Buchanan County bulletin. [volume] (Independence, Iowa) 1869-1891, 1872-06-14
CHAPTER 2o5.
AN ACT to amend Chapter 1873 and
TIA If tho Twelfth General Assembly

AN ACT to amend Chapter 1873 and
173 Of the Twelfth General Assembly.
to regulate Insurance Companies.
SECTION L. Be it enacted by the Gen.
cral Assembly Of the State Of Iowa, That
all the parts Of section 35, of chapter l 80,
and section IL of chapter 173, of the acts
of the Twelfth General Assembly, after
the word provided" in said sections be,
and the same are hereby repealed.
Sec 2. That section 33, of said chap
ter 1873 is hereby amended, by changing
the word zone" after the words possess
ed Of to tro SO that said section as
amended shall read possessed of two
hundred thousand dollars Of actual paid
up capital
SEC g. That section Q of said chapter
lib is hereby amended by substituting
for the words "upon the basis of the New
York standard of valuation of life poll.
cies, it being Dr. Farr's English Life Ia
bic No. 3 for males, with interest at
per cent" the words upon the basis Of
American Experience Table of Mortality,
and four and one half per cent. inter
est.
Sec T. There shall be paid by every
company doing business in this State,
except companies organized under the
laws of this State, the following fees:
Upon filing declaration or certified copy
of charter, twenty five dollars.
Upon filing the annual statement
twenty dollars
For each certificate of authority. and
certified copy thereof two dollars.
For every copy of any paper filed in
the department, the sum Of twenty cents
per folio, and for aifixing the official sea-
to such copy, and certifying the same
one dollar.
For valuing policies Of Life Insurance
Companies, ten dollars per million Of in
surance for any fraction thereof Fol-
official examinations, Of companies unde,
this act, the actual expense incurred.
And companies organized under thu
law Of this State, shall pay the following
fees:
For filing and examination Of the first
application of any company, and the is
suing of the certificate of license thereon,
ten dollars
For filing each annual statement, and
issuing the renewal of license required by
law, three dollars. For each certificate
OF authority to its agents, fifty cents.
SEC. 5. When by the laws of any
other State, any taxes, fines, penalties
licenses, fees, deposits OF money or of
securities, or other obligations or pro-
hibitions, arc imposed, or would DO i'm.
posed, on insurance companies Of this
State doing, or that might seek to do
business in such other State, or upon
continue in force, the same obligations
and prohibitions, of whatever kind, shall
be imposed upon all insurance companies
of such other State doing business with.
in this State, or upon their agents here.
SEC g. In addition to the foregoing
fees every insurance company doing bust
ness in this State, except joint stock COM
panics organized under the laws Of this
State, shall at the time Of making the an
nual statements rs required by law, pay
into the State treasury az taxes, two and
one. half per cent Of the gross amount Of
premiums received in this State during
the preceding year, taking duplicate
receipts therefor, one Of which snail be
filed with the Auditor; and upon the
filing Of said receipts, and not till then,
the said Auditor shall issue the annual
certificate as provided by law, and the
said sum of two and onc-half per cent.
shall be in full for all taxes, State and
local.
SEC 7. All of sections 80, 80. and SO,
of said chapter 1873, and all of sections 10.
and 90, of said chapter 173, be and the
same are hereby repealed.
SEC 8. This act being deemed Of i'm.
mediate Importance, shall take effect and
be in force from and after its publication
in the State Register and State Leader.
newspapers published in Des Moines,
Iowa.
Approved, April %, 1872.
hereby certify that the foregoing act
was published in the Daily Iowa State
Register, and Daily State Leader. April
30, 1879. -
ED WRIGHT,
Secretary Of State.