The Hawaiian gazette., 1903-08-25
WILL GIVE
MORE TIME
Talks to
Insurance
Men.

At a meeting held yesterday between
Insurance Commissioner Kepoikai and
the insurance men of the city II was
agreed that the foreign companies
in which to comply with the new law.
Aside from this. the chief point of dis
cussion related to the payment of the
two per cent tax, which was claimed
to be double taxation for six months,
as the income tax return included these
last six months of the present year.
Seventeen insurance men were pres
ent at the meeting in the rooms of the
Board OF Underwriters in the Mcintyre
building. Mr.. Kepoikai was asked to
preside and Deputy Insurance Com
missioner Smithies was also present.
Treasurer Kepoikai opened the meet
ing with a statement that 1t had been
called in order that both he and the in
surance agents should get better I'M
derstanding of the law. He said the
companies must comply with Sections 3
and 4, which he read as follows:
| Section 3. The Commissioner must
cause every company or corporation
| before engaging in the business of in
surance in this Territory to file In his
office as follows:
First--If Incorporated under the laws
of this Territory, a copy of its articles
of incorporation with any amendments
made thereto:
, Second-If incorporated under the
laws of any other State or country. q
copy of its articles of incorporation or
charter. certified by the officer having
the custody of such articles that 1t Is
organized under the laws of such State
or country, that 1t is authorized to do
business therein, and stating the
amount of the capital stock, or net
surplus.
Section 4. The Commissioner shall
issue to any insurance company or cor
poration a certificate of authority to
transact business in this Territory I'M
der the following conditions
First-If a company or corporation
organized VI der the laws of this Ter
TltOTy, Wnen he Is SHllSUeu tndt tne
provisions of this Act in relation to
such company or corporation have been
complied with:
Second-If a company or corporation
organized outside of the Territory of
Hawaii, when he is satisfied that the
company or corporation has a paid up
and unimpaired capital or net surplus
of not less than One Hundred Thou
sand Dollars.
In response to n question, the COM
missioner stated that in the matter of
certified copies of the corporation ex-
hibit, where there was no insurance
commissioner as in Germany. the
American Consul could approve the
papers.
In answer to a question from Emmet
May, Mr.. Kepoikai said that n full
power OF attorney was not necessary.
but that it should confer power to be
sued.
Mr.. Berg of Bishop & Co. aked IL
there could be an extension OF time in
case the papers had not been filed
within the time limit--October LIST.
He said also that the Commissioner
had been very kind and the relations
between him and the underwriters were
most pleasant.
u. X. Myers suggested that the Com
missioner ought to prepare blanks
showing the form of power OF a.tor-
ney. and the reply was that they would
be ready Wednesday.
II am willing to be lenient as to
time" said Mr.. Kepoikai, but / don't
want you to take advantage of my
leniency and extend the time unreal
sonably. / am willing to grant
month but the power of attorney and
certificate of capital stock must be
filed"
Mr.. Graham asked also in regard to
the payment of the two per cent tax,
saying that the return under the in
come law included the last six months
of the year, while the insurance law
also provided for tax during the same
period. Mr.. Lansing suggested that
"all laws inconsistent with the insur-
ance law had been repealed"
Mr.. Kepoikai said that he would
refer the question to the Attorney
General and give his opinion to the
insurance men. Deputy Commissioner
Smithies also explained at the meeting,
what he had done with reference to
the preparation of blank forms and
he stated that they would be ready
for submission on Wednesday.
-~S<~
Mifkins-"That scoundrel Jobson
called me an IDIOT" Bifkins-"He did
~ A.