The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-03-21

Of them. and the entire liabilities Of the said com.
si"s Of every description the Of saes policy
claims masured BY death expiration the ne
rsseivsrsh,p fs snail also show amount Of assets
lies paid. applicable to the rsinsuranee
q o.SrndiS sd sss and upon what term
nsuranss company 70 rsnsurs these risks the whole
rs.psetvsy s shall At The time Ming this report i
emit Of the Insurance Department
Tho gsssys # Of the
solvent e insurance company organized under the laws
ing risks amount assets applicable to REIN
SIS stated IN me sAia and shall invite from
for definite percentage each; and IT, within
Sa notify him 5 ssh s
%ay to h s Of sa s u
able persons az, oIsd y proper 70 all books
nsy DC s 9e then 60 tn, value Of
may H Dy sims r
cate. the prvile extended any lilo
company holding such eertiacae any wi,sia
sixty days alter tho date thereof make the Snpn
tendcnt proposals for the reinsurance of the
9upon receiving such proposals reinsurance the
Superintendent shall carefully consider the and shall
ana Sess his IT, IS & The
interest Of the insured and ths public such
to the said .na the Interests insured aud the
Forthwith 20 execute contract Of with the
With Their said contract 10 BE-
by the court immediately the execution such
70 sSs COMPANY 4. the hands
rights claims Ssia :, the
pany whose risks are rsasu,ea account Of said rsk
such rsinsursd company In sssumns such rk sus
sured Company its officers trustees directors or agents
e
% s a s ~ under
thority which j. executed and shall bear date
s we the " nss sn 1
distinctly the pereentage OF tne entire risks OF said COM
shall provide ina. each Premium PAYABLE policy
tSs %scS the insured Is
reduced thereby The company reinsung shall forthwith
tinuing policy paid Of the rensurancs and of
and when due and such premiums hall have fallen Gas
the date Of contract and shall remain unpald It's
by whom the last preceding premium was paid Of the
an% snail demand with and
such be made within thirty days after due service
date which said premium, is due Snytnns in
s''
so rensured, while he remains in force the
ss '~ .
lions ct s psy.e 'sseps sa9 "cs"
ing 20 No policy Which ssai
OF the thirty
as ssn 20 he'd 20 S IL $
the non-paymsnt Of any premium falling due during this
according Of
the ess. sSa apply
receiver at the time OF the passage Of this act.
III r. him to the
n.tics Of any for or he shall be
Of the public such proposals accspea shall
.n Il a . r,sa @ no 70
be consistently with paslic policy and with
distribution OF the funds OF the company in the
oe
mstursd and besome slain pro. to the date Of snch final
sss whoe BY policy dsdasns
to
crsdtors and that the owner OF every policy which shall
prove his claim of the lawful
6scoms forfeited for payment Of premium fall
pany. but the premium failing due and remainng
paid with interest," shall DO deducted from the claim made
US shall appear to tho from
Of state It's officers. trustees directors any
holders endangered 6y :ssh insomps!saes .,
syasns: her. A.;oiasy General
Supreme .a.psnaas such
amy or g or
until the final order Of the Court and upon hearing Of tho
s sSs ss'S oesr rns.ess any Of
ns s s.a the sa a.
ing such unit Incompetent officers directors aud
all chosen in the nov
or Sy s laws Of Sw s shalt al the
subject to the approval Of the COURT and any person
wh ha ACT ma oicer director or trustee after snch de-
cree of removal be punished by the court for con-
tempt provided this section shall not be to
IN the mower OF any court of this state 10
rrsnt snv other relief against snch or its
oacrrs pon the apncnon or the or of
amy policy holder which IL now las power to grant by
Law 800
shall be thu duty of the nresidant ar v1ce
rssidcn and of every life Insurance.
doll huxiu Wi his
are hereby within sixty days after the Of
this act and the Office OF the Supern.
t.ndent nj the Iusurauce ID pnrtment n full and cor
rect under their sever al oaths of ali the
bonds ana held by such as mart of its
securities which snail contain the location of The mort
ana the amount OF principnl ram nm
ra;d thareon mn VIII tnereon
pnid and aso correct statement OF the several lots
~ raai estate owued Ly such co,nnnnv and iescrin
ton thereof sufficiently to identity and locate the
a.mosted yin the present caiendxr and Ills
nent shall be fully and duly on or before the it
dav of March o. and n To ali bonds
and and ali ~ an estate own.d nv sad