Waterbury evening Democrat., 1906-02-22
It Will be Presented Immediately After Other Members of the Committee Sight
 It To-day.

j OI NeW 1OTk, dppOlulcu tO lHNeou6al0
 the affairs of the life insurance com panies, covers printed pamphlet of 319 pages, and was presented to the
 legislature this afternoon. The matters demanding the consider
 alton of the legislature for the pur-
 pose of remedying existing evils and of establishing more securely the busi- ness of life insurance in this state, are
 grouped under the following heads: |. Organization of life insurance
 corporations.
 2. Control, or the rights of policy | holders in the election of directors. 3. Retirement of stock.
 "A. Investment including syndicate
 participatiOns.
 5. Limitation of new business. 6. Politician contributions. [. Lobbying.
 s. Limitation of expenses. 9. Valuation of policies. 10. Rebates.
 II. Surrender values.
 F. Ascertainment and distribution
 of surplus.
 13., Remedies of policy holders, CT right to resort to the courts. 14. Forms of policies.
 15. Publicity and state supervision. 16. Penalties.
 The committee recommends that arti-
 cle two of the insurance law be so
 amended as to permit the formation | thereuniier of mutual corporations
 without capital stock to transact the business of life insurance and for such
 other purposes as are authorized to De connected herewith in the case of stock corporations; provided at least 800 persons have subscribed to become members therein in the aggregate amount of at least .$1 100000 to be in sured upon their lives, and shall have each paid in one full annual premium lin cash upon the insurance subscribed for, and provided. further, that it shall make the same deposits with the superintendent of insurance that are required of stock corporations formed for similar purposes.
 Section POO, permitting the incorpor-
 ation of companies upon the co-opera- tive or assessment plan, should be
 amended so as not to permit such con- panies, to be incorporated in the flu ttiTt anu loIclbh COhi pohASs oA thtS o0A '
 not already transactlng business In this state should not be permitted to enter the state.
 Contributions by insurance corpora
 tions for political purposes should be
 strictly forbidden. Neither executive
 officers nor directors should be allowed
 to use the moneys paid for purposes of insurance in support of political candidates or platforms.
 The committee recommend the pass age of an unequiyocal and drastic measure to remedy this evil. Not only should it be expressly prohibited and | treated as a waste of corporate mon- eys, but any officer, director or agent
 making. authorizing or consenting to
 any such contribution should be guilty
 of a misdemeanor, and the prohibition
 should De extended to all corporate contributions of this character. The pernicious activities of corpor-
 ate agents in matters of legislation de-
 mand that the present freedom of lob bying should be restricted. They have
 brought suspicion upon important pro ceedings of the legislature. and have exposed it's members to consequent as
 sault. The legislature owes it to itself.
 so far as possible. to stop the practice
 of the lavish expenditure of money os- tensibly for services in connection with the support of or opposition to bills, and generally believed to be used for
 corrupt purposes. The legislature
 should free itself from the stigma which now attaches to the progress of
 measures affecting important interests.
 The laws against bribery and corrup- tion. offenses which are difficult of
 proof. are sufficiently stringent. hut an
 effort should be made to strike at the
 root of the evil by requiring under
 penalties full publicity with regard to moneys expended in connection with
 matters before the legislature. Cor
 porafions should be required to keep
 accounts and vouchers in which a
 sucb naymenfs should he fully detailed
 ami receipted for and an adequate
 statement regarding them should form
 a part of such reports as may be re
 quirel
 The committee therefore recon mends that the legislative law be 90
 amended that every person retained
 or employed for compensation as coun- sel or agent to promote or oppose the massage of bills or resolutions by either house or executive approval of
 such measures shall before entering
 rnon the service file in the office of the
 secretary of state a writing stating the name or names of his employer. tO-
 rether with a brief description of the | legislative matter with reference tO
 which the service is to be rendered.
 The secretary of Bate hss been c-
 qufrpd to provide q docket to be knovK
 ss the docket Of legislative sppeT-
 sncez- with sppropriafe blanks and h.
 iices in uhich the names of counsel
 and azent may be pruperiy entered Fees continze1t upon legislative scti0r
 shouh te prchibitei It sbouh asl
 be made the duty ef eve<y eurporSto1 | and sesocistte1 doinx business in ths | state within tEo rss1fhs after tl1e d Sournnerf o< the legislature ro fls Ffrk the secretary e state sn Itemizt,
 s-sfeE<sf tuly verif>d slowing Ia de
 <~fr an nwrun unM = turwrmU IT