The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1875-04-03

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annd dnllnH6f nftual pnid .up rHminl. rsrlU.
/ niyr NJ huN ntrtil uf my U1Nl tulu n.y. M
Hlitl hu CpuHltrl ln WlN NJ goo NiNfH ~ Ni.
[ iit Insured tinfHlui nud nny nuHil company
/ dO.irup in trUHIW iug lu0n hu llt.' on
nfprDfHld, H. tllH rtltri iuty ho nuru W. hhf
nelloH ar II part tuofOUf accrued, nul #null
appoint one attorney In he state, uud shhll
/ Ole with the comptroller Of Hihlu u WIl!lch
| instrument, duly signed ana Nohlou, pulhul
| lllng sucli attorney Of such conpnnl 10 90
| knowledge service Of process Tor ma ~ pc
| hAlfofEuch company IN Notwithstanding
| that such acrylco OF process, inusne or Hnul'
and held as valid rs II served upon
the company, nnd service OF process
may be had on any such company by dtlY-
erlng II copy thereof to the president, sccrc-
| tnry or treasurer Of such company, according
! to the laws of this state, ana wnlYlng nll
claim or right of error by rcnson OF such &c,
acknowledgement orscrvice, nnd Hlso certlnru
copy Of their charter or decd OF settlement,
| together with Il statement, under the Onth OF
| the president or Vice president, orothor chlef
officer, md the secretary OF the company lof
which they may net, stating the name OF me
company and the plnce where located, me
amount of its capital, with II detailed state
ment of the facts and Items Ms required nom
companies organized under the laws of this
statcas per section seventeen hCrrof;undH'inl
also file the cert illcnte OF compliance WIN
/ the laws of their own state; ana no agent
| shall be allowed TO transact business for amy
| company whose capital Is impaired bv the
| liabilities, ms stated In section seventeen OF
| this act, To the extent of twenty-five per
cent thereof, while such deficiency shnll
] continue,
Sec. 20. II shall not be lawful for any agent
or agents to act for amy insurance company
or companies referred to in TINS net, IN tAR'
| ing risks or tranSacilng business OF insurance
| in this state, without procuring from the
| comptroller of state II certihcntc of author
| ity, stating that such company has compiled
| with all the acquisitions of this act
| Sec. q. The statements and evidences OF
| Investments required OF foreign companies
as above. shall be renewed annually IN such
manner and form rs required by this act'
and MS said comptroller may direct, WIN
| any addi ional statement of the amount OF
| the losses incurred or premiums received IN
| this state during the preceding peliou, SO
| long ms such agency continues; and the shid
comptroller, on being satisfied thnt the cnnl-
! al, securities and investments remain
secure, MS hGreinheiore. provided, Rhn inf-
nish newal of his certificate MS aforesaid
Sec. ~. II shall be the duty of the comp
| troller OF state upon receiving reliable in'or-
nation that the affairs of any insurance
company, incorporated by, doing business
| in this state, are in an unsound condition ny
impairment Of capital or otherwise, to cnli
upon any such company for iull statement
neglect of any company TO answer tllr feQu'-
stion, or, If the exhibit be unsatisfactory TO
him, he shall make the examination NM
self or appOint one or two persons, MOI Oln-
| GERS emDlOyes or agents OF any insurance
company and il shall be the duty OF the Of
ticers or agents of such company or cunlpn
MES to cause theiI books and assets TO ne
opened for the inspection Of the comptroller
or the person or persons so appointed, ana
otherwise facilitate such examination aS ar
rs may be in their power so TO DO ana nor
| the purpose of arriving ut the truth IN such
cases, the comptroller, or person or persons
| so appointed by him, shall have power 10
examine, un Ter oath, the officers or agents
of any company or Others, If necessary relnt-
ing To the business and.coEdtiion otsa!d com
pany; and whenever the comptroller snall
deem II best Tor me intr.S. o. ne m ncn in
ycstigation in one or two papers OF the state
one of which shall be published IN the coun-
ty in which the principal Office OF Saiu com
pany is located and whenever 1t shall ap-
pear to said comptroller from Such cNaihl-
nation, that the assets and funds of any
company Incorporated Ia tEis Sta'e are e.. To-,
company, nS described under the head ol ma
bilities IN the statement required ny ms
, act, more than twenty-five per cent below
the paid up capital stock required ny tllS
act he shall direct the officers thereof 10 re-
quire the stockholders to pay IN the amour,
of such deficiency within Sixty DAYS IRON
the date of such requisition. should san
. company decline or willfully neglect IL
make good said deficiency, he shail com
, muncate the fact to the attorney genera
of state, whose duty II shall then become u
= apply to the dstri 4 court, or, II in vacation
: to one of the judges thereof, for an orderTe
| Quiring said company to snow cause why
f their business should not be closed ana I'M
court or judge, rs the case may be' silhl
a thcreupon proceed TO hear the allegation
, and proofs of the respective parties; ana u
: case il shall appear 10 the satisfaction OF Sill'
1 court OF Judge that the assets and funds Il
said company are not sufficient as aforesaid
or that tile interest of the public require II
' the said court or judge shall decree = dissn't
tion of said company, ana distribution q
its effects; the said court or judge shall nav
:. power TO refer the apple ,tlon or INC hiiDl
ney.genernl o. state 10 ItiSrrr, ~ lr1'r
: and il the comptroller, upon examination, !
