
 till' Stiitn wlicrr 
 
 H) pdlicyllDl'll'I'K 
 MllliKlli'll vvitll II 
 
 ilfli dII'iimt, still- 
 
 JH MUtiHlliKl tilUt 
 
 JiiiiiiHry in oucli 
 lition uml iilTiiirH 
 r. 
 
 rH, and aniiiiully 
 loIicicH, ill every 
 l''nr llie |illl'f)OHe 
 !(• lour per cent, 
 tiililislied hy the 
 erinteiuloiit iiiiiy 
 ^iit (if Iiisurnnce 
 1)11, [ir()vi(le<l the 
 fept IIS HiilVicieiit 
 ii tlio Insuruiico 
 
 iiscrinniiation in 
 le expectation of 
 urn of preiiiiui'i, 
 such insurance 
 ii>,'reeuicnt as to 
 iiliiinly expressed 
 ont pay or allow, 
 n to insure, any 
 I whatever, in tho 
 vor, not siiecilied 
 
 is tho unearned 
 from tlio date of 
 
 lives of husbands 
 
 I tho written con- 
 legal ropresenta- 
 
 II have power to 
 tale by reason of 
 >ss such company 
 i duo and unpaid, 
 
 NKW YnllK. 
 
 101 
 
 Ho.id I.. III., in.mvd or hi. «s«iKne... ul hi- IhhI known poHt-olllcuMl Ir .hh, 
 o 11. ii a written or printe.l notice stating tho amount .,f pre- 
 
 ;:;;•;;;: : ^^ : mom;;; sull !;,• shan ..1. "if ';»;;;-•; ; 
 
 ,-';i;-;;:-di:';:ii:S::;!:^:':^^ 
 S:;-r:a:;.t.;:;;.th^ 
 
 W,,te.HhlHH.-^^^<^\^ companies shall make the same dcp«'«'l "'^ 
 lifo o' '';;.!.•' und\.t.tai^ ce.tilica.c of authority ladore doing busi 
 
 nesH. 
 
 :z:::^::.7^i::^^^^^'^^'^^ - ••"- whid. companies.^ 
 
 Jliir Stat" >ar!Mu.rn.itt.ii to hold, not Ics. than llvuhun.lred thousand 
 ''""'iMudl also lilewith the Inm.ramc Superintendent an ftgroe.nont 
 
 d.;'iii:;;;:::r^;rx;;:rct;;t:-;::;r;i;^'^x 
 
 Hum "'t^ Y'^ y;"' , ^ f >,.„^^. v,„.k, or in l.on.ls secured by 
 
 T'"V 3in s^^^ 
 
 .l,»ll 3n a .lopoml will, U,o S.,,„..i.ao,Kl,-n. in sccunUos ot ll.o value 
 
102 
 
 NKW VOUK. 
 
 thi> iiMiiitli of Jiinuury ii, ciit'li y«>ttr, Mlmwiiig tliti iiiVKMriiiciitN cnnMtititt 
 iufi ihi> ('n|iiii»l iif rlii> rftinpiuiy iti tin* ITiiitixl Stnti'o, itml tlio ('iiii<litii>ri 
 iiihI lMi«iiiixN itf till' <'i)rri|iiitiv in tint I'liitcii Sl>ili')(. lai tlic |iri>i'i'i|iti^ 
 lllxl iliiy i>( hi'fctnliiT. Kvcry xiicli loinpftny <*lmll ihily mlviTtiMr, 
 ImiIiIjm)), nr I'liiiiii ill nuy Mtiiroiiifiit only miicIi hmmmIm or l)iiNin«"*M hm il 
 hiiH tiiid IwiM iloiio within tin* i'liittMi Htiit,i>«. Tim 0((rtilii-iit<< of nny 
 (■oin|)»iiy violiitinK tliin proviMion will ho rMVokoii. 
 
 FvvH, — Kur flvt-ry ropy t)f any piip«r HUxl in tli« ilrpurtiuunt, tim 
 Minn often cfiitK pi>r folio, niul for iillixin^ tlu' Hi>itl of hiu'I cicpartinont 
 to Hiich copy anil >'i>rtifyin^ tlu' Hanu>, one tlollar. 
 
 h'or lllinK i-lmrtor, $;ni. 
 
 For ftlint; nntiiiat Mtatcnii'iit, $'20, 
 
 For oni'li cortiliruti' of authority and «'ortillrtl copy of muno inHiifil 
 to an M;x*'>it. Mw\\ Minns not cxcuftlin^ livo ilollurH an nIihII ho lixnil 
 from liiiH' to titnc hy tho Hupi.'rintoinli'nt, 
 
 For I'xuininationM of iimuranai conipuniui*, the actual uxpvhNUH 
 incurrcij. 
 
 KtH'iprocal proviHion. 
 
 T(l,f('M, — TIm> agcntB of all rimriiu' coinpouit'M mIirII poy to tho 
 hiuiranco Ih'partint'nt on tin' (irst ilay of .liiniiary in each yoar, a tax 
 of two (lo'liir^ on iht' orm hnmlrcil dollari^, atnl at that rate upon all 
 pri'niimiiH which nhall have hccn rcccivoil in this State for the year 
 L'UilinjJt on tho preceding Ulst day of Kcceniher. Hut the Siiperin- 
 tondent of the Insurance I)i>purtin)fiit shall deduct from the amount of 
 Hitch fax any oiIht taxen paid hy such companies in tliiw Slato. 
 
 Till' ii^feiits of all lire compunii's inkinj^ risks in incorporat»'d oitieH 
 or villaK<'H, excei)t those ol New York and liutTalo, shall annually, on 
 the lirHt day of February, render to the treasurer of the lire d<'part- 
 iiR'tit of Huch city or village an ai-connt, vorilled liy oath, of all premi- 
 uniH received by him within any incorponited city or vdlaj^e for the 
 year ending? f)n the prececiing .'ilHt day of !)i r^pnilter, and shall pay to 
 Hitch treasurer a tax of two dollars on the om- hundred dollarH, and at 
 that rate for the whole amount of such premiumH. 
 
 Kvery (iro or marine inHiirance com[)any, incorporated or organi/.tid 
 under tho laws of any foroign cottntry, shall, annually, on or Insforo 
 the lirst <'ny of Aiigitst, pay to tho Trea.surer of the State, m a tax on 
 its corporate* franchise or husiness in this State, a sum oipial to (mo- 
 half of one per contum upon tho gross amcmnt of premiiimn rec'sived 
 by Htich company durinp; the year ending tho preceding tiiirtieth day 
 of June, on business dono in this State* by such company, wbothcir tho 
 said premiums wore in money or in tho form of notes, credit, or any 
 other Hul)rttitut<> for money. 
 
 Other State and foreign companies doing business in New York 
 city have to pay a tax upon city premiums of two per cent, to the 
 tntsteoa of th" exempt (iremen's benevolent fund. 
 
 Every such insurance company shall annually, on or before the 
 (irst day of August, make a ri;turn to tho (Comptroller of tho State, 
 signed and sworn to by its jtrosident and secretaiy or manager, giving 
 tho total amount of premiuniH received by sttch company during the 
 year ending the preceding thirtieth day of June, on business done in 
 
NKW VOUK. 
 
 Ia;1 
 
 riK'lltN COHMtitllt 
 
 ml till* cuiKlitiiiri 
 II tliK |iri><'i'iliii|( 
 iliily mlviTliKc, 
 >r liimiiH'MM im it 
 irliiinno of any 
 
 ili'purtinunt., tlitt 
 Muul (li>|)nrtini<nt 
 
 t of Hiunit iHHiii'il 
 ,8 Khali Lfl lixcil 
 
 actual itxpoiiNUH 
 
 hIihII jmy to tho 
 I'licli yi'iir, II tax 
 lilt riitr inxtti III! 
 ,t(> for tin' yt'nr 
 tut lliii .Siipttiin- 
 n tint ainouiit of 
 liw Sliito. 
 •oiporati'd citi»>H 
 ml! atimiiilly, on 
 tlu) lin« depart- 
 th, of ivll priinii- 
 ■ villiif^'c fur flio 
 mil shiill pfiy to 
 i dollars, and at 
 
 :ud or organi?!od 
 y, on or Imforo 
 tati', as a tax on 
 n oi|iial to ono- 
 inimriH runsivod 
 nj? tiiirtintli day 
 ny, wliothur tho 
 i, cnidit, or any 
 
 w in N((W York 
 per cont. to tlio 
 
 1 or before tho 
 or of tin-' State, 
 tnaiiojTiT, giving 
 pany during tho 
 usinesy done in 
 
 ,hi, Htal. I.y -uch . :o,n,«.,y. whalu-r tho -nid pr. .. m *"""'»»"> 
 or m tho form ..f not.-. ..rodiU. ..r any oihor «ul«ti..it.. f.r >•' f. 
 
 Tho land, and roal a-tulo of -ud. H.«uran.o ....npanu.. -hal u • 
 l.nuo to l«. aHMo*,^Ml and fxod whoro «lm.t«l fur Htuto. city, town. 
 ....iiiiiv villiiifo •li'hool, «»r otlior I'nal piirponoK, 
 
 Sog t:. inM.n««.« co,„pani.. .!..!l ann.u.Uy pav t , tho Supor 
 intondont, on <.r hofoto iho Hr.t day of March a tax of two por m, 
 
 upon all pr..,niu,n. r ivo,l in th.. l^talo for tho yoar ond.ng on iho 
 
 prt'ccdiiig :tUt dii> "t Itoi-«ml»or. 
 
 Ut'ciproottl pruvwion. 
 
 Prnillfh'M. - Any violati-.tH of tl... pr.>vUion« of law »vlaling to 
 Hro itlvtran'olhill J'i'-^ >'«" l"^'->y ^'"'"""^ "' " l""""">' "^ "'" 
 
 ''''"Inv ;.|;;l!pany failing to flln annual .tu.onu.n.H an roMuiro.' ■ > law 
 a,,d ," Li2ri.-.Hino!.S i- -uhjort t.. a ponaltv of Ivo hun In. 
 dollarrun.Mlvo hun.lrod dollarn for oa.-h n.ontt. HU.h l.u.im-.. .- 
 
 "'"ri^'iLrHon violating thn ^.rovi.iooM of tho act to p'-y'"'; ;';-:;';;;;; 
 
 nations in ivolioios an.l prnniuinH in l.fo iimuranoo, Hhallbo donnod 
 ' tTo a' , UoMioano!-. and >t ,. .nado the d..ty of tho Huponn^ 
 tulit of tho InHurann. Uopar-iont, on ''- -"7 ^'i;" " ^^.^ ; 
 acting an agont, Hul.agont, or U'niv.T, lo rovoko at on. o t>'" '"J V^' 
 a ahonty ismo.! !o l.in., an.l ... «...■!. .•o.lillca... nhal 1... .I,..r..aff 
 
 iln'!l t.. said ...... vi..t...l po.Hon I.y sa.d Suporinton.lont tor tl... .o.n. ..f 
 
 throo yoarn from Iho dat.. of his conviction. 
 
 A8HKMHMENT INHinANCK. 
 
 InHu!.;!.;'! a':l:^'uo..t, ....'..lankK fu,nisl.od I.y tho ''j->-;;; ;/; .^ J 
 condition and buB.noss; tho n...'c,sHary .lun.n,.M.ts to «•' ^ ^ 
 
 oompnnioH orga..i/.o<l un.lor tho laws of Now Y..rk nniy 1... '^""••"'; '' 
 to do b..Hin..!;s in .1.0 Stat., wl..,ro «.u-h .•...npu-.y ^ ^''^'^''''t't .^ I 
 ,le.ig..ato Koin.. pl.u-o in tl... S.a.o wl.or<. .t« pr...c.pal agoncy .» Icattd, 
 and appoint an att.irnoy to acc.-pt Horvico. 
 
 Jiiiiif/// ,S7rf/ri/<r*»fN. — Slatoinenta inuHt bo lUod on oi- bo- 
 fore tho V/r day' MarcK each year, up..n blanks f..rn,sh..d by 
 So Supot^ntotu J.t, Hl.owb.g tho condition of itB ulla.rs an.l .is tra-.H- 
 actions for tho procodmg year. 
 
 !,>/.« — For liling preliminary papers and declaration, ton dollars. 
 
 for tHi..g annual sUtom.M.t, on.- .i-Har for each lOO membera or 
 fraction thereof, an.l not oxc-eding Iwenty-fivo dollars 
 
 For each cokif.cato of authority or corffiod co,.y, hvo <!-> '"«• 
 
 For copiea of papers ten cents per folio, an.l one .loUar for oll.c.al 
 
 ""^''For special examinations, actual outlay, not to oxcoe.l fifty dollars 
 in any one year. 
 
 Reciprocal provision. 
 
101 
 
 NOirni CAIIOLINA. 
 
 NORTH CAI^OLINA. 
 
 [L('<{l»lHliiri' iiii'i'tH liiehiiiiilly. Nust hkhhIi ii, Jutitiury I8!il,] 
 \V. Ij. SaCXIiKUS, .SVtV..,//'// itf Stale, Uai.kioic. 
 
 Atf mission, — Evory iiisuraiico company <lesiiing to do Imsi- 
 iioss ill tlic State must appoint a i!;cii('i'ai apint, who shall lui a citizoii 
 uiid a rcsiiiciil of the State, nw\ iil(' a ccrtiiicatc (if Kueh iippointment 
 iiiKlcr the seal uf iho iipplicaiit to^c^tlior with tlu; written aceeptaiic.' 
 I hereof hy nncii appi.iiiilee, witli tiie Soi-rotary of Stale. Tho certili- 
 catc shall contain a stipulation agreeing that so long us tluMO mny bo 
 any liability on tho part uf tlu; applicant undtu' any contract entered 
 into in pursuance of any law uf the Stat(( (lonceriii'ig insurance, any 
 legal process alTecliny tho •ipplicant nuiy be served, in his absence, 
 upon sucli I'^'neral agent or upon the Secretary of Slate, and wIkmi so 
 SOI ved aliivli have tlic name cijfo'jt us if anrved porsf)!uilly on such appli- 
 cant in the State. 
 
 It must file in the odice of tlie Secreiiiry of State, in such form and 
 in such detail as he shall [ire.scribe a statonnMit of the business stand- 
 ing and linancial condition of the applicant on the preceiling ihirty-lirs! 
 day of Decombor, signed and sworn to hv said principal, or t)y tho 
 cldef managing agent or ollictjr thereof, before ihe Sicreirry of State, 
 or before a commissioner of allidavits for ."*' irth Carolina, or iieforo 
 some notary public. It shall also lile in tlie ■lillce of the .secretary of 
 State a co|)y of the charter, articles of association, or otluM- .stattunont 
 sliowing the nuxle in which the api)Iicant proposes to do business, and 
 shall pay the license and other fees letpiirtsd. 
 
 y\1jstracts of annual statenuiuts must bo publislied in some iState 
 newspajior. 
 
 Af/t'Hfs. — Evory gen<!ral agent shall file m the odicn ot the 
 Secietary uf State, on or before the lirst day of March in each yei>r, 
 in such form and in such detail as the Secretary 'shall prescribe;, 
 a statem(!nt snowing tlie bu.sine.ss standing and (inanciai comntion of 
 his principal, on the preceding thirty-lirst day of DecemtKU', signe;l 
 and sworn to by said principal, or 'he chief managing agent, or ollicer 
 thereof, liefoio the Secretary of State, or before a cimimissiuner of 
 riri(iavitH for North Carolina, cr before some notary public. 
 
