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


al The Company or Association /, sblt so long
as my Company ortAssociation so dcpositinS
snail continue solvent, the Comptroller Gen.
eTai may pernlitS such Company To- collect
ant receive the interest OH sich bonds 81.
stocks so deposited.
SEC. :. Whenever any Company or Asso-
ciation is, or shall become fully organized,
and the Said Company or Ass citation have
deposited With tlEo Comptroller General the
requisite amolIn. Of State bonds or stocks. II
shall become his duly to furnis,lt lie CORPORA
ton oS2association with a certi6eate of such
deposit, SNich certificate OF sdppliuate thcrcof
certified ~ the Comptroller General, may he
h'ed ~ hnd he eridciice for and ieainst tho
Corporation. .E4 ~
sFc. $, 1t shall not be lawful for any per
son or persons, Corporation of Corporations
Association or Associations TO act within this
St0te as agent, or otherwise. ia receiving or
prcrnfing applications for insurance Of any
kind Or Kinds, or IN any manner to aid In
transaciinS The business of Insurance of any
KIND on kinds for any Company or Associa
ton Incorporated by, or organized under the
laws OF i!.!s or any other State Govcrnment.
OF any foreign Government. until such Com
pany on Association have deposited with tho
comptroller Gcneral OF this State. for the
benefit OF The policy holders of such Com
pany Of Association, citi2"nS o. residents OF
the United Statcs. bonds or stocks Of this
state equal to Tie sum Of fifty thousand dol
lars rnr value for each Life Insurance Coin
pIny Or Association, aud twenty thousand
dollars par value for caci ether Insurance
tclnpan.I or Association; but. 80 long. as my
Company or Association so dcposiiing slial!.
coptilic solvent, The Comptroller General
may permit snch Company 81 Association TO
collect and receive the interest on such bonds
or stocks so deposited, ~,"l hive nDpnrtcd
mn Attorney in this State on WON prOccss OF
law can be served and Said Attorney shalt
have flea with Ihr Copptrolicr General n
certified copy OF the charter OF said Com
rany or Association, mud also = certified copy
of tine vote or resolutions of the Trustees or
Directors OF such Company or Association APP
pointing him the Attorney of such Company.
which appointment shall continue until
another Attorney be substituted which
snail nc done uYOn the death. removal or in
capacity to act Of sich Attorney. or NAV he.
done by such Company or Association at sny
time. When the foregoing requirements.
and such other requirements as now are. or
may hereafter be required by law, shall be
complied with the Comptroller General shall
give II certificate to that effect, and also state
the meme OF tho Attorney, which certificate,
when filed in the County Clerks Office of the
County where tie agency IS to be located,
shall be the authority to commence business.
Sc. i. Every violation Of this Act shall
subject the Company or Association, or agent
cr agents., violating. jointly aud scverally, 20
"a penalty OF FIVE hundred dollars for each
violation. which shall be spcl .or and rccO--
cred in II Joint or several civil action. in the
n0u.c at the State Of South Carolina. by the
solicitor of the Circuit in which the Com
pany or Association, or agent or agents SO
violating. shall be- situated onc-halt of such
penalty when recovered shall be paid into
TIA" County Treasury OF such County. and
thc other half to tho insoriner of such viola
lion and. in caso of the non-payincnt of
such penalty. tho person or persons so offend
iug shall u liable 10 Imprisonment for a pc
ria! not exceeding one year in the discrc-
ton OF the Court having cogni4ancc thereof.
$50. :. Tic Comptroller General shall
=ats'y and separately keep the bonds or
stock o. each Company or Association, aud
shall return TIC ~i.cutic4l bouls or stocks re
csivT.i and during the usual Office lours,
shall keep tho hoiuts or stocks subject to The
examination oftis representative e any Com
lr,y or as ,%riHtion 'svinr made = deposit.
Us required ~ this act A;ti the State shall
ue rr"pousjh'e for the return Of ali said
bonds or siccGs dy the Cornplrollcr General.
$tc. q. Al Acis and parts Of Acts incon-
si,;eut ~ conflicting VIM this Act arc here
hg re..2Icl.
So THIS act shall take effect sixty
drSs ,ttcr is passage.
luthc ) u,.c. House, the twenty frst day
ot pac.u.brr, Ia To" yeur of our lorl on.
thoa-lirl eight ,'snd.ed un,i s;Nty nine.
,6ietci a.. MHNIGOGlNI.
r.railrNt pio icmiore OF the senate.
.S.srr FRANKLIN J.. MOSES. .Ir.
spc.Ner ot;!.c isot;sc Of Representatives.
Approved thc III Gay ofDcoruber. iSj9.
.~ignct) ROBERT X. SCOTT
Governor.