The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1868-11-12


ll5. The Auditor shall permit CONF
panles having on iepmit with him mstock
or bonds ~ security, to collect the inter
| est accruing on such deposits, delivering
10 their authorized agents respectively
the coupons or other evidences Of inter-
est ~ the same become due, but upon
default by suy company to deposit
additional security 40 chilled for by the
Auditor, or pending any proceedings TO
close DIP Or enJoin y; hc shall collect the
interest As 1t becomes due, and add the
same to the securities In his hands be-
longing to such company. - Hsg...
10. At the earliest practicable date
after the returns are received from the
several insurance companies, the
Auditor shall make . report to the
General Assembly Of tho general COM
duct and condition Of the corporations
visited by him since his last annual re-
port, and shall include therein an aggrc-
gate Of the calculated value Of all oXt-
standing policies Of life insurance, and
In connection Herewith shall prepare
al abstract Of all the returns and state.
ments made to him by insurance conf
panies and agents. ... -.
III. Amy company doing business
In this State, without tho certificate re-
quired by section ten Of this act, shall
forfeit ono hundred dollars for every
days neglect to procure said certificate.
Any agent making insurance, or solicit
Ing applications for any company having
no certificate from the Auditor, shall for
felt the sum ofthree hundred dollars, aud
any person acting for company au-
thorized to transact business In this
State without having a certified copy OF
the company's certificate, issued by the
Auditor Of State; In his possession,
shall be liable to pay twenty five dollars
for each days neglect to procure such
copy.
lis. A policy OF insurance Oh tho
life OF an individual, in the absence OF
an agreement or assignment tn the con-
tinry, shall inure to the separate use OF
the husband or wife and children OF
said individual. independently OF his or
her creditors; and an endowment policy.
payable to the assured on attaining a
certain age, shall be exempt from lia-
btlity for any Of his or her debts.
10. The Auditor shall charge the
following fees: For filing each annual
statement, including the first applica-
ton Of any company, the sum OF five
dollars. For each certificate Of authori-
~ TO do business under this act, one
dollar. For annual valuation Of policies
hve cents on every thousand dollars In
surcd Oh lives; and this fee shall cover
oil charges by the State for the SAFE
keeping Of deposits made by the compa-
nies. For changing the securities, by
withdrawing one ant substituting an.
other, the sum Of twenty. five cents for
, each thousand dollars or fractional n.rt
thereof For making personal exami.
, nations OF the books, papers aud officers
r OF n company, the sum of five dollars =
, day, for each day 50 employed aud
actual travelling expenses. County O.
corders shall be permitted to charge the
usual fees for recording the original ccr-
tificata-z----s-
/ 1J. Whenever existing or future
laws Of any other State Of the United
States shall require of insurance compa
nies incorporated by or organized under
, the laws of this State, any payment of
. fines, penalties, certificate Of authority
, or license fees greater than the an ,unts
required for such purposes from similar
!. companies OF other states by the then
, existing laws Of this State, then, and
, IN every such case all companies of
such states establishing or having
heretofore established an agency or
q agencies in this State shall be aud are
r hereby required to pay to said Auditor
f for fines, penalties, certificate ofauthor-
| ity or license fees, an amount equal to
the amount OF such charges and paw
, ments imposed upon or required by the
: laws Of such State, OF the compa-
nies OF this State or the agents there
Of
s2l. The penalties provided for In
this act shall be sued for and recovered
In the name of State Of Iowa, by the
the county in which the company or
Agent violating shall be situated or re-
side. Three-fourths Of said penalty,
, when recovered, shall be paid into the
county treasury for the use of the school
fund, and one-fourth to the informer OF
such violation. In case Of non payment
, of the penalty, the individual offending
shall be liable to imprisonment in the
F., county Jail for a period not exceeding
three months.
s22. 1t shall not be Lawful! for any
company organized under the provisions
. OF this act to invest its funds in any
q other manner than in the stocks of the
United States of this State, or Of any
other State in this Union if at, or above
par, in bonds or mortgages or [on] un-
. encountered real estate within this
= State, or the State in which such compa-
j.. ny is located, worth at least twice the