The Orangeburg news. [volume] (Orangeburg, S.C.) 1867-1875, 1871-04-29

'NNN' w Afhh ~ ~ Ha''
day of February, 1879, they viii he required
TO obtain new licenses. aud before said iieen-
scs arc issued, tho Companies will he reuui.-
cd TO make q deposit Of certain bonds or
stock with the Act ofDocember 22,l, 1865, u
copy Of which is ho,cun;c appended. The
law viii be rightly enforced, aud all CompG-
MES must mike tic deposit within the TING
specified.
j. l.. EEAGLE,
,Comptrollcr General.
"A n act to regnlate the Agencies of Imsu-
IN rance Compnnid not Incorporated in
the State of South Cnioiina.
sEcTios J., ReH tPacieI by the Senate
and House of Representatives, III the State Of
South Carolina, nov met and sitting in
General Assembly aud by the authority
OF the same, That it shall not be lawful.
after the first day of April. one thousand
eight hundred and sixty-nine, for Any
agent or any Insurance company in the
United States, or any foreign STATE, incorpo-
rated by the law of tits State, TO take risks
or transact any busines OF Insurance in this
State without first obtaIaiRe license from the
Comptroller General, T!Iich license shall cx-
pire on the 3lst day Of March of each year.
SEC. =. Thatb bcbre the Coua p~rroiler
General shallissue sucI liceasc to any agent
of any insurance company not incorporated
III, South Carolina, there shnll be fled in ms
Office q certified copy al the charter OF tae
company from which the said agent or at
torncy has received mis- appointment. and
also a certified copy oftho vote or resolution
OF the Trustees or DIRECTOR OF said company
appointing him such agent, accompanied by
a warrant OF appointment unhcriie official
seal OF the company, aud signed by the
President and Secretary. Such warrant of
appointment shall continue valid and |irrcyo-
cable until another agent or attorney hns
been substituted so thn: NJ al times while
any Liability reml:ils o~Uts;and.ng ikcre shall
he within the State an agent or attorney as
aforesaid, and shall contain a consent cx-
pressed, authorizing process of Laws to be
saved on said agent or attorney Tor Ill La
hiliiies of every nature incu:rclinthj State
by SAID company. and that such service made
on such agent or attorney in ihc manner re.
quircd by the laws OF tlis State shall be
deemed legal and binding OF the company or
companies, in all cases whatsoever. aud that
every Judgment so recovered shall be con.
elusive evidence Of the Indebtedness Of the
company aai ii addition to uil warrant o.
appointment. there Shall a, nl,i sad pull
lishcd a statement, made urii, oath OF it,
President OF Secretary. showing :s assets
and liabilities. ani distinctly shoN.n- the
;'Ino'Ia; OF capital stock, ard hor tho same
has been paid. ana ofwiaj l:c rs. IS Of the
company consists, tao afaou9i of .u-.cs 1uc
ami unpaid. and al other c,..ms ugt.u>i Tic
company, or ctAcr in;lcptcduass. W e;.cr duo
OF not due III the time ~ il" fling OF ;Ge
s.atemcut above, and a!n,, iNt;n ,:.ow:
LIST. That said cojar anics have fulfilled die
provisions Of their resppctiV, cia,tsrs, avid
oithe extensions i.ad amendments :lrirta. ~
every particular, and Whether there has been
any change vi charters since last statement.
~. Thc amount OF policies Outstanding as
near us Gun be sscpstGineil.
Sd. rhn +i.L4 @ni ~.
rule governing companies atnl a!icir agents
in taking the same Lo.h ~ TO ioca..ly atd
amount.
4ih. The particular character of the as
sets, specifying he amoun: Of cash ana pub,
lie. bank. manufacturing or other stocks anal
bonds, or other securities, held h. the com
panies. with the evidence thar ;hoy arc t,l!
by them, the rule 81 Investment III real csc
tate, securities. aul the general localities OF
real estate secured to oamraniss.
9TH. Tie amount r~cceiyet FROM premiums
o"d wlc;hrr sufficient to pay losses. Sc.
OH. Nilc;hcr There have been any chan
gcs IN agencies during the preceding 81
moths.
St'. 3. That cy,rv agent or attorney -
tanning sucii license Shall also cfgse such Ii
ccnsc to he published in some newspaper. to
he designated by tie Comptroller General.
having circulation in the county in which he
resides. The company shall also furnish the
Comptroller General, through Their agent.
an aunua statement oftac affairs oi the com
pany, as provided in The second Section OF
this Act, and it s'iali be he dn,y otJhr agent
or agents To publish the same.
SEC. !. That ii tAc Comptroller Shall l.c-
some satisfied thai; ANY company IS i"so.:ont
or unsafe, il shall bc his duty 10 refuse IL
ccnsc 10 its ngegt o. aetrts, and to withdraw
any license that has bcel. ulrcndy issued.
SIC. D. That any pcrsru who shall deliver
any policy OF insurance, or GO llect any pre-
mum Of insurance 81 tr,rsp't amy business
OF in>u:"ucc IN this State, ior amy company
in the United States, or foreign STATE. no,
incorporated by the laws Of Ills Slal.. with
ont having first obtained license rs by This
Act required, or after his license las been
the provisions of this Act, shall lac fined for
every such offence not les than ono hnnlrcd
dollars. aor more than a|,a lJ]u.lrcl dollars,
Utthe discretion OF She Juile: Proyiicj.
further. Tint nothing contained in tbs Sec
ZION shah release aHy company or companies
upon any policy Issued on delivered by J, or
them.
Sn'. G. Tia; Tor cycr.y licus, issUrl y
the Cvmp:Tol.r 8 neral GuI.r tbs No. Il.
shall be paid ly tic company iat.rg ou.
such license the sum 81 ave dollars Tor hi,
own l.c.
SIC. :. That nj Acts ar parts of .ici- in
consistent "ilh this .ic; arc hereby repealed.
In iNe Ncnaie-lioisc, the Std day Of
March. in ;ls year Of nnr Lori oms r.au-
sand cIg..! hundred atd sixty-niue
y. r. COHBlN,
president Yra tempe.e of the Senate.
fliNNkiiS i. MOSES, n,