The weekly Ottumwa courier. [volume] (Ottumwa, Iowa) 1857-1872, 1868-07-09

NY Tor WnlCn tncy may 0CC OtaJlnR TN
name Of the company and the place
where located !; the amount Of I'D capi
tai, with a detailed statement Of tn
facts and items as required from com
panies organized unde- the laws Of thil
state, as per section twenty thereof
also q copy ofthe last annual report, !
any, made under any law Of the State
by which such company was incorpor
ated; and no agent shall be allowed
TO transact business for any company
whose capital is impaired by the liabil
itics as stated in section twenty of thi,
act, to the extent Of twenty per cent,
thereof, while such deficiency shall
continue. .t'.s''7f7stf
Sec. "a. It shall not be lawful fol
any agent or agents 10 act for any in.
scrance company. or companies re-
ferred to in this act, directly or indi.
tectly, in taking risks or transacting
business OF insurance IN this State with
out procuring from the Auditor q GER
ti6cate OF authority stating that such
company hus complied with all the re-
| QUESTIONS Of this act.
Sec. 25. The statemen. and evil
denccs of investments required of for
eignicoInpanics as nbOve, shall be re-
ne we'd annually in such manner and
form as required by this net, and as
said Auditor may direct, with any ad-
ditional statementA Of the amount
Of the losses incdrfed Or premi-
um received in this State, during the
preceding period. 90 long a. such aren-
cy continues, And the s.id Auditor.
on being satisfied that the capt. al, sc.
curities and investments remaii, SECURE,
as hereiubeforc provided, shall furnish
8 renewal OF his certificate as aforesaid.
Sec 26. Every insurance company
ORGANIZED under the laws q. or doiuf,
business in the State, shall conform to
all the provisions al this act applicable
thereto. on or before the first day Of
January. 1859 and when necessary.
any existing company shall change is
charter and bylaws SO as to conform
hereto: 4 vote Of a niaiorit; Of its
board of directors, and any President,
Secretary, or other officer Of any COM
pany organized under the laws Of Iowa
or ar,y officer Or person or person do
ING. or attempting to do, business in
| this State for any insurance company
organized without this State, failing to
comply with any of the requirements ot
this act, or violating any OF the provi-
sions thereof, shall be deemed guilty oi
misdemeanor, and upon conviction
thereof, shall be fined in a sum not ex-
ceeding one thousand dollars, and be
| imprisoned in the county iail TOR DO.
nod not less than thirty days nor more
! than six months.
Sec. 27, Byery agent, Of any insnr-
ance company shall, in all advertise.
ments of such agency, publish the 10.
catieii 0f the company, ,gsiSin4 the name
Of the city, town, or village IN ~iicl
| the company is located, and the state
on government under VIII ch it is or.
gained. The term agent er agentl
used in the foregoing sections shall in.
clude an acknowledged agent or sur.
yeyor or any other person or persons
who shall, in any manner, directly or in.
directly transact or aid in transactinq
the insurance. business Of any insurance
company not incorporated By the laws
OF this State. The provisions OF the
foregoing sections relative to foreign
companies shall apply to all such com.
panies, partnsrship, association, or in.
diyiduafs, whether incorporated or not.
Sec % II shah be the duty Of the Au.
ditor of State whenever he shall deem
it expcdient SO to d0m his judgement
10 nppoint one or more persons not
officers. agents. or stockholders OF any
insurance company doing business in
this State to exeniine into affairs, and
il shall be the duty of the officers and
agents to cause their books TO be open
ed for inspection OF the Auditor or the
person or pcrsous 80 appointed or other.
wise facilitate such examination 9, far
as NAV be in their power to do so and
tor the purpose of arriving at the truth
n such caae: the Auditor, or the person
or persons 80 appointed BY him shall
have the power to examine auder oath
the officers or agents OF any company
relative To the business and condition
! ot said company, and whenever the Au
ditor shall deem ii best for the interes,
| Of the public TO do 80, he shall publish
the result OF such investigation IN one
or more papers IN the State: and wher
ever II shali appear TO the said Auditor
from such examination and the asses
and funds 81 any company incorporated
ii this State arc reduced or imrariel
Nv the liabilities of said company q
dcscr;hed under the head Of liabilities il
The statement required by this act NOR,
than twenty per cent. below the paid
IN capital stock required by this act
he NAV direct the officers thereof b
require the stockholders to 1pay IN tn
amount Of such deficiency, within sue!
a period as he may designate in suc
|rcquisition, or he shall communicate tn
fact to the Attorney General, who's
duty it shall then become to apply +
the Supreme Court, or II in vacation
Ito one of the judges thereof, tor an or
der requiring said company to shos
| cause why their business should no
be closed and the court, or judge, g
the case may be, shall thercnpon pro,
ceed to hear the allegations and proof
OF the respective parties; and in case
shall appear to the satisfaction OF \