 To.jfcs, — Every gen'u'al agent shall, within the fi'-"* Uiirty days 
 of January and July of each year, make a full and cr n i stut'.'n.ent, 
 undo; oath, of the amonnt of the gros?; receipts d' i from insur- 
 
 ance business obtained from residents of the Sta.;-' i ing the j)re- 
 ceding six months, and shall within the first liftcon di.-ys of February 
 and August of eacli and every year, pay to the Secretaiy vif State u 
 tax of two per cent, upon the amount of such gross receipts therein 
 returned [pnnided, that if any general agent shall 'jxhibit to ti.e Secre- 
 tary of State a sworn statemen;. of investments in real property in 
 the State by his pri,-icipal, or a like state?nent of loans, secured by 
 mortgage to citizens of the State, of an amount equal to one-halt of 
 such gross receipt, the tax shall be only one per cent, the; von). 
 
I8III.] 
 ,KIOH. 
 
 ring to do buai- 
 iliitll lu) a citizoii 
 
 Kih llpIloilltllK'Ht 
 
 ■ittcii nci'cptanc'.' 
 If. Tlio c'tM'tili- 
 us tluMo may bu 
 i;ontrii(;t oiitoivil 
 j; insiinitict', iiiiy 
 ill liis iibseiict", 
 ito. and wIkmi so 
 lly on such uppli- 
 
 in such form and 
 
 ■ busin(!ss stiuid- 
 n'diiig tliirty-lirst 
 loipa), or l)y tlio 
 ■(.•I'cii ry of Stato, 
 rolina, or Ixit'oro 
 tilt' .M'O'ctiiry of 
 r otluM" statcKUint 
 do businoss, and 
 
 10(1 in sonic Stalo 
 
 tlie oflico ot the 
 fell ill each VOi-r, 
 'ifiall proscriho, 
 ciiii coiiMition of 
 )(.'C('inb(^r, .signed 
 X agoiit, or odiccr 
 (.■onimirisionor of 
 public. 
 
 ! fn'-^t i,hirty days 
 en- t stut«.'n.ont, 
 '-'f I froiii iiisur- 
 ■ '.1 ing the piv- 
 h;vs of February 
 rotaiy of State a 
 ; roccip.s therein 
 [libit to ti.e Sccre- 
 real property in 
 loans, secured by 
 il to oiio-halt of 
 . the. .on). 
 
 OHIO. 
 
 105 
 
 L. . »,? T h.ruMfH — 'I'lK' ftM" for liconso is (ifty dollars per 
 
 _fWn mm IjimiSf'*' . . ,, _^ ensu ng twelve 
 
 accrue. , a* * 
 
 shall, upon c.(,nviotion thereof, bo deemed guilty ot y, 
 
 punished accordingly. „;..„;„„i nr ntront Bhall solicit, ex- 
 
 Every ,>cr.on » ,0. mthcr ^j'' 3 LtaKtiu' >, ar au. in ..1. 
 amine, or inspect any risk, or «»' '^' transmit any premium of 
 
 justing any loss, or shall ro'^-^r-Jlf K^J.^S'^ making, or execut- 
 insurance, or shaauoauj^ul....^... .-,-- -■ Uian as fbe law 
 
 the suit of said sheriff. . ,, r i ^.. mfneo to iiorform any duty 
 
 Every general agent ^vho sha 1 fa. or ^^ " « J« f '^ /^I'.^i,^ Jt 
 
 justice of the peace at the suit of said Secretary. 
 
 ASSESSMENT IN8UUANCE. 
 
 cmpamcf, as mch. All »»° ' «°" »" ', bi-iiCTolont aK.H-iau..n. iiu-or- 
 "^ ''"'■'.'i;S»re!td wS 1 noJ »Uci. businc,, t„r„„«>, .«en,a. 
 
 porated 
 
 OHIO. 
 
 ILcgi^lature meet, biennially. Next B'es.lon, January, 1891 .] 
 
 Samuel E. Kem;-, Superintendent of Insurance, Columbus. 
 
 ^^«ToUi°e ?o™pa„y, .how,„g f»X'comp'Sw'?t''»y was .nade 
 ""tSrl*.neTd'fy*oed «,d Ja J. authorising any 
 14 
 
lU(i 
 
 OIJIO. 
 
 »*! 
 
 agent of the company in tluH Siiiic ii> ackiiowlodgp sorvico of procoHs, 
 for and in holialf of the company ; ami conHnntinj^ that aorvice of pro- 
 cess upon any such (.."nt shall be taken nmi held to be as valiil us if 
 served upon the company, and waiving all claim of error l>y reason of 
 such acknowledgment or service ; and in case suit shall ije brought 
 against any company which has ceased to do business in this State, 
 si'.ch written instrument shall also provide thai service of pnxH'ss may 
 be made tlusroin, by the sheriti sending a copy of such process by 
 mail, postage pre[)aid, a<Mressed to the company at tiu; place of its 
 principal ollice in tlu; State where it was organized ; or, in case of a 
 foreign company, add r(!Ssed to the company at the phuMf of its princi- 
 pal oilice in the United States, thirty days before judgment in tlicsuit. 
 
 Every company in its adveitiaenienls shall state only the assets ad- 
 mitted l)y the Superintendent of Insurance, and shall include therein 
 all its Uabilities, including its reinsurance reserve computed a(!cordiiig 
 to law. 
 
 If any company make an ap|)ii('ation to remove any suit or action 
 commenced in a fstate court to any United Slates court, the Superin- 
 tendent shall forthwith revoke its license to transact business m this 
 State, and no renewal thereof shall be granted'for three years. 
 
 Ceftifleafi'H and Afft-ntt*. — Every company, before trans- 
 acting business in this State, must procure from the Superintendent a 
 certidcate of compliance. Such certificate of compliance, containing 
 a statement under the oath of the president or secretary of such com. 
 pany showing tUe actual amount of the paid up capital, the aggregate 
 amount of assets and liabilities, together with the aggregate income 
 and expenditures of the company for the year preceding the date of 
 such certificate, .^liall be published at least once in every yjsar in some 
 newspaper in general circulation in every county where such company 
 has an agent. A copy of such certificate shall be filed in the oflice of 
 the recorder of county in which such company has an agent. 
 
 Every agent before transacting business, sliall procure from the 
 Superintendent a license for each company he represents, and shall do- 
 posit a certified copy of such license in the office of the recorder of 
 the county in which the office of such agent is established. 
 
 All certificates shall be renewed annually. 
 
 Exaniinntions and ImpairtnctttH.— Whenever the 
 Superintendent shall have good reason to suspect the correctness of 
 any annual .statement, or that the affairs of any company are in an 
 unsound condition, it is his duty to make or cause to be made an ex 
 amination into the affairs of such company. If ho deems it for the 
 best interest of the public, he shall publish the result of such exam- 
 ination in a newspaper of general circulation published at Columbus. 
 
 Whenever the affairs of any company are found to be in an un- 
 sound condition, the Superintendent shall revoke the certificates 
 granted to such company to do business in this State, and shall publish 
 a notice of such revocation in a newspaper published at Columbus and 
 in the county where the general agency of the company is located. 
 
 A fire and marine company cannot transact business in this State 
 if, after the company is charged with its proper liabilities and a re in- 
 
rvido of proiJOHS, 
 it aorvift' of pro- 
 be us valid UH if 
 ror by reiison of 
 ball 1)0 broiif^ht 
 s ill this Stat,*', 
 ) of process may 
 siK'li procL'Hs by 
 tilt! placo of its 
 
 or, in case of a 
 (U) of its princi- 
 ;in('iit in tlic suit. 
 ily tlio assots ad- 
 
 inclvulo tborcin 
 iputt'il a(tcor(Hiig 
 
 ly suit or action 
 rt. tli«> Suporin- 
 busiiii'ss m tliii'i 
 reo years. 
 
 ny, before trans- 
 iiiperinteiKlent a 
 fince. coiituiniiig 
 ry of suoli com. 
 il, the aggregate 
 ;gregate incom*! 
 ing the date of 
 iry y<!ar in some 
 re such company 
 d in the oilico of 
 I agent. 
 
 I'ocure from the 
 nts, and shall do- 
 the recorder of 
 3hed. 
 
 - Whenever the 
 [) correctness of 
 npany are in an 
 bo made an ex 
 leems it for tlie 
 of such exam, 
 id at Columbus, 
 to be in an un- 
 the certificates 
 md shall pubHsh 
 it Cohimbus and 
 ly ia located. 
 'iss in this State 
 ities and a re in- 
 
 OHIO. 
 
 107 
 
 ...ranco fund as -.-•'-J/'y j-^^Slh'nl; J.^^^ 
 
 extent of twenty per (.mU ' ' ; ;^'^' ,,;;, ;„ this State if its as-sets 
 
 A Ufo company cannot l"^^''"'"^. /, ^ " i,.„iuai,,j, its premium re- 
 are not equal to its outstanding habihtu.s, inUuUinK I 
 serve asctirtained as ro(iuired by law. 
 
 nr. oud Mai'lne.-y^^-^ry company must posscsB a paid- 
 
 ,,,/-,.-Kvcry -lock con,p.ny n...t P"-7;„£>li',:i;:;r;S 
 State, or tho r'"P«\»'«?^f *"„!'' .„"b»n<l» ■>' «'""» »"" "* ""i 
 
 the officer holding such deposit, slu^wing that M » ^ j^^^ ^^ ,„,!, 
 
 trust and on .leposit for the benei^ °J,^^,^ Z stating that he is 
 
 can Experience Table of '^'"'^^^ 5^' J., 'ti^^ policies outstanding m 
 The Superintendent shall ^'".^"f/y If/; ^ X\!Cao not furnish him a 
 all companies doing ^J^^^";*^^;. "^^^ J^ ' SX authorized by law to 
 
 Ihalby Ao standard of valuation adopted by this State. 
 
 Z^,.W„«.-F.very --F-ny — S''i»„Stc:,'* t 
 Sup«ri».»mU.nt ot «"« I'J'jJ « g 2. , or the benefit, in ease of Bre 
 
 "• 'Se-5;rorjf^fi.j"t^2x^/^'^tioS^ns 
 
 value of its deposita with the several States, ana me 
 
 M? 
 
 m 
 
 _*^ 
 
108 
 
 OHIO. 
 
 invuislinoiitij lieltl by trustuos, tili/,«Mi8 of llio (Jnitcsd Stntos approved 
 by tlic liisiuaiu'c Coimiiissioner, I'or tin- bciiolit, t)f policylioldora in 
 the Uiiitvd States. 
 
 In addition to tlio annual statement, every sueli company hIuiI! 
 annually lilu at the same time a Hupplt^mentary statement showing it* 
 investments, condition, and alTairs in the United States on the preced- 
 ing ;Ust day of December. 
 
 Such supplementary statements must be verified in case of fire 
 companies by the oath of tlu! manager residing in the United States, 
 and in case of life companies by the oath of general agent or attorney 
 in this Slate. 
 
 Drfiosifs, — (See Life and Foreign.) 
 
 l^^'Cft, — For tiling charter of any company, twonty-fivo dollars. 
 
 for (iling the preliminary statement, twenty dollars, and the same 
 fee for (iling each annual statement. 
 
 For oacli certificate of authority, or license and certified copy 
 thereof, two dollars. 
 
 • For any copy of every paper filed in the ofTice of the Superin- 
 tendent, twenty cents per folio; and for aflixing the seal of ofiBco and 
 certifying the sarno, one dollar. 
 
 Any company may pay to the Superintendent two hundred and 
 fifty dollars for licenses to its agents, and may appoint as many agents 
 as it chooses without further charge. 
 
 B\)r valuation of life policies, one cent for each thousand dollars of 
 insurance valued. 
 
 For making examinations of companies, the actual expenses 
 incurred. 
 
 Reciprocal provision. 
 
 Tuxes. — Every agency of an insurance company incorporated 
 by the authority of any other State or government, shall return to the 
 auditor of each county in which such company does business, or from 
 which it collects premiums, in the month of February, annually, the 
 amount of the gross premium receipts of such agency for the previous 
 calendar year in such counties, which shall be entered upon Lhe tax- 
 list of the proper county, and subject to the same rate of taxation for 
 all purposes that other personal property is subject to at the place 
 where located, for the year in which such premiums are received. 
 
 The whole of such tax is due and payable on the 20th day of 
 December next ensuing. It is the duty of the county auditors, in the 
 month of March, to certify to the Superintendent of Insurance the 
 amount of receipts returned under this act by each company, with the 
 rate charged against the same; and the Superintendent in the month 
 of April annually charges and collects from all such companies such a 
 sum as added to the sum payable to the county treasuries will produce 
 an amount equal to two and one-half per cent, on the gross premium 
 receipts of such companies. Retaliatory provision. 
 
 Penalties. — Every person who shall violate the provisions of 
 law relating to insurance, or solicit insurance, or act as agent for any 
 company not authorized to do business in the State, or in any manner 
 
mm 
 
 ()RK(K)N. 
 
 lOrt 
 
 Statf'8 apprcved 
 |)()licyliol(ifirs in 
 
 1 cornpnny hIihU 
 riont Mliowiiig ilis 
 39 on the procod- 
 
 i in case of fire 
 10 United States, 
 g(!nt or attorney 
 
 ty-fivo dollars. 
 r8, and the same 
 
 i certified copy 
 
 of the Superin- 
 eal of oflBco and 
 
 i^o hundred and 
 , as many agents 
 
 usand dollars of 
 
 actual expenses 
 
 ,ny incorporated 
 all return to the 
 lusiness, or from 
 ry, annually, the 
 for the previous 
 id upon Uie tax- 
 of taxation for 
 to at the place 
 re received. 
 ;he 20th day of 
 auditors, in the 
 f Insurance the 
 DQpany, with the 
 it in the month 
 ampanies such a 
 •ies will produce 
 ! gross premium 
 
 he provisions of 
 is agent for any 
 ' in any manner 
 
 „i,l ,h,.r..i., -Imll !..> 1 1" .o.li.....,,.. .x.;.;!"..!..-'!-"""'' ■''•"""• 
 
 „,„l l„„.r,„.n,„..... n..l .;x»..l.nK -.. m™H,". ^,^^,^. 
 
 ;;;;iir :,it;' 'iXi ;);:ili-« -r -, .,.1, .. »...i"- "- ■'- 
 
 thousand dollars. 
 
 ASSr.SBMKNT INSUBAMOE. 
 
 4 , /..;.wi Asm-ssm.'nt companies of other States must 
 AdiniHHhm. -^'^^'^^'^■^'"' ' ^,„;„, nmccss niav be served; must 
 
 Se where it'is organised under hkecondm^^^^^ ^^ 
 
 The conditions of admission ^'^^^^^/^^^^Jf Jj' "o mJdical exam- 
 Ohio companies. Every '^PPl>7^."V^^'„^,Xte over fifteen and under 
 ination, and found to be a good nk "" be^^^^i^,,,,,, ^,.3, i,e „,et 
 Sixty-five years of age; the «^f "«;\"' " „„„t, ^ade expressly for 
 by fixed --"^;;lP^Y7t:;u"r';urgr bonds for tie faithful 
 
 ^iSl^n cTbr^rfrrtr^rSs^of 1^^ assessment.^ 
 
 F^eH -No fees are charged to co-operative associations except 
 
 exclusively. 
 
 OREGON. 
 
 • iLeKl«l.ture meet, biennially. Next B.wlon, Janusrj, IHOl.] 
 
 George W. McBride. Insurance Commissioner ex officio, Salem. 
 
