Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1874-12-11


commissioners shall issue license to sucl
person to act as an insurance agent in thi
: state provided the company for whiel
snch person proposes 10 procure or s)lci
/ applications for insurance therein shall b,
IT authorized to do insurance business in thi.
IS State. which license shall continue until the
hrst day of April thereafter, unless fol-
c cause revoked in,the mean time. And upon
Hing certificate as aforesaid. such license
u may be renewed On said first day of April.
and annually thereafter, and for such IL
i cense and each subsequent renewal the per
r son receiving the same shall pay 10 the
Z commissioners the sum Of one dollar. II
p any person shall solicit OF receive any risk
or application for Insurance. OF receive
money or value therefor for any insurance
! company or agent, without such license
from the commissioners, he shall be punish
ed Tor each offence by fine not exceeding one
hundred dollars; one half 70 the use of the
prosecutor. Bat any policy issued on an
Application thus procured, shall bind the
company, ii otherwise valid provided
however, that this section shall not apply
to any person who only acts as clerk to any
insurance company OF agent.
See. H. Any person may be licensed by
the commissioners as ms france broker to
negotiate contracts of Insurance, and to cf-
iect insurance l1T Others than himself for
compensation and by virtue thereof he
may place risks or effect insurance with any
insurance company of this State. or with
the agents of any insurance company who
nave heen licensed to do an insurance bust
ness IN this state bat with no other. For
Snch license he shall pay the sum of ten
dollars, which shall authorize him thus 10
act until the first day of April then next
ana on payment of the ; Ime fee, his license
may he renewed from year to wear after
wards, ending annually on the frs. day of
April Any person without such license.
assuming 70 act as such broker. hall for
let not les than fifty dollars: one-half OF
which forfeiture shall 20 TO the complain
ant, and the other half to the State treas
ury provided. that any authorized insur-
ahce agent, whose payments for certificates
OF authority shall amount to ten dollars
per annum, may act As such broker without
further charge for license, and any such
agents whose payments for such certificates
shall have been less than ten dollars NAV
nave such license as a broker On paying
81. h sum a. will. with the sum already ;
pald Tor certificates. make the sum of ten
dollars
Sc. l. The insurance Commissioners ,
shall be authorized 1t any time 70 examine 3
INTO the condition ard affairs of any insur- 4
an ce company not organized under the laws Z
oil THIS safe, doing business or proposing 10 c
DO business therein, or cause such examina- q
ton to lie made hy some person appointed :
ny them, not Interested in such c0mnany
ana may IN Ike manner examine into the f
business transacted by any agent of slch :
company in this STATE. and may require C
such company or agent to produce all books G
OF papers relating 10 such company or
agency, and TO answer in writing, under
lath, all reasonable questions relating y
thereto and ii, IN their opinion, the aiflirs
81 such company are in an uns)und OF fail
ing condition. they shall revoke any license ie
that may have been granted 10 such com d
aany, and all licenses that may have been 3
granted 10 agents of such company. hv 4,
written notice to the company and publicl- ol
non Of the same hy six consecutive in-er- q
-lons IN one daily or weekly newspaper in ~
zach county where such company NAV have a,
had authorized agent OF agents. 70
Sec Is Every fire insurance company u
lot rganlzed under the laws of this State. 81.
lut doing business therein, on or before the ID
lr>t day OF February in each year, and AZ
very life Insurance company not organized y"
Under the laws of this State. but doing D.,
1usino-- therein on OF before the first day of "a
darch in each year, shall transmit to the '-
Insurance Commissioners a statement, under O.,
lath Of ITS president and secretary, of the IT.
$ whole amount Of premiums received in az
money, or in tie form of notes. credits. !,
oans or any other substitute for money, by "a
n on account Of said company. during the 81
ear ending On the 3I>t day of the preceding To-
december, for any insurance made by it on
PERSONS or property, In this STATE also ex- "a
nhlting It's assets, liabilities, amount Of I
npltal stock actually paid in, the amount 81
q outstanding risks, and the busi- og
less, standing and affairs Of the company er
generally. in accordance with blanks to -
be furnished by the commissioners, adapted ra
% the business of such company. which hy
tatcment shall be filed in the Office Of the be
cretary Of State; and shall pay TO the NJ
upon filing such statement, Or
be sum Of twenty dollars, which shall be sol
laid by said commissioners TO the state u.
treasurer. Ard for the purpose of the an
b0ye statement the commissioners shall ul
lrCpare suitable blanks, proposing such in %
errogatOrics rs may be necessary To aScer- .
ain the business, standing and affairs of
uch company and forward duplicates OF
he same IN the month of December in each
ear. to every such company; and the com 81
liSsioners may demand ike statement of
Is standing and affairs at any other time oc
Thcn. in their opinion, the same may be eu
eeeSsary tor the safety of the public. Pr
Sec H. When, by the laws Of any other 2,
tate or nation. any taxes. macs, penalties. 4ai
ccn,eS, fees, deposits Of money or of Sc
uritie,, or other obligations or prohibit
ions, are or would be imposed on life IN n
I1ance companies of this state, doing bust
ess in such other State OF nation, or upon
heir agents therein, 50 long as such laws ;
ontinuc in force the same obligations and eA
rohibitions of whatever kind shall be I'm !
0scd upon all life insurance companies OF OF
uch other States OF nations doing bust 'r
es~ within this State, and their agents w.
erein. su.
Sc. - When, bY the laws of any other n-
tate 5r nation. any taxes, fines. penalties. tu
cen-cs. OF fees. would be required to be ="
and To. OF q deposit of money ur Of sccuri- ert
les made with the treasurer @! such other au'
tate by lie insurance companies Of this a as'
.ate doing business in such other STATE or y
alton, 50 long a. such laws shall continue pr,
o force, the same taxes, fines, penalties, SD
censc-. OF fees shall be paid to, and dep0s- III
Is ui money or of securities made with the ;
treasurer Of this State, by the lie insurance az,
ompanies OF such other State or nation i
oing business in this State.
See. IS. Unless any judgment rendered
q this STATE against any insurance company
hall be paid within thirty day days after ;
emand made upon any agent Of such com ,H
any and notice thereof given 10 the insur :
nee commissioners by the officer holding APP
be execution, the insurance commissioners t,nil
iay suspend the power of the company TO tbo
o business IN this State until II shall sta
e paid. and if the company, or noi
ny agent therefor, shall. after notice OF n
1.b .uSn.Y-ion issue any urll-y in this of