The Rutland County herald. [volume] (Rutland, Vt.) 1852-1855, 1853-01-01

f..t.s
l f,in' nllsisiiiiug siirh insurance there shall be
n th' Hia'e ~ st'orncy sahoritrd aforesaid And
'h o"er attorney sAA be revoked until like povrr shall
nlci aforesaid i ""U ''fF N'''oO
3 Evry such attorney before snv insurance sb,r b
or inslrsnce shs hc cn,er. ,to with ,py n,. s.3e, ~
W Sieie shai d,i with the SECRETARY IT state COP, n toe
''f ~ CONSTITUTION Of such company whose ationr, Ie
ana seiaien' signed aud 10 by mariy of the direct,
~ ~ soeh eonp'ny, spcfins ,e amount Vi s capa and
s IT. asts stating ne rs investment; fsf,icrrs
ng each item 81 investment 4 nl ,h7 .np,c, ,,y'4 I, b
kni o' He oi investment Ani ail attorney shall annually,
~ lc month of October urt w ren-n 40 The sad ,s- -
% o ue staie and coniiti of the srs Of the company
he represents made 90 vecn the frt Of Jnnnsr
s1 N h o July each year spocnyug and loca-
u' company the amount oi the assets Of the compal.
ana how he same ere invested the ainoun, due fnn the c-
ny or losses the amount Of al eapensas the past ar incud-
ing commissions pad 60 agents the of all o- claims
2s sun eonny which rt,irn shall be signed and sworn
% ey nuJ1'y ~ t" directors cunlnyi p,ri that
% e NV " 'e ono q saig Secretary q state i'm the month
~ %oer IN each year by the attorney o nny such company
established without the limits Of the United States Of copy
o. i ss' a'"Hl return and exhibit made IT. members ye-
en Dg ne oats ~ majority Of the directors, shall be- i-
ciem substitute for the return hercinhcioro naned
no person shall be allowed 20 agent for any
health insurance company Incorporated IN this state until
such company shah have deposited With treusiror ihs
SAT- y me sun o. ten i2gand dollars an public stocks
el The bned sAt or the stocks Of Of The States Of the
Union which above pir or in bonds and r,r,g, an mn
hcumoered resi- estate within this State and worth ai least y
Per cent n'e han the anlun Of the mortgage thereon end
e president o. agent Of every such company shall annex TO ey
cry morgag" hs edayi, that said mort re was taken IN GOOD
ish Tor money loaned by the company which he repnsens
Z
reurned and that he has believe and does bceye
u1t he premises thereby morigaged worth dv per
cent more than the amount Of the mortgage thereon: and The
suter sha nke such measures aDd prescribe such regua
lions of accrening the title and value Of such rel estate ana
c Vsae Of such mortgage security ha may deem cessAry
The treasurer shall hold said money, stocks bonds
ana mortgages as security ior policy holders IN sad companies
ou' si 70 long any company deposng shall con,inu,
solvent and sd comply with oil tho laws Of this State rppa
Die 70 such company permit such compy collect Die Interests
or dividends on It's stocks mortgages deposited and from
time 10 time withdraw any of aueh securities on denoin
par value OF which shall be equal the par value Of such as may
oe "nhdawni each mortgage subtued to be subject
the requirements mentioned in the preceding section.
. lne sum or securities deposited whi ihe treasurer
m sai III not be withdrawn 60 long as said company shall
10 ec inrances or renew ais IF poicies within this State nor
uhhi a ITS debts and liabilities of every kind arc paid and ex
unguhed that are due become due upon any contract
or agreement made with any citizen of tins State and the said
companies shall pay all reasonable charges of the and
secretary o state IN complying with the duties prescribed in
this act.
