The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1853-01-19
NUMB NUMBER ..:',B 80.

lawful processes against such company
in this state, and to cause an appearance
TO be entered in any actions. in like man
ner as if such company had existed and
been duly served with process within
this state And service Of process upon
such attorney shall be deemed to be suf-
ticient service upon his principals.
Bee 3 A copy Of such power Of
attorney, duly certified and authentica-
ted. shall be filed with the secretary Of
state Of this state, snd copies thereof,
daly certified by said secretary, shall DO
received in evidence in all courts IN this
state.
See. 4. Ifany such attorney shall
die or resign or be removed, il shall be
the duty of such company to make =
new appointment us aforesaid, and file q
copy with the said secretary Of state, ss
before prescribed, 80 that at all fimes,
and while any liability remains outstand-
ing on such insurance, there shall bs
within this state an attorney authorized
as aforesaid. And no such power Of
attorney shall be revoked, until like
power shall have been given to sons
competent person, aud q copy thereof
fled as aforesaid. b. ir.E s 'ss'
Sec s. Every such attorney, before
any insurance shall be made on the
health of any person in this state, or
any contract for insurance shall be en-
tered into with any party resident IN
this state, shall deposit with the secreta-
rs Of state copy of the charter or con-
stitution of such company whose attor-
ncy he is, and statement signed and
sworn to by majority of the directors
Of such company, specifying the amount
of Its capital, and all its assets, stating
the manner Of its investment, particu
larifing each item cf investment, and the
amount invested in each kind or mode
Of investment. And said attorney shall
annually, in the month Of October,
make return to the said secretary
Of state, of the state and condition Of
the affairs Of the company be represents,
made up to some time between the first
of January and the FIRST Of July in each
year, specifying the name and location
of such company, the number Of persons
insured by existing policies, the amount
Of the nssets of the company, and how
the same are invited, the amount due
from the company for losses, the amount
of all expenses the past year, including
commissions paid to agents, the amount
Of all other claims against such comps'
ny which return shall be signed and
sworn to by majority of the directors
of said company Prorided, that the
deposit in the Office of said secretary Of
state, in the month of October in each
year, by the attorney Of any such com.
pany established without the linits Of
the United States, of copy Of the last
annual return and cxhibit made to It's
members. verified by the oaths Of ma
jority of the directors, shall be a sufi.
cient substitute for the return herein be-
fore named. li
Sec. 6 No person shall be allowed 10
act as agent for any health insurance
company, not Incorporated in this state.
until such company shall have deposited
with the treasurer of this state the sum
of ten thousand dollars, in money, pub
lie stocks of the United States. or the
stocks of any of the states of the Union,
which are above par, or in bonds and
mortgages on unincumbcred real estate
within this state, and worth at least fifty
per cont more than the amount of tho
mortgage thereon, and the president or
agent of every such company shall an.
mex to every mortgage his affidavit, that
said mortgage was taken in good faith
for money loaned by the company which
he represents, to the amount therein
named, and that no part OF it has since
boen returned, and that he has reason to
believe and does believe, that the prem
ises thereby mortgaged are worth at least
fifty per cent more than the amount Of
the mortgage thereon and the sreasur.
or shall take such measures and pre-
scribe such regulations for ascertainins
the title and value Of such real estate,
and the value Of such mortgage security
as he may deem necessary. -
Sec. 7. The treasurer shall hold said
money, stocks, bonds, and mortgages, a.
security for policy holders in said com.
panies, but shall, SO long as any compe-
ny so depositing shall continue solvent.
and shall comply with all the laws Of
this state applicable to such company,
permit such company to collect the In
terest or dividends on its stocks ormort-
cages so deposited, and from time 10
time to withdraw any of such securities,
on depositing with the treasurer other
like securities, stocks OF mortgages, the
par value of which shall be equal TO the
par value of such as may be withdrawn;
each mortgage, so substituted, TO ba
subject TO the requirements mentioned
in the preceding section. l.1-... 4
Sec. s. Tue sum or securities, 90
deposited with the treasurer, shall NOS
be withdrawn so long as said company
shall continue to effect insurances, or re-
newals of policies, within this state, nor
until all its debts and liabilities Of every
kind are paid and extinguished that are
due, OF may become due, upon any con
tract or agreement made with any citi-
zen Of this state and the said compR-
MES shall pay all reasonable charges of
the treasurer and secretary of state in
complying with the duties prescribed in
this act. d H7+r..' - ,--+AI
Sec. g. II any Insurance, company
shall make insurance as Aforesaid with
out complying with the acquisitions Of
this act the contract shall be valid, bus
the agent Of such company acting with
in this state, respecting The efecting Of
any policy Of insurance, shall forfeit a
sum not exceeding twenty dollars, nor
less than ton dollars, for each ofiepee