Buchanan County bulletin and guardian. (Independence, Iowa) 1866-1869, 1868-11-06

the Auditor shall issue acertncate tctths io't"
the corporate name Of the company; It's primer
fully complied with the laws Of this State In re-
latiou to life INSURANCE companies. and Is Huthor-
ised 70 transact the business Of life insurance
for twelve months from the date OF such certi6.
cate, !. Z until the expiration OF the thirty days
notice given by the Auditor Of the next annual
valuation Of its policies. The certihcatc snsh
be recorded in the recorders office Of the county
in which such D. incipal office is located. in
book prepared for that purpose. copy OF the
certificate certified by the Auditor. shall be, BY
the genera al agent of said company, furnished 10
each Of bis local and travelling ar cnts. and said
COPY shall be their authority for soliciting ap.
plications for policies.
Sec IL. Upon the failure of any company
TO make the deposit. or file of the certificate
r,tatcmentl in the time o. stated in this act the
Auditor shall notify the Attorney -Generai Of
the default who shall at once apply to the SUI
prcme or District Court, II in session. or II IN
vacation, to any member thereof. for an order
requiring said company TO show cause why ITS
business sh all not be closed and II upon the
hearing the company shall fail TO show sufficient
cause for neglecting to make the deposit, or
fling the certificate required by this act, then IL
said company was organized under the laws OF
this State the urt shall decree its dissolution,
and il organized or chartered hyt 9 laws ofany
foreign State or country, shall enjoin ssid com
pnny perpctuslly from transactng business OF
any life insurance within this State.
Sec. -. The Auditor may a. any time make
a per sonal xamnation Of the books papers and
secmritie. of any life insurance company doing
business in this state, or may outhoriLc anu en-
powcr any other suitable person, to make such
examinati N. and for the purpose OF securing
full and true exhibit OF affairs, ne or the per
son selected by him to make such examination
shall have pawer TO examine under oatn' any
4 haF
necessary. relative to its business aud manage
ment. Ii upon such examination the AUDITORS
OF opinion that the company i 'nso'cn', OF
that us cenditi"h is such - W 'en.e' "
proceedings hazardous TO the public or :" the
holders Gifts policies. he 'haii communicate 'he
facts 10 inc Auo,nc! WIZ -. :.
once afP,y - - 49, ;.,;..,,a,, ,..,rsinin,,
Wy. ....n, ,,,,,,, Gin. further bu,,nc..
fexrcr, the ravm.nt Of losses already sscer-
tanned and due until a full hearing can be had
II shall be Discretionary with the Judge either
10 issue the injunction forthwith. or l" give No"
tice to the company ana cause : heai"s ~ 10
aaa NJ "a oi',nA'! ,r h.. ,nav A.
Il. al, ,,ad;fv The iniup.tisn or make il per
80, ,nJ,r . AL rcrpc,u.,. shali also decree
~ha, disposition all be made OF the deposit
OF the company in the hands Of the Auditor,
subject 10 the provision. OF the following see
ton; rr"e."e.. .ae es.,ae ~. - s,a,s
.'ntto'er' "'en ""."eo . Il. ~
n'''ns =" s..,,,ans don,, bn.;ne.. in hi.
s,a,s .hall lie taken by the Auditor Of thi,
State, a. evidence of such solveney.
sec. Is. The securities of a deiaal'ing or IN
solvent company ON deposit WITH me aaa'tof 81
state. shall vest IN the S'a,e -. 'he oe"s"' J"
'he p'''e'.s ~ - -. .h.,Ii an ~,
an ~. ~, ,,,. =. a;.lJ.I ,m.,n.. the hold
80, "A ,aI,r,e. !, m. pr.porti.n. OF the la,
annual valuation 81 the same, or applied TO ths
purchase Of reinsurance Tor the benefit Of sh'
policy holders.
sec. H. tems ME. SHAH nave the fish' " any
time 10 change 'hrif see"fnies y" ''i"s" ~
substituting. fnr ih"se ~itha1a"h hh'
amount u, other securities %, me eha'"e,e
provided tor ~ ms act. ami whenever VA
annual s.in'ihi, "' !"'ie'rs on's'aei ns nm
and IN iorc'' against any eomi"n.' ~ ie
less than the amount OF security 'heh on ne
post with the Auni'of, SAM company s'a'
have The right to Withdraw sue" excess
Ir"ridssf, s2'.ooo shall re'nai" on a'pos
IT.
Sec. ID. The Auditor shan permit co"
panies having On deposit with MN STOCK
bonds IA security, TO collect the interest nc
crung on such deposits, delivering 10 me
authorized agents respectively Tue coupon
or other evidences OF interest rs The sam
become due but upon de'aun y any com
PIANO to deposit additional security rs Gale
!. for by the Auditor or pe"ai"g any proeee'
lnss to close up Or s"lo'n y. ne sh"', aa'' :,
Tue ''.e'. . % a.so'a.s II, hand. III, :.
: .A"e ~ VIC =. 49, ~ "'' '''''''
''s 90 ~ ~ i,.a .,,;s., ,,.c,;ea,,,o d,
!. co. ,hs rs,,,n. ~. 20 ;y.d + ON The se
/ a''er Tue returns are ~ wi" ~ 'v. '',;, .I.
. 49, ."s, r.nor, - liz General Assembly,
= ~. man. o oonaa', aud .nnd;,;ons al !,
. ~. a .;";,sd he lin s;nre h;s las, a
: , "i rsaar. and ,halI include therein an =