The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-03-16
INSURANCE LAWS
RECENTLY PASSED
Commissioner Compiling Meas
ures Enacted by North Caro-
lima Legislature.
fspccial 10 The rimcs-Dis5atch.l

Especial TO The Times- Dis6,utchl
Raleigh. y. c., March 1a.'--lnsurance
Commissioner Young is busy compiling
the insurance laws passed by tho late
Leg stature. Conspicuous among the
radical mea sures offered and defeated
were the Eoonce resolution. for inves-
LEGATION OF fire insurance companies:
the DOWN BILL to create an insurance
commission TO have control of insur-
ance matters, including the power OF
suspcndlns the state regulations when
tho commission, which was to be COM
rosed OF the council OF State deemed
1T advisa BILE: also the Conner bill, for
an appeal from the rulings OF the in
surance commits sIoncr, to the Governor
ana council OF State.
Bills OF interest enacted Into law
included
Limiting the liability to be assumed
by fidelity and surety companies to ~
per cent Of their assets.
Providing standard provisions FOR
accident ana health policies.
Making a Redistribution OF the DIFF
ferent kinds Of insurance.
Allowing life insurance companies
10 deposit notes and mortgages on reai
estate located outside the State as L
part Of the reserve securing registered
policies.
Ilnlarging the powers Of the insur-
ance commissioners, under section 1905
OF the revisal. In regard to allowing
the sale OF stocks. bonds or other OBJ
legations OF any foreign Insurance
company.
Requiring health. live stock. ma
rine. leakage and credit insurance pol
icles to be issued and couutersisnsd
by the resident agent
Amending section 477o of the revisai
forbidding the giving or selling or
offering as an indictment with lie
insurance policies any stocks. bonds or
other security or dividends or prott
or anything OF value not specific in
the policy.
Amending the law In regard to de-
posts by fire insurance companies by
giving tho insurance commissioner
discretion in taking bonds FROM surety
companies, and when he deems nee
essary requiring that surety oompa-
MES shall deposit securities
\ charter IS granted by the Score
rotary OF State to the Guilford County
Co operative Supply Company. OF
Greensboro. general merchandise: au-
thorizcd capital. 100000; the princl-
| pal incorporators being c. T. !, GATHER
~, RI. I. Cannon and John w. Whar-
ton. all Of Greensboro. The Snider-
Umstead Company. of Durham. changes
its name to the Snider- WILCOX File tcher
Company. Arthur r. Wilcox Is presi-
dent and r. L. Fletcher, secretary.
BY the terms or an act passed by
the recent Legislature, according to
the Views Of the Office Of the Commis-
sioner OF Labor and Printing. the cost
Of the states printing for the ensuing
two years VIII be reduced at least
$4,000. The law ~ tho result OF a
careful comparison OF all printed mat
Ter, and the cutting out of applications
and tho consolidation OF similar matter
into ons volume that formerly reqrirod
two or more. Tho purpose Of the law
lis to contino State publications 10 act
ual rather than apparent necessity. 1t
also provides for uniform regularity
In size, binding and general style OF
publication. an end greatly to be de-
sired, when tho former practice OF a
different style for each department
| Is considered. ll Fl