 . , , ' RAfnrn transarting business companies must 
 
 Jfl,w/8«1on.-Be ore tr^"^^^^^^ Commissioner; must 
 
 have ^f 't^h^^ « «f ^^.f^"^^^^^^^^^ dollars, to be kept for 
 
 deposit with the State ^r^a^"'^^^ ""^„ ,ionosit to be in IT n ted Stales 
 thi benefit of creditors m <>f 8°°' \''".f"S county or town bonds 
 or State bonds, or municipal, schoo district county ^^ ^^ 
 
 issued by legal authority in the ftato of Oregon or^ ^ . 
 
 investment of $65,000 in real estate ™Y .^^ "^^^^^^^ • "en and resident 
 must execute .. power of attorney ^PP«"*Xsrmeobo recorded in 
 
 of the State t accept f r^>^«;/" J^^^!"f ^a a resTden? agent. It must 
 the clerk's ck..» >f each county where it has J resmc fe .^^^^^ ^f 
 show to tbe Insurance Commiss oner b^t^^e^^e^^^^^^^^^ department 
 the proper officer of some other estate naving a hundred thou- 
 
 r^i. ofliSool B^uirod oi lib msursnoo compame.. 
 
 V \ 
 
 
 1 
 
no 
 
 ORKOON. 
 
 Animal SfafrinrntM hihI npiilicutiim for liconHc imiHt l)c 
 iiiiulc ti) llio liisui'iitico ('(iimiiisMioii 'V wifliin tliirty iliiys fmiM the lirst 
 of Junuiiry, at which tiino (lonipiiuif's so iipplyiiig sliiill i»iiy to tho 
 coiiiiiiissioiior tlir feo iwiuirod by tho stiitiito. 
 
 ]pa^*Uit{ nations, — Tho Comniissioncr is iiuthorizod tooxamino 
 tho coiuiitiou of conipimics upon compliiiiit of thri'(! citi/.tdis unioss tlio 
 compiuiy prt'sonlH him a curtilicato from some oth(M' Oommissioiicr 
 that it is in sound coiulition liiiiincidlly. If .such (Msrtiflcati! or siilisfin!. 
 tory proof is not forthcoming^ witliin sixty days after demand tho 
 Coranut.^ionor shall rijvoko cijrtificate. 
 
 X//V'. — The Commissioner shall accept the valuation certificate of 
 tho Commissioner of any Wtiite in which cotni)any is organized. (!oni 
 panies may appoint agtmts to colloct premiums oidy oa payment of 
 five dollars for certificate. 
 
 Vt'f'H. — To Commissioner — 
 
 For tiling power of attorney and issuing certiiicute. five dollars. 
 Kor annual license to fire insurance company, fifty dollars. 
 For annual license; to life companies, one; hundred dollars. 
 For examinations, expenses incurred. 
 
 To treasurer, ten dollars for filing certificate of deposit, and ex- 
 penses of printing notices. 
 
 Foi'ciffn. — Companies, except marine, must have deposited in 
 the United States at least two iiuudred thousand dollars, licfsides fifty 
 thousand in Oregon. 
 
 Tn.X'rK. — Fire and marine insurance companies must appoint a 
 general agent to whom all other agents in the State shall rejiort, and 
 who shall, on or before the first day of March in each year, furnish tho 
 Insurance Commissioner a sworn statement of the total business trans- 
 acted by such company within the State of Oregon during the year 
 ending Decemlxjr iilst prior thereto. Such statement shall sliow the 
 total gross prennums received during tho year, from which shall bo 
 dec'ucted returned premiums, re insurance, agents' commissions, office 
 expenses, and licenses, and losses paid in the; State ; and every such 
 foreign fire and marine insurance company shall, within thirty days 
 from the date of such annual statement, pay to the Insurance Commis- 
 sioner a tax of one per cent, upon tho total amount of not premiums 
 received by it u|)on business done or risks assumed within this State, 
 as shown by its animal statement, and shall pay the Commissioner a 
 fee of five dollars for filing such statement. 
 
 J*en<llth'H, — r'or deceptive advertising, five hundred dollars fine. 
 P^or doing business without authority, five hundred dollars. 
 For violation of any other provisions of tho law, a fine of not less 
 than one hundred nor more than five hundred dollars. 
 
 ASSESSMENT INSURANCE. 
 
 The above requirements apply to assessment companies, except 
 secret and fraternal orders. 
 
PKNNSYIA'AMA. 
 
 Ill 
 
 liceriHi' must \w 
 
 iiVH fmiM tlio lirst 
 ' sliiill piiy Id tlu! 
 
 orizod to oxamino 
 ;iti/(!ns unloss Ihn 
 KM' Ooimnissioiicr 
 ilicatc! or siUisfiic 
 flur domaiul tlio 
 
 atiori ccrtificatoof 
 orgaiiizcil. (!oin- 
 ly on paymunt of 
 
 ,(>, fivo dollars, 
 y dollars. 
 I dollars. 
 
 (lopusit, and ex- 
 
 liavo deposited in 
 liars, liesidoH fifty 
 
 iS must appoint a 
 ) shall ri)j)ort, and 
 1 year, fiirniali the 
 tal business trans- 
 1 during the year 
 3nt shall show tlio 
 n which shall bo 
 ominissions, office 
 1) ; and every such 
 A'ithin thirty days 
 isuranco Conunis- 
 . of net premiums 
 within this State, 
 i Commissioner a 
 
 indred dollars fine, 
 
 ed dollars. 
 
 a fine of not less 
 
 s. 
 
 companies, except 
 
 PENNSYLVANIA. 
 
 [LrtfUliitiiro mo«lH bli-tml»lly. Next «k»1oii, Jaimiiry I, IHUl.l 
 J. M. KoHrtlKK, Insnrawr Commissionrr, 11 MlltlHHlUii. 
 t.tmi^Mlon — Kvcry company .>sirinK to transact bumness in 
 ,,,^]^:::^Z!!o'l' >.U^nJ^^ ..uLt me wtl. the insurance (V„nm.s. 
 
 sionor— . ■ » 
 
 A certified conv of I's* charter. • i .., 
 
 A -h, "...t vonli.',n.yll.o»iKiialuri.«iul "alliH .,t ll>,. i.rcM.I.'i 1 
 
 „,. vt,",' ",;i™t ■M.a «.ral»ry ..r ,u:.n,u-y »l tl,,. c....M.»..y, »lu,vv,ng ,1, 
 
 *r:Ht;;'':uH»ti ,.„iy i..-.,,..,i ..y n„. .■,.,ni«„y .^^ 
 
 company in this State. 
 
 rt-t'titirah'H and A^ft'nts.-i^'^^'ry company, before trans- 
 actirut b.Hiues n this State.'n.ust procure trom the Comnnssioner 
 cS-a^e of authority showing that such company is author./.ed to do 
 
 '^::;;ichS;^nyshan from tin.e to tune certify to tl.C..m 
 missioner the names of the agents appou.ted by it to sol.ut nsk^ 
 
 ""\>.>;y such agent, before transacting ^>^^^^^^^^-^ j!^' ^y ;'^,;;Z^ 
 pany shall procure from the Commissioner a certilicato of au ho ty 
 showing that the company has complied with the requirements of law 
 and that he is duly appointed its agent. 
 
 All certificates must be renewed annually. 
 
 sion^forprll "cause ly visit /nd examine any company domg 
 busines i^Ahis State, provided such company is not locate.l m a S ate 
 w?etbe substantial provisions of the act of t'- Sta^« /"^lUed^ A"^ 
 Act to Establish an Insurance Department are enacted Whenever 
 he shall deem it for the interest of the public he shall publish to 
 result of such examination in one or more publications in this b at. 
 He shall revoke or modify any certificate of authority granted to o 
 Sia f of any «uch company: whenever its assets are insulhcient to 
 Sfy its continuance in business, or when any conditions prescribed 
 
 '^ 'tI'£:^S:S^::^:^^^^^^ company, aner tj. ^ 
 pany is changed with all debts and claims against it and the sum 
 
112 
 
 I'ENNSVIiVANIA. 
 
 roi|uire<] hy law for a ro inHiiriun'o fiirnl m itiipiiirt'il to tho oxtont of 
 twtiiity |ior (•••iiliiin, llu- CiiiiiiiiiMHiniicr nlmll kivk noticK to tim (romimiiy 
 to iimki- j^ootl ilM wlioli' nijiitiil Ktock within nixty iliiyn, iirMi if thin is 
 not tloiiu III! hIiiiII riMjuiru tho company to vv&nu to do bunitu'H8 in thii 
 State. 
 
 If any lif« inHuranco company Han not on hond th« not valiio of all 
 itM policum in forco, awiortaitu'd aH ruiiuiriMl by law, aftor providing for 
 all dobtH and claiiiis agaiimt it. o.\clusiv« of capital stock, tlio Com- 
 misMionur Hhall piil)liHli tho fact that the then oxiMtmg condition uf thu 
 alTain of hiicIi company in b(dow tin' Htandard of legal safoty cHtab 
 lishod by the lawH of this Statu, and Hhall roqiiiro tliu company at onco 
 to c»a8u doing new busineBt). 
 
 /V/v tnul Mttrine. — Kvery company must havo a capital 
 stock paiil in not Ivmh than two hundred ihoiiHand doUarn, or having a 
 capital Htock Iosh than that sum and morti than onu hnndrod thouaand 
 dollars, inuHt havo a Hurplua ovtM- all liabilities Hulliciunt to amount with 
 it» capital stock to said sum of two hundred thousand dollars. 'I'luH 
 provision shall not apply to companies authorized to do business in 
 this State at tho time of tho pasHago of tho act, until the (Irst day of 
 May, A.D. 1881. 
 
 Annual statements must be filed on tho first day of January in 
 each year, or within sixty days thoroafter, showing tho condition 
 and business of the company on tho preceding thirty-first day of 
 December. 
 
 The reinsurance fund is computed a fifty per centum of all pre- 
 miums received on unexpired fire risks having loss than one year to 
 run, and pro rata of all jiremiums received on unexpired lire risks 
 that have more than one year to run; the entire premium received on 
 unexpired marine and inlanil navigation risks. Every policy which 
 contains a reference to the application of tho insured, or the constitu- 
 tion, by-laws, or other rules of the company, either as part of the 
 policy or having any bearing thereon, must have attached thereto 
 correct copies of the application or of such constitution, by-laws, or 
 rules, and unless so attached such application, constitution, bylaws, or 
 rules shall not be considered a part of the policy or received in 
 evidence. 
 
 Ijffe, — Annual statements must be filed on the first day of Jan- 
 uary in each year, or within sixty days thereafter, showing tho condi- 
 tion and business of the company on tho preceding thirty-first day of 
 December. 
 
 Valuations are made upon the basis of the Actuaries' Table of 
 Mortality, with interest at four per centum per annum. 
 
 Tho Commissioner is required to annually calculate the premium 
 reserve of every company which does not furnish, on or before the 
 first day of March in each year, a certificate from the Insurance Com. 
 missioner of the State under whose autliority tho company is organized, 
 showing the value of all the policies in force in tho company on the 
 preceding thirty-first day of December, caloilated on the basis required 
 by the laws of this State, and stating that after all the debts of the 
 company and claims against it were provided for, it had in safe securi- 
 
PENNSYLVANIA. 
 
 113 
 
 tu tho oxtont of 
 
 '.o to tlio <-iiin|iuiiy 
 lys; uikI if IIum Im 
 r> biixiiiuHH in tliiM 
 
 iti not value of all 
 ftor providing for 
 I stock, tlio Com. 
 ; condition of tho 
 sgal safoty uHtab 
 company at oncu 
 
 tt havo a capital 
 illai'M, or having a 
 iiiniiroii thouuand 
 lit to umount with 
 md dollars. TIuh 
 :o do biiaint-HH in 
 il tho (irst day of 
 
 lay of January in 
 ng tho condition 
 hirty- first day of 
 
 :;entum of all pre- 
 than ono year to 
 iio.xpired firo risks 
 tniuin received on 
 very policy which 
 d, or the conHtitu- 
 r as part of the 
 attached thereto 
 Lution, by-laws, or 
 tution, bylaws, or 
 y or received in 
 
 I first day of Jan- 
 lowing the condi- 
 thirty-first day of 
 
 ctuaries' Table of 
 
 m. 
 
 late the premium 
 
 on or before the 
 
 9 Insurance Com. 
 
 pany is organized, 
 
 company on the 
 the basis required 
 
 the debts of the 
 had in safe securi- 
 
 ,i.. .„ .mount .„«.! ... U... nj, v.l,,.. ..t »UJ.. H'*- l^^J^^l^if, 
 
 of the inmuvl. ..r th.> n.nMt.tut.j.n. ''V';^ ! ':,',„ I .arin>r thonum, 
 
 not bo cotisidiired a jiart ol ino poiiiy, ui 
 
 ,V,, Annua. st...,nen. 
 ;;X:th ;:;:;' i;rinMi::^tion an.l busin... of .ho company 
 ,n, U,.> prer..ding thirtyHrHt day of Decoinbor. 
 
 I,' . Vnr fiiiMir rortifiod copy of chartor, tw.-nty.fivo dollars. 
 
 f:;'nii7K':ntl'tatr.nont. or'^-ertilicato in ii.u ther.-of. tw-nty 
 
 ^""S each certtflcato of authority and certified copy thereof, two 
 
 ^''"S':;Z;in oMife insurance polici... not oxceed.ng three cent. 
 
 for .ach ono tlu.t.sand dollars of ^^^^^J^^^:^;^ ,,,,,, „,penHos in. 
 For official examinations of companies, ino numai , 
 
 ncss in this iState. 
 
 Reciprocal provision. 
 
 ^ ir„orv r-nmnanv autliorized to transact business in this 
 
 sioner, under the oath of its presid.Mit or *-<'7 f^y- "' ,^.' " j,,„ y,.ar 
 S"ito -iCX rt.« o"t»o /or ■■e„l..n, on ,uch „™,„,u.,,». 
 
 dT^e'KirLKrrrf r:s si t„eU in 
 
 which such illegal business is transacted. 
 16 
 
 
 
 ill 
 
Ill 
 
 I'KNNaYLVANIA 
 
 AMRMMCNT INNHHANnB. 
 
 Athn inHioii. — AHXfMiiiont roiiipttni«'H of oth«ir Statitii mint do 
 pimii, Willi the liiHiiniiici' Ci>inmii>Mii)nor ft (!i>rtill»nl nipy of itM oliiirirr 
 iir iirticli'n of incnrpoiiili'm, a i'o|>y of it>* Htntcnit'iif of buHincMM for tin- 
 [iiDci'iliiin yi'iir, MWurii to liy tim pn'siilt'iit iiml Ht'cn'tiiiy or liko onicfTM. 
 HhowihK n tli'tiiiN'il nciotint of tln'cxp»'ii<litiiiciH iin«l incoiiif, tliciinimmt 
 of iiisuruiici' ill forcr, its a!*«*vt.s ami llivhilitU'H iii dctiiil, iitul acortiilfiito 
 jiworii to l»y till' pr.'Hi«U-iit ami wcrftiiry or lik« otllcorH, notiitiK forth 
 tlmt it liiis piiiil iimi liuHtlii! iiliilily to pivy itd pnlii!i«» or fiTtillraton to 
 tin- full liiniL iiuiiiihI thcr.'in, n (■('rtilii'iitn from ilu- liiHiiruiicn CommiH- 
 Mioiior or from ii jii<l>f«i or dork of ii court of n'covd of it»» homo StHt<t, 
 cnrtifyinj^ tlmt corponitioiiH or HHH(M'iatioii« insuriiiK livfBoii tliu hwhi'm 
 mi'iit'pliiii, 1111(1 piiyiiiK policioH in full, or providiiiKocoiiiont, indemnity, 
 and chiirtdriMl uiidi-r lh<i luws of I'tinmiylvania, an* UiRally t'ntitlod to 
 do l)unin«ss in itM homo Stato, a copy of iin policy orcortiflcati" of mom- 
 btM-nliip, applicatioriH, and liylawn, which muHt hIkiw that tloath Iomhcs 
 aro, in tho main, providoil for by asmixHinont upon HuryiyinK mem- 
 Ixirs, and it nhail loyally ilt'sixnattt a porson or a^ont roBiding in tlUH 
 State to riM'civo Horvico of procosH for Haul company, or in default of 
 Buch df'Minnation, Morvicc of pro(!osn may Im made upon iho InHuranoo 
 CominiHsioiiur of thia Htate, who Hhall bo doiMiiod its attornoy for that 
 pur|)os«. 
 
