The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-08-23
UNIFORM LAWS
FOR THE STATES
Meeting at st. Paul to Discuss
a Code to Be Applied to In
SuranCe Companies.
REPORTS OF COMMITTEES
SOME DRASTIC MEASURES OF
REFORM.

St Paul Aug Reinsurance com
lnlssioners and attorney generals of q
number OF states met today at the new
state capitol 10 submit and discuss a
uniform code of insurance laws which
the several state legislatures of the
united states will be asked TO adopt
at their next session
X L. Folk of Tennessee, chairman
or the committee on salaries and youch-
ers. submitted the draft of the law
fOrbidding campaign contributions and
legislative participation and providing
FOR the utmost publicity when vouchers
are involved
Two sections of the proposed uni
form insurance code which is under
consideration of committee appointed
at d conference of governors. attorneys
general ard insurance commissioners
III chicago March 20 last were adopted
at the first session of the COMMITTEES TO.
day in the senate chamber of the state
capitol.
Reau e. Folk of Knoxville, Tenn.
chairman of the committee on prohib-
ition of political contributions. read a
report covering this subject which was
adopted providing that no funds shall
be contributed by the agents of in
surance companies to political parties
The report in part is as follows
No insurance company doing bus
mess I'm this state shall directly or in
directly pay or use or offer any money
or property in aid of any political par
W comittee or organization or for the
reimbursement or Naturalization Of
any person for property so used ANY
officer, director stakeholder. attorney
on agents Of any corporation which
violates this section shall be guilty of
a misdemeanoF and punishable by i'm
prlSonment and a fine of not more than
81, 600
License May Be Revoked.
The license of any company or as
soclation found guilty of violating this
section may be suspended or revoked
in the discretion of the insurance COM
missioner"
The prohibition. which is drawn UP
along the lines of the New York law.
also provides that no person shall be
excused from testifying or producing
any books, papers or other documents
before any court or magistrate upon
the ground that the testimony required
of him may tend to convict him Of a
crime or to subject him TO a penalty
or forfeiture.
Inc commissioners took under consid-
Grafton the report of the committee on
salaries of officers" The report rec
commended the incorporation of a pro-
vision providing that any salary, COM
pensation or emOlument to any employee
of the company amounting to more
than s. 600 shall te fixed by the board
of directors and not for a longer per-
iOd than one year.
The provision also provides that no
pension shall be granted to any officer
or director and provides that no agree =
ment shall be made whereby an en-
ploye shall receive a salary for a lon
ger period than one year The legal
act prohibits renewal contracts and if
it does an amendment will be incorpor-
ated to allow the making of renewal
contracts for commissions. for to pre-
vent these the committee deems it very
unjust.
A second section was passed which
provides that every disbursement of
500 of more be made on voucher set
ting forth expressly an itemized &C
count.