The Portland daily press., 1895-02-06
Senators. Messrs. Spofford. Savage and
Higgins, and Representatives Knowlton
and Keegan.

SeHaIoIs' Iuessrs. SponOru. Savage anu
Higgins, and Representatives knowlton
and Keegan.
INSURANCE LEGISLATION.
The law makers have heard about
reinsurance. valued policies, the
standard policies of other states
and various other things relating to
fire insurance. Now come the life insur-
ance men with suggestions for changes In
the law and 1T seems that the agents are not
OF one mind over some, at least. OF THESE
suggestions. Yesterday afternoon, there
were introduced in the Senate. three Oils
One incorporates the Maine Life Under
writer's association and, SO tar as the re-
turns have been received, the insurance
men agree OF that. The other TWO are aimed
at non-residents, including those subjects
of her Britannia Majesty. where homes are
in Canada and who find Maine good held
for carrying on the insurance business.
The changes made by them to increase the
power of the Insurance commissioner are
those outlined in the PRESS some time
ago.
he bill to incorporate the Life Under
writers association of Maine makes Frank
lin FL. Hazelton, William II. Anderson.
Thurston :. Burns. Archie Lee Talbot,
George P. Dewey. j. Putnam Stevens. and
their associates corporation for the pur-
pose of the mutual benefit and protection of
its members. who shall consists of residents
of Maine engaged in the business OF life in
surance; for the protection of the public
from false ami fraudulent contracts OF life
insurance and from false promises and rep
RESERVATIONS in regard to contracts of life
insurance. for the prevention of Relating
and discrimination in life insurance; for
the promotion of good fellowship. good will
and general culture among its members, and
generally to advance and promote the in
teres:s and advocate the prime iples of regu-
lar life insurance in the State of Maine.''
The capital stock is not to exceed 0,00C
in shares of one dollar each, and the corpo-
ration may hold real and personal estate in
amount not exceeding $4,000. The bill was
referred 10 the judiciary committee.
The first bill whose provisions in regard
to persons not citizens is causing the dis
fol- m of an amendment to section rs.
chapter 9, r. s.. as amended by section 2,
chapter 1l2. Public Laws of 1891. The law
now pTOtldtb lUT the -SSulllS u II 1lCellSt "
a resident of the state.'' The bill strikes
out these words and inserts in their place
others designed to make the law define lust
who are to be conidcred residents. The
amendments relate 10 the agents OF foreign
companies or companies chartered by other
states. AS amended the law would read as
follows: a#N .s49E
.sSection 73- The commissioner may issue
a license to any person to act as an agent
of domestic insurance company upon his
fling with the commissioner duplicate
power of attorney from the company or Its
authorized agent empowering him so to act
or a certificate from the con p-ny setting
forth that such person has been duly APP
pointed and authorized as agent thereof
and to any citizen of the United States who
has for three months had an established
residence in the state, having abandoned
his former residence. if any, in another
state. and TO any alien who has had ar
established residence in the state for three
years, to act as agent Of any foreign com
pany which has received license to de
| business in this state etc.
The present law makes answerable to its
penalties persons who solicit. receive OF
forward applications. for insurance, without
being licensed. ..Theibill eliminates the WORD
forwards, SO that tne mere making by g
clerk of the application which an agent has
secured shall not be an offence. Al
amended the law would read: 'Solicits
obtains or receives.
The other bill amendatory to section "a
chapter 49,, relates to Insurance brokers who
are thus defined blythe bill:
1.-The commissioner may license any per
son as broker to negotiate contracts of in
surance for others than himself for a com
pensation by virtue of which license ht
may effect insurance with any domestic
company: or any citizen of the United
States who has for three months had al
esta blished residence in this state. hayini
aba ndoned his former residence. if any. II
another state. or any ALLEN who has had al
established residence in the state for thre'
years." etc. ggor
| In other words, this bill applies the sam'
conditions concerning residents to insur
ance brokers as does the other to Insurance.
agents. 1t also makes an important chang
regarding the powers of the insurance com
| missioner. giving him the power to revoke
the licenses o: agents and brokers when
!
agentFor broker has yiols ted any OF the pro
| visions of this or the pending section" in
stead of. as HOW. upon conviction for thu
| violation of any of the provisions" etc. Al
agent or broker whose license has beer
thus revoked, ''may appeal to justice o
the Sapreme Judicial court, by presenting
to him petition therefor. in term time o.
vacation. and cause notice thereof TO b.
given to he commissioner; and after th'
| hearing he may affirm or revoke the de
cision of the commissioner and the decision
| of such justice is fina].''
| Both of these bills were referred to the in
surance committee.
AMONG THE COMMITTEES.
II was busy afternoon in committed
! rooms. The judiciary committee. besides
settling the woman suffrage question voted
| to report adversely on the bill for thu
creation of state police force.
Before the Judiciary committee. hon
Henry Lord Of Bangor. E. c. Jordan O.
Portland. Mayor Berry of Gardiner, Percy
| Richardson of Portland and Prof. Hamlil
of the State college advocated the bill fol
the creation OF highway commission. The
committee showed great interest in The