The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1917-03-07
LAWS BEARING
ON INSURANCE
NOT IMPORTANT
Eighteen Bills Relating to Bust
ness Make but Few Minor
Changes
COMPENSATION ACT WAS
FOREDOOMED TO FAILURE
Bill Loosely Drawn, Made No
Adequate Administration
Provision

Provision
Few measures OF vital importance
affecting insurance were passed al Inc
last session. A workmenS compensa-
ton measure failed because Il vas
loosely drawn and not acceptable 10
either labor or capital.
Rating Bureau Bill.
House Bill No. ia, offering North
Dakota a copy OF the Minnesota IRE
rating bureau law, had more FRIENDS
and many warm supporters. The ad'
ministration wanted it, and the COM
missioner OF insurance, in whose OF
flee the bill was drafted, pleaded for
it. But the senate sat on the Dill
on the grounds that no Insurance com
missioner, under the present system
OF electing a new man every two or
four years, can be expecte dto know
enough about fire risks to assume SUI
pervision over rating bureaus. q
These two were the only important
bills affecting the insurance business
which failed, unless there be added
Senator Martins privilege tax meas
ure, which would have had insurance
agents pay a license Of $40 the year
for the privilege of selling policies.
Insurance Bills Passed.
Bills which passed both houses and
now await the signature OF Governor
Frazier. and which have direct or
indirect bearing on insurance, are the
following:
S. 3. 49, amending the laws Of 1913
relative to the assessment Of bank
stock.
S. 3. SO, providing that settlements
for personal injury or death shall be
void # made within 80 days following
date of accident or during period OF
disability.
S. B. Sc, relating to assessment for
taxation of real estate mortgages;
providing for sliding scale OF taxa
ton under which no mortgage, how
ever small, may escape paying tax
of at least 81.
S. B. 50, fixing situs of moneys and
credits for purpose of taxation; pro-
viding that notes, moneys, mortgages
or other evidences of credit shall be
assessed in the territory in which
the business originated, regardless OF
the location Of the corporation or in
dividual holding such credits.
S. B. 247, creating a depositors'
guaranty fund for the protection OF de-
positors in North Dakota banks.
S. 3. l42, an act for the purpose
of perpetuating the testimony of in
jured persons in proceedings in the
courts Of this state.
S. b. rs, requiring steam railways
operating in state to pay employees
semimOnthly.
s. l.. so, providing for compulsory
medical inspection in the public
schools at least once annually.
S. b. 1875, admitting cooperative
and assessment life insurance com.
panies to the state.
S. b. 237, providing for the taxa
ton of inheritances and devises.
s. B. 1873. providing for state board
Of electricians and requiring examina-
ton and registration Of electricians.
( H. B. 50, making perpetual all coun-
,tyf mutual insurance companies here
after organized, and providing for re-
organization OF companies now exist
ent. under this act. 49,"
S. B. Q, constitutional amendment
empowering legislature to levy state
wide land tax to provide for state
hail insurance fund.
II. II. %, requiring assessment accl-
dent and health insurance companies
or associations to deposit $4,000 in
satisfactory state or federal bonds
with commissioner Of insurance for
protection Of policy-holders before re.
ceiving license to operate in state.
II. B. 1853, providing that every per-
son insured by domestic mutual in
surance company shall be member
of that company so long as his pol
icy shall remain in force; that he
shall be entitled to one vote for each
policy held by him, and that due
notice shall be given each policy-hold-
ar of the date for the annual meeting.
H. 3. 154, providing that domestic
insurance companies may pay divi-
dends only from surplus profits and
after a sum equivalent to 40 per cent
Of the premiums on all unexpired
risks shall have been reserved.
H. B. 145. prohibiting delivery or
negotiation of note or check taken in
payment of first premium on life in
surance policy until policy has been
delivered or applicant has passed sat
isfactory medical examination.
H. b. 253, appropriating 100000 to
provide for payment of per cent Of
premiums received on fire insurance
policies to the various fire depart
ments of the state.
A house bill reducing the contract
rate of interest from 10 to 9 per cent
died in the senate during the closing
hours of the session, and the contract
rate in North Dakota remains 10 per
cent, as heretofore.