Lamoille newsdealer. [volume] (Hyde Park, Vt.) 1860-1877, 1874-12-16

! upon Hing the certificate aforesaid tn
commissioners shall issue license to suoI
| person to act as an insurance agent in thi
state y; provided the company for which
such person proposes to procure or s)lci
applications for insurance therein shall b.
authorized to do insurance business in thi
State, which license shall continue until thu
first day Of April thereafter, unless fol-
cause revoked inlthe mean time. And upor
filing certificate as aforesaid. such licenst
may be renewed On said first day of April
and annually thereafter, and for such Ii
cense 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 reeeiy,
money or value therefor for any insurance
company or agent, without such licens,
from the commissioners, he shall be punish
cd for zach offence by fine not exceeding ont
hundred dollars; one half to the use Of the
prosecutor. But any policy issued on ar
application thus procured, shall bind the
company, If otherwise valid provided
however, that this section shall not apply
to any person who only acts as clerk to any
Insurance. company or agent.
Sec III. Any person may be licensed by
tho commissioners a. Insurance broker tC
negotiate contracts of insurance, and to Of.
feet insurance for Others than himself for q
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.
moss in this State but with no other. Foi
such license he shall pay the sum of ter
dollars, which shall authorize him thus to
act until the first day of April then next
and on payment of the same fee, his license
may be renewed from year to year after.
wards, ending annually on the first day oil
April. ANY person without such license
| assuming to act as such broker, s hall for
felt not less than fifty dollars one-half Of
which forfeiture shall 60 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 beon less than ten dollars may
have such license as a broker on paying
such sum as will, with tho sum already
paid for certificates, make the sum of ten
dollars.
Sec. IL The insurance commissioners
shall be authorized at any time to examine
into the condition and affairs of any insur-
ancc company not organized under the laws
of this State, doing business or proposing to
do business therein, or cause such examina-
ton to be made by some 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
or papers relating to such company or
agency. and to answer in writing, under
oath, all reasonable questions relating
thereto and fin 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
pany, 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. IL 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 lite insurance company not organized
under tho laws of this State, but doing
business therein on or before the first day Of
March in each year, shall transmit to the
insurance commissioners statement, unde,
oath OF its president and secretary, of the
whole amount of premiums received II
money, or in the form of notes, credits
loans or any other substitute for money, BY
or on account Of said company, during thu
year ending on the 3lst day OF the preceding
December, for any insurance made by 1t OF
persons or property, in this State ; also ex
hbiting its assets, liabilities, amount o
capital stock actually paid in, the amour
of outstanding risks. and the Dusi
ness, standing and affairs OF the compan.
generally. in accordance with blanks t.
be furnished by the commissioners, adapte,
to the business of such company, whlc
statement shall be filed in the office OF tn
Secretary of State; and shall pay to tn
commissioners, upon filing such statement
tho gum Of twenty dollars, which shall D
paid by said commissioners to the stat
Treasurer. And Tor the purpose OF tn
above statement tho commissioners shal
prepare suitable blanks, proposing such IL
terrogatories as may be necessary 10 ascel
tain tho business, standing and affairs 9
such company, and forward duplicates
the same IN the month OF December IN eac
year. to every such company; ana the con
missioners may demand like statement
It's standing and affairs at any other TIM
when, in their opinion, the same may
necessary for the safety OF the pubic
Sec. IA. When, by the laws Of any otht
State or nation, any taxes, fines, penaitie
licenses. fees, deposits of money or OF s.
curities or other obligations or prohib
tons. are or would be imposed on lie IL
+ surance companies of this State, doing bus
. ness in such other State or nation, or upo
$ their agents therein, so long as such law
, continue in force the same obligations on
prohibitions of whatever kind shall Dc I'D
, posed upon all life insurance companies
, such other States or nations dong pus
, ness within this State, and their agen
herein.
Sac. IS. When, by the laws OF any oth
State or nation any taxes, mes. pehal1ie
. licenses. or fees, would BIO required 10
paid to or deposit Of money or oil secnf
4 ties made with the treasurer OF such o.n
: State by life insurance companies Oh VI
State doing business in such other o1ate
!. nation, so long as such laws snail cont.H'
n in force, tho same taxes, hnes, pensl.ie
!, iicenses or fees shall be paid to, and depo
u ;,s ~ money or of securities made with. Il
Treasurer Of this State, by the life insuran
comnanies of such other State or matte
: doing business in this State.
Sec. is. Unless any judgment render
in this State against any insurance compaal
sball no maid within thirty day days ait
:, demand made upon any agent of such col
y nany. and notice thereof given to the insu
ance commissioners by tho oihcer hoioil
/ a the execution, the insurance commissions
- NAV suspend the power Of the company
- do business in this State until IT sh'