The weekly true Democrat. (Tallahassee, Fla.) 1905-1912, 1909-07-23

AN ACT 70 Require Fire Insurance Com
panles 20 Deposit a Certain Amount In
Cash or Securities with the Treasurer
OF the State OF Florida.
Be Il Enacted BY the Legislature OF the
State Of Florida:
Section ]. Unless otherwise provided by
shall deposit with the State Treasurer o.
this State bonds Of the United states
bonds Of any Of the states Of the United
~ bo,S of ,hs Sitiss ~ cs,11tiSS ~ tbis
State. or cash, 70 the amount Of ten thou
sand dollars, or surety bond IN the
amount % twenty thousand dollars OF
IN che state Of Florida, said bond and
company 10 be approved Of by the State
Treasurer the surety company offering
such bond agreeing, IN case Of q failure
to deposit Immediately with the. State
Treasurer twenty thousand dollars IN cash
or marketable securities, 70 Be held By
a ns esa sSTt such eo@Oa12 S tbs
State. az provided IN this Act, and the
State Treasurer shall give the company
making such deposit q receipt for same;
so deposited shall not be less than ten
thousand dollars. II any bonds 80 de-
posted be registered bonds. the company
shall AZ the time give 70 the STATE Treas as
10 transfer said bonds, or any part there
o.. for. the purpose Of paying any Of the
liabilities provided for In this Act. The
company TO make good any dsprsolation
or reduction In value Of said securities;
and he shall in the month Of September In
every year, examine az securities 90 de-
poaited with him for the purpose Of as
whether any OF them have de-
preciated or been reduced IN value. The
State shall be responsible for the safe
lies depoaitsd With he state EFT treasurer
under this Act. Bonds or other securities
deposited with the state Treasurer b. any
under this Act shall not. on ac-
be subject 70 taxation, but shall be held
exclualvely and solely for the protection
% the policy holders.
Sc: Sompahn ss a,SS2oIisRg Pona CO. &c
the interest on said bonds az the same
accrues; and should coupon bonds Be de-
posted under this Act. q shall be the DUTY
he ~, eor,papv. to s1TrSndeF the - ooupoSs
~ the same shall become due from any
and en- such coupon bonds deposited By
Sec. 8. n the said company tad % pay
my OF ia liabilities on said policies, ac- |
,or0in4 to the terms o. the pcilcy, after
The said liabilities shall have been adj |
p Ssssq Ss' 81 me sAI pJ ss' as ods o g
prescribed thereby, or after the same
ihan have been aacertalnod In any mode /
igreed upon by the partiea or By the judg- |
the state T'reasurSr ahah /
Ipon the application q the party % whom /
he debt OF money O due. and upon natia- I
sS'soSy pTcos ,hat ne notice herein re-
IiVen, proceed 10 sell "a public auction /
iuch an amount % the said bonda ~ win 4
Day the sum due ahd expoasas q ale. /
aid sums and expenses; Provided. That /
he party making said application shall 4
[ive u the company, o. 70 the agent 81 4
he C0mpany IN this 6tnta, twenty oayu I
iotice % be intention % apNly FOR a1le 4
Z uaiQ bonds 90 the state Tfcaearof; and \
Provided further, That such company
nan p r%9glrsd Q to,,neith % ms =. sood
EFT caueed ~ anen aaie.
Iha 1iata Treasures nhan a6Vorliea
~ go n 11.l bfulg ~ thirty oaga
D Iho 0ilN % 18Ie -. &NI
.| 0fl .|f H