= satisfied that the affairs of any inSuinnc
r. company doing business IN tni' StttS' an III,
u sound condition, he shall revoke the certll
!; cate granted IN behalf OF such company, an
i shall cause the notification lhervoi 10 u
y published in two newspaper in general ell
!, culation, published in this. state, one {
\ which shall be published in the count
y where the principal Office oil Such colipal
!, is located; and the agent or agents OF sue
~ company are, after such notice, required l
: discontinue the issuing of any new poilcS
n n or the renewal OF any previously Issued: rH
y such examination, ordered by tnc compton
: Ter, under this act there shall be allowed l
= the person or persons making such "Naihih
!, alton the amount of ten dollars per MY no
. lars, together with actual travel ny expense
l. to be paid, on the comptrOllci's certificate
{, by the company which is the subject OF Suc
20 Investigation.
a Sec. ". Any company receiving the aiore
l.. said requisition from the said Comptroller
Il shat forthwith call upon its stakeholder
u for such amounts as viii make its paid u
= capital equal TO the amount filed by inns ac
y or the charter of said company; ana cas-
= any stakeholder shall refuse or neglect TO pa
!; the amount so called for, after notice pei
u sonally given, or by advertisement, In sue
= time and manner as said comptroller shaI
|, approve, 1t shall be lawful for the said com
y pany to require the return OF the origina
y certificate of stock held by such Stockhode
and in lieu thereof to issue new certificate
. for such number OF shares as the said stocl;
,, holders may be enti led to, in the proportlo
VI that the ascertained value of the runds {
the said company may be found to bear {
y the original capital of the said company, TIL
!. value of such shares for which neN
u certificates shall be issued, to be ascel
u tanned under the direction of tn
u com ptroller, the said company payin
/ for the fractional parts of shares And
y shall be lawful for the directors of such CON
> pany to create new stock and dispose of III
= same, and to issue new certificates therefor
to an amount sufficient to make up the or
u ginal capital of the company; ana in III
event of any additional losses accluing upo
= new risks taken upon the eXpirat on of tn
- period limited by the said comptroller In I'll
c aforesaid requisition for the filling up of tn
deficiency in the capital of such company
. and before said deficiency shall have bee
q mndo up, the directors shall be individual
=, liable to the extent thereof.
Sec. n. There shall be paid by every com
pany. association, person or persons, agen
Y or agents, to whom this adt shall apply, lll
= following fees For filing and eXominatio
l. of the first application of any company an
, issuing of the certificate of license Thereon
q twenty-five dollars for filing each annuf
statement herein required, ten dollars "a
. each certificate of authority, one dollar q
. every copy of paper filed as herein provided
the sum of ten cents per folio, and nifty cent
:, for certifying the same and ailiNing the SCI
'i of Office thereto; which fees shall go to til
II comptroller for the payment OF the sal ry
an insurance clerk and the comptroller
;, he eby authorized and EN- pOwercd, upon Ia
81 passage of this act, to appoint suitable pei
!. son experienced in the business of lnsuranC
II as clerk of the insurance department, who's
duty IL shall he, under the supervision an
q direction of the comptroller, to attend to II
u matters in detail connected with insurant
y in this s. ate and said clerk shall receive !
V full of all com pengntion for his services tn
u fees exclusive of taXesl required 10 be pal
by insurance companies under this act.
Sec. 25 When, by the laws OF any oth6
u state, any taxes, fines, fees for certificates
VI license, penalties, deposits OF money or
securities, or other o legations or prohib
u tons, are imposed upon companies OF IN
state, as condition prior 10 doing bnsine'
. in such other state, the same obligation
7, shall be imposed upon all insurance comp
MES of such other state doing business J
this state; and such companies rrquired !
d., make deposits in this state are likewise r.
i' uuired 10 make said deposit either In til
bonds of the state OF Texas or III the currei
n cy of the United States.
Sec %. 1t shall be the duty of every sue
insurance company doing business in III
l. state, organized under the laws OF this stat
n or any other state or country, topubl sh one
5, Annually, in two newspapers OF general ,, q
= published at the capital OF the state land 1
case of companies organized In the state