The Montgomery advertiser., 1908-06-19
the dlr.ctorat. of the insurance com


 the directorate of the insurance com pany.
 Notice of Examination. The Department of Insurance imrne. dfately notified the new oftcials that the examination would be made during the month of June. The letters of the department were ignored by the Great Western Insurance Company. Finally however. the department secured re- ply in which the President of the tn' surance company suggested that the Missouri Department was then making an examination and that the company
 was having an independent examination
 made. and refusing to consent to ar
 examiation by this department The Department of Insurance imme'
 diateiy took the matter up with the Insurance Commissioner, vandiver oi
 Missouri, and received advice that thf Great Western Insurance Company. un. der the Missouri examination. showed an impairment of something like s1oo.-
 900, and. acting upon this information, the department revoked the license oi the company to do business in Ala bama.
 During last year the company placed
 something over $soo.o00 within this State, the business having been secured within three mOntnS.
 Commissioner Julian made the fol- lowing statement yesterday: "The authority of the Great Western Life Insurance Company of Kansas City, Mo, together with the authority of all it's agents in this State. have been suspended on this date under and by authority of Section 4551 of the Code of
 Alabama, 1907. The suspension period is ten days. at the end of which time | - l. .a1A company should in the meantime re- store itself to a condition that would 1 justify it's continuance in business in Alabama.
 This action on the part of the de- pertinent grew out of information that has been received officially that the ca pital of the said company is impaired
 over s100.0oo, and it being considered. 1 in view of this, that 1t is hazardous
 for the company to do further business | in this State until the impairment Is
 made good. The company has also de- clined to pay a just amount for ex- penses incurred in connection with an attempted examination by this depart ment, which would in itself be sufficient cause for revocation of license. "The law requires that ten days no- tice be given a company before licenses
 are revoked. but the departmnt may suspend company Lor Eedsouo Tc- | garded as sufficient for such action. | giving ten days notice. at the end of | which time license will be revoked un- l less during said period conditions are
 made satisfactory. All of the agents of the company have also been notified today of this action. Suit will be en- tered immediately for the collection of the amount that the company Is due for expenses incurred by the Alabama Department in attempting to make an examination of said company through
 Mfr. S. H. Wolfe of New York. "The following telegram was sent
 the company today:
 Under and by authority of Section 5451 of the Code of Alabama of 1907 1 your license and the licenses of all your agents in this State are hereby suspended, This action is based upon information that has been received by
 this department that your capital stock
 is impaired. and in view of this condi- tion, you are authorized to do no busi-
 ness in this State during the period of
 suspension, which is ten days from | this date, at which time all licenses will be revoked unless within the pe- riod named your condition may become
 such as to justify restoration within
 the said period"