The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1900-03-01
State to Insure Its Property.

State to Insure Its Property.
One of the most important meas
,res passed by the last legislature
S one. relating to State insurance OF
public buildings. 1t affects the m a
of every public building in
very county except school houses !
1t reads.
Section l. Be it enacted by the
general assembly of the State OF
South Carolina: That after the
expiration of the policies Of insur-
;,nce on public buildings in this
State, and Of the several counties OF
this State, school houses excepted
now of force, no insurance shall be
taken en- any such buildings long
er time than until the first day OF
january, 1901; and after that date
all insurance on public buildings
shall bc carried in the manner here
matter provided, excepting in cases
in which policies of insurance here
tefore taken out may expire after
Jan. 1st, 1901, to which cases the
provisions of this act shall not ap
plv until the expiration OF such pol
icies.
See. 3. That beginning on the
first day of January, 1901, or on the
expiration Of such policies as
MAY expire after the 1st day of Jan
uary, 1901, there shall be paid an.
nually to the commissioners of the
sinking funG, by each county of the
State, one-haif the amount paid an
nually in premiums for insurance
on it's public buildings, for the pur-
pose of creating an insurance slnS-
ing fund, which money, when recelv'
ed by said commissioners of the SINK.
ing fund shall be held and invested
by them us other funds in their
hands, for the purpose hereinafter
provided; and that Il separate account
of such funds shall be kept.
Sec. 3. That the value OF the
public buildings of each of the coun
ties, as fixed by the policies of insur'
ance on said buildings now of force
shall be taken to be the value OF
such buildings, and the amount OF
, insurance to be allowed and carried
on said buildings under said act.
z Sec. 4. That the State treasurer
Y shall pay annually to the comml;
e sioners of the sinking fund one-hal
of the amount now paid annually II
. premiums for insurance on the pub
!, lie buildings of the State
D Sec. s. That the value OF al
: public buildings hereafter built shall
e be the actual cost of such buildings
> and the insurance to be carried sha'
q be three-fourths of such value.
!. Sec. s. In case any of such publl
buildings 1e damage! by fire Q
,r lightning. three appraisers shall
:. appointed, one to be named BY tn
$. commissioners of the sinking fun(
j. one bv the county supervisor, an
er the two so appointed shall select tt
third, who shall ascertain and fix TT
al amount of the damage and lille the
II report with the commissioners OF tt
X sinking fund and with the coun,
ee treasurer of the county where tl
b. loss occurred, ard the said comm
sioners of the sinking fund sha
pav to the county treasurer tl
amount so fixed. In case of a tot
of loss by fire or lightning of any
W such public buildings, the amour
he of insurance carried under this a
W. shall be paid by the commissions
.ly of the sinking fund to the coun
at treasurer of the county where Il
IT, loss occurred.
,c-. Sec. Z. That when the insuran
he fund herein provided for reaches t
on sum O.. 100000 no further pre-
| | iums shall be paid, either by t
coun lies or the State, until a part
re. such fund has been used in the ps
ses ment of losses, and in that eve
ill the premiums of insurance shall
Nv again paid as provided in sections
he and 4 of this act, until the fu
Dc. again reaches the sum of $2OO,O'