Evening journal., 1901-01-19
TO REGULATE
FIRB INSURANCE
All Companies to be Divided
Into Two Glasses
Provisions OF a Bill 10 be introduced
by Representative Ewing
on Monday

Stah Correspondent Evening Journal.
Dover Jan. l9.-Fhe insurance com
panies and agents generally will be in
terested IN a bill given notice of in the
House by Representative Ewing. II is
transacting business IN this State. He
will Introduce il on Monday. It's pro
visions are as follows
chat all ERE insurance companies doing
business in this state shall. for the pur-
poses Of this act. be classified and divided
into domestic. state and foreign COM
panies. Domestic companies shall in
clude only companies organized under the
las of this state. State companies shall
include every fire insurance company in
Icorporated under the laws of any state
of the United States of America. other
than this state. Foreign companies shall
include every fire insurance company in
corporatcd under the laws Of any state.
national government or country other
than one Of the states of the United
States; and every state or domestic COM
pany whose charter shall be owned, or a
majority of whose stock shall be con-
| trolled by, og whose business shall be car
ried on in the interest or for the benefit
Of any fire insurance company incorporate
ed under the laws of any state. nation,
government or country other than one
Of the states of the United States of
| America.
The president and treasurer. or other
chief fiscal officer. Of every domestic and
state company doing business in this
state shall, annually, on or before the
first day OF February. report under oath
to the insurance commissioner Of this
state the amount of gross cash premiums
received and return premiums paid to
policy holders, for the preceding calen-
dar year upon or on account of insurance
effected upon property located within
this state. Net premiums shall be as
certained and determined by deductine
from the such gross cash premiums
received the amount OF return premiums
as shall hG1e been paid TO policy holders
within this state.
nnally on or before the first day Of April
pay to the insurance commissioner a sun
equal 10 one and onc-half per cent. upon
its net premium receipts. Every STATE
company shall pay annually on or before
the first day of April TO the insuranc,
Commissioner q sum equal to one and one
half per cent. upon its net premium re
ceipts. Every foreign insurance com
pany shall annually on or before tn,
first day of April pay to the insuranc,
commissioner a sum of money equal t.
FIVE per cent. upon its gross premium
receipts and without any deduction what
ever.
1t shall be the duty of the insuranc,
commissioner to charge and collect from
all such companies the sums Of monel
required TO be paid by any provision o.
. IL ]. IL. IL.
laws Of any other state, territory or na
tion. greater tax or payment than tina
imposed by this act is charged companies
organized under the laws of this state
then the insurance commissioner shal
charge and collect a like tax and pay
ment from companies Of such state. ter
ritory or any nation doing business il
this state. If any company shall neglec
or refuse 10 make the payments require,
by this act after demand therefor ha
been made. or if it shall make any falls
statement or report under the provision
Of this act. the insurance commissione
shall revoke the license Of such compan
TO do business in the state. If at an
time the insurance commissioner has rea
son to suspect the correstness Of any re
port required by this act. he may. at tn
. / - lNNAA0N VI NAA' NAAAHF tAANhH AlA fANllAllN
: tion of the books Of the company maxim
such reports. or OF its agents. for tn
purpose of verifying the same; and
such examination shall determine the r,
port 10 have been incorrect. the expens
of examination shall be horne by tn
company examined in addition to othe
derived by the insurance commissions
d under this act shall be paid by hin
r TO the state treasurer. The payment
e required to be made by the state an
v foreign companies by this act and "A
+ such payments herein required are il
/. tended to be nd shall be a conditio
r of the right privilege or franchise q
a and such company TO transact bushes
q within this state.