Essex County herald. [volume] (Guildhall, Vt.) 1873-1964, 1874-12-12
LAWS OF VERMONT, AID. 1874.
Designated By he Secretary Of state for publication
iHie Newspapers Of tte State.
No.1-AnA e. relating 70 insurance.


intse Newspapers ftae State.
Nolan Ao relating to insurance.
ITS hereby enacted by the General Assembly Of the
sec lie responsible for the acts and neglect OF
Tie several agents apponted oy tatin Ss oS.H ti Nc
s5l1 fi assursd while In the performance OF their
duties Mi 6rensurance companies, other than those
chartered by tine general SSsgoS his state unless
Psnch eompanv or companies snail be resposloo Ds
the laws OF the stare w The act ucorb0rating such
company conpaues or Dy PIUNf for tbe acts and
NEGLECT of their agents as between sala CON- mi Ibe
the assure assured, IL ana ,,; Ts nee therein
See If any person Sl 10 s seei Insurance on any
property in this state "a any he ms said com
NOV CS bSn liable for the acts and negecs Of such
persons specified in the preceding secT SiG to
trv the same forfeit and pay sum not less tha sN
dollars lo G fbc Derson prosecuting the and tine
other half 90 the treasury 81 tse TOWN. "Ne'o
See T. Whenever applications fer ro IRE insurance
sha ne Iah 1 Of any fire Insurance company it shall
in law be deemed to be the act o. the S&iI % p
sgent OF the applicant or insured ana IN AZ qgesuQhs
ara n snail be taken and deemed to be the agent Of
the insurers and not OF the lnsnreI distinct brao,,
to lie known the insurance bureau %9Gh shail ne
cbaTred with the execution OF the laws OF TINS state III
relation 70 n Secretary and Treasurer of this State
N1AAN-N
ers; That no Joint stock insurance company, not
oeI Inder the laws of this state, shall be per
mtted or allowed to transact thG business 0 s9en
PA cspita invested in securities readily conyer{be
into cash OF az one half Of Which shall be invested in
cash securities, other than m9rgages Oh TSdi GSate
nor un ata assets equal amount to all its outstand
ing aPtis reckoning TS sEs S Re Sr w SSS Of
premium on marine TiSk 6 a he act1aries table Of
@ortaity with interest at four per cent as liaDhy
Eroyded ta&t 'G license any company to do business
in this State whose OF GIPa6 uoeT b ' o,
mutual or life insurance company or f
insurance company ate OF be neTtted or al
lowed to transact the business OF such COMPANY III , S
Sn9red thousand dollars, invested in securities
readily conyer6le into Ga ho seSSTes other than
mortgages OF real estate, nor unless II
to be estimated as in the case OF @nt
stock insurance companies aDoE a 'iaHyS. nor
mil ali the laws relating to insurance COMPANIES OK
cplied With And further provided that nothing
herein shall be so construed as TO rSg ma c5s re
insnrancs reserve or funds invested IN securiuGs
GHer s oSount in gross TO three per centum OF the
amount az rSS S company not organized under
the laws Of this state shall Do business IN In 5S Sat9
Written spuaon agreeing that any leya
fectng the comp9nY served on sHo G IS as # served
Corann9IiV on the company within this state 80 long
as any hSPi be Stae Continue such stipulation can
not be revoked modified service s OF r9 bee
lng 20 on The company copy of such stipulation Ger
tilted by eT6eF % has been served him shall be su
Gent thereof co whsR Is sefysd on ha in
attectlng an ssioners or either of them it shall be
served by duplicate o one COPY Of the same to tho
company at its home office or to any person "nol ScL
oO see fh sha s not be any
pany einass in This state unless such company sha
Grst obtain license OF the insurance }r
anc license the company snail file with the SGeret&r
OF State cfrSd GTp er 81 oath OF its president an(
Secretary showing the financial coHqiIE n4 SS
ed him ra sae Go Nth aH the an5
# the meets the requirements OF section
saTen and has complied with the % 9i sec
tborang such 70 Do N business lafe
authorized agents sHDSG and annually there
t9 ffo r on tie April such license may be re-
TeSTemens aforesaid aid the Mss s94
