Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1901-01-24
FIRE INSURANCE COMPANIES.
Provisions Of an Act TO be Introduced by
Representative Ewing.


Representative Ewing.
Special Correspondence OF Gazette and Journal.
Dover, Jan. 10. Representative
Ewing will introduce an act to regulate
the business of fire insurance com.
panies,
IL will classify fire insurance com
pnnies doing business In this Stats rs
domestic, State and foreign. Domestic
companies shall include only thoss In
oorporated under the laws Of Delaware,
State companies shall include those in
corporated under the laws of any State
Of the United States other than this
State. Foreign companies shall include
those whose charter shall be owned OF
o majority of whose stock shall be con :
trolled by OF whose business shall be
carried on In the interest or for the
benefit OF any fire insurance company
Incorporated under the laws of any
State, nation, government or country
other than one OF the States OF the
United States.
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 Feb
ruary lst, report under oath to the in.
surance commissioner the amount Of
gross cash premiums received and re.
turn premiums paid to policy holders
for the preceding calander year upon or
on account of insurance effected upon
property located within this State.
Every State ana domestic COMPANY
shall pay the percentage as hereinafter
provided uLon the net pemiums realized
for insurance effected upon property
located within this State, which net
premiums shall be assessed and de-
termined from such gross cash pre-
miums received and the amount of re-
turn premiums as shall have been paid
TO policy holders within this State, The
president and treasurer or other chief
fiscal officer of every foreign company
doing business in this State shall report
under oath to the insurance commits
sioner the amount of gross premium re-
ceipts for the preceding calendar year
upon insurance effected upon property
located within this State.
Every. domestic OF State company do.
ing business In this State shall an
nuaily, on or before April LIST, pay to
the insurance commissioner a sum
equal to l1a per cent Of Its net premium
receipts assessed and determined "a
aforesaid. Every foreign company doing
business in this State shall pay to the
Insurance commissioner per cent of
its gross premium receipts. 1t shall he
the duty of the insurance commiss ioner
TO charge and collect from all such com.
panies the sums required to be paid bv
this act; provided, however. that il by
the laws OF any other State, Territory
or nation q greater tax or payment than
that imposed by this act is charged
companies Incorporated under the laws
OF this State, then the insurance COM
missioner shall charge and collect a
like tax and pay ment from the com
paries of such States, Territories or any
natinn doing business IN this State
Any company negleoting or refusing to
make the payments required by this act
or making false statement, the insur-
anoe commissioner shall revoke the
license of the company to do business
10 this State. The insurance commits
sioner shall be authorized to inspect
the books! of companies suspected of
making false statements, the expenses
to be borne by the companies. All
moneys received by the insurance com.
missioner under the provisions OF this
act shall be paid by him to the State