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CHAP. IV:

L. 1880, Chap. 222 - An Act to enable marine insurance

companies incorporated under the Laws of this State to amend their charters.

PASSED May 8, 1880. May

SECTION 1. Any marine insurance company incorporated under amend

the laws of this State may amend its charter so as to enable it charter.

to transact all such business as can be transacted by marine

insurance companies in conformity with the laws of this Proceed- State, by filing in the office of the superintendent of the insurance ings.

department a copy of its charter as amended with the written consent of three-fourths, in amount, of its stockholders, if a jointstock company, or if a mutual company, with the written consent

of two-thirds of its trustees or directors, and if the said superinCertificate tendent shall find that such company is in the active prosecution proval. of its business, then on filing the certificate of approval of said

superintendent, and the written consent of the attorney-general in

the office of said superintendent, it shall be lawful for such comCertified copy of pany to transact business under its charter as so amended. Said charter to superintendent shall thereupon deliver to such company a certified be deliyered by

copy of said amended charter and of said last-mentioned certificate superin

and consent, which, on being filed in the office of the clerk of the company. county where said company is located, shall be its authority to

transact business and issue policies; and such certified copy of said amended charter and of said certificate and consent may be used in evidence for or against the said company with the same effect as the originals.

of ap

tendent to

L. 1881, Chap. 471 – An Act to regulate the charges of

marine insurance companies upon the canals of this State.

PASSRD June 6, 1881. Amount to

SECTION 1. No marine insurance company, whether foreign or be allowed or collected domestic, taking risks and insuring property in transitu upon the limited to canals of this State shall demand or receive upon any policy of fifteen per centum of insurance issued by them for that purpose for the premium of such premium.

insurance policy any sum of money as compensation therefor, which shall include in any case over fifteen per centum thereof, as the price or remuneration of agents of such company for the business of obtaining such insurance in any capacity whatever, on a salary or commission; and such insurance companies are hereby forbidden to pay beyond the amount of fifteen per centum of the

CHAP. IV.

return to show com

premium received on account of any such policy so as aforesaid issued, and no part of the eighty-five per centum of said premium retained by said companies shall be paid to any one, except to the regular officers of said company for the benefit of the company itself, and no shipper or middleman or other person shall, either directly or indirectly, be paid or receive any portion of such premium.

§ 2. In all returns to the superintendent of the insurance de Verified partment now required by law, the insurance companies mentioned in the first section of this act shall verify under oath to such pliance superintendent, in such form as said superintendent may prescribe, act. that said insurance company has performed and fully carried out the provisions of this act.

§ 3. The attorney-general, upon information from the superin- Proceedtendent of the insurance department, or upon the complaint of attorneyany individual (giving security to be approved by the attorney-against

companies general for the payment of any costs or expenses on the part of violating the State in such case), may proceed against any insurance company violating the provisions of this act, and upon conviction of such violation, the court before whom such proceedings are had may, in its discretion, decree that such company, if foreign, shall no longer be entitled to take risks, or receive premiums, or issue policies within the limits of this State; and in case such company is organized under the laws of this State, the same shall be declared dissolved and no longer capable of exercising the power of insurance; or such court may punish such companies by a fine of not less than five hundred dollars or more than five thousand dollars; and in case of such fine being the judgment of and imposed by the court, the same shall be paid into the State treasury for the benefit of the general fund of the State ; and, until such fine is paid, such insurance company, whether foreign or State, shall be absolutely prohibited from taking any premiums or issuing any policies within this State.

his act.

CHAPTER V.

FOREIGN INSURANCE COMPANIES AND COMPANIES OF OTHER STATES, DOING BUSINESS WITHIN THE STATE. *

PAGE.

I 20

I 22

123

1849, Ch. 178 — Insurance by individuals and associations un

authorized by law.....
Sec. 1. Tax on premiums; payable to fire department, New York.

2. Insurance by certain agents; when to be effected.
3. Penalty for not executing bond
4. Repealed.
5. Sections one, two and three to apply to every city and village

having fire department.

6. Repeal. 1857, Ch. 548 — Tax upon premiums .... SEC. 1. Certain laws ; so far as they relate to New York city. repealed ;

companies subject to taxation.

2. Effect of repeal. 1861, Ch. 334 — Annual statements ... SEC. 1. Foreign companies to make annual statements.

2. Penalty for neglect, or refusal. 1865, Ch. 199 When statement to be filed .....

123 SEC. I. Amends L. 1853, Ch. 466,

2. When foreign companies are to file their annual statements, 1865, Ch. 694 — Deposit of securities and payment of fees, etc... 124 SEC. I. Deposit of securities and payment of fees, fines, taxes, etc.,

required of companies of other States in certain cases. 1866, Ch. 298 -- Restoration of securities ....