 Amnnif Stati'luviltH. — Annual HtatonKMits iiiuHt bo mado to 
 tho InHurancoCominissioncr, under oath, before tho (irst day of March, 
 of each year, a Htateineiil mich m in rocpiirod from like companien oi • 
 gaiii/.ed "within this Stato, and answer such interrogatorioHaH tho Insur- 
 ance CommiHsioner, who shall fiirniHli a blank for tho purpose, may 
 make, in order to ascertain its* financial character an<l condition. In 
 the ev(>nt of its failure to make such statoment, on or boforo tho lirHt 
 day of March of each year, tho C^ommirtsionor shall revoke its license, 
 and thereafter, until such statemont is made, it will bo deemed to be 
 doing business unlawfully in this State. 
 
 fi'^ti, For filinK each annual statemont, twenty dollars. 
 
 For license to do business, twenty-flve dollars annually. 
 
 PenaltlcH. — Any officer, agent, or cmployeo doing business for 
 a company which has not complied with the law is deemed guilty of a 
 tiiisdomeanor, and shall bo subject on conviction to a fine of not more 
 than five hundred dollars and imprisonment not more than ninety 
 days. 
 
 Fraternal societies are not subject to this law. 
 
 
r Stoft'H mimf ilo- 
 py (tf itH cliiirirr 
 
 liiiHiru'MM fur till- 
 ly or liko <ifll<Trs, 
 coihf, tlw'uinoiirit 
 I, iiixl acurtilli-ntc 
 orM, tottinK forth 
 
 or ciTtillratcM lo 
 iHiiratictt CniniiiiM- 
 )f ifn homo Stiitt!, 
 ivi>H(>n tho aMH<>HN 
 •iilont, indemnity, 
 ogaily »'ntitlo<l to 
 ortillfati" of mem- 
 that (ionth Iohhch 
 
 Hurvivin^c m«'in- 
 ; roHitiing in thi^ 
 , or ill ilt'fituk of 
 un tho lr>Hiiraii(-(> 
 
 altoriioy for that 
 
 !i muHt hu mailo to 
 IrHt (lay of March, 
 kit companioH oi • 
 ;orioH aH thti Insur- 
 tho [iiirposo, may 
 11(1 condition. In 
 )r boforo tho (irrtt 
 rovokt) its license, 
 bu deumud to be 
 
 ity dollars, 
 iiually. 
 
 doing business for 
 loemod guilty of a 
 a fine of not more 
 Hioro than ninety 
 
 RHODE ISLAND. 
 
 ,11 , /„.rni;ice C'o"»mM<l'<n«r, I'liOVIPKNCK. 
 
 WlllUM C. lowNHKNU, InK'-rinite uo. » •- i 
 
 . . "/ ; .. Kvurv cunn-any du-Miiing to lnin.tt.a buiinen- tu 
 
 A corlillrd copy of it« '•»'''''-"'"; , , rc^id.'i.t and M.-cn-taryof 
 
 the company, nhowmg t u, -"" " ' J^' ;„ <\.,..,n.HMon..r of ti.i. 
 Kvery rotnpuny Hhall '|H;'; ';.';,,"' .,v,c.. of l>ron..H againnt 
 
 :rs,:;'ff, ;"S,;r:::y3.:ir:.:.i: .u:Vj^...u »..„ ! ■ 
 
 miHMioiier. , . 1 i..,ain..iui In the State mIihU tnakf con- 
 
 ,j:';;ri::i:'oV:i-S'"-'""y''' • '"-••■" 
 
 airDiUH. . . „ 
 
 , i...,,.f- - Kvery agent iM-foin tran'^ncting 
 
 „,„bU.l. . l.ra..oK »«"'",?; .''' '',;[,|'r;,, l,,y MmmuT in ™B<'M»t.n« c;.„. 
 U,;,; o^fmsurance or -;"«"-nc«. o '1- b' -^,f' ..^ ,,„„, ,„;; 
 „,Burance or ro-.nHurance ;> ' ^ ^;;*^ l^ance compat.y tu.t iticor- 
 receiving compenHat.ot, ^''""^'^ '' , " "^7j;"atul vvi... is accountable to 
 poratod under t- -J -r, ^^^^^J^l^^Lu^ for proudutns 
 any agent m this htate 01 amu a «iil)-airent. No person 
 
 reJeivSd. shall be known and dem^na da a^^^u^^ i„eoril.rated 
 
 shall act as a sub-agent o/.'^'J ' "7;,"'; la procured from the In- 
 under tho authority of thm ,':'.'\"' ' ^'' ",! fy 1 1,, act, for which he 
 Burance Commissioner a ^^^^'j"; '^'\\^;"^,'';7 ,^o^^ute. S>.ch certiticato 
 shall pay two J'^^lr^'^u;tVtl.e tirrday .1- Ja.uiary next after the 
 shall continue t.. ^f ''« "^'^ir'/e tie person ..amed therein to negotiate 
 date thereof, and shall author /eUuer ^^ ^^_^^ j^^^ 
 
 contracts of ---^^.^ ^.^rrS u.^ tho aiShority of this State, 
 insurance company nt.c^po^:at.u ^^^^^^^^^^^^ ^^^^^ age.it has. 
 
 romplied^ith all tllie other requirements of law. 
 
 Fire and ilfar/ne.- Every company shall possess a capital 
 of one hundred thousand doUerB. 
 
)\n 
 
 lUKMiK IHIiANi) 
 
 Kvnry tiro riirti|«ny mIiiiII IIIi< itit ikiiimitl NtntMiiiciit tmtUo tint ility 
 of Jitnuiiry in tmvh yi'ur, or witli'ri thirty <lay»» »lii'r<'iifti>r, Nlniwiiig iIh 
 buaiiiim* nnd it* tixKct coiuliiiun mi ilx* prvcudtiig Uliit liny u( 
 IXicombor. 
 
 Kvnry tnaniin rummtiy mIiaII flln lt« Hntuwl utatfltiiftit on tlm Urn* 
 <lfty of .liiniittry of i<iuli yenr. or within ihiity liayo tlmiouftfr, nhi wing 
 Um htmiiii'MM itml cotuliiioti on Ihn pr ftxlin^ lllKtiUyof ll«<*i>ri>)i<>r. 
 Th«» CoininixHioniT whitll tmimiilly in thi« iiioinh of Kobniiuy puhlinh 
 in |)iiin|)hl<>t form an uhxtnict of thn MhitiumtntM lllu<i in hi" oillou; thu 
 iiX|M<iiMii thiTuof to Ih> pHi'l liy t\w compttiiii'M. 
 
 /i//V'. — Kvi'ry coinpuny tiiiiHt po<«Mi>HN oiii> hiitKlnni thoiiNiiiui ijol 
 itti'M III f(ooii uinl Hufi) Htorlc^ or >«'(niritir>M, utnl dcpoHit thti Mitiiic with 
 thu Auditor, (.'otiiptrollnr, or chinf liiiuiii'inl of1i<;i<i of tho Stiilo liy 
 whoMtt inwM thi) (-onipiiny Im incorpomtt'd, itiid fiiriiiHh tho ^onornl 
 TrtnMiirnr witti tli-.tcortificiito of miicIi ofliicr, iiiidfr iim hand and olllciKl 
 Muai, Mhowin^ tiint hi* holdx Miich nIocIch and Hi'curitit'H m trtiKt and on 
 depoHit for tho (x'nclit of all tho policy iioMorH of niicIi (Company, Kiving 
 tbo ititiiiH of Hiich Huciiritius, uiid Htatin)^ that In* in HuliMJiod tliut hiicIi 
 ■uCUritiuH nru worth one hundrod thoiiNiind dollarM. 
 
 Annual Htatoini'iilH Bhuil bo litod on lint liiMt day of January in ttiicli 
 year, or within thirty dayii tht«r<>aft<-r, hIiowmi^ th*t litmint'HH and tho 
 exact condition of tluMoinpany on thn priTtMlin^ ;tlst day of Dt'ctf-inhiT 
 
 TliH iigontH of Nuch company Hhall publisli an abntrnct, to b« 
 approved by thn Iimuraiuu) ('oinmisHioncr, of itH stateinitnt in hoiiio 
 nowHpaper printed in the county in which ho Iihh lim place of buHineaM, 
 once a wo<tk for threo weeks succoHsivoly in the month of March. 
 
 JPvvH, — Upon tlio deponit of charter and preliminary Htat'-nifnt, 
 there Hhall be paid the hiiiii of thirty dollui-H fur tiling charter, and 
 twenty dollars for lilin^ Mtateinent. 
 
 Kor iiliuK anniiul statement, twenty dollarH. 
 
 For certificate to agent, two dolIaiH. 
 
 For copy of service of proccHS, two dollarH. 
 
 For examination of companioa, t' ict id oxpeuBOb incurred. 
 
 Kociprocal proviHion. 
 
 Taj'VH, — Every agent shal' ' r" '• t^' month of January in 
 oacli year, make returiiH to the general TroaRurer of the amount 
 insured or procured to bo iimured by him in this State during the year 
 preceding and of the amount of premiums received and assessmcnta 
 collected during the same period, and shall at the same time pay to 
 the general Treasurer a tax of two per cent, on the amount of such 
 premiums and assessments. 
 
 Reciprocal provision. 
 
 I^eualfh'H. — Every person acting as agent for any company 
 W'.thin this Htate resfiecting the issue of any policy of insurance, when 
 Buch company has not complied with the requirements of law, sliall bo 
 fined not less than three hundred dollars, nor more than one thousand 
 dollars. 
 
 Any agent of any company doing business without complying with 
 the requirements of law shall be fined one thousand dollars. 
 
HOIITII CAlUiUlNA. 
 
 m 
 
 it DM tlH« flnt liny 
 ftt-r, Nhdwiiijif iN 
 ing lllHt liny of 
 
 iini'iit on till) (hn* 
 
 DIOuftlT, mIii U l|lg 
 
 l»y o( Ih'OtTiidi'r. 
 
 Kv'bniniy puhliitli 
 
 in hi" oiiicu; tliu 
 
 'ihI thoiiMaiul ilul- 
 
 4lt tlltl MUtlH' Willi 
 
 of thi! SlHl.) liy 
 iiihIi tilt' ^oiiornl 
 
 liaml iiiid olllcifti 
 <H III tniMt, iiml on 
 
 ooiii|iiiny, Kiving 
 iiliHlUid that Hiich 
 
 r Juiiiiury ill oncli 
 IxiHJiii'SN aiKJ tliu 
 lay of i)('(!»'iiilM'r. 
 ul)Mlriict, to bo 
 itoiiicnt in Hoinu 
 |ilu('o (if buHJiieiiH, 
 li of March. 
 
 linary Htat'^m^nt, 
 ling churtcr, and 
 
 B incurred. 
 
 1 of January in 
 of tho amount 
 ) during tho year 
 and HSBtiflsincnts 
 laino tiino pay to 
 I amount uf such 
 
 or any company 
 
 insurance, when 
 
 s of law, shall bo 
 
 lan one thousand 
 
 t complying with 
 oUars. 
 
 dullttr». 
 
 ANaCMMMKNT IN*UHAN<r.. 
 
 t.lu.UMhn, -A« a .-ondition ,.r..n.,|,...t to dofflg hy^n\mm, 
 
 and for tilt. J''^'''''''''''<i>r' ,! '' ^ ,,.rtiil.a.,. and a|.i.li.Hti..n, whi.-li 
 lUpolidim; acony .)( 111. I'""* y '",",' '".^ ..--.Ji ...iifH, ..vid.-..r« 
 
 Annual StatvnivntH .nu«t bo .nado In th« month of January 
 for tho yi'ur ♦ending D.-cuiilwr :»Ut. 
 
 |,V,.H.-Th- aa.no foe. are .harg.ul a. for other inm.ranco 
 cotnpaniua. 
 
 f» ..w.///..- - Atrents ar.< Kubjnct to line of one thounand dollar« 
 for noXVnpUance irth'the law. or for Holie.ting for unauthorised 
 
 "°X' Uw does not apply to aucret or b..novol«nt -ociotiot. 
 
 SOUTH CAROLINA. 
 
 (LfntfUluru meeti •nim»llylnNov«inber.l 
 
 T S Vehnkh, ComplroUer-Gcueral, W.nt.ikov W.luams. Chief Clerk 
 
 in Charge of Insurance Department, Columbia. 
 
 A ,ln, iHHion.- Every corai.any desiring to transaet business in 
 this iu!o!t fire adniission' must illo with the Con.ptrolleM.ene.al- 
 
 ^:«uT^.;^'S.^S'of the president or secretary of the 
 con W Bholrtho capitaU l-bihties of the com- 
 
 P^"^A rSeStpTol ^\X'::^^^on of the trustees or direc 
 vocable until another is made. 
 
IIH 
 
 HOITTII CAROLINA. 
 
 Crrti/ltaft's omf .lffcnfs,— \t hUhW not l.f liiwful lor any 
 insuruiicc coniiuiiiy n-'t incoi iiomtcMl under tin' laws ol' this Stato. or 
 any ayent of such conijiany, to tiikc risk * or tiansact any liiihint!;.s of 
 ii.stiranc*' in lliis State without. Iir>t obtaining a licci'.x! from the ( 'onii'- 
 irollcrCJi'Ui'ral, whicli liconso sluili servn tliroui-riiout tlio Stuto, ami 
 autlioriw sucli company, or agents Hicrcof, to fake risks or transai.'t 
 any husincss of insurance' in cacli ami every county (jf tiiis Stall-, and 
 t.he sume shall lie i^ranted so as to expire on ihelilst of Man-h of 
 oacli year; .'•aid license si. all f;ive the company the power and authority 
 to ajspoint any numlior of a>.ceiit8 to take such ripks, or transact any 
 husinc'ss of insurnnco, in eacli and every county of th.e State; /iroritln/, 
 the ("ompti'oller-tJeneral is notilied of such ap[i(>iiitment before the said 
 a^?ents take any risks or tran>act any l)usim-,s as aforesaid, ^^ivin^? the 
 post-ollice address, residenc*!, and a certitiod copy of tlie resolution 
 appointing oach a^;<!nt. or ap'nts, duly signed by the presid'snt and 
 secretary of sucii company. 
 
 Any person who shaJl transact any 1>usine,sa of insurance in this 
 State for any company of the United .-states or foreign state, not in- 
 cor])orated by the laws of tills State, without having first obtained 
 liconso by law required, or after liis license? has been witlidrawn, or 
 shall in any way violate the foregoing provisions in relation to licenses 
 of insurance conipanies or agents thereof, shall, upon conviction in any 
 court of comjietcni jurisdiction, bc^ lined for every such olTensc- not 
 more than one hundred dollars. 
 
 Licenses are not transferable. 
 
 Z'V/v, Mtwhfv, tniff Lff*', — A ni.ual statements must be filed 
 with the C'omptroller-(jcneral, and jmblLshed. 
 
 Life companies that shall receive premiums on any policy for two 
 years shall lie deciined to have waived any right to tlispute tlit! truth 
 of the application for insurance, and the application shall be taken to 
 be true. Sucli companies are authorizeil at any time within two years 
 to api^ly to vacate any policy on the ground of falsity of representa- 
 tions in the application. 
 
 Ft'CH, — For every license or certificate issued to any company, 
 fifty dollars. 
 
