The Orangeburg news. [volume] (Orangeburg, S.C.) 1867-1875, 1871-04-22


in tbe.Conpany or Association; bat, SO long
MS any Company or q Association so dcpositing
shall continue solvent. the Conptroller Gem
erai ma. permit such Company 10 collect
and receive the interest on such bonds or
stocks so deposited.
SEC. z. Whenever any Company or Asso-
citation is, or shall become fully organized,
and the said Company or Ass citation have
deposited with the Comptroller General the
requisite amount of State bonds or stocks. il
shall become his duty TO furnish the Corpora
ton or Association with a certificate of such
deposit, which certificate or duplicate thereof
certified by the Comptroller General, may be
used in and be evidence for and against the
Corporation.
SEC, ., lie shall not be lawful for any rer-
son or persons, Corporation of Corporations,
Association or Associations to act within tais
State as agent, or otherwise, in receiving or
procuring applications for insurance Of any
kind or kinds, or in any manner to aid in
transaeting the business Of insurance of any
kind or kinds for amy Company or Associa
ton Incorporated by, or organized under the
laws of this or nny other State Government,
or any foreign Government, until such Com
pany or Association lave deposited with the
Comptroller General of This State. for the
benefit of the policy holders Of such Com
rany or Association, citizens or residents of
the United States. hou,is or stocks Of this
State cqnal TO the stun of fifty thousand dol
lars par value for each Life Insurance Com
pany or Association, and twenty thousand
dollars par value for each other Insurance
Company OF Association but, so long ns any
Goiiipany or Association so dcrssiiing slinil
continue solvent, the Comptroller General
may permit such Company or Association to
collect and receive the interest on such bonds
or stocks so deposited, aud have appointed
an Attorney i'll this State on whom process of
law can he served and said Attorney she'll
have 6lcd with tho Comptroller Genera! II
Certified copy of The charter Of said Com
pany or Association, and also II certified ccpy
of tho vote or resolutions of the Trustees or
Directors of frch Company or Association APP
pointing him the Attorney of such Company,
which appointment shall continue until
another Attorney be substituted: which
shall be done upon the death. removal or in
capacity to act of such attorney, or may be
done by such Company or Association ut any
tine. Nhen the foregoing requirements.
and such other requirements us now are. or
may hereafter he required by law, shall be
coupled with the Comptroller General shall
give n certificate to that effect, and also rtaie
line memo Cf The AttoTii2", wh;2i: certificate
when filed in the County Clerks psicc of the
County where the agency is to be located,
shall be the authority to commence business.
SEC. \. Every violation o. this Act shall
SUBJECT the Company or Association, or agent
or agents, violating, jointly anl scvcrally, to
q penalty OF five hundred dollars for each
violation, which shall be sued for and rccov>
cred III II Joint or several civil action, in tie
name of the State Of South Carolina. hy tie
Solicitor of the Circuit in which The Com
pany or Association, or agent or agents so
violating, shah bc,Situatcd; o~nc-lalt of such
penalty when recovered shall be paid into
the County Treasury Of such County. and
the other hall to tho inforIncr Of such viola
tion AMI. IN case of the non-puyIncnt OF
such penalty, the person or persons so offend
ing shall he liable TO Imprisonment for II pc.
Rod not exceeding one year in the discre-
tion of the Court having cogr;zancc thereof.
$40. 8. TIE Comptroller General shall
safely and separately keep the bonds or
stocks OF each Company or Association, and
sinii return the Identical bonds or stocks re-
c@civel; and curing the usual office hours,
shall keep the bon'ls or SOCKS, subject 10 The
examination of misrepresentation OF anySrom-
pary or Association having male n deposit.
as required by this Act and the Statc'shall
w Responsible for the rr;arn az all said
bonds or stocks dy ila Cruptrot.gr General.
Sic. q. All Acts and parts of Ac.s incoi-
:istcni or conflicting with this .lct arc here
by repeated.
So T. This act shall take effect sixty
Gays after lis possngc.
In the Seuatc,iinuse, the tweniy-frst day
Of December. in the year of oar Lord one
thousand eight hundred and sixty nine.
(SigpedJ c. " MONTGOMERY,
President pro tcinPore Of the Senate.
(~signcd) FRANKLlN j. MOSES. Jr.,
Speaker oftlIc House of Representatives.
Approved the 22d day of~hcccmbcr. 1859.
(sisncl) ROBERT X. SCOTT
Governor.