The Ohio union. [volume] (Ashland, Ohio) 1849-1854, 1854-05-17

" nv odtohS oAfl1NJ
agents of any insurance company incor-
porated by any other State, shall transact
any business Of insurance in this Stale,
unless such company lie possessed OF at
least one hundred thousand dollars Of actual
capital, invested in stocks OF at least
par value, or in bonds or mortgages OF
real estate, with double the amount for
which the same is mortgaged. And upon
the filing of the Auditor Of State and furn.
ishing him with satisfactory evidence Of
such investment, as aforesaid, it shall be
The duty of said Auditor 10 issue a certli-
cate thereof, with authority 10 tranact bust
ness of insurance, TO be agent or agents
applying for the same,
Sec. Q. II shall be unlawful for any
agent or agents, of any company incor-
pora,ed by any foreign government other
ihan-a State o lhis Union to transact any
business of insurancei in this State, without
procuring a certificate Of authority from
The Auditor of State, such agent or agents
having first filed under oath in the Office Of
said Auditor, a statement setting forth the
charter or act OF Incorporation OF the com.
pany, for which he or they may act, aud
The matters required to be specified by The
frs, section of this act. and the written au-
thority therein mentioned and furnished
evidence 10 the satisfaction of the Auditor
of State, that such company has invested
in 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. And the said agent
or agents of such company, filing said
statement and furnishing evidences of in
yestment as aforesaid, shall be entitled 10 a
certificate Of authority in like manner as is
provided for in the first section OF this
act. lt Yf. f1H
Sec. .. Ii shall be The duty of the agen
pragents, in either ofthe foregoing sections
mentioned, before taking any risks, or
transacting any b%uiiness of insurance in
this State, to file in the Office of The clerk
of the court of common pleas OF the county
in which he or they may desire 10 establish
an agency for any such insurance company
a copy o fthe statement required to be filed
with The Auditor Of State as aforesaid, to-
rether with the certificate Of said auditor,
which shall be carefully preserved for
public inspection by said clerk: and also
10 cause said statement and certificate TO
be published in some ne newspaper Of general
circulation in said county, for three success.
sive weeks. a'
Sec. A.. The statement and evidences Of
investment required by this ac' shall be
renewed semi annually. IN the months Of
January and July in each year; the first
statement, to be made in the month Of July
next; and the Auditor Of State, on being
satisfied that the capital, securities and IN.
veslments, remain secure as at first, shall
furnish a renewal Of certificate, as aforesaid
and the agent or agents obtaining such
certificate, shall file the same, together
with the statement on which ii was obtain
ed, or renewed, in the Office OF the clerk OF
the court Of common pleas Of the county
in which such agency is established, and
shall cause the same to be llblished in at
least one newspaper of said county.
Sec. 5. Whenever any loss shall occur
Of any property insured by any company
authorized to take risks under this act, il
shall be the duty Of The agen, by whom
the insurance was made 10 retain III his
possession all moneys belonging 10 such
company which may then be or may
thereafter come into his possession, uni
such loss IS adjusted and paid; Provided
that if suit shall be commenced by ihC
party insured against such company the
agent may deposit in court double The
amount mentioned in the policy. 10 abide
the event of the suit; or iflhe party Insured
shall not commence suit within ninety
days after the agent shall have given writ
ten notice to such party that tie loss vii
not be paid, the agent may hereafter pay
over 10 persons entitled, the moneys o
said company. And if any person insure'
by such company meeting with a loss
shall notify any other agent Of such com
pany thereof, it shall be the duty of such
agentto retain all moneys belonging 10 suci
company, which may then be or may
thereafter come into his possession, as
hereinbefore required Of the agent will
whom the insurance was effected.
Sec. @. That copies orall papers requir
ed by this act to be deposited in the Office
: of the Auditor of State, certified under the
hand of such Auditor 10 be true and correc
copies Of such papers, shall be received as
evidence in all courts and places in tbt
same manner, and have the same iorc'
and effect, as The original would have
produced.
Sec. 7. Any person or persons viola
ting the provisions Of this act SHALL uPoI
conviction thereof in any court of compe
tent Jurisdiction, be fined in any SUN no
exceeding one thousand dollars, or i'm
prisonment in the county jail not NOR,
than thirty days, and fed on bread AM
water only. or both, at the discretion of tn
court. Violation OF the provisions of ihi
{ act, may be prosecuted by information file,
by the prosecuting attorney Of the prope
county, or by indictment of the gran
jury.
Speaker of the House of Rep.
ROBERT LEE.
President Of The Senate,
e May Isl, 1854.