Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1897-03-10
rHn viishMHN'5 DlLnl
An All for the Taxation ofprelhldml
Of Fire Insurance Companies


ofthe legislature at Santa Fe, yester-
day, and will become a law by the zig
nature Of the governor;
BE IL Enacted By the Legislative ASSEM-
bly, of the Territory of New Merico:
SECTION 1. There shall be paid 10
the treasurer OF the fire departments Of
every city. town or village OF this Ter
ritory, whether incorporated or unin-
corporated, having a fire department,
company or organization, for the sole
use and benefit Of such department, or
TO the treasurer OF o fire department
within the fire limits as established by
law, OF an Incorporated town or VIII
lage, and when no treasurer OF a fire
department exists, then to the treasurer
or other fiscal officer Of such city, town
or village, or 10 case Of an u%nIncorpor-
ated town or village, to the treasurer
OF the county In which such town or
village Is situated, who, for the pur-
poses Of this act shall have the same
powers as the treasurers OF fire depart
ments, on the first day OF August OF
each year, by every person who shall
act as ngent for or on behalf Of any
foreign fire insurance corporation, as
ISOLATION, or individual which insures
property against loss or injury by fire,
the sum Of 80 upon the sum OF the
800, and at that rate upon the
amount of all premiums which, during
the year or part Of the year ending on
the last preceding S1st day OF May,
shsll have been received by such agent
or person, or received by any other
person for him, for any insurance
effected and procured by him as such
agent or broker against loss or 10.
jury by ire upon property situate
within the corporate limits OF such
city, town or village, or within the fire
limits Of such unincorporated town or
village.
Sec. 2. No person shall, as agent
for any such foreign insurance corpora
ton, association or individuals, affect
any insurance upon any property
situate in any city, town or village of
this Territory, upon which the sums
specified In the preceding section are
required to be paid, or as such agent
procure such insurance to DO affected,
until he shall have executed and de-
livered to the officer to whom such
account is to be rendered and such
payments to be made, q bond 10 such
fire department Ia the penal sun of
$500, with such sureties as such
or other fiscal officer shall
with a condition that be will
annually render to such treasurer or
other fiscal officer, on the first day Of
August in each year, a just and true1
account, verified by his oath that le
same is true. of all premiums YSiob.
during the year ending on they5lst day
Of May preceding such Jgport, shall
have been received BY him or any
other person for hiRss for any insurance
against loss or isjI6r by FIRE upon prop
erty siiualssd in such city, or village,
which ssasall have been affected or pro-
Cured by him, to have been effected by
any such corporation, association or in
dividuals, and that he will annually, on
the first day OF July in each year, pay
to such treasurer or other fiscal officer
two dollars upon every hundred dollars,
ana at that rate upon the amount of
such premium. Any corporation, as
ISOLATION or individuals, having
authority to transact business In this
Territory, on filing a bond in The penal
sum Of 81, 500 with the auditor Of the
Territorg Of New Mexico, that 1t will
make its account and pay the sums SO
required to be paid, may effect ouch
nsurance<naaarns>town Of village,
wherein ifrh. no agent.
Sec 8 Every such person who shall ef-
feet any such INSURANCE without having
executed and delivered such bond,
shall, for each offsnse, forfeit 5000 for
the use and benefit of the fire depart
OF such city, town or village, to
be collected by and In the name Of the
fire department, treasurer or chief
fiscal officer OF the city, town or village
In which said property Is situated.
The treasurer Of the county 10 which is
any town or village having no
Gre department, company or organiza-
lion receiving any money under this
shall, on the fifteenth day of
in each year, apportion and
pay over all such moneys so received
to the t~reasurers of such of the several
fire departments and companies as are
July organized or incorporated within
he limits OF such counties. III he shall
or refuse to- perform any or all
81 the duties required by this section,
be shall forfeit the sum OF 5000 for
every such neglect or refusal for the
use and benefit of such fire department
and company and the chief engineer of
he fire department or the foreman of
my company may sue for and maintain
IN action in the name of and for the
,snedt Of such fire department or com
,any for its proportion Of the penalties
prescribed by this section.
Sec. 4. Every person whose prop-
'rty shall be insured in violation Of
Iection 8 of this act, and every person
having the care or charge of property
insured, or of policies of insurance
placed 10 violation OF such section, as
gent or trustee for another, who shall
efuse or neglect to exhibit to the officer
by section 2 of this act, to
'eceive the per cent. of premium in
UGH section provided, all policies SO
placed upon such property, OF shall
or refuse to give to such officer
ull Information as when, by whom, ,
md in what corporation or corpora,
ions such property shall be insured, J
md the name Of the agent. broker or ,
'ther person connected with the effect |
ng OF such insurance, upon demand
icing duly made by such officer. shall !