Evening journal., 1899-01-30
BIG INSURANCE BILL.
Exceedingly Important Meas
ure to Be introduced.
MONEY FOR HISTORICAL SOCIETY

CONSTITUTION ORDERED SEN
ATE AND HOUSE MIsCELLAN
EOUS BUSINESS.
STAN Correspondence Evening Journal
Dover. Jan 3O.-In the House @.
Saturday Representative Burns CAV,
notlce OF an exceedingly important IN
surance bill which he viii introduce
to-day or tomorrow X is as follows.
An act to regulate the business OF
fire insurance companies
BE * enacted by the Senate ana
House OF Representatives OF the STATE
Of Delaware in General Assembly
met Ctwo-thlrds OF each branch therein
concurrlng)
Section T. That all fire Insurance
companies doing business IN this state
shall fer the purposes OF this act he
classified and divided into domes. e.
state and foreign companies.
Domestic companies shall Include
only companies organized under The
laws Of this state state companies
shall inc.ude every FIRE insurance COM
pany incorporated under the laws of
any state or the UnNed states ci
America other than this state.
Foreign companies shall include
every fire insurance company incorpo-
rated under the laws Of any state. ma
ton, government or country Othe
than one OF the states OF the United
States,and shall include every state or
domestic company whose charter shall
be owned or a majority o. whose
sock shall be controlled by or whose
business shall be carried on In the IN.
terest or FOR the benefit OF any fire en-.
surance company incorporated
under the laws of any state
nation. government or country other
than one OF the states Of the United
States OF America.
Sec p The president and treasurer OF
ether chief fiscal officer OF every sucf
domestic. and state company doina
business in this state. shall. annually
on or before the 1st day OF February
report under oath 10 the insuranc,
commissioner Of this siate, the amount
OF gross cash premiums received ant
the return premiums paid % policy
holders, for the preceding calendar
year, upon or on account of insuranc,
effected upon property located withiI
this state Every such state and do
nestle company shall pay a percentag
as hereinafter provided upon the ne
premiums realized from insurance ef
fected upon property located within
this state, which premium shall be a.
certained and determined by deductin'
from such gross cash premiums re-
ceived. the amount OF return pre-
miums as shall have been paid to pol
icy holders within this state.
Section g. The president and treas
urer or other chief fiscal officer c.
every such foreign insurance company
dc.ng business An this state shall an
nuaNy, on or before the lst day o.
February. report under oath 90 the in
surance commissioner of this state, IN
amount Of gross premium receipts foi
the preceding calendar year upon in
surance effected upon property lCeate,
within this state.
Sec-ion T. Every such domesti,
company shall annually on or before
the lst day Of April of every year, pa,
to the insurance commissioner sun
Of money equal TO one and one-hal
per cent. upon it's net premium re-
ceipts. ascertained and determined al
aforesaid. Every such state cOmpanl
shall annually on or before the Isl dal
Cf April in every year pay to the In
surance commissioner as a condition
OF its right, privilege and franchise q
transact business In this state a sun
Of money equal 10 one and one-ha
per cent upon It's net receipt
ascertained and determined as af0re
said Every such foreign insuranc
company shall annually on or befor
the 1st day of April In every year pa
I to the insurance commissioner as
condition Of It's right privilege an
franchise TO transact business with
this state. a sum Of money equal [
/ five per cent. Of It's gross premium re
ce.pts ascertained. determined and rt
rcr.ed as aforesaid and without any q,
duction whatever.
Section O. Il shall be the duty Of tn
insurance commissioner to charge an
collect from al such companies III
sums OF money required 10 be paid b
any provision OF this act; providel
however, that il by the laws Of an
ether state, territory or nation,
greater tax or payment than these in
pcsed by this act is charged TO cen
panies charged under the laws of th
staae. then the insurance commission
, snail charge and collect like tax az
payment from companies of such sat
or territory. or nation doing buslne
i'm this state. If any company sha
2 neglect or refuse 10 make the pa
z ments required by this act after d
z mand therefore has been made or
it shall make any false statements
e report under the provisions cf th
lact. the insurance commissioner shi
revoke the license OF such compal
G doing business in this state. II al az
r time the state insurance commission
- has reason 20 supect the correctne
o. Of any report required by this act
may at the expense Of the state ma
an examination Of the books Of
y company making sucn report or OF
" agents for the purpose OF verifying {
h same; and II such examination sh