The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-04-02

AN ACT to Regulate Joint-stock Life
Insurance Companies Nor or Hereafter
ORGANIZED undef me Laws OF TINS Staie.
State of Kansas:
Section l. Any joint-stock life insur-
lied under the laws OF this state shall
deliver to the superintendent of Insur-
Tr ea in addtion to the AMOUNT Of
capital required to be deposited, cash or
securities of the kind or character of
invest its funds, in an amount equal to
the net cash value of all policies and
valued upon the American table of NOR
talfty, and four and one-haf t4ls) per
cent interest, or actuaries combined
table of mortality and four () per cent
interest. - -
Sec 3 After making the deposit men
toned in Section l, the company may, at
the request of the insured, issue policies
of insurance or endowment, annuity
bonds. having upon their face a certifii-
cate in the following words: This pol
icy or. annuity bond, as the case may be.
is registered and secured by. pledge of
estate deposited with the State Treasurer
of the state of Kansas in amount
ICY: which certificate. shall be signed by
the Superintendent or his authorized dep
uty and sealed with the seal of his office.
These policies and bonds shall be known
as registered policies and annuity bonds
and the Superintendent of Insurance shall
prepare and keep such register thereof
as will enable him to compute their value
at any time, and, upon written proof at
tested by the President or Vice-president
have issued such policies or annuity
bonds, that any of them have been com
shall commute or cancel them on such
register. On the first days of January
and July of each year, or within sixty
cause the registered policies and annuity
bonds of each company to be carefully
flXad less
such liens as the company may have
against them, shall be registered.
| right at any time to change the secur-
| tiles on deposit by substituting like
amount Of the character required in the
| first instance and to withdraw any ex-
cess of securities and so long such
company shall remain solvent and keep
up it's deposits it may collect the inter-
est on the securities deposited as the same
accrue.
Sec. 4. All such Joint-stock life insur-
| 70 Kansas shall pay to the Superintendent
of Insurance the following fees: For the
| connected with the application of such
company to transact business within the
state. the sum of one Hundred Dollars;
newal Of the certificate of authority. an
| nuaHy, One Hundred Dollars; for each
agents license, fifty cents.
Sec. 5. This act shall take effect and be
in force from and after its publication in
the official state paper.
| / hereby certify that the above bill orig
| February II, 1909.
W. J. FITZGERALD, II
| President of the Senate.
| lf- ~. e. WYANT,
| 81 Secretary of the Senate.
Passed the House March 5, 1909.
j. N. DOLLEY,
Speaker of the House.
| w. T. BECK.
Chief Clerk of the House
| Approved March 10, 1909.
w. r. STUBS,
-s. Governor.
STATE OF KANSAS
4 Office of the Secretary of State.
T. c. E. DENTON, Secretary of State OF
the State of Kansas, do hereby certify
i that the above and foregoing is a correct
copy of the original enrolled bill now on
| IN TESTIMONY WHEREOF, 1 have
| hereunto subscribed my name and affix-
ed my official seal, this 10th day OF
i March 1909.
(Sea) c.. z. DENTON.
| Secretary of State