The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-04-28
lNSuRAA Avs
THE LAST f6NED YESTER-
DAY BY NE GOVERNOR.

--s
Amends the Insurance Law OF the State
and the Bill Amending the Penal Code
Relative to the Crime OF Perjury.
ALBANY, April 27.-Gov. Higgins this
afternoon signed the so-called big" insur-
anoe bill, which generally amends b In
Gurano law. This is the last OF theb bills
prepared by the special investigating com
mittee Of which Senator Armstrong OF
Rochester was chairman. The Governor
gave out a memorandum on the bill In
which he says; -""
This bill is the last Of the bills introduced
by the, Armstrong committee as the result
Of It's investigation. for the purpose OF remedy
ing existing evils and OF establishing moro
securely the business of life insurance In
this State. That In the judgment Of the
committee 90 much remedial legislation and
such comprehensive and far reaching amend
ments are necessary. indicates with sufficient
olearness the inadeouacy OF the old insurance
law. .
It is impossible within the limits Of this
memorandum to outline fully what is' accom-
plished by this comprehensive measure.
1t deals with the organization Of Life tngur-
ance companies; the rtehte Of policyholders
In the election Of directors; the. retirement
Of stock Investments. including syndicate
participations; limitation Of new business;
limitation Of expenses: valuation Of policies;
rebates, surrender values; ascertafnnaent
and distribution Of surplus; right Of Lohoy-
holders to resort to the courts; forms Of policy;
State supervision and penalties.
During the extraordinary session Of last
July l recommended to the confederation OF
the Legislature the question Of the appoint
ment Of a Joint committee TO investigate
the operations Of life insurance companies
doing business in the State, for the purpose
OF preparing and reporting such proposed
legislation as may be adequate and proper
to restore public confidence and to compel
life insurance companies TO conduct a safe,
honest and open business for the benefit OF
their policyholders."
No other legislative investigating COM
mittee In the history Of the State has been
invested with greater responsibilities. has
performed its duties with more intelligence
and energy. has commanded In Q greater
degree the public. confidence. or has succeeded
in placing upon the statute books more
valuable remedial legislation. No blot OF
failure or weakness mars it's completed work.
The legislative session OF. 1905 will go down
in history as the year Of great insurance
reform.
Senator William J. Tully, one Of the most
| earnest members Of the Armstrong COM.
mittee, had this to say:
The committee Is. o. course. very much
| gratifed to have the results of its labors so
cordially and warmly endorsed by the Gov
| ernor. who has now completed the work by
adding his signature TO each Of the bills sub
mitted by the committee. 1t is but fair TO
say, however. that the principal credit for
the investigation belongs TO Gov. Higgins
himself, who not onl brought about the
inquiry but gave the committee his earnest
and unceasing support throughout the many
months Of its work. We believe that the
measures signed by the Governor have given
New York the best insurance code in the
| country, and IL is our earnest hope that much
of the legislation adopted.by US will be written
into the statutes OF other States, so that sub
stantial uniformity Of insurance legislation
| throughout the country may be had. No
reference TO the work OF the committe Q would
be completed without comment upon the
| splendid service rendered by Its chairman,
Senator Armstrong. / think nobody appre-
| ciates quite as well as | the tremendous
amount Of time and energy that Mr.. Arm
strong has devoted to the work, and he Is
entitled to the highest praise for his part In
the investigation.
Gov. Higgins al 50 signed the insurance
investigating committees bill amending the
Penal Code relative to the crime Of perjury.
In a memorandum the Governor says OF
the bill:
The bill establishes q rule Of evidence
whereby In perjury GASES the falsity Of the
sworn statement set forth in the indictment
ts presumptively established by proof OF
contradictory statements by the defendant
under oath. The presumption is a mere rule
of inference which takes the place OF evi ence
when no contradictory evidence Is offered
a mere shifting to the defendant Of the bur-
den OF producing evidence on one feature
of the case.
OF two contradictory material statements
one must be false. This bill helps out the in
dictment and weakens the silent defence
that the false statement may be the one made
| elsewhere and not the one charged in the
Indictment, but the State must still establish
beyond a reasonable doubt that the defend
ant acted with criminal intent and wilfully
and knowingly testified falsely In a material
matter, or stated under oath material mat.
ter to be true which he knew TO be false or
whichlhe did not know TO be true. A convic-
ton would not be possible merely upon proof
that the defendant had made prior contra
dictory statements under oath.
This measure should be an incentive TO
care ON the part Of officers of corporations'in
making sworn reports. but 1t In no sense tends
to make criminal acts out Of innocent mis-
takes. &C..
The palmer the lesson Of the State that
the false oath lie a serious offence and not
q venial fault, condoned by custom. the higher
the standards Of business morality should
| become.