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CHAP. V.

may sue for

four hundred and sixty-five of the laws of eighteen hundred and seventy-five, as amended by chapter three hundred and fifty-nine of the laws of eighteen hundred and seventy-six, shall, on or before the fifteenth day of November, in each year, apportion and pay over all such moneys so received to the treasurers of the several fire companies as are duly recognized by the common council or trustees of such city or village. And if he shall neglect or re- Penalty for fuse to perform any or all of the duties required by this act, he neglect. shall be subject to a penalty of two hundred dollars for such neglect or refusal; and the foreman of any fire company shall be Foreman entitled to, and may maintain an action and sue for in the name company, of and for the benefit of such fire company, any of the proportion of penalty. penalties prescribed by this act; and the premiums or penalties to which such company may be entitled under chapter four hundred and sixty-five of the laws of eighteen hundred and seventyfive, as amended by chapter three hundred and fifty-nine of the laws of eighteen hundred and seventy-six. But no action shall be maintained or recovery be had in any court in this State, for or on heretofore

happening. account of any such offense heretofore happening; nor shall any such court have power or authority to render judgment for or on account of any such offense heretofore happening, when such agent shall have paid to the party entitled to the same the premium required to be paid by section one of this act as amended by section one of chapter three hundred and fifty-nine of the laws of eighteen hundred and seventy-six. [As amended by Laws of 1878, chap. 138, § 2, and by Laws of 1879, chap. 153, § 1.]

(See Laws of 1849, chap. 178, 83, ante, P. 121.) $ 4. None of the provisions of this act shall apply to the cities of Act not to New York or Albany. [As amended by Laws of 1876, chap. 359, $ 3.] Apply yo $ 5. All acts or parts of acts inconsistent with the provisions of and Albany

Repeal. this act are hereby repealed.

Offenses

L. 1880, Chap. 428 – An Act further to regulate the ad

mission to this State of fire and marine insurance companies from other countries than the United States.

PASSED May 27, 1880. SECTION 1. Fire or marine insurance companies from other Conditions countries than the United States hereafter applying for admission which to this State may be admitted to transact business in this State on fire ana

may be admitted to do busi.

not to remove causes into United States courts,

CHAP. V.

presenting to the superintendent of the insurance department legal marine companies and satisfactory evidence of the possession by them of a capital, of

which there is paid up in cash, and invested in securities of the ness in this same general character as those which companies of this State are State.

permitted to hold, not less than five hundred thousand dollars or one hundred thousand pounds sterling, and upon depositing with the superintendent of the insurance department such securities as

foreign insurance companies are now required by law to deposit, Agreement and in such amount as is required by existing laws; provided that

before

any
such

company shall be admitted to transact business in this State, it shall execute under its corporate seal, and the hand of its president by authority of its board of directors, and file with said superintendent an agreement that it will not apply to remove into the United States court any action brought against it in any court of this State, and that if it shall make any such application, its authority to transact the business of insurance in this State shall cease and determine, and whenever it shall appear to the superintendent of the insurance department that any such company has made such application to remove such an action contrary to such agreement, he shall revoke the certificate of such company to do business in this State, and notify the agents thereof, and the agents of such company after such notice shall discontinue the issuing of

any new policy Agreement § 2. The superintendent shall require any such company doing not to do

business, which companies organized under the laws of this State business.

are probibited from transacting, to file in his office an agreement under the corporate seal of such company, that it will not (while authorized to do business in this State), transact in this State such

business. Penalty for $ 3. Any person violating any of the provisions of this act shall violation of be deemed guilty of a misdemeanor. Any company or corporation

of this State violating any of the provisions of this act shall be subject to a fine of five hundred dollars for each and every offense, to be sued for and recovered in the name of the people of the State by the attorney-general, and such penalty when recovered shall be paid into the treasury of the State. Any company, partnership, association or corporation of any other State or country violating or allowing any of its agents to violate any of the provisions of this act, shall be prohibited from transacting further business in this State, and the certificates of authority issued to the agents of such company, partnership, association or corpora

certain

CHAP. V.

tion, shall be revoked forthwith by the superintendent of the insurance department.

8 4. Suits or actions may be brought against companies from where other countries in any district court in the city of New York, or maybe

brought. before any justice of the peace or any other court where such suits or actions can be brought against companies organized under the laws of this State.

ance com

L. 1881, Chap. 484–An Act relating to real estate held

by insurance companies organized under the laws of other States and countries.

