The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1874-12-08
authorized general agent, authorizing him

authorized general agent, authorizing hin
to act as such agent, and obtained licens
n thereon from tho commissioners so to do
Upon filing tho certificate aforesaid, tn
commissioners shall issue q license to sue
person to act as an insurance agent in thi
state provided the company for whicl
such person proposes to procure or solici
= applications for insurance therein shall b
r authorized to do insurance business in thi
5 State. which license shall continue until tn
! first day of April thereafter, unless 10
: cause revoked inithc mean time. And upCI
= filing q certificate rs aforesaid. such licens
I may be renewed On said first day of April
and annually thereafter, and for such Ii
r ccnse and each subsequent renewal the per
son receiving tho same shall pay to th'
commissioners the sum of one dollar. |
any person shall solicit or receive any risl
or application for Insurance, or receive
money or value therefor fer any insurance
company or agent, without such license
from the commissioners, he shall be punish
ed for each offence by fine not exceeding one
hundred dollars one half to the use of the
prosecutor. Bat any policy issued on or
application thus procured, shall bind the
company. if otherwise valid provided,
however. that this section shall not apply
to any person who only acts ~ clerk to any
insurance company or agent.
Sec. IL. Any person may be licensed By
the commissioner as insurance broker to
negotiate contracts OF insurance. and to eff
feet insurance for Others than himself for a
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
have been licensed to do an insurance bust
ness in this State. but with no other. For
such license he shall pay the sum of ten
dollars, which shall authorize him thus to
act until tho first day of April then next
and on payment of the same fee, his license
may he renewed from year to year after
wards, ending annually on the first day OF
April. Any person without such license,
assuming ~ act a. such broker, $ hall Tor
felt 10. less than fifty dollars; one-half OF
which forfeiture shall 90 to the complain
ant. and the other half to the State treas
ury provided. that any authorized insur-
anco 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 may
have such license as a broker on paying
such sum as will, with the sun already
paid Tor certificates, make tho sum of ten
dollars.
SC. II. Tho Insurance commissioners
shall be authorized ut any time to examine
into the condition and affairs of any insur-
ance company not organized under the laws
OF this State, doing business or proposing to
do business therein, or cause such examina-
ton to he made by somo person appointed
by them, not interested in such company
and may in like manner examine into the
business transacted by any agent of such
company in this State. and may require
such company or agent to produce all books
OF papers relating to such company or
agency, aud to answer in writing, under
oath, all reasonable questions relating
thereto and if in their opinion, the affairs
of such company are in an unsound or fail
ing condition, they shall revoke any license
that may have been granted to such COM
papy, and all licenses that may have been
granted to agents of such company, by
written notice to the company and publica-
ton Of the same by six consecutive inser-
tons in one daily or weekly newspaper in
each county where such company may have
had authorized agent or agents.
Sec. l3 Every fire insurance company
not organized under the laws Of this State,
but doing business therein, on or before the
first day Of February in each year, and
every liio insurance company not organized
under the laws Of this State, but doing
business therein. on or before the first day of
March in each year, shall transmit to tho
insurance commissioners a statement, under
oath of its president and secretary, of the
whole amount of premiums rnceired in
money, or in the form OF notes, credits,
loans or any other substitute for money, by
or on account of said company, during the
year ending Oh the 3lst day of the preceding
December, for any insurance made by it on
persons or property, in this State also cx-
hlbiting its assets, liabilities, amount Of
capital stock actually paid in. the amount
Of outstanding risks. and the BUSH
ness, stauding and affairs of the company
generally, in accordance with blanks, to
be furnished by the commissioners, adapted
to the business Of such company, which
statement shall be fled in tho Office of the
Secretary Of State; and shall pay TO the
commissioners, upon filing such statement,
the sum Of twenty dollars, which shall be
paid 10y said commissioners to tho State
Treasurer. And Tor the purpose of the
above statement tho commissioners shall
prepare suitable blanks, proposing such in
terrogai0rics "a may be necessary to ascer-
tain the business, standing and affairs of
such company, and forward duplicates of
the same IN the month of December in each
year, to every such company; and the com
missioners may demand a like statement Of
its standing and affairs at any other time
when, in their opinion, the same may be
necessary Tor the safety of the public.
Sec. II. When, by the laws of any other
State or nation, any taxes, fines, penalties.
licenses, fees, deposits OF money or of Sc
c%nritio', or other obligations or prohibi-
tions, are or would be imposed on life In
surance companies of this State, doing bust
ness in such other State or nation, or upon
their agents therein, 50 long as such laws
continue in force the same obligations and
prohibitions Of whatever kind shall DO i'm
posed upon all life insurance companies of
such other States or nations doing bust
ness within hi. State, and their agents
herein,
Sec. Is When, By the laws Of any other
State or ration, any taxes, fines. penalties.
licenses, or fees. would be required to be
paid to, or q deposit of money or Of securi-
ties made with the treasurer OF such other
State By lie insurance companies of this
State, doing business in such other State or
nation, so long as such laws shall continue
in force, tho same taxes. fines. penalties,
licenses. or fees shall be paid to, and depos-
its OF money or Of securities made with the
Treasurer Of this State, by the lifo insurance
companies of such other State or nation
doing business in this State.
Sec. 10. Unless any judgment rendered
in this State against any insurance company
shall be paid within thirty day days after
demand made upon any agent of such COM
pany, and notice thereof given to tho insur
ance commissioners by the officer holding
the execution. the insurance commissioners
may suspend the power of the company to
do business IN this State until it shall
he paid. and if tho company, or