Birmingham state herald., 1897-02-27

| I agents thereof.
 l Sec 21 That no written or oral mis- l representation or warranty therein made, I in the negotiation of a contract or policy Isef life insurance, or in the application r therefor or proof of loss hereunder, shall | be deemed material to defeat or void the policy, or prevent its attaching, unless such misrepresentation is made with ac- | tual intent to deceive, or unless the mat | ter misrepresented increase the risk Of | loss. Sec. 22. That no life insurance company | shall contest claim under any policy of insurance on the plea of fraud or ir- | fegularities in application after three an- | nual premium payments have been made on the policy, but must pay the full
 amount of policy within sixty days after proofs of death have been received at the home office of the company in the United States. Sec. 23. That no policy of insurance is- sued to a citizen of this state by an au- thorized company organized under the
 laws of foreign country, shall be invalidated by the occurrence of
 hostilities between such foreign coun-
 try and the United States. Sec. A. That the treasurer of the state, in his official capacity, shall take and
 hold deposits made by any domestic insurance company, for the purpose of complying with the laws of any other state to enable such company to do busi-
 ness in such state, and shall also, in like manner, take and hold any deposit made by foreign insurance company under any law of the state. The company mak- ing such deposit shall be entitled to the income thereof, and may, from time to time, with the consent of the treasurer, when not forbidden by the law under which the deposit is made, change in whole or in part the securities which com- pose the deposit, for other competent se-. curities of equal value.
 Upon request of any domestic inSur ance company, said treasurer may re- turn to such company the whole or any portion of the securities of such company, when he shall be satisfied that the se curities so asked to be returned are sub- Ject to no liability, and not required to be longer held by any provision of law or purpose of the original deposit. And he may return to the trustees or other rep resentatives authorized for that purpose, of foreign insurance company any de- posit made by such company when it shall appear that said company has ceas- ed to do business in the state and is un- der no obligation to policy holders or others persons in the state or in the United States, for whose benefit such de- posit was made.
 Sec 25. That it shall not be lawful for the directors, trustees or managers of any insurance company, incorporated by the laws of this state to make any dividend, except from the surplus profits. Any div idend made contrary to this act shall sub Ject the company making same to for feiture of its charter.
 Sec. 26. That the insurance commits sioner shall collect from each company filing a copy of chartber or deed of settle ment apd financial statement one hun dred ($1000O dollars, and same amount with each annual statement thereafter fo the privilegt of carrying on it's business in the state of Alabama; for each eertifi- cate of renewal thereof, to an insurance agent or solicitor two and one-haf G2.50) dollars for each seal of office, with certifi- cate, one ($1.00) dollar; for copies of amy paper on file or deposit with the insurance commissioner, or in his office, ten Q0) cents yeh u.atrbn i--llt shal th- arod cents per hundred words. Provided that the auditor shall pay upon vouchers ap- proved y the governor out of this fund alone the expenses of the insurance de- partment.
 Sec. 31. That no life, nor any other in- surance company, nor any agent thereof, shall make any contract of insurance, nor agreement as to policy contract, other than is plainly expressed in the policy issued thereon; nor shall any such com pany or agent pay or allow, or offer to pay or allow as inducement to insurance, any rebate of premiums payable on the policy, nor shall any particular policy holder of the same class be allowed any advantage in the dividends or other ben efits to accrue thereon, or any valuable consideration or inducement whatever not specified in the policy contract of insurance. Any company or agent di- rectly or indirectly violating this section shall be held guilty of misdemeanor, and upon conviction shall be fined not less than one hundred ($100.00) dollars nor more than five hundred ($500.000) dollars for the first offense. and shall be fined not less than two hundred and fifty t$250.00) dollars for each subsequent of fense.
 Sec. 2S That any person who solicits insurance on behalf of any insurance company not organized under or incor- porated by the laws of this state, until such company has fully complied with all
 the requirements of this act, and until such company has received from the in- surance commissioner the certificate of authority to transact business of insur- ance in this state, or takes or transmits,
 other than for himself, any applications for insurance, or any policy for insur- ance, to or from such company or in any way gives notice that he will receive or transmit the same, or receives or de-
 flyers policy of insurance of any such
 company, or examines or inspects risk, or receives, collects or transmits any premium of insurance. or makes or for wards any diagram of any building or buildings or does or performs any other act or thing in the making or consum-
 mating of any contract of insurance with or for any insurance company, other
 
 or aids in adjusting any loss or on be-
 half of any such insurance company, whether any such acts shall be done at
 the request or instance or by the employ ment!of such insurance company. or Of or by any other person, shall be held guilty of misdems amor. and upon conviction by a court having jurisdiction, shall be fined not less than one hundred G100 00) dollars nor more than five hundred tS50O0 00) dollars, or may be imprisoned in the county jail not more than thirty (3O) days or both at the discretion of the court.
 Sec. 29. That any agent or person shall be personally liable for th. full amount of loss sustained on all contracts of in-
 surance unlawfully made by or through
 him. directly or indirectly for or in be- half of any insurance company not au-
 thorized by insurance commissioner to
 do business in this state at the time of
 the application for such insurance was
 made, or at the date wh=n such insur-
 ance policy became effective. tsa
 Sec. 30. That any person who may de-
 sire to place his insurance in foreign companies not authorized to do business in this state may place such insurance,
 but the person placing such insurance
 shall at once make return of his. s.action