The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1868-11-26
this State are reduced or impaired by the

such deficiency, within Sucn peflOo ~
este he may designate in such requisition; OF
/. rerAttorney General, whose duty it shall
then become TO apply to the Supreme
IoE Court or If in vacation, 10 one Of the
10 asjudges thereof, for an order requiring
Johsaid company 10 show cause why their
"a. business should not be closed; and the
- rcourt, or judge, as the case may be, shall
Athereupon proceed to hear the a!lega-
Siou4ions and proofs of the respective parties;
TAnd in case il shall appear TO the
nty satisfaction Of soid court, or judge, that
q. the assets and funds OF said company
IRE not sufficient, rs aforesaid or that
and the interest Of the public require 1t, the
for Said court, or judge, shall decree disco
in allution Of said company and~a dastriou-
,.,n, ton of its effects. The said court or
Judge, shall have power to refer the ap-
gaze plication of the Attorney General TO a
iorityreferee, to inquire into and report upon
the facts stated herein.
%. Any company receiving the
lrant,AfOresaid requisition from the said AUD
!. !. tor, shall forthwith call upon its stock
20 holders for such amounts as will make
ndiants paid up capital equal to the amount
ColGixed by this act or the charter OF said
:. company; and in case any stockhoider
ne o1halI refuse or neglect to pay the amount
l67; SEQ called for, after notice personally CIV
ity 32,n or by advertisement, in, such time
ind manner as;safd Auditor shall ap-
The to,rove. it shall be, lawful for the said
Whichompanv to require the return Of the
ur Al original certificate of stock held 10y such
,tockholder, aud in lieu thereof to issue
feneThew certificates for suCh~number OF
81. hares as the said stakeholder may be
:, untitled to in the proportion that the as
alchig ertaiued value of the funds of said CON-
totaAany may be found to bear to the origi-
Ating AL capitol of said company; the value
II such shares forwhich new certificates
a"' hall be issued to be ascertained I'M
W. her the direction ofthe said Auditor, the
D, l46-ompany paying for the FRACTIONAL parts
Octohf shares; and it shall be lawful for the
directors of such company to create new
ne exitock and dispose of the same, and to is
tc or nue. new certificates therefor, to all
Ia O ae.mount sufficient TO make up the origi-
40 lal capital of the company And in the
no. went of any additional losses accruing
rant's,pon new risks, taken after the expira-
o;.n ,ion of the period limited by the said
e'", Auditor in the aforesaid requisition for
ventihe filling up of the deficiency in the cap
vOte4al of such company ana before said de-
4. .r}ciency shall have been made up, the
'e directors shall be individually liable. to
oeehhe extent thereof.
434, oe3 80. If upon such examination it
SeymhaIl appear to the said Auditor, that
81 (;rhe assets OF any company chartered
et .hol pom the plan OF mutual insurane sun-
"o' .er this act, are insufficient to justify
rantshe continuance of such company i'll
Thisusiness, it shall be his duty to proceed
po,,.,,n relation to such company, in the
''P"sa anne manner as is herein required, in
voteegard to joint stock companies: aud
has die trustees or directors Of such compa-
prity ny are hereby made personally liable
or any losses which may be sustained
dmitti pom risks taken after the expiration Of
)regonfe period limited By said Auditor for
ted sailing up the deficiency in the capital,
~ oond before such deficiency shall have
cen made up. Any transfer of the
took Of any comfeny crKaniaed under
on. Schis aet, made during the pending OF
18th i,ny investigation required above, shall
an NJ ct release the party making the trans
:, ~, X from his liabilities for losses, which
r. Wt,ay have accrued previous TO such
he transfer.
.'e ie.e 81. The Auditor Of State shall be
ing thtuthorized to examine into the condi-
hunted ton and affairs of any insurance connpa-
were fry, a. provided for in this act, doing
f,ro;o usiness in this State, not organized un-
er the laws of this State, or cause ex-
he allegminationto be made b. some person or
lterest in any insurance company: aud
henever it shall appear to the satisfac-
arthqualon of said Auditor that the affairs Of
fornia ony such company are in an unsound
atr,o. ,ndition, he shall revoke the cerufi.
ltes granted in behalf OF such company
ne womnd shall cause a notification thereof ia
pushed e published in some newspaper of gen.
80. raj circulation published in the city OF
y 40 ives Mones, and the agent or agents oil
1esterdalch company are. after such notice, re.
at ViliMired to discontinue The issue of any
ecemberew policy, or the renewal ofany previ-
lsly issued.
Atla'1 81. There shall be paid by every
ing an ,mpany. association, peT.on Or persons,
feet losent or agents, to whom this act shall
s;~ =, ply the following fees; For fling and
SIX sanitation Of the application of any
er iron ,mpany, aud the issufng of the certih-
tie of license thereon. ten dollars, five
o".u" which shall go to the Attorney Gen.
fay Coal, and five dollars TO the Auditor; for
romise ling each annual statement herein re-
numena aired, two dollars; for each certificate
:, authority fifty cents; for every copy
iele ITS paper fled as herein, provided, the
ade OF t m of ten cents per folio, and fifty cents
rcertifyns the same. aud aflixng the
al of office thereto, all OF which fees
knowha!i be paid to the officer required to
lry doesrform the duties.
will bS 33. Whenever theexisting of laws
hroahna any State of the United States shall
luire Of insurance companies, incorpo
1ohus, led by OF organized under the laws Of
ieving is State, having a-enties in such 9TH
let Of prostate. or of the agentsthereof, any de-
ot;a,s osi:e of securities in such State, for the
otection of policy holders, or other
United Sc. or any payment fora taxes, fines.
!. s.;. nalties certificates OF authority, Ii
Use fees or othefw ise. greater than
deposle amounts required forssuch purposes
ton all IN similar companies at other states
&c. a,so the then existing law$Df this state,
III and in every such oase all compa-
iave''Ig.s Of such States establishing or hav
d, and q therefore established an agency or
issued .ncies in this state, shall be, and are
and .JuFeby required to makethe same de-
-. :. sit for like purpose with the Audi
''o" u of this State, and to pay to said
evo,ut;, ditor for taxes, fines penalties, GER
ground rwise an amonnt eonal to the
gradusount of such charges and payments
er partsposed upon or reauired-by the laws
tho tw;uch State-of the companies Of this
tie or the agents thereof
APecteO a. 1t shall be the duty of every in
= Il