9 If any insurance company shall make insurance as
nufe'ad without complying with the acquisitions of this act
the contract shall be valid but the agent Of such company net
ing within thus State respecting the eecng of any policy of
insurance. shall forfeit not exceeding twenty dollars nor
less than ten dollars for oash offence And every person M
be deemed ngoI Of such company who receive or
mt proposals for insurance. for delivery policies un
ded on proposals forwarded from this State otherwise to pro-
euro Insurance to be effected BY such insurance company for
persons residing IN tins Sttte whosl receive payment for
such policies and sHll be subcc the restrictions and liable
to the penalties specified IN tiis act
TO- Every per.on acting agent for any eabinsraIcc
company not Incorporated by the legislature Of this State sp
on the hrs Mondly Of October in every year. make rciun
of
insured or procured to be insured by him i'll this State such
agent during the yer preceding, and Of the pni,
n received and assessments collected during the said period
by mm OF by such company IN this State and shall the same
time pay TO said treasurer Of half OF per cent Of
the amount Of such premiums and assessments and the whole
amount received for policies, whether paid in money or in no
or an both shu be deemed to be premiums for the purposes Of
Tins section.
H. If any such agent shah glec to r ke such return.
and payments as are required in the preceding section SHAH
m9e the same audulenty falsely he shall Coz every such
offence forfeit sum not exceeding one hundred dollars
,,,l
to be made any coract of insurance aforesaid give bond
to the treasurer of the State with two suoiiea be
proved by such treasurer, in the If five hundred dollars
with condition tat e shall make the and pay the
tax hereinbeforo required
l3 Every such agent shall exhibit in conspicuous letters
on his sign designating hs place of business the of tho
State in which e company he represents located ui said
company and agent shall also have printed large type the
name Of such State upon all policies suod eitzens this
State upon all cards pacnrds and psnph,s unl in all adj
vertscmen published Issued circulated in this State by him
or then relating TO the insurance Of snch company.
H. If any person shall undertake.. ageIt of such COM
pany to make renew, directly Indirectly any Of
insurance within this State and with any person resident there
n without having complied with all the requstons tins act
any way contrary the and meaning thereof
he shall forfeit and pay for every such offence the Of thirty
l5 The secretary treasurer Of the State arc hereby
constituted board Of insurance commissioners ami sa bc
their duty annually In the month n November examine e
statements and returns required 10 be made BY the attorneys
aoresad and If in their opinion sy return
sr be obscure, defective IN any respect unsatisfactory
shall be their duty Immediately require answcs under os,
from the attorney ege by whom such obscure, defective
uushlistAcy saeAlfni or return fhf been posted
made by such they mny decent necessary and
proper be answered order explain such re-
turn uad exhibit il snd of the business and
Of the company rcpnesufehy attorney agent
And any attorney agent shall refuse np-c
such Inicogaoe for ts sace Of SIXTY DAYS the company
represented by such attorney agent, snail be- deeud
have complied with the provisions Of the Law of this State uIs
such agent be continue 10 act aforesaid siali b.
liable the penllues prescribed IN the preceding And
feh shall prepare abstract Of the statements
snd returns made aforesaid and Jay tho Same before e c
laure si the annual session thereof.
l6 The charges Of ue treasurer an secrst1-y af
F services and expenses uni this art shall be- psd hy such
company, and shall be len nia uony. -
mortgages acPosied With The end u IN
failure " ans such company pay sarh clnreu pay
discharge any cRocaion Rhch mHy lawfully any udg.
rendered again suc company n fsyof of any ~
this state actions bFuHght pcis ooaois regard
policies issued made by such eonpsHy ~ citizens Of
ths State then IN such the tfeas9nr shall y such chaTF
OF such execution 0 The funds dcP1sod Fnh hin
.iial have poser any Gf sdch sscutes r,
IN order % tay Ia uoh snsb company shall,
within sixty days aT feceiv.ng Rne i tie tessnrof ~
such ayncf Of sad deposit supply sEd nsks eod ihnde
6eiency inside ssid deposit, BE- deemed hsve
Piled siih the provisions oi thu act
H. All penauf- for saoihiions q ise prgyisDn. of h.