The Orangeburg news. [volume] (Orangeburg, S.C.) 1867-1875, 1871-03-25
q. b. NEaGLE,
Comptroller General.

the DtotC Oh 60utu CGrOl1na. N5r1&f# ettf. L
sECTIoS I. Re e s.st!s!! D.; the Senate
and House of Representatives, Of State of
South Carolina, no% met and sitting in
General Assembly aid by the authority
of the same, That IL shall not be lawful,
after tho first day Of April, one thousand
eight hundred and sixty-nine, for my
agent or any Insurance company in the
United States, or any foreign State, incerpo-
rated by the laws of this State, to take risks
or transact any business of insurance in this
State without first obtaining license from the
Comptroller General, which license shall cx-
pire on the 81st day of March of each year.
SE5. :. ThatU teferc tho Comptroller
General shall issue such license to any agent
of any insurance company not Incorporated
in South Caroline; there shall be filed in his
office a certified copy of the charter of the
company from which the said agent or at
torncy has received his appointment, and
also n certified copy of the vote or resolution
of the Trustees or Director Of said company
appointing him such agent, accompanied by
q warrant OF appointment under the official
seal OF the company, and signed by the
President nrd Secretary. Such warrant Of
appointments shall continue valid and irrcyo-
cable until another agent or attorney has
been substituted so that at oil times while
any liability remains outstanding there shall
be within the State I'm agent or attorney as
aforesaid, and shall contain q consent ex-
pressed, authorizing process of law to be
saved on said Ggcnt or attorney for nil liz
biliiies of every nature incurred in this State
by said company, and that such service made
on such agent or attorney in the manner re-
quired by the laws of this State shall BIO
deemed legal and Ending on the company or
companies in nh cases whatsoever, and that
every .Sud gstsent ~ te6esetel. shall be con-
elusive evidence Of the indebtedness of the
49, .,1 - r
appointment, there shall be filed and pub
lishcd a statement, made under oath OF its
President or Secretary, showing its assets
and liabilities, and Distinctly showing the
-=:o.SA q 1=f+:-- st5la, aiid now inc sume
has been paid, and of what the assets Of the
company consists, the amount Of Losses due
and unpaid, and all other claims against the
company, or other indebtedness, whether due
or not due attic time of the filing OF the
statement above, and shall further show:
lst. That said companies have fulfilled the
provisions OF their respective charters, and
.ofthe extensions and amendments thereto, in
every particular, and whether there has been
any change of charters since last statement.
%. Che amount of policies outstanding as
near MS can be asccrtaincd.
Cd. The character Of the risks, and the
rule governing companies and their agents
in taking the same, both rs to locality and
amount.
4th. The particular character OF the as
sets, specifying the amount of cash and pub
licr bank, manufacturing or other stocks and
bonds, or other securities, held By the com
panies. with the evidence that they are held
by them, the rule of investment in real es-
tate, securities. and the general localities of
real estate secured TO companies.
9th. The amount received from premiums,
and whether sufficient to pay losses, sc.
9th. Whether there have been any chan
gcs in agencies during the preceding six
months.
SEC. 0. That every agent or attorney OBJ
tanning such license shall also cause such Ii
ceRse to be published in some newspaper, to
be designated by the Comptroller General,
having circulation in the county in which he
resides. The conpasy shall also furnish the
Comptroller General, through their agent,
an annual statement of tie affairs of the com
pany, as provided in the second Section of
this Act, and it shall be the duty ofthe agent
or agents to publish the same.
SEC. 4. That If the Comptroller shntilbs-
some satisfied that any company is insolTent
or unsufc;' il shall be his duty to refuse IL
cenae to'As agent or agents, end to withdraw
any license that has beerfalready issued.
SEC. .. That any person !stb shall deliver
any policy OF insurance., or collect any pre-
ininm of insurance or transact any business
of insurance i'll this State, for any company
in the unitet' stntcsy or foreign State, not
Incorporated by the is,ss of this State, with
out having first obtained license MS 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
idollars, nor more than Ave hundred dollars,
mt the discretion of the Judge: Provided,
further, ThaeDotling contained in this Sec
ton shall release any company or companies
upon any policy Issued o.. delivered by it Or
them.
$40. 0. Ti,nt fcr every licenst issaetitY
the Comptroller General nndcr this Act. he
shall be paid by the company taking ont
such license the sum of five dollars for his
own use.
$50. .. ii"at oil nets vi parts oil Acts in
consistent with this Act IRE hereby repealed.
In the Senate-l!ousc, the fifth day of
March, in the year Of r,ir Lord ono thou
sand eight hundred std sixty-nine
u. y. CORBIN,
Prcsidctt pro tctDpure of the Senate.
FRANKLIN j. MOSES, Jr.,
Speaker of the House of Representatives
Approved the sSxth day of March, 1863.
IioBEnT X. ScoTT, Governor.
STATE OF SOUTH CAROLINA
Alta General Assembly begr,n - he holden Mt
Columbia on the fourth Tuesday in Novem-
Der, in the year Of our Lord one thousand
eight hundred and sixty-nipc, and theucc
continue by divers adjournments TO the
twenty first day Of December, in the year
OF our Lord ono thousand eight hundred
and sixty-nine:
AN ACT TO BETTER PROTECT HOLDERS OF IN
sURANcE POLICIES IL THIS STATE.
SECTION 1. BE it enacted by the Senate
and House of Representatives of the State of
South Carolina, now met and sitting in Cen
eral Assembly, and by the authority of the
same: No Company or Association which
is now organized, or which may be hereaf-
ter organized in this State, TO carry on the
business of insurance Of any kind or kinds,
| ahnl nrnnnnd f,ril,ar -r;th l..ninnan L.. L.