 TaXi'H, — Each agent shall annually, between the lirst of May and 
 the twentieth of Jmie, return to the x\uditor of the county in which 
 such agency is located a sworn statoinent of the gross receipts of such 
 agency for the year ending on the .31st day of December in each year, 
 togetlicr with all the value of any personal property of any company 
 situated at said agency, and shall be ciiarged with ta.xes on the amount 
 so returned at the place of said agency. Agents are personally re- 
 sponsible for this tax. 
 
 Columbia imposes a license tax of fifty dollars for the first thou- 
 sand dollars in premiums and thirty dollars for each additional thou- 
 sand. 
 
 Penulties, — P^very poreon or corporation violating any of the 
 provisions of law relating to insuranc^e shall be subject to a penalty of 
 not less than one hundred dollars nor more than five hundred doUarc 
 for each offense. 
 
 
TENNESSKB. 
 
 iia 
 
 ■ lawful lor iiiiy 
 )!' this Stiito, or 
 any liMsiii<!;.s nf 
 : from the ( 'uiiip- 
 ;- tlio Stiiti!, mid 
 isks or transact 
 i' I Ills Slutr. mill 
 I si of Miin-h of 
 Mil' and luUiiorily 
 or transact any 
 Htiitc; /trovidci/, 
 t Ixifoi'i! the said 
 I'Siiid, ^ivin>? tlit! 
 f till! rosuliUitin 
 i( ]iri;sid«!nt and 
 
 isiirancH in this 
 gn state, nol in- 
 g first ohtainod 
 1 witlulrawn, or 
 ilation to liconses 
 ;onvi(;tiou in any 
 iucii olTenso not 
 
 jnts must bo filed 
 
 y policy for two 
 isputi- th(! truth 
 ihall be taken to 
 within two years 
 y of representa- 
 
 o any company, 
 
 t first of May and 
 :;ounty in whicli 
 receipts of such 
 ber in each year, 
 of any company 
 es on the amount 
 e personally re- 
 
 )r the first thou- 
 additional thou- 
 
 ating any of the 
 t to a penalty of 
 hundred doilarc 
 
 ASrtEBSMKNT INKUKANCB. 
 
 A,,oss,nen. companies must coinply -l^lj^ l^^^^l^^^^SteJ^S 
 application must con,..n a -f ''-\,:;^y,;: , :E for the pre- 
 
 ,,,1,, of '-=-J-;';r;;;;i:!'\i. 13 secretary, or like oflicevs^ 
 ceding year, swoin to l'>/''I l';,ij,,,j., ^,1,1 inc.)nie, the amount 
 .howinK».leta.ledacc<^.^^ Uk^- -^^^^^ 
 
 of insurance m fone its, abscts a"*^ » y^ ^y g,.tti„g forth 
 
 sworn to by the l'>7;'-'^".';;^ • ^^ t^;J' i'p..licies oi certificates to 
 that it has paid, and has the '^'" J ''" ^ '/fron the Insurance Commis- 
 the full limit named therein; '^^.'^^'^^ V .record of its h.mio .State, 
 sioner, or a judKo or a clerk ot ';- <;";;.";„,• ;,',: 1 ves or property 
 
 certifying that -^7'-;;;:'".d 'tS^r - i- '» ^'l^' ^ ^^''"''''^ 
 on the assessnii'nt plan '\"*i. '"J"*',,, L the laws of this Slate, are 
 accident indemnity ami l^''^^^^''^^' '"' 'Vs'n, ?. a copy of its poli.-y 
 Lgaliy entitled to '1^' \'"«";':^^ ' Vnl JS^ ^vhich must 
 
 ^L^SiraS ^sSt^dSro;S?o :;::ui. :cddeL ar.: m the main. 
 tZi£^^ii~.. ^^:^^:SjCX.n authorised 
 After any such ^"'"^''^.r .^ J^krannu^^^ to the Comptroller- 
 to do business in this State ^.f ''^';,'^',^^,'J'7 M^^ch of each year, a 
 General, under oath, before \1'«J ^fj^^'fy, °;^nee department of the 
 ,tate,nent such as is ''''•1^'^^;^. ^''^^ "^S the Comptroller- 
 home State, and answer such "Jj^^P^^^p^,,,,,,^,, character and 
 Genera?, may make in order " «^f "^ ^ '^^ , .^.^p.^y or associa- 
 condition; and in the event of lae f. Im^^^^^^^ I y^^ ^^^^^^^ ^^ 
 
 tion to make suc^i ^^^^/'"{r!. Vonll all evoke its authority and 
 
 TENNESSEE. 
 
 [Le«iBlaU.re meets blenuiuUy. Next «e»B>on. January, 1891.) 
 M. V\ House, Insurance Commissiomr, Nashviij.k. 
 «,/»i;ss/oi» -Every company desiring to transact business in 
 this'stat Core u'ln,^ with the C^omm.ssioner _ 
 
 ^'^^^raS:d ::py.of its f^^^^:i^^:^'tu., pvoced. 
 
 J\SSS t^^^ Z:^^^^^ -etar, or oUier 
 
 president and --^^l;^^^^^^^^^ 
 hfe companitsand the l"«'i':^"'^\X" ^ for and in behalf of the com- 
 panies to acknowledge service of P'°^^^^ Jf "," ^^e Secretary of State 
 Jany, and consenting that service of 1^ "' ^^ "'^^'^^^Xu be taken and 
 or insurance Commissioner, as the taso may o.., su 
 
 il^ 
 
 t1 
 
 m 
 
120 
 
 TENNESSEE. 
 
 hold as valid tin if Hcrved upon the company, and waiving all claim of 
 I'lTor by reason of such service. 
 
 CrrfiprofrM tnift Af/rnts. — Every company shall rortify to 
 tli(^ (.'nmiiiisHidiier the names of all ajjents appointed in this Statu, and 
 the C'()nimisHionor shall issuo a certilicato of authority to such agents, 
 authorizing them to transact l)usineHS for sudi company. Every life 
 insunnice company shall procure a license from the Insurance 
 Commissioner. 
 
 All certificates and licenses shall he renewed annually in January. 
 
 Agents of all companies, exc<'pt life, sliall deposit acoi)y of the cer- 
 tificate of authority, duly certilied, with the clerk of the county in 
 which the oflico of th*; agent is located. 
 
 It shall not he lawful for any person or persons to act as agent, or 
 solicit risks, or in any way, directly or indirectly, to transact the busi- 
 ness of insurance without first olitaining a certilicato of authority from 
 the ('ommissioner, and depositing a certified copy of such license in 
 the ofiice of the clerk of the county in which the ofBco or place of 
 business of such agent or agents may 1)0 ostalMished. 
 
 The Insurance Commissioner is autliorized to issue to any diily 
 authorized agent of the Statt>, in consideration of the yearly payment 
 of fifty dollars, in counties of fifty thousand population, or more, and 
 twenty-five dollars in counties of less population, fee to the Commis- 
 sioner, a license which shall hv. renewed annually on the first of Janu- 
 ary each year, and subject to revocation at any time, permitting the 
 person or firm named in said license to act f.3 agent or agents, and pro- 
 cure policies of fire insurance for themselves or others on property in 
 this Staie in coinj)anies which have not complied with the laws of the 
 State; hut before any pi^rson, or firm, shall act as agent or agents, 
 under or i)y virtue of said license, and procure policies in said com- 
 panies, he or they shall execute an aflidavit in duplicate, one of whidi 
 shall be filed with the insurance department, and the other in the 
 county court clerk's ofiice of the county in which tlie property pro- 
 posed to bo insured is located, setting forth that the person or corpora- 
 tion desiring insurance; is unable to procure the amount of insurance 
 requireii to protect the said property owned or controlled by the said 
 per.son, firm, or corporation, from the insurance companies duly author, 
 ized to transact business in this State. The agent or agents who, by 
 virtue of .sai<i license shall place any such insurance or procure policies 
 in any such unrepresented companies, .sliall keep a separate account 
 thonsof, open at all times to the inspection of the Superintendent or 
 Commissioner of insurance, showing (1) the exact amoun.; of such 
 insurance placed for any person, firm, or corporation ; (2) gross pre- 
 miums charged thereon; (.1) in what company or companies; (4) the date 
 of the policy, atid (.')) the term thereof. Each person or firm receiving 
 such licen.se shall before transacting business, as horein authorized, 
 execute and deliver to the Insurance Commissioner a bond to the State 
 in the penal sum of one thousand dollars, with such sureties as the 
 Commissioner shall approve, with a condition that said agent will 
 faithfully comply with all the requirements of this act, and will pay 
 to the said Commissioner in January and July of each year the sum 
 of two dollars and fifty cents upon the hundred dollars, and at that 
 
TENNKSSKK. 
 
 121 
 
 iving all claim of 
 
 ly shnll cortify fo 
 in this Statu, iiiid 
 y to sucli agents, 
 lany. Every life 
 the Insiiraiico 
 
 nally in January, 
 icopy of the cer- 
 )f the county in 
 
 > act as ag«;nt, or 
 ransact the busi- 
 )f authority from 
 sucli license in 
 ifBco or place of 
 
 sue to any chily 
 3 yearly payment 
 on, or more, and 
 a to the Com mis- 
 he first of Janu- 
 \ permitting the 
 
 • agents, and pro- 
 rs on property in 
 1 the laws of the 
 igent or agents, 
 ics in said com- 
 te, one of which 
 ho other in the 
 lie property pro- 
 )rson or corpora- 
 iint of insurance 
 ollod by the said 
 nies duly author. 
 
 • agents who, by 
 procure policies 
 
 H^parato account 
 iperintendent or 
 aniouni; of such 
 I ; (2) gross pre- 
 iiies; (4) thedata 
 sr Hrm receiving 
 *rein authorized, 
 wnd to the State 
 1 sureties as the 
 said agent will 
 !^t, and will pay 
 zh year the sum 
 liars, and at that 
 
 ra. upon the amount <^{ f'Z^:^::^:^^ P^^^^^^^^^ 
 „p.,n all polices I'r'"-"red ».y such a^^^ei ^,^^.^^ | ^^^^^ ^^„ ^.^^, 
 
 .nonths P>'>-.«\'''"^.^«*^^;*,^;"^l;i., n« .in State on property locate. 
 
 Hurance policies issue. \"/«"''' " " ' 'k,,! ,vith the re.iuir.-ni.'nts of 
 ,„.r..in by companies that I'^ve 't ..mp ^ t ^^^^^ l ^^ .^^^ _^_^^j ^^ 
 
 ;|:\S:^t irSi"-: -ept -h as .... .oen procured in the 
 manner ef this act provided. . ^^^^^^^^^.^ 
 
 sioner. when.-ver 1..^ shall .Uxm -M' - f if j^ ,u,ui 
 
 affairs of any ^'onipat.y transacUng -sm^^^^^^^^ ,^,^ i„ 
 
 app..Hr fr.,m such '.'^'^''^''^ !^" ^' j^i -r sha 1 nw.)ke all autlu.rity to 
 an unsoun.l cndilu,... "^" ^'"'"" f^ X..'"' i„ this State, an.l cause a 
 Zi;£S:^:^T.X;J^^^:^^^- three times ,n some n.,ws. 
 
 ^-^;;r'u^rc:;;r;:;y^ 
 
 ^r^S::Zi^r.y . m an -oun.l ccmd.i.m^iMt ;^;^n- l^^ 
 S:S^,'=Pinti.:— '^ei^^ -I- as re,ui.d by 
 
 '''*■ ,r , TTverv company must possess at least 
 
 Fire and ^ff'K^'''::~„2 rZvToi which one bundred 
 two hundred thousaii. ^•"'l'^'-;; J»\ l^^';; state bonds, or bon.ls of 
 thousan.l .lollars ^ •"^^'^^^^''^f , " ' S s^curili.'s to b.> certified as 
 S;iV;hnn^i.'l"rL;^- ^ UL state in which the com- 
 
 pany is organiml. ^ .^j^j j^y of December in 
 
 Annual ^st>Ujn.ei.t^.imst^^l.[^^^^ condition of 
 
 /.//V.-Every company must );;^^lXS ::t^ {>y the 
 amof^nf of one hundn-d tl>ousaiid d^^^^^^^^^ ' .^ nlr f^r^iish the Lm- 
 laws of the State ^^here >\;« "y^^ '^^^^^ ^nicer of the State where 
 missioner a certificate f^«" , ^''"S/of the value of one hundred 
 Siftllr^r];^ f^rSuHty of tl. policyholders of 
 
 ''^'Zral siatements shall be filed on the thirty-first day of Decem- 
 
 bertSl yt. or ^^^:^:^:^^. ,^^ci.. outstanding 
 TheCommission..rshaUanuaallyvam^ Stite, whicb does not 
 in every life company doing /'"^ "f^ " '.'^1^^ seal from the Commis- 
 furnish him a -"-tifif e of valmd on um^^^ .^ .^ incorporated, 
 
 sioTier or Superintendent of tb^ fetate by wn 
 showing the existing values of all outstanamg v 
 16 
 
 1 
 
122 
 
 TKNNESSKK. 
 
 
 All valuatioiiH made by tho Commissioner siiall bo upon tho basis 
 of tho Ainuricati Kxporiomie Table of Mortality, witli intorest at four 
 and onolinlf jicr C(int. per annum. Tlu' stock, or non participating 
 polii'icH of such company may bo viilucd upon tho basis of said i'ablo, 
 with intorost at six per cent, per annum. 
 
 J^^oi'cif/H. — Kvory foreign company .*<liall file with the f'ommis- 
 sioiicr a certilicato undor the hand and ollicial seal of tho chief linaii- 
 cial oflicer of some other State, showin^i: that ho liolds on deposit and 
 in trust for the bent^fil of all the poiiey-hoidora of such company in the 
 United States, stocks and securities to the value of two hundred 
 thousand dollars. 
 
 LhiVHHCH, — Reciprocal provision. 
 
 J'Yrn. — Fire and Marino. 
 
 For filing copy of ciharter or deed of setth'ineiit, ten dollars. 
 
 For (ilinp annual stattiinent, twenty-five dollars. 
 
 For filing additional or suppUtmontal statement, ton dollars. 
 
 P(jr each certificate of authority, six dollars. 
 
 F\)r copies of any paper on file, twenty cents per folio, and for 
 aflixing seal of ollico and certifying the same, ono dollar. 
 
 For cost of valuation, not exceeding three cents on each thousand 
 dollars of insurance valueil. 
 
 For making examinations, tho actual expenses incurred. 
 
 Lif(^ comi)anie.s shall pay tho Commissioner fifty dollars for exam- 
 ining and filing annual statement, and six dollars for each certificate 
 of authority. 
 
 Reciprocal provision. 
 
 Taxes, — Each fire or marine company shall, on tho thirtieth day 
 of June and December in each year, report, undor the oatli of the 
 president and secretary, or other chief officers of such company, tho 
 total amount of premiums received in this State, within the six months 
 last preceding, and at the same time sluill pay into tho State treasury 
 the sum of two dollars and fifty cents on each ono hundred dollars of 
 such premiums. Life companies shall make a like return on the first 
 days of January and July, and pay a tax of two and one-half per cent, 
 upon such premiums. 
 
 Reciprocal provision. 
 
 J^cnftfties, — Every agent doing business for any company with- 
 out a certificate of authority from the Commissioner, or who continues 
 business when authority is revoked, shall bo subject to a penalty of 
 five hundred dollars for each offense. 
 
 Every company failing to make returns and pay taxes as required 
 by law shall forfeit and pay to tho State five hundred dollars. 
 
 ASSESSMENT INSDRANCE. 
 
 Assessment companies must file a statement, verified by the oath 
 of the president and secretary thereof, setting forth that such company 
 has a mortuary or reserve fund on hand not less than the maximum 
 
TRXAS. 
 
