Litchfield enquirer., 1871-11-09

snai continue until another attorney be sub lstfuted and in case any such irsnrance company shall cease fo transact husiness in tnls state according to the laws thereof. the agent last designated. or acting as such for sucn corporation, shall be deemed to contin- ue agents tor such corporation for the pur- yose of serving process for commencing acc tons upon any policy or liability. issued or cqnfncted while such corporation transact sd business in this state and service of such process for the causes aforesaid. upon any sEch agent shall be deemed a valid personal service upon such coEpoaation and shall al- so deposi3 with said comnissioner. d certi- he'd copy of their charter. also d statement under the cath of the pFeaident or vice nras. ident and secretary of the company for which they may act stating the name of the compa- ny and place where located also all ahe oth- er iacts ana items required by the seventh secuoo of tnis.act to Do stated by the officers of fire and marine insurance companies char tered by this state {; nor shall it De lawful for an agent or agents to act for any company or companies referred to in this section, direct ly OF indirectly in taking risks or transactinp the business of fire insurance in this state. without procuring rom the commissioner of insurance certificate of authority, stating that such company has complied with all the acquisitions of this act and the act m addi- ton, which apply to such companies, ard the name of the attorney appointed to act for the company; and in cases of regularly com missioned agents, acertified copy of such cer- tifcote of authority shall be published in a newspaper published in the city of Hartford, and evidence of such publication shall be fl. ed in the office of such commissioner. The statemects required by this section shall be renewed annually in the month of January, and in addition to the exhibit of the condition of such company on the 31st day of December naxt preceding, shall state the amount of pre- miums received and losses paid, in this state during the preceding year. so long as uch agency continues and the said commission CT on being satisfied that the capital, securi- ties, and lnvestments remain secure. shall furnish renewal of his certificate as afore- said. Any violation ot the provisions of this section shall sobject the party violating to a penalty of one hundred dollars for each vio- latlon, to be recovered in the hume of the treasurer ofthis state, by action on this stat ute. one.half of which shall be paid to the person informing, and the other half to the treasurer for the use ofthe state. The term agent or agents used in this lection shall in- clude an acknwlsdged agent or surveyor. or any person or persons who shall in any man. ner aid iA trsnsscting the insufanci business,
 Sec. 12. Before any license shall be grati- ed or renewed to any insurance company or association incorporated by or associated un- der any foreign government such company or association shall, n addition to the require ments speciped iu the act to which this is an addition file with the commissioner of insur. ance of this state copy ofthe last pnnual re- port or s9atement. if any, made une1 rny law of toe state or country by which such compa. ny or association was incorporated or associ- ated. or also 6 certified copy of their charter or deed os settlement.
 Sec. IS. It shall be the duty of the com- missioner of insurance of this state. whenev- CT he shall deem 1t expsdient to do so, either personallG or by committee appointed by him, to consist of one or more persons not directors, officers or agents of auy fire or ma rine insurance company doing business in this etate: and it shall be the duty of the officers or agents of any such company to cause it's books to be opened for the inspec- ton of said commissioners or said committee and to otherwise facilitate the examination so far as it may be in their power so to do: and for that purpose the said commissioner and committee shall have power to examine under oath the officers andagents of any such company in relation to its affairs and busi- ness and whatever the said commissioner shall deem it for the interest of the public SO to do, he shaIl publish the result of such in- vestigation in one or more newspapers pub- lished in the state, provided that in relation to the affairs of any company incorporated by or organized under the laws of any other state of the United States, it shall be optional with the said commissioner to accept the certifi- cate of the insurance commissioner or super- intendent under authority of which said com pany was organized, as to the standing and condition, or proceed to investigate it's affairs as herein before provided. And whenever it
 shall appear to said commissioner from such
 examination that the assetks of any fire or ma
 rine insurance company incorporated bo this
 state after charging it with the sum required or reinsurance as fixed in section 2. and with
 it's proper liabilities, excepting capital, amount
 to less than three fourths of it's capital stack. if it have stock capital or, in the case of mutual company, ir the assets, less unsettled claims, and other absolute liabilities, amount
 to less than three fourths the sum requisite for
 re-insurance. computed according to section
 q; then he shall call upon it to make up such deficiency within snch reasonable time as he
 shall fix. and on faiIure to comply with such requirement he shall bring his peti@ion (set-
 ting forth inc foregoing iacts) to judge of
 the superior court for the county in which the principal office of soch company is lucat- | ed and praying for an injunction to issue re- straining said company is located and pray ing fol an injunction to issue restraining said company from the further prosecution of the
 business of making or renewing insurances, | until the said deficiency is made up and if upon hearing before said court the allega- tions contained in such petition of the said
 commissioner shall be found t;ue the judge
 aforesaid shall issue such injunction
 Sec. IA. Whenever it shall appear to tho
 commissioners of insurance from his own ex. amination.a or from tha report of the commit
 tee apposnted by him as provided in this act, ,hat the affaire of any company not incorpor- ated by this state, and doing business in this
 state, are in an unsound condition estimsted in the manner as prescribed in the prececd- ing section, he shall revoke the certificate gronted Tn behalf of such company, shall cause q notification thereof to be publisher iu a newspaper printed in the cities of Hartford
 and New Haven, Ut least four weeks and the agent or agents of such companies are, after the first publication of such notice. required to discontinue the issue of any new policy, or thr renewing of any previously issued. and
 any agent who shall make. issue, or deliver
 aey policy ar the renewal eff auy policy of in
 surancs, CT collect any premium of insurance hr in any way transact any business of in-
 surance on bohaif of any such company, snail be liable to penalty of one hundred dollars 1 for each offence, to be recovered with costs of
 prosecution, in the name of the treasurer of
 this stato by oction on this statnte, one half
 of which penalty shall be paid to the person
 informing, and the other half to the treasurer i for the use of the state. The term agent or
 agents ussd in this section shall include an ac knowledged agent or surveyor, and aDG per-
 son or persons who shall in any manner aid ! in transactiug the business of insurance of
 any insurance company or associa ion not in-
 corporated by this state.
 Sec, 15 No fcreign Insurance company
 shall make any contract of insurance of any kind oredescription against loss or damage
 by fire or inland snavi.ation risks, nor ex-
 pose u ny-snca loss by any one risk or haz
 ard for any greater amount h proportion to I it's capital as dvsermiusd by the provisions 4 of this act than companies organized under the laws of ahis state may do.
 Sec. l6 Tue capital of such foreigh com.
 patty doing fire insuraucs business in this
 state. or any ch company hereafter admit I ted 10 such business in this state. shall for
 all the purposes or this act. and of the gem
 efal insurance laws of this state. be the ag- gregate value of such sums or securities as
 such bompany shall have on deposit sin the a