The Greenville times. [volume] (Greenville, Miss.) 1868-1917, 1886-04-24
Insurance LaW-URliCenSed COmpa-
RIeS.

niles.
AN ACT to regulate sud control
such insurance as cannot be pro-
cured in licensed companies,
and TO derive a revenue there
from:
Section l. Be it enacted by the
Legislature Of the State of Missis-
sippi, That the Auditor of Public
Accounts be and he is hereby
authorized to grant a special
license to any agent or firm of
agents who are at the same time
the agents of two or more author.
lied fire insurance companies that
shall have made the deposit in
the treasury as required by law,
and complied with all other laws
of the State, for the regulation of
insurance, authorizing such agent
or firm of agents to procure from
companies not authorized to do
business in the State, policies of
insurance on property located in
this State, in eases only where
such insurance cannot be procur-
ed in companies that have com.
piled with the laws of the State
and made the deposit as aforesaid,
whether such companies be rep.
resented in his or their agency or
some other agency of authorized
companies; Provided, that the per.
son or firm applying for such
license shall name the authorized
companies represented and furn-
ish satisfactory proof of his or
their agency, shall give bond In
the sum of FIVE hundred dollars,
conditioned upon strict compli
ance with this aad other insurance
laws of the State, and for the faith.
fnl accounting for aud paying over
tho taxes required hy this Act,
and shall also pay a special privi
lege tax of twenty-five dollars for
the license herein authorized; the
Auditor shall be entitled to fee
of two dollars for taking aud filing
the bond and granting the license.
See. 2. BE II further enacted,
That agents licensed and procur.
ing insurance under this Act shall
keep o separate account Of all
such business, showing the name
of the party for whom insurance
is procured, the kind aud location
of property insured, the amount
of insurance under each policy
the name of the company insuring
with the date and term of the pol
icy, which shall in no case exceed
one year; said accounts shall be
open to the inspection of any
State officer, revenue agent OF
collector, and to the special agents
or representatives of the licensed
> companies in bis or their agency
such agent or agents, shall on th,
Z, first day ofJanuary, April, July an,
= October OF each year, report t,
: the Auditor of Public Accounts
: giving full statement of the in
surance procured under the pro
! cured under the provisions of thi
= Act, and pey to the Auditor at th
: time of making such report, a tai
of one.tenth of one per cent. ol
e the insurance thus procured, les
. the amount of special privilege Ia
+ paid upon this Act, for which th
: Auditor shall allow credit, only ol
the business of the year for whicl
such license was issued the agen
or agents shall make oath to tn
n correctness of said statement an,
also to tho fact that the insuranc
i could not be procured In compa
nies that have made the deposi
= and complied with the laws Of th
1 State; no agents shall be requires
$ to place in any one company NOR
than 5 per cent. of its paid up CAP
. itsl, before availing himself Of tn
= privileges of this Act.
Sec. 3. BE it further enacted
n That any person, firm or corpors
!. tion owning property in this State
n may procure insurance on sam
q in companies not authorized t
q transact business in the State b
making oath before the CHANGER
clerk of County in which propert
!, is located, an affidavit that th
amount of insurance that shoul
3. be OH such property, cannot be OF
q tanned at a reasonable rate in con
panies that have complied with til
i laws of the State said aflidayi
II shall be written on the policy. an
!, shall be as follows, viz: IL certif
on oath that this insurance coul
not be obtained at a reasonabl
rate in auy company, authorize
# to do buslnessln Mississippi" an
O shall be signed by the party; th
q clerk shall administer the oatI
!. and certify thereto; at the sam
a time he shall register such polio,
.. noting the name of the party il
sured, the kind and location {