The Chipley banner. (Chipley, Washington County, Fla.) 1893-1943, 1903-08-20

directly or indirectly, his or their commissions
or the profits Of his or their business with any
person or persons not resident OF tni ss
cancel any such commission Of authority to
act as lis agent in this State as may be held
BY any person or persons upon information
that such person or agent has divided or OF
fcred TO divide his or their commissions. with
any person or persons not resident Of this
State.
Sec. s. That the renewal OF license 70 trans.
act the business OF FIRE insurance in this state
for companies or associations shall only be
issued after the secretary or manager OF sucn
company or association so desiring to renew
license to do business In this State shall hrst
have made oath that no policy or contract OF
insurance covering property located in the
State of Florida has been issued, written or
placed during the twelve months preceding
except by resident local agents of such com
pany or association in Florida duly commits
stoned, and that said local agent has received
the full, entire and usual commission due and
allowed its agents, and that to the best OF his
knowledge and belief none OF its agents or
representatives in this State has divided or
offered to divide his commission or other prof
its with any non-resdents of this State, and
that such company or association has not
reinsured or entered into any contract to IN
demnify any fire insurance company or asso-
citation not authorized to transact bushes IN
this State, and until and after such COM
pany or association shall have complied with
All other laws of this State in respect to the
admission Of companies Of other States or for
eign countries.
Sec. s. That whenever the Board of Insur-
ance Commissioners shall have received in
formation that any fire insurance company or
association, has violated any OF the provis-
ions Of this act, they are authorized at the
expense Of such company or association, to ex'
anime by themselves or their accredited repre-
sentatives, at the principal Offices of such
company or association located in the United
State Of America, or in any foreign country,
and also at such other offices or agencies ot
such company or association as they may deem
proper, all books, records, and papers OF such
company or association and may examine UNI
der oath the officers, managers and agents OF
such company or association as to such viola
tons The refusal Of any such company or
association to submit to such examination or
to exhibit its books and records for inspection,
shall constitute a forfeiture Of its license as
hereinafter provided for.
Sec. z. That If any FIRE insurance company
Or association shall violate or fail to observe
and comply with any or all IF the provisions
IF this act applicable therto, il Immediately
snail Ltct me the duty OF the beard Of Insur.
ince commissioners to investigate same, and
Il the board of insurance commissioners are
themselves satisfied as to the guilt OF the i'm
iurance company association, 1t shall be
he duty of the board of insurance commits
'ioners, in the manner now provided by law,
% revoke the license of such company OF as
Jciation to transact business in this State,
ind such revocation shall continue for at least
me year from the date thereof, nor shall any
Insurance company or association whose au-
horty to transact business in this State shall
lave been so revoked be again authorized or
permitted to transact business herein until it
hall have led in the Office of the insurance
commission a certificate, signed by its presi.
lent or other chief officer, to the fact that the
erms and obligations OF the provisions of
his act are accepted by it as a part of the
ondition Of its right and authority to trans
ct business in this State.
Sec. s. That ali laws or parts of laws in
onfiict with this act are hereby repealed.
Sec. 3. That this act shall take effect imme-
lately upon its passage and approval by the
Governor.
Approved May 80, 1903.