The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1913-03-13
Legal.

risk an amount greater than ten per cent
of the net worth of such subscriber.
Sec 6. There shall at all times be
maintained as reserve sum n IN 9S SaSn n or
cent of the aggregate net annual deposits
collected and credited to the accounts OF
the subscribers on policies having one
year or less to run and pro rata on those
for longer periods. For the purpose OF
said reserve, net annual deposits shall be
Of subscribers after deducting therefrom
the amounts specifically provided In the
supscribers' agreements, for expenses 1s
twenty-five thousand dollars, and If at
any time fifty per cent of the aggregate
deposits so collected and credited shaIl
not equal that amount, then the SUD- 10,
scribers, or their attorney for them, shall
make up any deficiency.
Sec. Z. Such attorney shall make an
annual report to the superintendent of
insurance for each calendar year, show
ing that the financial condition OF affairs
issued is in accordance with the standard
of solvency provided for herein, and shall
furnish such additional Information ana
total premiums or deposits collected, the
total losses paid. the total amounts re-
turned to subscribers, and the , amoull.s
that such attorney shall not be required
to furnish the names and addresses OF
any subscribers. The business affairs ana
assets of said reciprocal or inter-insur-
ance exchanges, as shown at the office OF
the attorney thereon, snail De sup]ect 70
examination by the superintendent or IN
Sec s. Any corporation now or here
after organized under the laws of TINS
state, shall, in addition to the rights,
powers and franchises specified In It's
articles of incorporation, have full power
and Of t f KIND and Character herein
mentioned. The right to exchange such
contracts is hereby declared to be in
cidental to the purposes for which such
corporations are organized and as much
granted as the. rights and powers ex-
press1y conferred.
| for the purpose of applying for certificate
| Of authority as herein provided, excnanSe
| any contracts Of indemnity OF the Nnd
directly or indirectly solicit or negotiate
any application for same, without flrSt
eS SnE g s M1sn t ait1 OF ieemeanor
and upon conviction thereof. shall be sub
| 1ected to fine of not less than one nun
dred dollars nor more than one thousand
| dollars.
Sec 10 Each attorney by whom or
| through whom are issued any policies OF
or contracts for indemnity Of the char
| from the superintendent OF insurance an
| nua1ly certificate of authority, stating
| that all of the requirements of this act have
been complied with, and upon such COM
| pliance and the payment Of the fees re-
| quired by this act, the superintendent OF
insurance shall issue such certificate OF
authority. The superintendent of insur-
| ance may revoke or suspend any certffi-
| cate of authority issued hereunder in case
| of breach of any of the conditions i'm
posed by this act after reasonable notice
! has been given said attorney, In writing,
| So that he may appear and show cause
why such action should not be taken.
ANY attorney who may have procured
certificate of authority hereunder may re-
new same annually thereafter; provided
| however that any certificate of authority
shall continue in full force and effect
until the new certificate of authority be
/ fffa1 IL Trofr
Sec. II. Such attorney shall pay as q
| fee for the issuance Of the certificate OF
authority herein provided for, the sum OF
| twenty dollars, whicb shall be in lieu Of
all license fees and taxes OF Whatever
| character in this state.
| Sec. IL. This act shall take effect ana
be in force from and after its puohcatlon
hereby certify that the above Bill
| originated in the Senate, and passed that
| body March g. 1913.
SHEFFIELD INGALLS,.
| President of the Senate.
| BURT E. BROWN,
Secretary of the Senate.
| Passed the House March s. 1913
| Speaker of the House.
GEO E. ROGERS,
Chief Clerk of the House.
Approved Mart" GEO. Fl. HODGES,
State of Kansas.
| Office of the Secretary of State.
T. CHAS. H. SESSIONS. Secretary OF
Certify that the above and foregoing is q
| correct copy of the original enrolled Dill
now on file in my office; 49,,
hereunto subscribed my name
rSeal7 and affixed my official seal,
this 18th day of March. 1919.
Secretary of State
First published in The Topeka State