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


aay Of February in each year thereafter; but nothing
herein contained shall DO construed affect
force No officer; director trustee Of e nsur-
enolunr his in attending the meetings of
ciss paid to such companes or upon commissions upon
r ,ss ssd Of amy e pcsy 10 Or
for loans 2, upon any loan rom such com
relative of ocer director trustee. No officer,
dsss.or OF trustee Off fs Insurance company shall Ss an
po,tory Of In which the company which
oSsys funds Or other Securities on DEPOSIT '
,c y s S s h wss s Of the
20 resolution OF the senate Assembly OF this
% this %
the then 9, terms sns such sssa Company ose ss
trustees OF such company who may BIO respon-
Of them shall unless the time extended or the reears.
"s sse s for by
the Attorney General the information OF this supern
people, and any penalties recovered under this section
shall oe paid oyth superintendent into the treasury OF
snc a.any lfe Insurance company now or hereafter
written consent Of the owner Of It's capita.
s tue s 1
eiSsn for six weeks IN tue state news
is
s ~
OF the Insurance Department copy OF It's charter 50
signed BY the president and majority Of its drsc,o
sent Of in Of it's To- sSsh
increase Whenever such declaration
psrptsnGens Insurance Depsr.mens Il shall become
h%
to have been amended IN accordsnce with the provisions
liver i with sad written aocarasion and Consent bssk
reeordsa In book kent IL oies such purpose aud
shall upon demand furnish 70 the said corporation eer.
pora5n shall have received from the Of
and directors thereof open books receive
such amssded ehsrter and books open until
alter satisfactory proof Of sach payment has been fur.
nissed sa,a said company sh. then pro-
amone the subscribers When SAID Superintendent shall
CURED by the amended charter OF said company
fully paid in cash. h. snail furnish such company with
proofs payment capital osss%s With the csasS
Sni Certified copies
hd in the county Clerks ONCE Of the county whore the
be used in evidence for and against the corporation in ali
company shall have to determine by bylaw
what rumbef Of directors not less than seven shall coust
SEC - Whenever tine superintendent shall discover that
shall be his duty TO require the same to be made good
within such time and under such CONDITIONS as he may
shall refuse neglect to the called for after
and the said superintendent shall approve
shall DO law for the said to require the
stocsho,as, ~ ne proportion That the asee,.ansd
the superintendent made the value OF such shares
certaned under the direction OF said superintendent,
sHS @ ns S
ate stock and dispose of the and 70 issue
original capital Of the company herenbsiore described
the rsaussn Of the Il shall Se his duty to
report the facts to the Attorney General whose duty 1t
order requiring said company Co show why the tus
shall thersupon the allegations and proofs
respective parties and IA shall appear tho
to o"%py wisn the roaassion the
receiver Of effects who shall proceed Us by
the seventh sss.isn 81 this "S The supreme Coa. sa
era referee to nqureand report the facts stated
SEC 23No lie insurance companyaorg anzed in this
State shall make any loan upon the pledge Ct any stocks
such company by law to purchase and hold
SEC 24-Tf twenty more,pocy holders holding poll
cies to the aggregate amount VI not less than $4,000
wiling properly asEnowsdssd AND a.ss.s saass the
aS or % o. .y {: Il
directors trustees, in case the company has been
stating the tor such and upon
4 S p can ss M
which to all the policy holders TO all
to S
a
psny il shall be duty said snpera.
Sss
no s Or % .s YIN no S
will cause such proceedings he shall forth
Ss WITH Of ssS w a ss
Re e the ssy
such ~ he shall deem lawful and aud
his favor action upon The Company
Or trustee sG be pr against yth not
Of intended motion Il the said supernen shall
bic commence such proceedings. no shall give his
for ."sh decision and nS said app
Court In the county where such company has its
themselves and all oher policy and stockholders
whC my no PARTIES by
s ssd w T. s s
previous notice the time and place when any pre-
@ BE- As sa
application to the court have right TO be made party
thereof without the consent in wiring Of the
ton Of the Attorney General 10 made at any time
% S Dy Il :s' % a "s p.
from the asset. Of said company except the ordinary
essdn;s s w tho C"u % on On Any final
Ss
tanned for any cause OF action sub is by this
is s sn
residents OF this state q any company Of any other
ana amount their cause causes Of to
Of r. &C. ss
competent person duy aa,horzed to maze an mmedato
found ubstantiay true. require said
planned OF to the ground of complaint default
thereof forth with revoke the authority OF said company
to do business In this state.
Skc 25-No life insurance company organised under the
laws oft State shall make loan pledge OF security
To other life insurance company receive such
loan pledge from such and director
trustee officer counsel attorney. appraiser agent
actuHry In behalf of lite assoca
ton organized within this state who shall either directly
indirectly participate in transferring peding loanng
investing the property funds OF such company
contrary to this IN violation OF
OF this state shall be deemed guilty OF misdeme
shall be punishable eetor by hne Of less than
~ 900 than $4,000. by imprs
period OF not less than thirty days than Ave years.
by both such tine and In the discretion OF
the Court.
SIC 70 Every officer Director trustee agent OF any
life insurance company organized under the laws of this
State. attorney for this State OF
pany OF another state doing business In this state who
shall knowingly make participate in making @
publishing any false fraudulent statement return