Evening star. [volume] (Washington, D.C.) 1854-1972, 1888-02-01
NEW DISTRICT LAWS.
A Bill 10 Regulate Insurance-Ameud.
ing the Landlord aud Tenant Acts.

The judiciary subcommittee OF the House Dis
trct committee held a meeting to-day. They de-
cided to report favorably to the fun committee TO-
morrow the bill amending the law relating to
serving summsnses upon delinquent tenants 80
as to make II lawful to hand the summons to
servant or child above twelve years old in the alb
sence OF the principal, or to post the summons on
the door.
They adopted favorable report also upon Mr.
McComas' bill to regulate insurance in the District
OF Columbia These bills were approved without
amendment, and will probably be acted upon
favorably by the full committee.
The insurance bill provides that no company or.
ganized or Incorporated within the District OF Co
lumba shall transact the business OF insurance in
any OF its branches unless the whole capital Of
100000. shall have been actually and IN good
faith paid up In FULL In cash, nor unless the com.
shall have assets 3, as required
side within the District and the District Commits
sioners, or any TWO OF them, shall have ascer-
tory evidence nled at their ONCE, and shall
have given the company authority to act
Every insurance company doing business in this
District must transmit to the Commissioners OF
the District statement OF its condition and bust.
ness for the year ending on the preceding 3lst day
on the first day OF January following, or within
sixty days thereafter, except that foreign compa-
niles shall transmit their statement OF business,
the following first day Of July, which statements
must be in form and state the partic-
uars required by the blanks prescribed by The
two OF them, may require at any time statements
from any company doing business within this Dis
OF on
elicit, full exhibit Of its business and standing,
all Of which statements herein required must be
dent or vice-president, with those pf the secre-
tary or actuary. No company having neglected
TO nile statement required Of it within the time
manner nrpSrrihta6 ON h,,sl nooo
after notification by the Commissioners, or any
two OF them, while such neglect continues; and
or to make
forfeit one hundred dollars for each days
neglect Every 1re-insurance company, to entttle
to transact business this District shall have as
sets equal to its liabilities, including reinsurance
reserve liability equal to so per centum OF pre-
amount proportional 10 the unexplred time upon
all other fire risks. Every company doing an In
its liabilities, including reinsurance reserve la
all unexpired inland or marine riska Every life
insurance company shall have assets equal to its
liabilities, including reserve liability computed
upon the basis OF the American experience
c caDe OF 1sty a5d -FOUR s and ons,half per
business in the District the commssonsrs or
such company has the assets above required. and
shall revoke such authority whenever satisfied
That the assets Of said company have fallen below
Such requirements, and II such company has been
organized within the District shall institute pro-
ceedings to nave the same wound up by due pro-
cess or law. No insurance company organized or
Incorporated under the laws OF any Of the United
states OF America or Of any foreign state coun-
Try. snail transact the business OF Insurance In any
OF It's branches within the District OF Columbia
until the company shall have duly constituted
some proper person domciled in the District their
agent and attorney for the purpose Of receiving
Tor them Summonses, writs, and processes issuing
out OF any court having any Jurisdiction in the
District. This agents credentials must be
filed with the Commissioners
ANY insurance company or their agents acting
In violation OF this act shall be subject to u PEN
atty or 500 for every ofiense