I24 SEC, 1. Restoration of securities held in trust for Foreign Life Ins. Cos. 1866, Ch. 825--Tax on premiums

125 SEC. I. Taxes on premiums when paid ; upon what premiums taxes

are payable, 1871, Ch. 888 – Foreign fire insurance companies

126 SEC. I. Limit of insurance by foreign company. 2. Capital of, what shall be considered ; to be vested in trustees

approved by superintendent ; investments. 3. Amount of capital, how determined.

* The insurance legislation of New York, with a single exception (chap. 484, Laws of 1881, $ 2, post, p. 133), and the usages of the insurance department, carefully discriminate between the companies of other States and those of foreign countries, never designating the former as “foreign corporations."

SEC. 4. Trustees, how appointed; may be examined on oath.

CHAP. V.
5. Certificate required.
6. Restrictions as to reinsurance
7. Capital subject to taxation.
8. Supervision of superintendent; examination of affairs of ; cer-

tificate, for what revoked.
9. Penalties.
10. What included in this act.

1875, Ch. 465 - Tax upon premiums.....

129 Sec. 1. Agents of non-resident companies to pay two dollars on the

hundred to fire department.
2. Agents to give bonds.
3. Penalty for doing business without giving bond; penalty, how

collected, apportioned and paid over ; penalty for neglect;
foreman of fire company may sue for penalty; offenses here-

tofore happening:
4. Act not to apply to New York and Albany.

5. Repeal.
1880, Ch. 428 — Foreign fire and marine insurance companies. . 131
SEC. I. Conditions upon which foreign fire and marine companies may

be admitted to do business in this State; agreement not to

remove causes into United States courts.
2. Agreement not to do certain business.
3. Penalty for violation of this act.

4. Where actions may be brought.
1881, Ch. 484 — Real estate held by foreign insurance companies.. 133
SEC. 1. Laws relating to holding, etc., of real estate by insurance com-

panies organized in this State, to apply to companies of other

States.

2. Supervision of such foreign companies. 1882, Ch. 235 - Publication of statements by superintendent.. 133 Sec. 1. Only assets for protection of policyholders in United States to

be credited in published statements and reports. 2. When certificates to be revoked.

3. Repeal. 1882, Ch. 371 — Taxes on foreign marine insurance companies.. 134 SEC, 1. In collecting tax from foreign marine insurance companies,

superintendent to credit other taxes paid by companies. 1882, Ch. 410 — Taxes in New York city on foreign fire insurance companies...

135 Sec. 522. Corporation liable to taxation.

523. Moneys paid to fire department by insurance companies, etc.
524. Account of premiums.
525. Undertaking.
526. Renewal of undertaking.
527. Penalty for not executing undertaking.
528. Demand for accounts.
529. Place of business to be reported.
530. Suits for violations.
531. Arrest of defendant in action to recover penalty.

CHAP. V.

L. 1849, Chap. 178– An Act further to amend the acts in

relation to insurances on property in this State made by individuals and associations unauthorized by law,

PASSED March 30, 1849. Tax on

SECTION 1. There shall be paid to the treasurer of the fire depremiums payable to partment of the city of New York, for the use and benefit of said ment, New fire department, on the first day of February in each year, by York,

every person who shall act in the city and county of New York, as agent for or on behalf of any individual, or association of individuals, not incorporated by the laws of this State, to effect insurances against losses or injury by fire in the city and county of New York, although such individuals or associations may be incorporated for that purpose by any other State or country, the sum of two dollars upon the hundred dollars, and at that rate, upon the amount of all premiums which during the year or part of a year, ending on the next preceding first day of September, shall have been received by such agent or person, or received by any other person for him, or shall have been agreed to be paid for any insurance effected or agreed to be effected or promised by him, as such agent or otherwise, against loss or injury by fire in the city and county of New York.

People v. Imlay, 20 Barb. 68; Fire Department of New York v. Noble, 3 E. D. Smith, 440. (See Laws of 1866, chap. 825, post, p. 125, and Laws of 1882, chap. 410, post, p. 135.) (This section and the two following, were repealed, so far as they relate to New York city, by Laws of 1857, chap. 548, § 1, post, p. 122, but by $ 5 of this act, they are made

applicable to certain cities and villages) Insurance

8 2. No person shall, in the city and county of New York, as agenestain agent or otherwise, for any individual, individuals, or association, when to be effect or agree to effect any insurance, upon which the duty above

.

mentioned is required to be paid, or as agent or otherwise procure such insurance to be effected, until he shall have executed and delivered to the said treasurer a bond to the fire department of the city of New York, in the penal sum of one thousand dollars, with such sureties as the said treasurer shall approve, with a condition that he will annually render to the said treasurer on the first day of February in each year, a just and true account, verified by his oath, that the same is just and true, of all premiums, which during the year ending on the first day of September preceding such report shall have been received by him or by any other person for him, or agreed to be paid for any insurance against loss or injury by fire in the city and county of New York, which shall

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