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

49, " DhnlGo ttUluI DuSfnCEB Ill
this State, that on and after the twcfty-frst
DAY OF February, 1910, they will be required
10 obtain new licenses, and before said licch-
ses arc issued, the Companies will be rcquir-
cd to make q deposit Of certain bonds or
stock with the act cfDeccnlber odd, 1869, a
copy of. which is Shereunto appended. The
INV willbe rigidly cnforced, and all Compa-
mes must Q i deposit within the time
j. L. NEAGLE,
Comptroller General.
a n 9 t~oregulate thetAgencies OF Insu-
~ rance Companies not Incorporated in
the State of South carolina.
SECTION ], Rel enacted by tho Senate
and House of REPRESENTATIVES, of the State of
South Carolina, now met and sitting in
General Assembly and by the authority
OF the same, That il shall not be lawful,
alter the first day of April, one thousand
eight hundred and s%ixty-nine, for any
agent or any Insurance company in tho
united States, presny foreign State, incorpo-
rated BY the laws Of this State, to take risks
or transact any Business OF insurance in this
State without fret obtaining license from the
Comptroller General, which license shall cx-
pire ON the 3lst dry of March of eac,, year.
SEC. =. Thatb before the Comptroller
General shall issuessucl license to any agent
OF any Insurance. company not Incorporated
IN South Carolina, there shall be. flied in his
oticc q certified copy Of the charter of the
company from whisb the said agent or at
tofhey has rccciYad his appointment. and
also a certified COPY Of the vote or resolution
oil the Trustees or Director of said company
appointing him such agent, accompanied by
n warrant ot appointment under the official
seal OF the company, and signed by the
President and SECRETARY. Such warrant of
appointment shall eontinuc valid and irreyo-
cable until another agent or attorney has
been substituted 50 that ut all times while
7nny ~llabiiify remains outstanding tScrc s!ai!
DC within the State an agent or attorney rs
aforesaid, and shall contain n consent ex-
pressed. authorizing process of law to be
saved or said agent or attorney for all LA
Entities Of every nature incurred in this State
by SAID company, ahd that such service made
on such agent or attorney in the manner re-
CURED by the laws of this Stale Shall be
decHedLlegal and binding OH the company or
companies, in NIL cases whatsoever. and that
every Judgment 80 recovered Shall be- con-
elusive evidence Of the Indebtedness of the
company and in addition to said warrant oS
appointment, there shall De flcl and pull
lished u sistcnrcnt,m G.!l under oath of its
President or Sccrvfs,y. showing il. nssc;s
and liabilities, and distinctly Showing the
amount OF capital stool. and how the sa,uc
has brc'. paid, end OF what the assets Of The
company consists, the -aclour.: OF losses due
and unpaid. and ali Other claims against the
company, o. other in;ier.cdncss. whether iae
or not due at the time OF the fling of the
siatcmcnt ahoTe, aad shall fcrtl,er show
Isl. THAT SAID ompanics haze fulfilled tic
provisions of heir respective charters, and
ofthe extensions anu thereto, in
every pf,rticnlIc. lA3cther there iias been
any C.luHpc of Z .rTcrS - fupp l.tSt St.trpngp.
~. The amount u policies outstanding as
near as can be asccriuinci.
3d. The olaras;cr Of the risks, and the
rs,e soYtrSing companies and iiciI agents
in taking tic same, both as to locality and
amouut.
itl'. The particular chnracter of the as
sets, specify rg The amount Oh cash and pub
lie, bank. manufacturing OF other stocks and
bonds, o. other securities, held by tho com
panics, With tile evidence that they are held
by them, the rule Oh Investment in real cs-
tate, securities. and the general localities OF
real estate sccurcd,io companies.
9th. The amo'nt received from premiums,
and whether sufficient to pay losses. sc.
9th. Whether there have been any chan
ges in agencies daring Tie preceding six
months.
SEC. 8. That every agent or attorney OBJ
tanning such license shall also Cause such Ii
censc To BE- published in some ncwspaper, 10
be designated by tic CCrnpirolirr General.
having circulation in the comfy in which he
resides. The company shall also furnish the
Comptroller General, through their agent.
an annuals statement of Inc affairs of the com
pany, as provided in the second Section of
this Act, and II shall be the duty ofthc agent
or agents to publish the same.
SEC. 4. That ifthc Comptroller shall be-
some satisfied that any company is insolvcnt
or unsafe, it shall be his du.- to refuse IL
censo TO lis agent or agents, and to 'Yithdraw
any license that has been already issued.
SEC. o. That any person who shall deliver
any policy of insurance, or collect any pre-
MUM of insurance or transact any business
of insurance III Ibis State, for any company
in the United States, or foreign State, no,
incorporated by the laws Of tins State. with
out having first ob,aincl license as by this
Act required, or after his license has been
withdrawn. or who shall in any way violate
the provisions of this Act. shall be fined for
every such offence not less than one hundred
dollars, nor more than i've hundred dollars.
at the discretion Of the Judge: Provided,
further. That nothing contained in this Sec
tion shall release any company or companies
upon any rys.vJ .gS~Si =. ;s:f3.@rsa ~ s. nr
them.
SEC. G. That for every license issued nv
the Comptroller General under this Act. he
shall he paid by the company taking out
such license tue sum OF five dollars for his
own use.
SIC. I. That MI Acts or parts OF Acts in
consistent with this Act are hereby repealed.
In the Senate House, the fifth day of
March, i'll the year Of aur Lord one thou
sand eight hundred atd sixty-ninc
D. I. CORBlN,
President pro temporc OF the Senate.
FRANKLIN j. MOSES, Jr.,
Speaker Of The House of Representatives
Approved the sixth day of March, 1869.
RoBERT X. ScoTr, Governor.
STATE OF SOUTH CAROLINA
At General Assembly begun to be holden at
Columbia on the fourth Tuesday in Novcm-
Der, in the year of our Lord one thousand
eight hundred and sixty-ninc, ana thence
continue by divers adiournncuts to the