 US 
 
 DO upon tho basis 
 
 th intorest at four 
 
 non participating 
 
 .s'm oi. uaiil i'abio, 
 
 with tho Ooinmis- 
 f tiiu chief fiiiiiii- 
 Ids on (lopusit and 
 [;h company in tho 
 of two hundred 
 
 ten dollars. 
 
 ;oD dollars. 
 
 per folio, and for 
 >llar. 
 on each thousand 
 
 curred. 
 
 dollars for oxani- 
 )r each certificate 
 
 1 tho thirtieth day 
 r the oath of the 
 uch company, tho 
 lin the six months 
 he State treasury 
 lundred dollars of 
 return on the first 
 one-half per cent. 
 
 my company with- 
 , or who continues 
 t;t to a penalty of 
 
 taxes as required 
 d dollars. 
 
 trifled by the oath 
 ;hat such company 
 !ian the maximum 
 
 .,r largest policy or cortificate issued by ^;;^^ ^ Z';::; t 
 
 j:sr;:rs;Le:;;:;;rinr:^^ •■ 
 
 -^SK Sr Cr:;r er of ..3.,;. a cenifi;.^coj. 
 
 of its charter or articles of '''7"7"™\'^' ^^J / " 1 s.ion shuw- 
 on the first day of January, a ^t"^. " "V ,. • ..f i..lic.es or .-..rtifi. 
 i"« its linancial c.>.htHm^embn.c „g e^^ ^ 1 ^^^^^,,^^ ^...,,.1 
 
 rates issue.l or "^'***/\'^ "',"•.„' ■„,,„„,... „n.l the aiu.nints paid on 
 thereon, the losses or '^'-'^^h clauns . u m , an^i ^^ ^^_^^ ^^^ ^^.,, 
 
 the same, and the t.^;"nn.ss.o.H.r oi m a . J '^ ^ .^, .., ^,,„i, ,,„ 
 
 dollars fur filing such report; a tie ^ '^ ^'^^ .^ f,„. „^,,, ,,,,t,fi,-,ito 
 
 allowed to charge the further ^^^ , ' ' ^ ' ;, ^ , ^,onts to d- husi.i.sH 
 or license issued at tlu. request of th ton mnyt<^a^ ^^^_^^^^^ ^^^^^ 
 
 i„ this State, and such m^-^J^'^^ ^r mi e I of such agent, 
 whether State, county, or munic p I, \; \'J \,,i,i^ Hj.pli.ntious, or 
 Any person, company, or agent, \v ho f''' "'';'. „,i\\,r,,, are and 
 olTer t.f issue policies or cert^^ficate. "^ '•'Xei ;, any o ganizati<.n 
 deliver policies or certificates m '^^^ ",'.;,"; """^,^,11 C deemed 
 without taking out license as P^ovid t t. • ^^^^^^^^^^ 
 
 dollars per annum, in lieu of all "'''«'■ J;*;-^'''- j^^^s are exempt fr-.m 
 Charitable or benevolent associations or onars a. 
 
 this law. 
 
 TEXAS. 
 
 [LeBi.latnremecU biennially. N««.e.«lon,Jun.mry. 1891.1 
 L L FosTEU, Insurance Commissioner, Austin. 
 
 members. nrosident or vice-president and sec- 
 
 „.a^rrLrpS;riwinrrtnaHio„ .jb»,„o. c .,. 
 
 president and secretory, and »°'''°"f''yX""ome person in this 
 b?»'arrn";\p:n»^^^^^ 
 
 any duly appointed agent in this State. 
 
 r! 
 
1-24 
 
 TKXAH. 
 
 (U'rtiflratrt* ami .If/ri/^w.— Kvory iiiMiimiico roiiipiuiy slnill 
 prnciiro from ihi- Coniiiii.H.sioticr, iK^lon; tiunsncliiig IxisiiKiss, a (N-rtili- 
 cuto of iiuthui'il y, wliicli tilmll bo ruiiuwctl iiiiimully ut thu time of llliiig 
 th« unruiiil Htat(>mt!iit. 
 
 Such ccfl,ifii!iit<i hIiiiII lio piililiKlicl lor llinm hiku'cshIvo weeks in 
 two nt)WS[)iiiit!rrt printed iii tlu? Slate, liaviiig general circiiliiti(»ii. 
 The lirHt puijlicatioii must be madi; witliiu llurty day.s after isHiie of 
 cortilicatu, and uviduiico of the publication must be lilud with the 
 Commissionor. 
 
 All ageiitH, bofons transacting busiiKtss for any company in this 
 State, shall procure I'ronj the (.Commissioner a cortilicate of authority, 
 wliich Hludi bo renewed annually on the lirst day of January, or within 
 sixty days thoroaftor. 
 
 JUxa HI i natioti H a ii (t I m jut I rinrnf s.—Thi^VomimnHioiwA; 
 whou he doemsit expodiont, may examine into the condition and allairs 
 of any company doing biisinoss in this State, and if he is satisfU'd that 
 the alTairs of any company are in an unsound condition ho shall ro' 
 voko the cortilicate granted in bohulf of such company, and publish 
 notice thereof in one or two newspaptrrs published in this State. 
 
 A fire or marine company is in an unsound condition if, after 
 charging it with a re-insurance fund and its projjor liabilities, its cap- 
 ital stock is impaired twenty-live per cent. 
 
 Five and Mtwim', — Annual statements must be filed on the 
 first day of January or within sixty days thereafter. Every such 
 company must possess an actual paid-up capital of one hundred thou- 
 sand dollars, exclusive of any assets deposited in any State or territory 
 for the special bon'>fit of the insured therein. 
 
 The re-insurance fund shall be computed at fifty per cent, for one 
 year, and pro rata for term risks of all premiums on unexpired fire 
 risks, and the entire premium on unexpired marine and inland risks. 
 If any company fails tc pay any execution against it, on a valid final 
 judgment in this State, for thirty days, the certificate of tho company 
 shall be revoked, and it shall not be permitted to transact further busi- 
 ness in this State until such execution is paid, 
 
 A fire insurance policy, on real property, in case of a total loss by 
 fire of property insured, shall be held to be a liquidated demand against 
 the company for the full amount. 
 
 Ijife. — Every company shall possess at least one hundred thousand 
 dollars of actual capital invested in stocks, bonds, and mortgages, or 
 other satisfactory securities of the market value of at least one hundrtid 
 thousand dollars. Every such company organized in any foreign 
 country sh;tll furnish a certificate that it has one hundred tliousand 
 dollars on deposit with the proper officer of some other State of the 
 United States, or shall make such deposit with the Treasurer of this 
 State. 
 
 Annual statements shall be filed on the first day of January, or 
 within sixty days thereafter. If any company fails to pay any claim 
 arising under any policy, within the time specified in such policy, it 
 shall in addition thereto pay not more than twelve per cent, on the 
 
TKXAS. 
 
 I 'if. 
 
 ■I) roinpiiiiy mIiiiII 
 iisiiKis.s, a (MTtili- 
 thu tiiiio of llliiig 
 
 •csHivo wftiks ill 
 ^ritl circuliilion. 
 ^.s iiflt^r iwHiic of 
 J llluii witli tlie 
 
 cninpiiny in this 
 lite of luithority, 
 iiiuary, or wiiliin 
 
 It! (/'oininissioiior, 
 (litidii iiiul at!uira 
 L) is Hiitinfit'il tlitit 
 lion he ishuli ro' 
 my, and publish 
 til is State, 
 lulition if, after 
 labilities, itH cap- 
 
 3t be filed on the 
 Br. Every such 
 le humlred thou- 
 ")tate or territory 
 
 ser cent, for one 
 1 unexpired fire 
 nd inland risks. 
 , on a valid final 
 of the company 
 sact further busi- 
 
 if a total loss by 
 1 demand against 
 
 undrcd thousand 
 id mortgages, or 
 east one hundred 
 in any foreign 
 indred tliousand 
 her State of the 
 Freasurer of this 
 
 y of January, or 
 to pay any claim 
 n such policy, it 
 per cent, on the 
 
 ,|,„ .-lain, ,>Buii.»lll..- '■■•"M""'y- I 7,\ '/J'" i, " ll... .■wlili.»lo 
 
 is paid. 
 
 . ....,# T/# I'CH — Kvcry life insurance company shall 
 p.y'!;if'^;:::i"u"<'Lf £i:Urc.a „L.»r,,ana in ,.vc.y «o„,.y ,„ 
 which it does business, tea dollars. „^i tax 
 
 „, r?ui;ri'i."iir:v:rr;i.;c:'^-i;.!,,,Ly i„ »„.„ . 
 'S'Sur.oriri;« z!tiJ^'Jz:' .-« • ' - »«^' 
 
 taxes. 
 
 tWH,-Vu^^ AND Mah.ne.- For liling certified copy of charter, 
 
 twenty-five dollars. in. 
 
 For filing annual statement, twenty dollars. 
 
 curreJ, not to excoo.1 two hnnaroJ ami htty JoUara. 
 Reciprocal provision. 
 „ .. , „ p»or» niTson violalini! any ol tho provisions ot law 
 
 relafnrt--^-^^^^^ ^y ^ l''" £- '''' ''^" "'' 
 
 dred dtuars nor more than one thousanu dollars. 
 
 AB8KB3MKNT INSURANCE. 
 
 Bv an act of the legislature of 1889, life or health companies doing 
 
 s£'''"snrcr;,r=' p=ro„^o'"=c? S 
 
 OommiBsionorot the i^'"'" '"J"l " "" "i^^a j, authorized to transact 
 that the compa»y h« ^^ V '^iS S °»h "sets as above stated ; 
 
 ^fceS'n^'ZKSS'n t rdliJln, the ,n..in.u„t ..nount 
 
 nesTin thrstate at the discretion of the Commissioner. 
 Pees same as for other insurance companies. 
 
 I 
 
l-'« UTAH.— \ RUMONT. 
 
 UTAH. 
 
 |l.t){liiltttiiriim«i'l«l)tiniiliilly, Nfxt lonloii, .taniiarx 1, 1MI(),| 
 Kluaii Hki.i,h, Sicniitn/, Sait I,akk Cirv. 
 
 AtfniisMlott, — Kvcry cninimiiy miiHt, lllt< with thfi wicrt'tary of 
 
 llio Iciiitury, Mild with the pn.liutc ju.l^jo of the ('oiiiity in which its 
 |>riii(i|.iil ollicc in the territory in hM'utt«l, within sixty days iiftor <'oni- 
 MU'ririii^ Ipiisiiicss — 
 
 A ('crtillcii ccipy of its chiirltT mid hy-liiwt», and of iiriy uiniMid- 
 iiu'iits and aitonitioiiH ihorcof. A (h'.si>,'nation of mouic person nmiding 
 in the ■•oiinty in which its priiici|);il oincc is locat<'d in this torritory. 
 upon wlioin Icf^ai pruccss may in' served. 
 
 Kiich lire iiisiiiaii ■ompany iniHt have a capital paid-ii|i of not 
 
 h'ss than two liiindred tliousan-i (icjiiars. Must, lile with the Secretary 
 u sworn Htut»!inont, giving tho naino, locality, and finiinoial condition 
 of tho company. 
 
 Annual SffffcnU'HfM.— T\\oni.i mnat he made in the month 
 of April, and siiall he piililisheil hy (.nch company on or hefoic the 
 :)Otli day of April of each year, at hast four times in some n(!W8paper 
 pulilished in the territory and having general circulation therein. 
 
 LfvettHt'H, — A liconso foo, $2"), is roquiriid to ho paid for the 
 [)rivih!go of doing business in Salt Lak(! Uity. 
 
 t\'VH. — To tho secretary — 
 
 l"'or tiling Htatemnnts, live dollars. 
 
 For certilicate of authority, live dollars. 
 
 Por allixing cortifuiato and seal, ont» dollar and a half. 
 
 PrnaltivH. — .Any person violatitig any of the provisiom, of : 
 law shall lie guilty of a niisdonioanor. 
 
 VERMONT. 
 
 ILefjlHlature mccis blcnniiilly. Next huhsIoii, IhI WediiPsday In October, 1890,1 
 C11AHLK8 \V. I'oHTKU and VV. {]. Du Bois, liisiinuice ('uiumissiouers, 
 
 MONTI'ELIER. 
 
 All mission. — Every company desiring to transact business in 
 this Statu, before admission shall file with the Secretary of State 
 
 A C(;rtilied copy of its charter and by-laws. 
 
 A statement signed and sworn to by the pnssident and secretary 
 of the company, showing its capital, assets, and liabilities. 
 
 Kvery such company, by a written stipulation filed with tho Secre- 
 tary of State, shall agree that all lawful process against such company 
 may l)e served upon the Secretary of State and shall have the same 
 ellect as if served personally upon the company. When process is 
 
 1 
 
VKKMnNT. 
 
 \11 
 
 m«>. I 
 
 I'V. 
 
 hfi m>(T»'(iiry <il' 
 y ill wliicli its 
 • lays iiftor com- 
 
 of iiiiy iimi'iid- 
 
 perm 111 iimiiliiig 
 
 this tnrntufy. 
 
 pitiil-iip of Hot 
 li iIh! Si.'(!r('tiiry 
 iiu'ial ciiiitlition 
 
 i in tlio tiKinth 
 or bdfiiK' tin- 
 
 <ninr« IKtWSpilplT 
 
 III tlii'rcin. 
 
 10 pttiil for tliu 
 
 ilf. 
 rovisioiiw of : 
 
 ctolier, 1890. 1 
 Cum m issioii ers, 
 
 iact biisinoHS in 
 y of State — 
 
 ; and secretary 
 
 ties. 
 
 with the Secro- 
 
 t such company 
 
 have the sanio 
 
 'hen process is 
 
 H.,rv.Mi on th.. Secr..t«iy of Stut.- it .hall ho ..;rv-,l hy -i-tpH-at.. roi.in., 
 3 .1. "opy Hhall h.. i,n.««.liululy lurwanh-d to th- ....npatiy. 
 
 t.'t'tlllrnlvH niuf ,|f«'i</H.- Kv.-ry cimpany Hl.all, l"f"r.. 
 .,oin;i!.M(' ^^ ol'an;:iu..,..f fiotn tl,n O.nunisHio....... Such hc.iHO. 
 
 Hhail he r.-i.ew.Hl ai.nuaily on tho lir«l day of April. 
 
 notko t.. ill' 1 ■""mi««i..n«». 111.' fo„,mii»...i,or. in«, »u.|»ii.l tUo bu..- 
 nuan o( tlio fcmilmiiy in tliis Stiito. 
 
 h. V H al ."voko the liconses Vh"»'"1 to Huch cn.npany ...ul .ts a^o .ts 
 itfpuhliHh notice thereof in every county in wh.d, the .-otupany has 
 
 "" No'cotnpany can ttansact husin..HS in this State if itH .-apital stock 
 is inipaircfi inoro than twenty per cent. 
 
 Fh'O and MaHnr.-Ym^ry stock company must have a paid- 
 u„ cai tal f o"0 hmulred thousand dollars not le.^s than ""-''f <; 
 whu-h shall 1.0 invested in .-ash securities other than tno.U'.iKes on r a 
 Tst a. a u in additi.m to such capital assets equal to its '"■t"'"''^^^^ 
 Ha lilies ro-in.-.ran.'e reckone.l as ludow. Annual statetuents shall 
 be i Ion or beforn the lirst day of March in each year, ^I'ow'ng he 
 cm lition of the comi.anv the preceding iUst day of December. I he 
 ?" ™c urul shall be con>Uted a. (if.y per cent, of t Mm-mu ns 
 on neKpired lire risks and the eiitin- premium on marine risks t on- 
 ani s'm liabh. for the acts and neghvt of their ap-nts, -s 'c wee 
 uh companies and the insured. If not tnade so by I'^v^-f •'';,; «'* 
 of incorporation, their policies must contain a proviso to that eilect. 
 
