The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1912-03-13
IMPORTANT LEGISLATION.
NEW LAWS WHICH PEOPLE
SHOULD KNOW.
De.artmcnt Heads Tell Of Measures
Which Affect Their Work--Vital
Changes I'm Insurance, judiciary
anti Agricultural Laws.

Columbia, March Hooking at
the recent legislature from the re-
.spectve viewpoint of the several de-
partments of the State government
Ii Is seen that to several of the de-
partuents o. 1912 session was most
important The head OF each depart
ment OF the government. on being
approached on the subject Of legis-
lati,n affecting his department, gave
brief statement OF what ne consid-
cred the important acts passed.
The governors office was closely
interested In much OF the work done
by the general assembly this year and
whatever affects the other depart
ments. In a measure affects the ex-
ecutive department.
A majority of the departments were
I'm sympathy with the legislature this
year and very many Of the appropria-
tions and other matters OF legislation
asked by them were allowed.
Insurance Department.
Expressing an opinion as to legis-
iaiion affecting the insurance depart
ment. enacted by the general assem-
bly, watch has just adjourned. Insur-
ance Commissioner McMaster says
that In some respects. the enactments
of this genera, assembly have been the
most far-reaching that have been
passed by any legislature since the
establishment Of the department. and
these enactments. he thinks. will be
OF the geratest benefit to the people
OF the State.
Blue Sky Law I'm State.
OF particular importance. the COM
missioner points to what has become
known az the Kansas blue sky law.
This bin" ne says. in Its entirety
has become law in sotph Carolina and
hereafter ..s insurance commission
er viii have supervision Of certain
corporations. copartnerships and asso-
Citations. proposing to sell stocks or
bonds or Offering securities for sale In
the State OF South Carolina. The only
corporations exempted from the terms
or the act are State and national
banks. trust companies dealing exclu-
sively In real estate. mortgages and
notes: building and loan associations
and corporations not organized for
proht. Every other form OF corpora
tion, cepartnership or association. po-
posing to sell stocks In the state OF
Sou'N Carolina. and all persons repre-
senting them. must file statements
with the insurance commissioner, be
examined by him and secure a II
cense. The act does not apply to cor
porations organized and doing busi-
ness only In one county.
Unlicensed Companies.
Another act Of far-reaching i'm
portanee Is that dealing with unlicen-
sed companies. and requiring citizens
OF this state who place insurance In
unauthorized companies to pay to the
State license fees equitable as COM
pared with those paid by licensed
comparies. This act is framed to be
strictly fair To the citizens Of this
state who place insurance In unli-
censed companies. by permitting loss
es for unlicensed companies to be- ad-
justed. hut at the same time dealing
eauitably with and protecting compa-
nies which are licensed.
Under this same act. the commits
sioner can make quarterly pro rata
abatemsnt OF annual admittance fees
of Insurance companies. This ne has
not been able to do heretofore.
Another section OF this act pro-
vides that In case a company has
withdrawn from the State. Il may
maintain an agent In the state FOR the
collection OF premiums. upon paying
one per cent on the net premiums
collected within the state.
Another act OF importance Is one
which Will relieve insurance cornpa-
nies Of all fear OF usury charges when
they make loans on mortgages and
require at the same time the assign
ment Of an Insurance policy as collat-
erai."
Other Insurance Acts.
Seven acts OF Importance 10 insur-
snce were passed. Resides those al
ready mentioned the insurance COM
missioner spoke OF several others: