Cedar Falls gazette. [volume] (Cedar Falls, Iowa) 1860-1895, 1868-06-19

other StMtcs or Territories fnr the spe-
cial benefit or security OF the Insured
therein; aud any such company de-
string to transact any such bueincss
rs aforesaid, by an agent or agents In
this State, shall file with the Auditor
Of State. n written Instrument, duly
signed aud sealed, authorizing any
agent or agents OF such company In
this State. to nchnOwl ledge service Of
| process for and In behalf Of such
company In this State, conscntIng
that such service OF process, mense
or final, upon any such agent or
agents, shall bc taken and held as
valid as IL served upon the company
according Ia. tire laws Of this or any
other state, and waiving all claim or
right OF error, by reason OF such nc
acknowledgement or service; and also a
certified copy OF their charter or decd
Of settlement, together with q state
mcnt, under tho oath Of the prcsi-
dent or Vice President, or other chief
officer, and the secretary OF the COM
pahy Cor which they may act stating
the namc Of tho company and the
place where located; the amount OF
its capital, with detailed statement
Of tho facts nnd items ns required
from companies organized under the
laws of this State, NJ pcr section %
thereof; also copy Of the last nnnu-
al report, III any, matlo under any
law Of the State by which such COM
pany was Incorporated; and no agent
shall be allowed 70 transact business
for any company whose capital Ii
impaired by tho liabilities ,ss stated
I'm section twenty of this act, to the
extent of twonty por cent. thereof,
while such deficiency shall contin-
tle.
SEC. "a. II shall not be lnwful for
any agent or agents to net for any
Insurance company or companies re-
ferrcd to in this act, directly or indi.
rectly, In taking risks or transactIng
business of insurance III this state
EwithOut procuring from the Auditor
OF State Il certificate Of authority sta-
ting that such company has COM
piled with ali the rcquisitlons Of this
act. s.
Sec. %. Tho statements and evil
denccB Of investments required of
L
renewed annually In such manner
As said Auditor many direct, with any
additional statement or tho amount
Of the losses incurred or premium re-
ceived I'm tho State, during the pre-.
ccding period, SO long as such agency
continues. Aud the said Auditor, ON
being satisfied that the capital, sccu-
i tss
as hcrcinbcf0rc provided, shall farm
ish a renewal Of his certificate as
Scc.s 30. Every lnsuranocc company
organizce under tho laws of, or doing
business La, this State, shall conform
TO all the provisions OF this net appll-
cable thereto, ON or before tho first
day Of January, 1850; and when nec-
| cssary, any existing company shall
change its character and bylaws so
as to conform hereto, by a vote Of u
majority of its boarxi IL lslircctors,
aud any President, Secretary, or
other officer Of any company organ
lied under tile laws of Iowa, or any
officer or person doing, or Attempting
to do, business In this State, for any
insurance company organised with
out the State, falling tD comply with
any Of tho requirements or this act,
or violating any OF tho provisions
thoreof, shall be deemed guilty OF a
misdemeanor, and upon conviction
thereof, shall bc fined In sum not
exceeding ono thousand dollars, and
be imprisoned I'm tho county jall f0i
n period not less than thirty days MOI
more than six months. -.
Sec. ~. Every agent of any In
surance company shall, In ull adver.
tisemcnts OF such agency, publish
the location Of tho company, giving
the namo OF the city, town, or village
In which the company Ia located, and
tho State or government under the
laws Of which IL 10 orEanized. The
term agent or agents used In tho fore
going Ecctious shall include an nc,
knowledged agent or surveyor or any
other person or persons who shall, IN
any manner, directly or indirectly
transact or aid In transacting the In,
surance business Of any insuranc,
company not incorporated by laws oI
this State. The provisions. Of thu
foregoing sections relative 10 foreign
companies shall apply to all suci
companies, partnersiiip, association
or individuals. whether Incorporates
or not. 4
I Sec. 2s. 1t shall 10 the duty OF III,
Il Auditor Of State, whenever he slini
deem IL expedient Sd 10 do In his
Judgment, to appoint one or morg
persons, not officers, agents or stock.
holders or any insurance company
doing business In this State, trek.
anime Into the affairs and condition
Of any insurance company incOrpo.
rated or doing business In this State
or TO mako such examination him.
self; and Il shall DO tho duty of the
officers or agcnts or Bucll company or
companies 10 cause tlIeif books To bc
opened for tho inspection Of the An.
dit0r or the person or persons, 30 up
pointed, and otherwise facilitate such
examination so far ms may be In tl1efl
i power 30 10 do and for the purpose
0f arriving at tho truth I'm such cases
the Auditor. or tilc person or persons
80 appointed by him, shall have pow.
or 10 examine under oath, tho Officers
or agents Of any company, or Others
II if necessary, relative TO tic business
and condition Of said company, and
whenever the Auditor shall deem u
lest for tho interest Of tlsc public sc
to DO, ha shall publish tlie result ol
such investigation la ono or more
papers LA this state; and wheuoveI
tshall appear 70 tho said Auditor
from such examination, that the as'
sets Ntd funds Of any company iuc0r.
porasesl In this state nre, reduced ol
Impaired by the liabilities Of said
company as described under the head
Of liabilities In the stateinent' rcquir.
ed by this act, moro than twenty pol
cent below tho paid up capital stock
required by THIS act, lie may direct
the officers thereof TO require The
0ckh0ldcrs to pay In the amount ol
such deficiency, within such u period
as he may designate In such ROO nisl.
I non. or he shall communicate tho
fact to the Attorney General, whose
duty u shall then become 10 apply to
the Supreme Court, or lf In vacation,
to one Of the judges thereof, for mi
order requiring said compapy TO show
cause why their bhsincss sIl0uld moi
he closed; and the court, or Judge, M
tho case may be, shall thercupon pro.
coed to Iseaf the allegations and
proofs 6f the fcspecttyc parties: and
ID case u slIAll appear 10 the satisfac,
tf0n Of said court, or judge, that tho
aSsets and funds Of said company nTe
not sufficient, a. 0forcsaid, or thai
tho interest 0f tho public fcquIfe t.
the said court, or judGb, shall decree
tn dkf&<Olast{SSln 0f nskf<l ,a.On1sSaosv aud 4