North Iowa times. [volume] (McGregor, Iowa) 1867-current, 1868-07-15
r1rru-rxrrNbrrrrrs n,rnryo -.

NEUTRALITY-SUSPICIOUS. DURING the YEAR.
LIST. The amount paid for losses.
20. Inc amount o. dividends paid to plicy.hold-
Sd. The amount of commissions and salaries paid
Atm. The amount paid to officers for salaries and
9TH. The amount paid for taxes.
61di Inc amount OF all other payments and ex.
NEUTRALITY-SUSPICIOUS..
5st. Inc greatest amount, insured on any one life.
"a: The amount deposited in other states or terri.
tories as security for policy-holders therein, stating
the amount in each state or territory.
90. Inc amount OF premiums received in this
Attn: The amount paid for losses in thi. State dur.
5th. The whole number of policies issued during
the year, with the amount OF insurance effected
9TH. All other items OF in formation necessary IN
enable the Auditor to correctly estimate the cash
value vaIue, OF policies, or to judg. OF the colr-,tness OF the
Sec. 5. The Auditor OF State is hereby authorized
pose such additional Inquiries as a' Se NAV n tnin * p peo.
essary TO elicit a fun exhibit o. the standing OF com.
panies doing business IN h Sta e.
Sec. 8. AS soon as practicable after the filing of
sa,d statement OF any company organized or doing
the Auditor OF State he Shall proceed to ascertain car i,
tne net e, cash value of each policy in force, upon the
policies, it being DR.. Bars English Life Table mum.
per three. Tor males. with interest at five per cent.
ity, with interest at four per cent; but in case snch
valuation has been made in New York, or any other
otate, upon III OASIS dDONe Speclflpd, a certificate oil
the Auditor, Controller, or chief financial oflicer of
such state, shall be taken by the Auditor of this
Statea as sufficient evidence Of the valuation of such
policies, and of the amount so required for such re-
insurance. And for the purpose OF making such val
Auditor may employ a competent actuary to do the
same. who shall be paid by the company for which
prevent any company from making said valuation
herein contemplated. which shall be received by the
on ascertaining the net cash valued of policies in force
in any company organized under the laws of this
state, or doing business in this State, and which has
not made the deposit required in section our OF this
act. the Auditor shall notify said company of the
notification, 1t shall be the duty o. the officers OF
such company to deposit with the Auditor the
within this state in stocks, OF the United states or of
this state. or OF any state of this Union. or in bonds
state or where such company Is located, of at least
double tie value thereon: P,ouiisd. that no joint
state or doing business therein. shall be required to
make such deposite until the cash value Of the poll.
ceeds the amount depos tied by said company under
section two OF this act: And Provided. that foreign
CURED 10 make a deposite in this State ! provided led
such deposite has been made in the state where To-
Gated, or III any other state, when they shall have
complied with section four OF this act.
sec. 10; On receipt of the deposit and statement
lions. and the statement ana evidences Of invastment
ACCORDING TO law o. foreign companies, which shall
icate setting forth the corporate name of the comps.
ny no IT. II G1rI RI cdnanf 1tlice ,, or agency in the state; tina,
relation to lie insurance companies and is author.
i f%a, 70 months aranshet iro .ne tb PUSHES Gnte % Of life insurance for
until the expiration of the thirty days notice given
policies. The certificate shall be recorded in n the re-
corders Office of the county in which such principal
q 2ln cop y i Of the c En- Il 4 RSGs P eerffded ' by f rha p aadissr.
shal be, by the general agent of said company, fur
said copy shall be their authority for SOLICITING az.
p~lications for policies.
sec; Il. Upon the failure Of any company to make
the deposit, or file the certificate TStaternpntl in the
time as stated in this act, the aud tor shall notify the
attorney general olthe default, who shall at once ap-
ply to the supreme or district court. if in session. OF
ifin vacation. to any member thereof, for an order
ness shall not be closed: and il upon the hearing the
company shall fail to show sufficient cause for neg
required by this act. then II said company was organ.
lied under the laws OF this State, the court shall de-
cree its dissolution. and if organized or chartered by
the laws of any foreign state or.country, shall enjoin
said company perpetually from transacting business
Sec. Il. The Auditor may at any time make a per-
sonal examination Of The books, papers and securi-
this state, or may authorize and empower any other
suitable person, 10 make such examination, and for
affairs. he or the person selected by him to make
s dar oe enalni u nGi. sna6; have power e examine un.
