Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1852-12-16
Approved, November 90, 1852.
No. H.-An act in relation to insurance against
fire Inv fnrelnn cnmnAnlps.

IL is hereby enacted By The General .4sSembIY o. !
the State Of Vermom as joiops:
SEQ /. If any person shall undertake, as
agent of any insurance company not incorporated
in this state, to make or renew, directly or IN
directly, any contract of insurance within this
state and with any person resident therein, with
out a compliance with the acquisitions OF thus
act on the part of such company, or in any way
contrary to the true intent aud meaning thereof,
he shall forfeit and pay or such offence the sum
Of five hundred dollars.
SEC. 2 Every such insurance company shall
by written power Of attorney, appoint some
citizen Of this state, resident therein, Its Attorney
with power and authority to accept service OF all
lawful process against such company IN this
state, and to cause an appearance to be entered
n any action in like manner as 1t such corpora
ton had existed and been duly served with pro
cess in this state.
SEC 3 A copy Of such power of attorney,
duly certified and authenticated shall be filled
with the secretary of state of this state, and
copies thereof duly certified by SAID secretary
4 tbi,'si,,, -'.-- .---.I--~r' :" oil "n"''s Hi
SEC d. II any such attorney shall die or be
removed, it shall be the duty OF such corpora
ton 10 make a new appointment as aforesaid and
flea copy with said secretary as above prescribed,
So that at all tines, and while any Liability re-
mains outstanding on such insurance, there shall
be in this state an ator'ey authorized as alore
said. And no such power OF attorney shall be
revoked until like power shall have been gwen
to some other competent person, and copy
thereof filed as aforesaid.
SEC ). Service OF process npon such attor-
'ncy shall be deemed to be sufficient service
upon his principles.
SEC. g. Every such attorney, before any
insurance shall be effected, and before any con-
tract of insurance shall be entered into with any
party resident within this state, shall deposit
with the secretary of this state, copy OF the
charter of the company whose attorney he Is,
ard statement, signed and sworn to by a
majority OF the directions Of the company,
specifying the amount of IFS capital, and all its
assets, stating the manner OF It's investment,
desiqnntug the amount invested in mortgages.
and in public or other securities, partl ularlzlng
each item and investment And SAID attorney
shall also annually, in the month OF September,
make a return to said secretary OF state, OF the
state and condition of the affairs of said com
pany stating the name Of said company when
located; amount of assets of the company
how invested amount due from the company
for losses and the amount Of other claims
against the company, including dividends un-
said which return shall be signed and sworn
to by majority of the directors of said com
pany.
/ SEc.7 No person shall bo allowed to act
as agent of any fire insurance company, not
incorporated in this state, unless the capital
+ stock, aud the accumulated premiums of said
company, shall amount to one hundred thousand
dollars, actually paid in, and Invested otherwise
, than notes of stockholders or those Of holders
r Of policies issued by the company.
SEC. g. All penalties recovered for violation
/ Of the provisions Of this act shall 90 one hall
1 to the person giving information of such viola
, tons, and one half to the treasury of the state
| Approved, November 23 1852.