regard the company A. or s" each license or renewal
above the company shall Ray 10 e
siSnefi 10 No person shall act as AGENT OF any lnsuI
ance comPahy THt he shall have filed with the Secr(
Oh E Of State a certificate from the company or
auth aIe9t and obtained license thereon from the
mssioners 50 to d3 oo9 sha issue license to sue
sa t0 act as an insurance agent IN inns state pr
yded inc or socit Applications for insurance hefei
ha be authorized to do insurance 3p fb St o VI
r thereafter unless for cause reVoke9 III te ilead
time And dv q bs renewed on said first day Of April an
annually thereafter and 1or sgm fbn same sIa
sequ tn the Commissioners the sum OF one dollar,
any Insurance or receive money or value therett
for any insurance COMPANY Ue ~ eh,I he UTEishe
T each offense by fine not exceeding one 44Hdr
dollars half to the 95I al @ Gs Procured sha
policy b iSs somp9ny if otherwise VALID provided hoy
eyer onlV acts as clerk to any insurance company
agent Anv person may be licensed by the commi
sioners as INSURANCE broker 10 6 otbers ba8 r
aef for ana by 2 a hsuane CO.,
pace risks effect f6e W arents Of any ns1ra
p amy Who have been licensed TO 90 an lnsra
he snail pay The sum of ten do 25 % OF Sn
authorize him thus to acI III The same fee his ce
then he Renewed from year to year end
annually on assnmng to act as such broker shall
felt not than fifty d3as 94f and Il be 66er
feitnTe sa treasury; provided that any authorized
1gen 6 %R9{Gt 10 ten dollars per aRhqn may
sncI broker without further charge ioE llc9sf a
as SUI cb arents whose payments Tor suCn cefIlnGa
any Sb bsvobeen less than ten dollars may have such
cense a ns paid certificates make the sum OF
dollars The insurance commissioners shall be
sec "a at any time to examine into the condition
Ge G2BR asSe HS or
bisiness therein or cause Sc tSeI not
by so nT,IonV. and may i'll like manner examine j
h hnsiuess transacted by any agent VI SUN m pa
NY ls state and may require suCh company VI az
Hornduce ali books papers relatlhg toslcn %
or asoanfe questions relating thereto; and H. IN Tn
reasi The affairs of such company are III an unsot
they shall revoke any C1ise u
OF been granted to such company ana al ncen
~ NAV have been granted W useLIs VI I
tnaI mug rtten notice to the company ana puDllcat
n.y. by Sne Nv six consecutive insertions IN one ga
OF Coo,yIv newspaper i'll each county where such Gu
OF WeS Nay have had authorized agent or az ents.
pGaS ia Every fire insurance company NOV oi ~
sec t ho laws of this state, but doing business the
under tG bafore the first day Of February III eaGh W
IN on LEV life insurance company not organizes ul
of this state, but DONG business 81 VI
thS +be first day OF March IN eacn year bnd IRA
Deio t1o commissioners Il sJatell5nt uli
oat az premiums received IN money, Or II ie II
aiootas credits loans or any other suDSlIe qr III
Oh or on account of said company, during Ile
eySdiIr on the 8lst day OF the preceding DGcelnDS
onv insurance made by IL gu persao9
a h{s state. also exhibiting its assets laDties alo
inns sU?itSi stock actually paid in, the amount OF
u ooain% risks and the business, stunullS anu az
tna Company generally, IN accoruahce WIN DiaHh
q 'FnrnisTed by the COMMISSIONERS audpteu ~
pc !u ass ~ such company, which statement shal
, 10 the office of the Secretary OF state ana s.
nv 10 the commissioners, upon MN Sicl M
ny sum of twenty dollars, Wnlch Shall DC Pau ~
Iue I19u,issinners to the State treasurer anu Ior
urnose Of the above statement !ne 10
prePa he necessary to ascertain the BUSINESS sIano
90 nd affars of such company, ana IoFMaru uupllI
~ tbe same in the month OF December u caCH ea
0 aorv slch company; and the commissioners iaS
,nand like statement OF lts g, ~ sa,,,a M
l MAY time when, in their opinion; the same may
oCn aoossarv for the safety of the puDnc. --.,
&C. IL When by the laws OF any other sGal9 OF la
.pV taxes hnes, penalties lcenses Ices, aSUsiiS