Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-01-07

mouth and Primers Point Drawpridse
Company.
BY Mr.. Hay: For the relief Of George
W Bedsoe. OF Madison county. va.
BY Mr.. Green: To incorporate the VIZ
ginia Securities Company
10y Mr.. Withers: To authorize a vote
In the city Of Danville and town OF Neap.
oils upon the question Of anneS'hg sa'o
city and said town ia one city.
BY Mr.. Green: To incorporate 'he
Wythe County Railroad Company
By same: To amend the charter OF the
Bland County Land. Improvement. ana
Development and Transportation Ioin-
pany so that IL may exercise the rishts'
powers, and privileges " railroad COM
pany.
HOUSE BILLS PASSED.
The following House bills were passed !;
Providing for the lcvying on seed cotton
In the field in Brunswick county
Amending the act incorporating the
I.vnchburg Traction Company so az 10
extend the time within which construc-
ton shall be begun and completed
House of Delegates.
Only about one half OF the members
Of The House were In their seats when
Speaker Ryan assembled TO his chair ana
sence of any minister there was no
prayer. and the business OF the session
xyas proceeded with. The calendar was
very light. having been pretty well clean
ed I'D before the holidays. hut many Oh
the members had bills to introduce anu
come very important measures were ialu
before the House.
BANKING AND INSURANCE. DE-
PARTMENT.
Mr.. Berkeley, of Roanoke, introouceu
a bill somewhat in line with one Oh lhe
recommendations contained III the 'oN
errors message, creating uepa' lin'"'
OF banking and insurance In inns S'd'e'
and providing for the election OF au-
nerintendent thereof by the Legislature
each four years. The bin proVides tnat
the department shall be charged WIN
the execution Of all laws no" III 'oiSo'
or which may be enacted hereafter re-
lative to the business oil bahkli's' ~
surance. savings, trust. guarantee sur
deposit. indemnity, mortgage anu
loan corporations, and building asSOcia
tions doing business in Virginia.
Tho superintendent shall be PAID S'ooo
n year and he shall employ deputy
at 5000: an insurance and bulldhs anu
loan actuary at $3.50. DoOK-keeper ~
q fno. q stenographer at $1,000. and
messenger boy at $500. The superihteh-
dent. or his deputy, shall semi-annuaily
examine all the banks, ana ahhudhS N
anime all the local insurance companies
and building and loan ASSOCIATIONS anu
receive annual reports from the forelsh
insurance and building and loan asso-
Citations doing business "itN"' NV
ers of Virginia. ...,
The Gftv-three banks Of less capital
,ban s95 600 shall pay $lj for each Semi
annual examination; the seventy pd"Nn
whose capital is over S2o,VW' shaii pay
coo ,o- each semi-nnnual examination;
r. tyentv-three local insurance COM
panIes shall pay $50 for each annual eN-
animation; the 1i9 insurance coitpaulIS
shall nay $50 for the reception oi me-
annual reports; each OF the Low lueai
surance agents shall nave Ger '''iV" -
fo- the issuance Of which a Zee OF =
shau no charged; the eighty-three puilu-
tnr and loan associations shall pay soo
co. Zach annual examination; the loo
h,udinq and loan associations VINO me
annual reports shall accompany thSii -
oorts with a fee of $50, ana IN auul.,oii
70 This each charter and bylaws i"eu
nm tho superintendent as required III
mis- act will have to be Accompanies =.
a fee of SO The department s,iai p
Maid $3.50 for any notice or Pup'1" =.
issued by the superintendent anu
couving and certifying any recoiu' % 80 a.,
denartment fee OF ~ Genus pc I'll
and 81 extra for afiixine the Seai s""''
be charged 49,. ,.u,s noyy In
,orca 4, New York, Massachusetts MARY
It'd New Jersey, and other S'"'N'
having departments Of this character
NEW INSURANCE LAW.
A.. pucber introduced a bill In iei"
zion 10 insurance companies ana asso0'"
,ions The bill reads as iolloNS:
re IL enacted by the General assem-, NJ
of Virginia. That whoever solISi.s' -,
o,,.as ar receives I'm or transmits
~ S,ote any application other IMAM nis
o,.,, for membership or insurance III any
oorno,ation or association doing an IN
s.,,,.anca husiness shall be deemed anu
ia 10 he an agent Of such corpora.,o"
80 associot zion within the meaning OF TINS
cha.ter. ...,,o,.,. ,,non
All life and fire-insurance pohcles upo"
the lives or property OF persons "i'" 80,
tho commonwealth. whether lssueu y,
,..,,a,tos organized under the laws oil
mis- state. or by foreign corporations
doing business therein. which contain any
reference TO the application OF 'he III
snred or the constitution, py-id"s' vi
other rules of the company ei'her 90
forming part of the policy OF contia1'
between the parties thereto or h"Nlne
a,v hearing on said contract, shall con-
80 or nave attached 70 said policies cor
rect copies of the application, as sisheu
-, .hn annIicant and the bylaws re-
ferred to; and, unless so attached anu
ACCOMMODATING the policy, no such APP
niicatton. constitution, OF bylaws snail
he received in evidence in any cohlio-
versy between the parties 70 or lhteieSteu
i'm the said policy, nor shall such "ppH-
carton or bylaws be considered part
Of the policy or contract between such
parties ...,...
M oral or written INSTRUMENTATION
made i'm the negotiation of contract OF
policy of insurance by the assured or III
his behalf shall be deemed material or
defeat or avoid the policy or prevent lls
attaching. unless such misrepresentation
Is made with actual Intent TO deceive OF
unless the matter misrepresehieG III
creased the risk of loss
No insurance company or association
snail cancel a policy issued against loss
by fire upon property In TINS state WIFI
out giving the party insured at least live
days' notice in writing of such intention.
and a return Of the ratable proportion OF
the premium for the unexpired term OF
the policy.
In the event of the total destruction
of any insured building on which the
amount OF the appraised or agreed loss
shall be less than the total amount Ill
sured therein, the insurance company or
companies shall return to the insured the
uncc, cred premium for the excess of IN
surance over the appraised or agreed loss
to be paid at the same time ana in the
same manner as the loss snail be PAID.
SEE THAT BONDS ARE GOOD.
MIR. Diegs offered the following. which
was referred To the Committee Tor
Courls of Justice: Whereas judgments