PASSED June ro, 1881. SECTION 1. All provisions of the laws of this State relative to Laws rethe acquiring, holding or disposing of real estate in this State by holding, corporations organized under the laws of this State for the transac- real estate tion of the business of fire, life or marine insurance, shall be appli

by insurcable and extended to similar insurance companies organized under

panies

organized the laws of and located in other States and countries transacting State, to business in this State ; and any last-named corporation may hold

apply to

companies and convey real estate in this State, in the same manner and subject to the same limitations and restrictions prescribed for similar corporations of this State.

82. Such foreign corporations shall be subject to the same Supervision supervision and control by the superintendent of insurance, in foreign

companies. regard to real estate situated in this State, as such superintendent has in regard to real estate held by similar corporations of this State. And the said superintendent shall have, possess and exer cise the same powers and duties as regards any real estate now or hereafter owned by any foreign insurance company as said superintendent has, possesses or exercises as to the real estate of similar insurance companies of this State.

of other States.

L. 1882, Chap. 235 – An Act to prevent the publication

or rendering of statements of foreign fire insurance companies, other than statements of their assets and business done in the United States.

PASSED May 30, 1882. SECTION 1. The superintendent of the insurance department is

Only assets hereby prohibited from making any publication or statement in his for protecannual report to the legislature which gives credit for the assets policy

holders in held or business done by any insurance company organized under United

CHAP. V.

States to be

and re

the laws of any foreign government or country, and authorized to credited in transact business in this State, other than for assets held for the statements protection of all the policyholders on business done within the ports. United States. Hereafter all foreign fire insurance companies

making statements or reports to the superintendent of insurance shall only report and be credited with the business done and assets held by or for them within the United States for the protection of all the policyholders residing within the United States, and it shall not be lawful for such companies to make any statement, publication or advertisement in regard to their assets and business, except as hereinbefore mentioned.

§ 2. It shall be the duty of the superintendent of the insurance department to revoke the certificate of authority issued on behalf

of any company violating the provisions of this act. Repeal.

$ 3. All acts or parts of acts inconsistent herewith are hereby repealed.

When certificate to be revoked.

In collect

L. 1882, Chap. 371- An Act to regulate the payment of

taxes by marine insurance companies of other States and countries.

PASSED June 29, 1882. SECTION 1. The superintendent of the insurance department is ing two per cent tax the hereby authorized and directed in collecting the two per cent tax tendent to imposed on marine insurance companies of other States and counother taxes tries by chapter two hundred and seventy-seven of the laws of companies. eighteen hundred and twenty-four, as amended by chapter thirty

of the laws of eighteen hundred and thirty-seven and chapter one hundred and seventy-eight of the laws of eighteen hundred and forty-nine, to deduct therefrom all other taxes paid by such companies under the laws of this State. All taxes thus collected by the superintendent of the insurance department shall be by him paid into the treasury of the State, monthly, the same as all other fees collected by him pursuant to law.

CHAP. V.

L. 1882, Chap. 410 – An Act to consolidate into one act

and to declare the special and local laws affecting pub-
lic interests in the city of New York.

PASSED July 1, 1882.
(CHAPTER XI.)
Title 7 -- Tax upon Foreign Insurance Companies,

(See Laws of 1857 chap. 548, 8 1, and note, ante, p. 122.) $ 522. Any corporation or association created by or organized Corporaunder the laws of any government other than the States of this to taxation. Union, and having assets, funds or capital, not less in amount than one hundred and fifty thousand dollars, invested in this State, shall be liable to taxation upon such assets, funds or invested capital, as the same is levied or assessed yearly by law, which tax shall be paid as follows: Such an amount thereof as would be equal to two per cent upon its gross premiums, received for insurance upon property in the city of New York shall, except as otherwise in this title provided, be paid annually to the treasurer of the fire department, and the residue of said tax, requisite to make up the full amount of taxation upon its capital, shall be paid to the mayor, aldermen, and commonalty, as in the case of ordinary taxation; and the payments, so made as aforesaid, shall exempt such corporation or association making the same from any and all further taxation upon its premiums, capital or assets; and whenever such capital shall be reduced below said sum of one hundred and fiftythousand dollars, or withdrawn entirely, then and in either event such corporation or association shall be liable to pay the tax upon its premiums as heretofore provided in this title.

(Laws of 1857, chap. 548, $ 1, as amended by Laws of 1858, chap. 255, $ 1.) $ 523. There shall be paid to the treasurer of the fire depart. Moneys. ment for the use and benefit of said fire department, on the first depart

paid to fire day of February in each year, by every person who shall act insurance

companies, 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 indi viduals or association 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 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

etc.

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