Mexico weekly ledger., 1922-10-19

I auditor for all moneys SO received. fur.
nishing proper vouchers therefor.
(c) During the months of January ana
July of each year the state auditor or
the commission shan cause a valuation
to be made Of the properties and securi-
ties which have been acquired and which
are held for said fund, and shall report
the results of the same to the state audi
tor, whose duty 1t shall be to keep .
special ledger account showing all Of the
assets pertaining to the Missouri compen-
sation insurance fund. In the auditors
general ledger this fund account may be
carried merely as a cash account, like
accounts of funds in the state treasury,
and therein only the actual cash coming
into the Missouri compensation insurance
fund shall be credited to such fund.
(d) Nothing in this act shall be con.
strued as placing the said fund in the
treasury Of the state or under its man.
agement.
Sec. So. (a) The commission shall
cause all moneys in the Missouri COM
%pensation insurance fund, in excess Of
current requirements, to be invested and
reinvested from time to time, in the Sc
curities now or hereinafter authorized
by law for the investment of funds OF
savings banks,
W. AhO COiuHllSSlOu SHALL IIOm Llmo
to time, submit to the board of fund
commissioners an estimate of the amount
required by 1t for investment, which esti-
mate shall be accompanied by a fun
description Of the kind and character Of
the investments to be Ia and when
such estimate shall be approved by the
said board, the state auditor shall draw
his warrant on the Missouri compensa-
ton insurance fund in favor of the COM
mission for such amount and the treas
urer is authorized and directed to pay the
same.
. (c) At the end of each calendar month
the commission shall account to the state
auditor for all moneys so received, fur
nishing proper vouchers therefor.
(d) All moneys in said fund, in excess
OF current requirements and not other
wise invested. may be deposited by the
state treasurer from time to time in the
banks authorized by law to receive de-
posits Of public moneys under the same
rules and regulations that govern the de-
post of other public funds, and the in
terest accruing thereon shall re credited
to the Missouri compensation insurance
fund.
Sec. SO. The state and each county.
municipal corporation, township. school,
road, drainage, swamp and levee district,
school board, board Of education, regents.
curators, managers, or control, commits
sion, board. and Zach other political SUBJ
division, corporation or quasi corpora
ton thereof, may insure against its La
bility for compensation with the Missouri
compensation insurance fund, and the
premium therefor shall be a proper
charge against the general fund of each
such political subdivision of the state.
Sec. "a. The commission shall each
quarter make to the governor of the state,
reports of the business done by the Mis-
souri, compensation insurance fund during
the previous quarter, and a statement
of the funds resources and liabilities, and
it shall be the duty Of the state auditor
to audit such report. The commission
shall likewise make to the superintend-
ent of the insurance department all re-
ports required by law to be made by
other insurance carriers.
Sec. IS. ANY employer who shall will
fully misrepresent the amount of the pay
roll upon which his premium under this
act is based shall be liable to the Mis-
souri, compensation insurance fund in ten
times the amount of the difference in
premium paid and the amount the en-
ployer should have paid had his pay roll
been correctly computed, and the Iabil-
ity to the fund under this section shall
be enforced in a civil action in the name
OF the Missouri compensation insurance
fund, and any amount so collected shall
become a part of said fund.
Sec. So. Any person who wiIlfulIy mis-
represents any fact in order to obtain in
surance at less than the proper rate for
such insurance, or in order to obtain any
payments out of such fund shall be guilty
Of a misdemeanor, and on conviction
thereof shall be punished by a fine of not
, less than fifty dollars nor more than five
! thousand dollars, or by Imprisonment in
the county Jail for not less than one week
nor more than one year, or by both such
fine and Imprisonment.
Sec. 81. For the purpose of providing
: for the expense of administering this act.
every person, partnership, association,
! corporation. whether organized under the
laws of this or any other state or coun-
/ try, company, mutual company. the par
, ties to any Internationally contract, or
{ other plan or scheme. the Missouri COM
, ~pensation insurance fund and every
] other insurance carrier, insuring employ
] ers in this state against liability for per-
= sonal injuries to their employees, or for
death caused thereby. under this act.
3 s IL, as hereinafter provided, pay tax
/ upon the deposits or premiums received.
whether in cash o. notes, in this state, or
: on account of business done in this state,
: for suci. insurance in this state at the
D rate of two and one-half per sent in lieu
: Of all other taxes on such deposits or
pr miums, which amount of taxes shall
Q be assessed and collected as hereinafter
provided; provided that such insurance
I carriers shall be credited with cancelled
: or returned premiums or savings actually
Q paid to the insured in this state, and with
I premiums on reinsurance with insurance
9 carriers authorized and licensed to trans
act business in Missouri, which reinsur-
ance shall be reported by the carrier re-
. insuring such business; but no credit shall
= be allowed for reinsurance in insurance
= carrier not licensed to transact business
: in Missouri,
Sec. IS. II any such insurance carrier
shall fail or refuse to make the return
. required by this act, the said superin-
tendent shall assess the tax against such
Insurance carrier or sef-insurer at the
; rate herein provided for, on such amount
or premiums or deposits as he shall deem
just. and the proceedings thereon shall
be the same as II the return had been
made,
Sec, SO. Every such insurance carrier
shall on or before the first day OF April,
: 1922, and each year thereafter, make a
o return, verified by the affidavit of its
: president and secretary, or other chief
0 officers or agents, to the superintendent
OF the insurance department, stating the
amount Of all such gross premiums or de-