 / ,7V' - Every life insurance company must possess not less than 
 „ne h in Irod thousan.l dollars, and in addition '^«-\V''"ll wi 1 
 HabiliUes. reserve reckoiu-d on Actuaries' Tabic of Mortality uith 
 
 •"^7:n;;l/XJ;;;;;rshall be med previous to the first day .-f M.jd. 
 in eacMmr showing the condition of the company the preceding .ilst 
 
 '''^bSrS'S;; assured in any form are prohibited after January 1, 
 1889. 
 
 TnroH — Kvory insurance corporation of another State must 
 
 navTniny in the month of February, and before the tenth day. a 
 
 F»x of two per cent, upon all pre.niums and assessments received in 
 
 he "taefoMhe year ending the tl.irty-f.rst of December preceding, 
 
 deduc?h g from the gross premium re-insurauces ui authorised com- 
 
! 
 
 \2» 
 
 VIIUUNIA. 
 
 pKiiicM, ri'tiirn prnmiiim* on cnncoliol pnlicina, iinutnd halkncM of 
 pri'Diiiitn itoti'M, iirnl iliviili'mtit to poliry-liolilnm. 
 UociprocMil pr<tvi»«ionii. 
 
 FwH, — Kor liliiiK annii.'il flfatniiiriit, twenty iloll.-irs. 
 K(»r ('oiiipaiiy'i* licmmo, (Ivi- ilolliir^^. 
 F'or ft^oiit'H lic«na(>ii, ono (lollur, 
 
 Pt'iHlffif'H, — Any vinlfttiori of iln> act ruIiitiriK to innuranci' Ih 
 
 piiiiiMlintilc liy a film not i>x(MM<<liti^ two tli'iiiminil iloHnrM 
 
 A^t'ntH tranHuclint^ Iiuhjiiosn for miaul lioriismi uonipanii^H, ituhjcRt 
 to liiiu of n(>t morn tliiin live lniri(lri<<| ilollam. 
 
 AHHKHHMKNT INIII'HANCR, 
 
 Kvory compftiiy dosirinj? to do biiMinosH tniiHt com|ily with flio lifn 
 iii8iiraiii'i) lawH; ttxccpt tliat mutual acciilont eoiupanioH may !>« ailtnit- 
 tml with aHM<»t,« or a nmiTvo fiiinl appiicahle to tlic payiin>tit of losuou 
 to thn amount of llfty tliouMaiul dollarH, 
 
 VIRGINIA. 
 
 [Lcglilaluro mrcU bi«ntil«lly. Ni^xt uMiiInn, Dsrember 4, \tM.] 
 MoHToN Mayhic, Auditor of I'iMic Accounts, RiciiMONn. 
 
 AtflHiMnlon, — Kvory company, )u>foro tranHactinj? husinoiw in 
 this Stat,((, shall deposit witli tlio Triiasurcr l«>ndH of tint Stafo of 
 Viif^inia, or hoiids of the llnitiul St'iti'S, or hoinls of the citi»>s of 
 iticliinond, I'c'oisliurf^, LyiK^hhurg, Norfolk, Alexandria, or Danvillo, 
 to till) iimouiil of live por centum of its caiiita! stock ; such deposit to 
 ho no! l(!ss than ten thousand dollars nor inoro than fifty thousand 
 dollars. 
 
 Such dc|)osit shall he accompanied by a statomcnt, under oath, of 
 the amount of capital stock of such company. 
 
 Kvery such company, by a written power of attorney, shall appoint 
 Bomo person, a resident and citizen of this Htute, its aj^ent or attorney, 
 who shall accept, service of all lawful proces.s aj^ainst such company in 
 tliis State, and cause an appearance to be entered in any action 
 against it. 
 
 In case of the resignation or removal fron> tlio State of such attor- 
 ney, until his successor shall be appointed, service of process may be 
 made on the Auditor of State in the same manner ami with the same 
 effect as on such attorney. 
 
 A copy of such power of attorney duly certified and authenticated 
 shall be filed with the Auditor. 
 
 Every such ccmipany, through its attorney, shall give bond to the 
 Auditor with two or more 8uroti(^s, in a sum not loss than one thou- 
 sand dollars, nor more than five thousand dollars, conditioned to make 
 returns and pay taxes as required by law. 
 
WASIIINOTON TKUUrrnUY. 
 
 tat 
 
 IMxl (>alklU'ltH o( 
 
 'AT». 
 
 It to iiiHurKiirn In 
 DtiiptttiifH, Hulijfrt 
 
 iiply with flio lifH 
 ii>H inny !>« uiltnit- 
 ifiyiiH'tit of losmm 
 
 4. iftw.l 
 
 [llCIIMOMI. 
 
 ctitif? husinesH in 
 ( of tint Statrt of 
 X of tlu) citicH of 
 drill, or Diinvillo, 
 ; Hucli iloposit to 
 an fifty ttiouHand 
 
 lit, under oath, of 
 
 noy, Hliall appoint 
 
 igoiit or attorney, 
 
 audi company in 
 
 ]d in any action 
 
 tate of Huch attor- 
 )f procosH may be 
 ,nd with the same 
 
 und authenticated 
 
 give bond to the 
 88 tiian one them- 
 iditioned to make 
 
 llollur. .Imil r .v.. a l.-o..-' " ;«' J .., .,,„„„i,y. ,«.for.. th« 
 
 llftoonth .luy ..f J»»'iiuy, tor Irttction«( . y 
 
 , l/.V. — Tbo Auditor i- Hiithori/,.'.! to 
 
 !;::;;;:V'L:;;:ir;:'':v;,'r,r.':"'.."'' > "■"• "•■ ■ "•' 
 
 annum. , . , . , , ,,_„ ,„|„.r Sl.ut« n-fu"*'* '" r»'"«>iv« 
 
 If tlH. iuHurano. '''P'^'''"': ^ K A d tor of tho polinon of any 
 „, .„ni..i,.nt tiM. vub.nt.o.MnHd. bv ' ^ ' ,, „„„., ^„v.... thou the 
 ,„„,,„.„y of thiH St.il.-. d..in»r buHin.MH u ^,^,..,,,,,11 ,,, hihv 
 
 ,,..,.,li./.,u,Kt.uulin« m nny ••■^i;" ^^ , .fj J , a U il... dir.Hion of .h« 
 
 h.:r'r!.:;;,t;;r;;:yii::u''^';--^ "" 
 
 '" "v^ri^utato nt. «ba.i bo 'ii.-' ;:^^; '";i.^;;;:;;;^;:;; ::; !:;;r-.:S;: 
 
 3Ut day of Mund. in ^i; ',£-•; r^,^ ^U I be v.ri.ied by .b- "f 
 
 p,,„V on the Wl day of itn li«al V^,' 'J „„„.„, ,,,„il b, pubbnh. d for 
 
 ,f its prenidont and m-rretury. Su '' ' ,',„,. 1 i„ Uud.n.ond. at the 
 
 .i. ,L in one of 'i':";'-^-';::;, r ,.d -H'ri-i- l'n.vi-...« 
 
 tt;:.7J;,hp..nan.linkinoronth..poh.-y. „^^ ,„„,, ,,„ 
 
 ,V, ,....- Kvery company .hall cert^^ to ;^«, A,u^U.r m dj r tl,^ 
 
 iween the lir.t an.l >>''^'y' "^ . '"/' '^ i S at •. a..d shall immed.ately 
 au.nunt of all pre.nmnm collq UhI '"J^"^'^,^^, .,,„t. thereon, 
 pay into the treasury of tSe htate a tax i 
 
 Ueciprocal provision. 
 
 nL'tv:r;:fi;:';;: u--. '^""'•'' > "■"" '™' 
 
 """K:; ';:,;;""..;' "T;-.. n™ „.r .-,.„.. » .m.„0, ,h.ri„g ...o en,,-, 
 uanco of such failure. 
 
 WASHINGTON TERRITORY.* 
 
 O C. WuiTB, SvcrHary. 
 Iho mercury ,.f tl... torntcry » 7''^'"^;,7„',, , „,t.,m<,y »t it. princip.1 
 
 ■;rj=:i'tut':sry:nr,r:;. r»ora ,u .p,.»i«-" 
 
 with tUo secretary. 
 
 M 
 
 •UgUJUttW of new 8Ute MW In ••••Ion. 
 
t.ia 
 
 WKSr VIIUJINIA, 
 
 I 
 
 Af(<>n'« I'ltrryiiitr nti hiiiliir>M cnntrnry to Ikw Rri< Kuil'y *>f * mimln' 
 iiKMMioi, Id >m> |)iiniMli)i| liv a ilrii) nut «x«.'«>«>(llng two hiiiiilri><| dollan, 
 or \ty linprtioiiiiii'ht, or hutli. 
 
 WEST VIRGINIA. 
 
 [Laulaliiliir* m>tl> l)l«Mitl«lly. Ni (t ••»iliiii, •icimit Wiiliu'xtay In itMHMjr, imi.) 
 
 I'athu'k !•'. Drrrv, .V<fi/« Amlitnr, C'iiamlehton. 
 
 AtlmlHulon. — KM'ty rdttiimny ilcniritiK t" ♦mtinftct huMiii«>M in 
 tliiM Si.iic, lifluii' ui|iniHi«iiiii iiiiMl tile witli tin* Aiulirnr — 
 
 A Htiitt'ini'iit of lilt) coinlitiuii of tli)- i-oinpuiiy, uii<lur tliu ontit uf thii 
 prusitlt'iit HI' MHTrtury. 
 
 A puwcrof attornoy duly ncknowltt<|^i'(liuiil AittliiniirHtfd, appoint, 
 injf noiiic itrr^oii residing in this Stub' to itc<'i<pt (tcrvico of jumu'ckm tind 
 imtiii' ill this St.itt' I'cir mkIi coiiipmiy, itiid conxciitiiiK that Nurvicii of 
 iiiiy |iiiM'c-t or iiuiicc upon surli porwon, or Ihm iirci-plom'ti of iwrvice, 
 (thull liiivc III)' Hiiiiio t'lT*'(;i iiH MtTvictt on tli)> ('oinpnny. 
 
 t'frfi/lrtiftM intil Affrntu, — Kvi-ry rompany and its ngciitH 
 tnii."! pnicitro from tlio Auditor it ctTtifirnttt of authority, und caunt) 
 the H.inic to 1m' piihliHlu'd in Monn> ni'WKpnpcr of jr<'nnriil (•ir<'uliitiofi, 
 |iiil>lishi'd in this Stiiti', and cnuno a copy of mu^i pulilicntioii to lio lilcil 
 III till' nillcc o| the circuit court in cacli <diinty whcr** miid cutiipuny 
 docs iii.xumnco hu^incHs, Such i-criilicatos nIiuII bo roncwcd annually, 
 and annually puhlishud and illod as aforcHnid. 
 
 I'Jj'fiim'iiufioiiH, — The Auditor Ih aiithorizwl to cxainino tlui 
 alTairs of ;iiiy coiupauy doin^ 'iimincsH in iIuh Statu. Whenever it 
 hhali appear to liiM Hatixfnciion that, the utTaim of any hiicIi company 
 an ill an unsound ciuidilion, he .hIi/iII revoke the cerliiicate of authority 
 ^I'iitited in liehalf of such company and caitne notili(;atioti thereof to lie 
 piililished iti some nowHpftper of general circulation, puhlislmd ut the 
 capital of thi8 State. 
 
 Firr, .}f(H'iin', ami />//V'. — Kvcry company must poHsenH 
 at least olio liuudi'ed thousand dollars actual capital, investod in Hafe 
 Hecurities. 
 
 Annual stutomeiitH hIuUI be filnd in tho month of January, in each 
 year, .showiiij^ the condition and affairw of tho company on tho prociid- 
 \\\)t. 'ilHt day of Decombor. 
 
 I'\'('H, — l^'cr filing and examination of Htatement, ten (lolIarH. 
 K<jr each certificate of authority, five dollars. 
 Reciprocal provision. 
 
 TtfJ'f'S, — Kvery company doing business in this Stato shall, at 
 tho time of filing annual statemtuit. |)ay into tho Stato treasury a tax of 
 two per centum upon the gross amount of promiums collectud in thin 
 Stale during tho preceding year. 
 
WIS* ON.**! S. 
 
 Ul 
 
 guilty of h tnliMln 
 I luiiKlri'il •lollnr*, 
 
 ' In lUnntrx. inni.) 
 
 I.RHTON. 
 
 luiNiict buMinoM ill 
 
 for — 
 
 lur Ihu until uf till) 
 
 I'liticutt'd, appoint. 
 
 il'O of pl'IK'OKH Jklld 
 
 m tliut Mirvicn of 
 'piaiu'o of wjrvii'i', 
 
 my Riicl itH nKfiitM 
 liority, uiui (•uu^»l' 
 •ncriil circuliiiinii, 
 pliciitioii to Im' lili'ij 
 crt) siiid ('(iiiipitiiy 
 ruiivwt'd uniiiialiy, 
 
 ml to cxninino tiu* 
 ito. Whciicvcr it, 
 iiiy «iii;li coinpiiiiy 
 iliciilc of aiitliorily 
 
 lltioll lIuTCof to lie 
 
 1, publiMliod at, tlio 
 
 iiiiiy immt. poHHi^fls 
 I, invcslod in HJife 
 
 f Jnnimry, in each 
 iiiy oil tho procitd - 
 
 nt, ten doilarH. 
 
 fiis Stato nhall, at 
 o tnsasnry a tax of 
 8 collected in thin 
 
 Kv..ry lifo I o« -n.i-.y whirl. ;..jii in-, i;.;';^ ^^ ;:;; 
 
 wholn un.ount of ,1^ n-. " .p - f • ' - ^/ "- ^ ^ J ,^ ,n.»M,n/...d lo 
 
 only ..I." l»»l' "f -»••»' ,1"*, ' '"' .l>, Lmi-aM.m.Vllv .M.oi. |.r..inmiu 
 
 r..,...|ptp. in *«i.l .'ity. An.;ni- •n- ••;'! "^^ , '' \ „„„.„., und to inuk.. 
 
 r.aurn a..d i.ay lo tl..- .Hv Hu.d tax '"\ ;.„,„„„ , ,,„. for tl... 
 
 .,r payin...,. of lax-H or f.-.H «';• ^ "'' ' ^ , „ ,.,r n.o,. .l,un two 
 
 , rils.. rHurn, sl.all forl.Mt .y /T;",, ',.,;,, y ulli-vr or M«.ni of nnv 
 ,„.„dn.d dollar- ''''• '^'^^ ;' ^ , k n'^w < r ....gotial... in tl.i. Sh.t... 
 
 forfoit fifty .loUarH for ov«ry hucIi olT.-nm., 
 
 V .-..,.,i,f .•<.•. .i.aiii«»H iniirtt appoint an nttortu-y ; 
 
 „,„Hi saiiHty lla. Auditor >''''' y\ \^^. „„„,nri/.d m do 1,usi....«h .n 
 ov.r Mxtylivu yarn ol «Kn H ut th > ^^^ _^^^,, ,^,.,. ^,,,,. ,., 
 
 u., Stat., of ti-ir --n;n; ';•/;; ■; , ;,.,i\H\.x.' P' '•"•■ 'I'""' ("^ 
 
 Marcl. lirHt, slu.w.nK<-ondit...n l>.'M.„i..in.. y 
 
 WISCONSIN. 
 
 jCc„..aUro .eou M.nnU..,. Next ,..to„. .eco..a W...n..«.«y tn ....... ,«..,, 
 
 Pu.L CHKF.K, Jh.. /H.'ura«ce f,'o».m»./o„eT, Madihon. 
 . ; Vvorv company <U«iriMK' to tran.a.T Im^inoss in 
 U,.^ffi'.""i^'V>.^rc'SS„ L wi.U U,e 1„. » f «»• 
 
 ""TcTrtM co,,y 01 ... ch.rU. or .W "'J^r °vL.p«.lc„.. or 
 
 „u.o'ieS'S'«ri.-r; oS .tc'o;,.„.„y...,owinK u. .^.i- 
 
 and condition. 
 
