The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1906-04-13
INSURANCE
INVESTIGATION
Senate Adopts a Resolution
Providing for a Commit
tee to Probe All New Jer-
sey Companies
The GRAND INQUlsITORS
PRESIDENT BRADLEY NAMES
SENATOR'S HILLERY, WAKE
LEE AND MINTURN WITH FULL
POWER TO EXAMINE
fspacial to .erhe Jersey city News.,,l


ate yesterday adopted a resolution pro-
viding. for the appointment of a commit
tee to make thorough investigation of
all insurance companies and insurance
conditions in New Jersey, with view of
recommending to the next Legislature
such insurance laws as may be deemed
wise.
President Bradley designated the Jul
dietary Committee composed of Senators
Hillery, chairman; Wakelee and Min
turn, to serve as a committee to make
such investigation. The committee has
full power to examine all companies
doing business in New Jersey as well as
free access to the files of the State Bank
ing and Insurance Department. 1t is
also empowered to investigate the entire
insurance question, consider .the reports
of Investigations in other States, together
with the laws and the pending legislation
in those States.
In presenting the resolution, Mr.. Hill
lery briefly explained it and it was unani-
mously adopted. The resolution in full,
follows:
Whereas, An exhaustive investigation
of the business Of life insurance has re
Gently been made by committee of the
Legislature of the State of New York,
said investigation extending as we'll to
companies organized without the State
of New York but doing business in said
State as to those organized under the
laws thereof, and including companies or
ganized under the laws of the State of
New Jersey; and
Whereas, Said New York Legislative
Committee has made a full report of its
investigation and recommended numer-
Gus changes in the insurance laws of
the State of New York, based upon the
information obtained by said investiga-
ton. and has reported a number of bills
to the Legislature of the said State,
which are now pending therein; and
Whereas, The Legislature of various
other states have under consideration the
revision of their insurance laws, and
some of them have appointed commits
sions to sit during the recess of the Legis
lature for the purpose of examining the
bills pending in the Legislature of the
state of New York in pursuance of the
may be passed by the said Legislature,
as well as the bills proposed in other
states, to the end that uniformity of leg
islation in the various states on the sub
ject of insurance may, so far as possible,
be accomplished; therefore be it
Resolved. That committee consisting
of three members of the Senate be APP
pointed by the President of the Senate
to examine the report of the said inves-
tigation made by the committee of the
Legislature of New York, as well as the
bills presented by said committee and
any laws that may be enacted by the said
Legislature on the subject Of life insur-
ance. and also the bills presented to and
laws enacted by the Legislatures of 9th
er states on the subject of life insurance,
and to report at the next session Of the
Legislature such recommendations with
regard to changes in the insurance laws
| of this state as they may deem proper
together with bills for the accomplish
ment thereof; and be it
Further Resolved, That the said COM
mittee have authority to examine the
records and files of the Department of
Banking and Insurance of this state, re-
| lating as we'll to banks and trust COM
panies as to insurance companies, and al
so to cali upon life insurance companies,
banks and trust companies existing un;
der the laws of this state or doing busi-
ness in this state for such further infor-
nation as they may deem necessary for
| the purpose aforesaid; and be it
Further Resolved That said commit
tee be authorized to procure a copy Of