Gainesville daily sun. (Gainesville, Fla.) 190?-1938, 1909-07-29
eHaprER sSs7--(se. 49,.

AN ACT to Amend Section s7s9 OF the General
Statutes OF the State OF Florida, Providing Tor
the Issuance OF Certificates 70 Insurance Sorn-
panies. and Providing Other Prerequisites.
Re h Enacted BY the Lsxislassfe d the State o.
Florida:
Section .. That Section also OF the General
Statutes OF the State OF Florida be. and the same
is hereby amended TO read as follows:
aTsq. (,,I0) Other Preresuisises-issue OF
Certigicafes.-No insurance Company. ASSOCIATION,
firm OF individual not Of this State nor agent nor
representative thereof shall transact any business
OF insurance IN this State unless such company.
association, firm or individual IS possessed OF Al
least two hundred and Fifty thousand dollars. IN
value invested IN United States or State bonds, or
other bankabie interest bearing stocks issued m
the United States, at their market value. Upon
complying with the preceding section and furnish
ing evidence 20 the satisfaction OF the Board OF
Insurance Commissioners that such company. as
ISOLATION. firm or individual has actually invested
the amount above stated in such securities as
hercinbeforc mentioned, the State Treasurer shall
issue q certihcate thereof, with the authority OF
such company. association. hrm or individual 20
transact the business % insurance IN this state.
Insurance. companies incorporated under the laws
OF this State. any association. hrm or individual
OF the State. however. shall be entitled 20 such
certificate OF authority by furnishing evidence 10
the satisfaction Of the said Board that such con-
pany. association, firm or individual Is possessed
Of. and has actually invested at least twenty-five
thousand dollars in United States or State bonds
OF other hAnkabe stocks or securities issued in the
United States At their market value. and by other
wise complying with the provisions hereof. The
Board OF Insurance Commissioners shall, in ad-
dtion 20 the certificate hereinbefore provided for
issue q certificate 70 any insurance company in
corporated under the laws Of this State and which
shall have previously thereto deposited With the
State Treasurer one hundred thousand dollars in
United States or State bonds, or other negotiable
stocks or securities issued IN the United States at
their market value. rs a guaranty fund for the
security Of the policy holders Of such company,
upon satisfactory evidence 70 them that such Sc
curities 20 such an amount have been deposited
with the State Treasurer. Life insurance com.
panies incorporated organized under the laws Of
another State shall be entitled TO certificate 10
transact the business OF insurance in this State by
furnishing TO the satisfaction Of the Board that Il
Is possessed OF and has actually invested two hun
dred thousand dollars IN United States bonds. or
other bankabe or Understanding stocks issued in
United States at their market value or IN mort
cages or unencumbered real estate worth double
the amount loaned thereon. inclusive Of buildings
thereon. and by otherwise complying with the
PROVISIONS thereof Insurance Companies insur-
ing hive stock or domestic animals. inoorporated
or organized under the laws Of any other State
shall e entitled TO such certificate Of authority bv
furnishing evidence 90 the satisfaction Of the
board That such company. association, firm or In.
iTdual IS possessed OF, and has total assets Of AZ
least two hundred thousand dollars and bv other-
wise complying with the provisions hereof
sec. ,. Al laws and parts OF laws In conflict
with this Act be, and the same are hereby reoralei
Approved June 4, 1899.