Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1873-04-01

Ca>h SsSets % any hseiE nsur nee 'mp any having
spec, capital. doing business ia tt, STATE 10 not
srnount - ,ro than Jh-e,-tourth- IT, legal cant
fai tlt sIa by Assessing its stock Tor the
'iGsgencs. in other wty repair ~ ipttl TO
is legal amount. and unls>s n a - v,tl0 tares
months a;sr not c. from The Insurance cJnm.,si
e shall ong'r De psrmitt~l Q, 10 busin "a this
STATE an tbs mu .-si3ner - al thr-vgp1u proceed
az rr'F4ei "a sections hit'-tW1 AL uitF-ttrre %
saii chapter OF the revised statutes u Ia his opinion
such pros sejlng is necessary.
SEcr. 3 S.ctiln sixtg-tvo Of stit chapter il
eniel - as t1 read a. follows;
'SE-r. -. NJ f'rri On iCslrance company sha,l be
admitted % d busiaess in chs state I'm es- 70 have
bona ete. pail up. uu'mrairet pittl. 30 stock
rwp1aY, q AZ isI,t one Eluired thousand dpilsrs
vel Invested Ca or secured hy zeal estute. binds
s'ocS or securities other ttan ,nes alone, or 10
mutual company, cash Assets % The amount atire-
slii. Aut u0 sfipui,fi' ms OF conditions shall DE-
rrive the clu-ts 81 this stats Of ju isiicd "a 81
actions Syainst .u'h compact nor imit he ne q
cuumruc X them fu p aJ 90 less than tao years
ron thu ;ms che cause % at Ola scorles.'
SErr- b. Section seven = amended 80 - % read
a. aiios,.
sSE-r E. TIE csn-tal and other assets 81 insurance
COM Ani, ilcl-po,tsi in this stat. sep. >uch
NAV BE- need co Hr imn si tte use. shall be ilycst
ihs und "a deat OF b0nds oi the Il ted - te- or
any 81 the Nss E1s 4 "a Ststes ur in tle bonds or
curi Ties Of 'unfy. city. or municipal corpora ions
Ct said New England states or purchase of real
estate in fse. ur D. ans on mortgage ~ real
esats, or dep lem slyuzs banks On 50 states, or
o. me bonds ur socks ~ Incorporated compa les Of
sd STATES otal undivided clsrac er flr cfeiit in
surance company stoc or bon = excepted, and IA
Of ntnles alone
Secr 8. Tn, assignee OF any policy. the assign
ems Of shich has tesu --Ut-d 10 by the mp any
or - a ssnt NAV me tle company ou the pficy ga
o. own name. and a. sums tiup of such p-.icg may
D. iveret In -gt, SUI J-ct o. any dri-uc,
i,tins against the 0fikna patty, the assignee
ng fo ho sac ia istneut Ur DO, proceeds subject %
tie Ga ms ant equities OF any other parties Who may
b.' interested therein.
Sscr lt hall b. the duty or TIE insurance
crn Ia s-ilnsr, Whenever he dsems 10 necessary for
The pr'te .toa Of policy holder, n this Sta 20 visit
aud exam ne anv Insurance company not iuc1rpOr-
FL Ia th.s state ald doing business by aselcies
esnry Ia making the examination; all neceSs try eN-
In f,r such examination without the state. shall
90 hIrne ~ the company SO examined provided,
H 81 Ca relation 90 the Snairs % any comp any iuc0r
rl-ei bg organized under the laws OF any state
ui fhs United lites. 10 shall De optional With the
si c)mm ,souar @ accept the certificate Of the in
-lrancs commits ouer superintendent OF the State,
%. der tina iaw. OF which the sad company was or
gan Yea o. is standing aud condition. or % pro-
81 % investigate its affairs - hereinbeiore pro-
t.det
Srcr e. For The purposes aforesaid. tee eonmis-
sOn-r. nr any person whom IA NAV empogcr, shall
be- ~uranee mpauY doing business iu t> Sta-e, and
r ay exam M under oa-h it, officers or G-en re'a-
TIVE O. i.s business and coalition. u ,ny sucG com
ony ~ ocers OF agents, refuse % submit 90 sucl
'Nz,n.nat on, or % comply with any provisions 4
o. = act I'm relation thereto The authority o. sucT
mptnv o. DO business IN this state shall d. revoked
m I'D such time a. satisfactory proof furnished 20
90 commissioner that the company is F. 4 sound
ard solvent coalition.
SECr. .. The governor and council may allow
oh ra sonao.- pensat on for services rendered
q expenses incurred iH enforcing the ass atug
Insurance c0mptnf1s A. they De "a pvop-r.
SECr. ln. Receive appointed for any Insurance
90 ty-nue, shall have the same power and right 81
a' ton aud the course OF proceeding So far a. appl
be shall be fhe 81 prescribed for receives OF
3 nk- in the i0r'y-seyeuth chapter Of tie revised