The Orangeburg news. [volume] (Orangeburg, S.C.) 1867-1875, 1871-01-21

mics must make the deposit within the time
specified.; + TJf n = Y =
gf.tigaaTSa ! u j. L. NEAGEE,
(, "a = irA3gg:I Comptroller General.
A N ACT 10 regulate the gen SiesofsInsn
IA. ranes Companies ho8 INCORPORATED Yin
the State of South. .Carolinn. EE-- -B-1S- :
SEcTfosI, Bel enacted hy The Senate
and House of Representatives. of the State. ofs
SoHh !H'ToaN, now hmet md sitting in
I GeheraE Assembly and by aie authority
of alS sash Chat it, shall not b5f hwfdi,
after alie Efsst day of April, one th5usand
eight slmnafed and sixty nine.- fef. any.
agcAt Or any Insurance company in the
United States, 9r. any foreigp State, incorpo-
or transact any business Of insurance in this
State without first obtaining license from the
Ccmptroller General, which Ilicense shall ex-
pire on the 3lst day of March of each year.
SEc. 2. Thatb before tho Comptroller,
General shall issue such license to any agent
CT any Insurance .GomiianS not incorporated
in South Carolina, there shall be fled in his
office certified copy, of the charter Of the
company from Which the said agent or at
torney has received his appointment, and
also certified copy of the vote or resolution
of the Trustees or Director of said CON pany
appointing him such agent, accompanied by
n warrant ot cppn.utincnt under the official
seal of the company, and signsd by the
President and Secretary. Such warrant OF
appointment shall contipgc vatd and irrcyo-
C .ble until another agent or htidi ncy Z hhs
been substituted so thatat all times while
any liability remains out standing there shall
Be within the State an agent or attorney as
azores id, AID shall cop;aia a., csnssut exs.
reresssds rn ilorizbigi nsceeSs az laM. 80 b d
saved on sad agent CT attorney for all La
biiii of every nature incurred in this State
by sad company, and that such service male
on, ,such-agaht tor-a'torneyNin the manner re-
quircd by the laws of this State SHALL be-
dccmed legat and binding an the company or
companies IN MI cases whatsorycrs andahat
every Judgment sorecoverel shall be con-
elusive evidence tof The Indebtedness of'sthe
company; AMI inSadition 10 said warrant o.
appointment, there shall be filed and pub
l.sacd statement, made under oath of its
President or Secretary showing its assets
and liabilities, and Il ipc.ly showing the.
tyof capital stock ,.and how the{ same
hasshscn paid, and Of. .wliat fhe assets OF the
company consists, the amount of losses due
and unpaid, and all other claims against the
company, or other indeptcdnesJ, whether due
fornot due at the time eli III, filing of the
statement above, and shall further show:
lst That said companies have fulfilled the
provisions of their. respective charters, and
OF the extensions and amendme sfhercto, in
every particular, and whether there has,bctn
nny change of charters since last statement
I'd. The amount of policies outstanding as
near as can be ascertained.t - ~ y
8d. The dlnrScaer OF the. .risks, .sa.lsi! the
rule governing companies and their agents
in taking the same, both -as TO slocaliiy and
aiaount. x "a q
:, 4th. The particular character Of ahc as
sets, specifying the amount of cash and pub
lie, bank, manufacturing or other stocks and
bonds, or otherssecurities, held by theacon-
panics, withathe evidence that they are hela
by them, the rule of einscstnicht in real es-
tate, securities. and the general localities of
real estate secured accompanies. s. a
Z 9th TheAdmouht receive, I From premiums,
and whether sufficient TO pay lossss,&e. : ~
6ih.sVhetbciYther hdye been any chan
ges in agencies during the preceding So
months. =
SEC. 8. That every agent or attorney OBJ
taining such license shall also cause such Ii
conse to be published in some newspaper, to
be designated BY tho ,Comptroller Gencrai,s
having circulation i'll the county in which he
resides The,compauy shall also furnish the,
Coplptrollcr. Geperab through their agent,
an aniiua 5; - e,;:s:is Z; ii.r
pany, ms provided III the secondC Section of
this Act, and it halIbe The duty ofthes gent,
or agents 10 publish the same -
SEC, !. That if the Comptroller shall be-
some satisfied that any company is insolyent
or unsafe, it shall be his duty to refuse Ii
cense TO it's agent or agents, and to withdraw
any license that has. been already Issued.
SEC. b. That any person who shall deliver
any policy of insurance, or collect any pre-
mum of Insurance OF. transact any busin esq
ofinsurance in this State, for any company
in the United States, or foreign, State, not
incorporated by the laws of this State, with
out, having first obtained license as by this
Act required, or after his license has been
Withdrawn. or'who shalt in any Way violate
/ the provisions Of this Act, shall be fined for
every such offence uut less ihss-
dollars, nor more than FIVE hundred dollars,
at the discreiioppo pofRt tire Judge :: Provided,
further, Thatnothing cdntaincd3 In this See,
ton halll'eleuse any company or companies
upon any policy issued or delivered by it or
them. fTE - 90
SEc. g. That for every gicensc issued by
the Comptroller General under this Act he,
shall be paid b$ the company, taking out
snch license the sum of five dollars for his
pyny use. LS1i TgyrtIE
SEc.s7. That all Acts or parts ofActs in
consistent with this Act are hereby repealed.
Elm flic Senate iousc, the fifth day of
u " March, in the year of aur Lord one thou
sand eight hundred ntd sixty-Dine' 2 ''-
80 D.. n. C0RBLN, ~
.t,5.. President PRO tenpore of the Senate.
: FRANREfNeJ >. MOSES, Jr.,
Speaker ofthe House OF Repres entatives
Approved the sixth day of March, 1860.
hoBlnT H. Sooir, Governor.