others If necessary. relative TO its business and man
affe Opinion that up the s comp eHu,i Is insol ye ee au ,hs, y, Is
condition is such as to render its further PROCEEDINGS
cies, he shall communicate the facts to the Attorney
General, who shall at once apply to a judge of the
straining such company from transacting further
business except the payment OF losses already as
1t shalt be discretionary with the Judge either to is
sue the ir FUNCTION forthwith. or to give notice to the
ry proceedings Tor Injunction. Upon the anal hear
ing OF 1he cause, he may dlsolye or modify the in,
shall al.o decree what disposition
pany in the hands Of the Auditor. subject to the pro-
visions OF the !oiiGwing section: Provided, Tue GER
/ officer OF aDy state nlylnr IN IN arr N = = al n RI NJ
as sS, to s she soiv ySnG b oa any Company M d,,nS bushes, n
State. as evidence OF sucn solvency.
Sec. ID. The securities of a deflulting or insolvent
vest in the State or che be1en o. the poi:iss on
which such deposits were made, and the proceeds vi
id among the holders of said poliei esu in the Z I pr1.
portions OF the last annual valuation of the same, or
applied 70 the purchase oi reinsurance for the bene-
Sec. II. Companies shall have the right at any
time to chang their securities or deposit by substi-
tuting for those Withdrawn a like amount ia other
securities Of the character provided for IN this act,
and whenever the annual valuation Of policies out.
standing and in force against any company in is
less than the amount o. security then on deposit
right to Withdraw such excess: Provided, $4,000
shall remain on deposit.
sec. l.. The Auditor, shall permit companies
having on deposit with him stock or bond as securi-
ty, to collect the interest accruing on such deposits.
delivering to their authorized agents respectively
the coupons or other evidences OF interest as the
same become due; but on default by any company to
deposit additional security as called for by the Audit
or. or pending any proceedings To close up or enjoin
i, he shal.. collect t ne Interest, as becomes ,u add
the same to the securities in his hands belonging 10
such company.
Sec. IS. At the earliest practical date after the re-
turns are received from tile several Insurance COM
panies, the Auditor shall make a report To the G ane.
raj Assembly o. the CEREAL conduct and condition
nual report, and shall include therein an aggregate
Of the calculated value OF all ontstandin! policies OF
life insurance, and In connection herewith shall pre-
pare an abstract of all the returns and statements
made to him by insurance companies and agents.
stare. WITHOUT the csrtlhcate required by section ten
ry days neglect to procure said certificate. Any
agent making insurance, or soliciting applications
s dit Sn shalt sGn tprfsit a she sum no Of e shree ian ,iea the as,
and any person acting for q company authorized to
t tfaes eap Su OF she c co an,s sya.e ee wtiaeat h issnes b q G ihe
Auditor of state. IN his possession. shall be liable to
pay twenty-five dollars for each days neglect to pro-
Sec: is. A policy, of insurance on the life of an
i 1iSnv,ana 10 N fhe eE cen 40 senc sns 81 an agreement or as,
use of the husband or wife and children OF said indi-
vidu a and an policy payable to the as.
from Liability for any Of his or her de Dts ,--
fees: For filing each annual statement, including
the first application OF any company. the sum OF
business under this act, one dollar. For annual val.
uation or policies. five cents ON every thousand dol.
Charges eaas lasp By the Se State for an the ' saFe Keeping les snaii of fS aepos aas
made by the companies, For charging securities,
SUM sg ~t Of twe%ty.iiv 9n cen asp for soe eseS .hSsus s%SIn doil ans
or fractional part thereof. For making personal ex-
sompsnS. sh Of . aha s 81 i've d galR9srs ana saS Sa Az : e.S S6 s ssS
SO employed and actual travelling expenses, Coun-
ICES Y ss for recor snnas . 1s P Originate ces sa fassse the usual
Sec. %. Whenever the existing or
future laws of any other State Of the
United States shall require of insur-
ance companies incorporated by or or
ganized under the laws of this State,
any payment of fines, penalties, certif-
icate of authority or license fees uraat-