I 
 
 132 
 
 WISCONSIN. 
 
 A copy of the last report, if any maelt', uiidor any law of llitt Statu 
 by wliicli Mio coinpfiny wan iiicorporatcid. 
 
 Every .such cuiii|)iuiv .shall appoint in writing, tliu Cominisaiunor of 
 Insiininoo or his .successors in otlico, an altorncy, upnii wlioin all lawful 
 j.roccss can bo served, with liko oil't!ct as if said company i.'.xistod in 
 this State. Such written instrument, in case of liru companies, shall 
 contain a provision thai sucli company will not remove any suit against 
 it in this Stat(! to the United States courts. A copy of such written 
 instrument, or power of attorney, duly (utrtilied and authenticated, shall 
 bo (iled with the Insurance? Commissioner. It is also provid»'d that 
 service of any process may be made on any agent of such company 
 in this Slate, and such service shall be valid personal service upon such 
 company. 
 
 CortififHtvs ami Afimtt*. — i^ivery insurance company shall, 
 before transacting business, obtain from the Insurance Commissioner 
 a license or certificate of authority, which shall be renewed annually. 
 
 Every agent shall, before doing busines.s, procure from the Insur- 
 ance (.Commissioner a certilicate authorizing him so to do. Such cer- 
 tificate, in case of lire, marine, or inland companies, shall expiie 0:1 the 
 3 1st day of January in each year, and in ca.se of life companies on the 
 first day of March in each yuar, and all such certilicates shall be re- 
 newed annually. 
 
 ExainhmtioilH and rtiHjtairntcnfs. — The Insurance 
 Commi.ssioner, whenever he shall deem it expedient, may examine into 
 the condition of any company doing business in this State. Whenever 
 he shall deem it for the best interest of the public, he shall publish 
 tlie result of such examination in one or more papers in this State. 
 If it sliall appear from such examination tliat the affairs of any com- 
 pany are hi an unsound condition, the Insurance Commissioner shall 
 revoke the certificate granted in behalf of such company, and cause 
 notification thereof to be published in the official State paper, and mail 
 a copy thereof to each agent of the company. 
 
 No lire or marine company can transact business in this State if, 
 after the company is charged witb its proper liabilities, including its 
 re-insurance fund, the capital stock of such company is impaired to 
 the extent of twenty per cent, thereof, while such deficiencj' continues. 
 
 No life company can transact business in this State if Its assets, 
 after providing for all its liabilities, are not equal to its premium re- 
 serve, ascertained as required by law. No acicident company if its 
 capital IS impaired to the extent of fifteen per cent. 
 
 Fire and Marine. — Every company transacting business 
 in this State, must possess an actual cash capital of two hundred thou- 
 sand dollars. But mutual companies may be admitted upon complying 
 with the same rules and regulations as mutual companies of this State 
 are required to comply with in order to do business in the State where 
 such companies are organized. 
 
 Annual statements must be filed on the first day of January in each 
 year, or within one month thereafter, showing the condition and aflfairs 
 of the company on the preceding Slst day of December. Such state- 
 
law of tilt! Stall 
 
 Comiiiisaiuiier of 
 1 wlioin till lawful 
 mwiiy i.'xisti!(l ill 
 cuinpauii'S, simll 
 u any suit agiiiiisi 
 ' of sucli written 
 itluiiilicated, uliull 
 30 jiroviih^l lliiit 
 jf such company 
 service upon such 
 
 ce company shall, 
 CO ('omniissionor 
 niowoil annually. 
 I from the Insur- 
 o do. Such cur. 
 lall expiio on the 
 ciompanios on the 
 ates shall be ro- 
 
 — The Insurance 
 may examine into 
 tute. \Vhon(!Ver 
 , he shall publish 
 ers in this State, 
 airs of any com- 
 'inmissioner shall 
 fipany, and cause 
 ,e paper, and mail 
 
 in this State if, 
 ;ies, including its 
 ly is impaired to 
 icienc}' continues, 
 tate if Its assets, 
 
 its premium ro- 
 t coinpany if its 
 
 isacting business 
 vo hundred thou- 
 d upon complying 
 iiies of this State 
 n the State where 
 
 if January in each 
 idition and affairs 
 iber. Such state- 
 
 WISCONSIN. 
 
 13:) 
 
 *;' '"''IXir al .. r p ly « tL. u,n„ ot .ad, 1». aa.l .1,,. 
 
 ''"'rw,:«i;r;;"niu.";r;.t „„iy ,u..i, a.c..» .„ ii--j-.'>;,». 
 
 last filed with the Insurance Oomnussioner. 
 
 '^z;iarK;,!rln=t'it:,i:'rii^^^^^ 
 
 „uJi,„gin a„y .i<« .■o...pa..y £;%S,""X'S«: s'„ ' vl;!: 
 
 ™To'S».rv« ot ,uch compauie. ahall be co,„puted at Mty per cent, 
 nt the gros» premiums upon all policies in force. 
 
 r-i-piuj. - Kvery company shall file evidence with the Insuranc. 
 Jiorelifn. .: y „„',].,„rtalt with theorope.- offical of some 
 
 r /....»>..> -Every fire or marine company phall procure a hcense 
 ljfcent(e» — mvt-i^" «toto Tr(>n<?urer on or before the 
 
 and shall pay as a license fee to the State Ircasurer, on or 
 
f 
 
 liU 
 
 WISCONSIN. 
 
 lirsl (lay ot l-Vliniarv aiiiiiiiill\ , llir iniiininl sliiti'd licri'in tinder tln' 
 cuplioii '/'iijfM. 
 
 liit'i! cniniiiiiiii's sliiill |niy ;iii inniiiiil liccn.-f! iVc of tlircc liiiiidrcil 
 ilolliirs. 
 
 Kucipi'iH'iil provinioii. 
 
 I'\'cs. — For liliiii^ (•crtilli'd cojiy nf (•liarlcr, iwciity-fivc (iollitrs. 
 
 I' 'or liliiig iiiiiiiKii siiilciiiciil. I wciily-li\c ildlliirs. 
 
 Knell life iiisuriiiieo nj^eiil's eortilieiile of aulliiirity, oiio ilollur. 
 
 Eueli lire iiiHiiraiiee ajreiit's eerliiicat*! of authority, two dollars. 
 
 f'\ir tivery copy of any paper liled in ilie olliec of \hv insurance 
 Cominissiorie;'. fiJiei'M cents per folio; and f>ir allixiuf; the weal to such 
 copy, and certilyinj;' the sauie, lifty ( ents. 
 
 For valuation of life policies, one cent for each one tliousaiid dol- 
 lars of insurance valued. 
 
 h\)V examinations, I he actual exi)eiises incurred. 
 
 Ileciprcjcal provisions. 
 
 Taxes. — Kvery lire or marine c()mj)any in its annual statement 
 shfill state the gross amount of premiums receiveil in this Stat(3 for the 
 procoding year, and shall before receiving its licenst; pay to the State 
 Treasurer a lax of two per cent. u])on .such premiums. 
 
 Kvery agent of any tire company, loctitcMl in any incorporated city 
 or village having an organized lire dcspartnient, shall give liond to th« 
 treasurer of such department in the pemil sum of one thous:ind dollars, 
 with such sureties as such treasurer shall approve, conditioned that he 
 will, on the first day of Kebruaiy in each y(!ar, render to such treas- 
 urer a correct statement, under oath, of all the premiums received by 
 him for insurance against loss by lire in such city tir villagt; for the 
 y(^'ir ending on the preceding lir.st day of January, and pay to such 
 treasurer two dollars on every hundred, and at that rate, upon the 
 amount (jf such premiums. 
 
 Every such agent shall pay said tax of two dollars on each one 
 hundred dollars, on or before the first day of Februray in each year. 
 
 PetmJties, — For doing business without certillcate of authority, 
 not less than lifty nor more tliati five hundred dollars. 
 
 For willfully making false statement, not less than five hundred 
 dollars nor more than one thousand dollars. 
 
 ASSESSMENT l.NSURANX'E. 
 
 Wisconsin has no laws regulating the admission of companies of 
 other States except fraternal societies, and these are mentioned by 
 name in the act exempting them from compliance with the insurance 
 laws. 
 
 All so-called fraternal societies are required to file sworn statements 
 on or before April 15th of each year. 
 
 All fraternal societies named in Wisconsin statutes as exempt from 
 insurance laws, that are organizations of States other than Wisconsin, 
 must appoint Commissioner of Insurance an attorney on whom process 
 can bo served. 
 
 Assessment accident associations admitted after examination on 
 same terms as other accident companies, discretionary with Com- 
 missioner. 
 
icn'in under tin' 
 if tlirci' liiiridriMl 
 
 (y-Civc dollars. 
 
 , ninj dollar. 
 , I wii (l(i!l(i''.s. 
 • I' till' liisunuicf 
 ' llic Hi'id to siu^li 
 
 lie tliiiiiHiind ilol- 
 
 mminl stutoiiioiit 
 Jiis State I'or the 
 pay to tlio t^tato 
 
 incorporated city 
 give iiond to the 
 thousMiid dollars, 
 idifioiicd that ho 
 Icr to such treas- 
 UMi.'^ received by 
 r village for the 
 and pay to such 
 t rate, upon the 
 
 ars on each one 
 ray in each year. 
 
 L'ate of authority, 
 an five hundred 
 
 of companies of 
 ■0 mentioned by 
 ith the insurance 
 
 sworn statements 
 
 ! as exempt from 
 than Wisconsin, 
 on whom process 
 
 examination on 
 lary with Com- 
 
 WYOMINO TKKRITOUY. 13R 
 
 WYOMING TERRITORY. 
 
 ILcgielamre iiieelii buuulitUy. Ne.\l i»i>i.l.>ii, .lauimry, WM.] 
 M. N. (J KANT, Awlilor, ClIEYKNNK. 
 
 AffnriHSioH.— Hvery company desiring to transact business in 
 this territory shall possess an actual paid-up caj.ital of not less than 
 three hundre.l thousand d. .liars, aii.l shall file with the Auditor- 
 Certified copy of its charter or deed of settlenieut. 
 A .statement, under oath, of the president or vice-president nn.I 
 sccrtftary, of its condition. • i , 
 
 A power of attnrnev authori/.inp one agent in each county resident 
 at the county seat to acknowledge service of pnnvss and consenting 
 thai service on such agent shall b.- as valid as if served on the company. 
 Ccrtifiratrs ami Afffnfs.-Vlvory agent shall procure a 
 certificate of aiithoritv from the Auditor, showing that the company 
 he represents has complied with the reciuirements of the law. 
 
 Kvery agent, in all advertisements, shall publish the location of the 
 company and the actual paid-up capital and cash assi-ts. 
 
 ICxaiHinafloHs an^f rn,j>nirntr,,ts.-'Vh^ Auditor, 
 whenever he shall deem it expedient, may apixmit .me or more j.ei- 
 sons to examine into the afTairs and condition of any company doing 
 biusiness in this teriitory, or make such examination lumself ; and 
 whenever hv. shall deem it for the best interest of the pubhc he shall 
 publish the results of such examination in one (.r more papers of tlu. 
 
 territory. , , „ . . , .„.,., 
 
 If it shall appear to the Auditor that the afTairs of such coiiipan> 
 
 are m an unsound condition, he shall revoke the certificates granted in 
 behalf of su<-h coii.pcnv. and publish sn.-h revocation in some news- 
 paper of genc-ral circulation published at the territorial capital. No 
 company shall transact business in this terntury if its capital i,s 
 impaired to tlu^ extent of twenty per cent, wliile such deficiency shall 
 continue. 
 
 Firr fllHl Muritfr.— AumiiA stat<-m.-nts shall be tiled on the 
 first dav of January or within sixty .lays thereaft.M-. 
 
 The re-insurance fiin.l shall be computed at fifty per ..-ent. ol tlio 
 premiums on all unexpired risks under one year, and /to rata on all 
 
 other unexpired risks. , ., » i-. i , ,„ 
 
 Every company shall receive a certificate from the Amlitiir show- 
 ing that it has complied with the requirements of law, and shall pub- 
 lish the same in two m-wspapers of general circulation m tlie territory, 
 one of which shall be published at the capital. 
 
 Fees. — For filing examination of application and issuing certifi- 
 cate, fifty dollars. ^ i n 
 
 For filing annual .statement, twenty-five dollars. 
 
 For every certificates of authority, one dollar. 
 
 For each" copy of pap.!r on file, fifteen cents per folio. 
 
 For certifying the same and airi.\iiig seal, fifty cents. 
 
 For examinations, the actual expenses incurred. 
 
 k 
 
136 
 
 WYOMING TKHHITOIIY. 
 
 TftiTPH, — Every company shall ho taxed upon the excess of pre* 
 niitUTia ovfT losses and ordinary expenses within the territory during 
 the ycnr previous to the year of listing,' in the county where the iigont 
 conducts till liusiness, at the same rate that other persoiuil prop(!rty is 
 taxed. The agent shall render the list and bo personally liable for the 
 tax. 
 
 ASSESSMENT INSURANCE. 
 
 Ailntissiou. — Assessment companies must deposit with Audi- 
 tor a certified copy of its charter or articles of incorporation ; a copy 
 of its statement of business for the preceding year sworn to by its 
 president and secretary or like officers, giving in detail expenses and 
 income, indemnity in force, assets ajid liabilities, and number of mem- 
 b(TS ; a certificate under oath of oflicfM's that a.i ordinary apsessment 
 is suflicient to pay its maximum certificate in full ; a copy of its policy 
 or certificate of membership, application, and by-laws, which must 
 show that death losses are provided for in the main by assessments 
 upon surviving members ; shall designate a person or agent resiiling in 
 the territory to accept service of process, or stipulate that such service 
 may bo made upon the Auditor. 
 
 A nil nut SfdfrilH'lits. — Must bo filed on or before April 
 first in each year. On failure to file statement Auditor shall revoke 
 certificate of authority. 
 
 Kji'fdilitlftflOlls, — The Auditor, as insurance commissioner ex 
 oificio, .shall iiave power to examine companies whenever he shall have 
 reason to doubt their solvency or the accuracy of their statements, 
 or wlu!never they shall fail to pay the maximum amount of their cor- 
 tificates. 
 
 Companies are forbidden to grant certificates without insurable 
 interest. 
 
 The law does not apply to secret benevolent societies. 
 
 Feeft, — For admission, on filing papers, twenty-five dollars. 
 For filing annual statement, ten dollars. 
 
 I'ciKtffies,— For doing business without compliance with law 
 by agent, officer, or employee, a fine of not less than fifty nor more 
 than a thousand dollars, or imprisonment, or both. 
 
10 excosH of pre- 
 territory during 
 whom the iigont 
 oiiiil pr(iiK!rty is 
 ,lly liable for the 
 
 losit with Amli- 
 oration ; a copy 
 sworn to by its 
 ii expoiisos and 
 lumber of mom- 
 nary afsessnient 
 ipy of its policy 
 vs, which must 
 by assessments 
 ,gent residing in 
 Iiat such service 
 
 3r before April 
 or shall revoke 
 
 commissioner ex 
 •or ho shall have 
 heir statements, 
 int of their ccr- 
 
 Ithout insurable 
 
 ies. 
 
 five dollars. 
 
 liance with law 
 fifty nor more 
 
 
 ^n 
 
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