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CHAP. III.

of this State. [As amended by Laws of 1866, chap. 785, $ 1; by Laws of 1868, chap. 623, § 1, and by Laws of 1873, chap. 849, $ 1.]

People v. Security Life Ins. & Annuity Co., 78 N. Y. 114; S. C., 7 Abb. N. C. 198; Attorney-General v. North America Life Ins. Co., 82 N. Y. 172.

(See Laws of 1859, chap. 366, § 3, ante, p. 5.)

SCHEDULE.
Table of Mortality based on American Experience.

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[blocks in formation]

100,000
99,251
98,505
97,762
97,022
96,285
95,550
94,818
94,089
93,362
92,637
91,914
91,192
90,471
89,751
89,032
88,314
87,596
86,878
86,160
85,441
84,721
84,000
83,277

749 746 743 740 737 735 732 729 727 725 723 722 721 720 719

24

25

718

18.79 18.09 17.40 16.72 16.05 15.39 14.74 14.09 13.47 12.86 12.26 11.68 II.10 10.54 10.00 9.48 8.98 8.48 8.00 7.54 7.10 6.68 6.28

26

27

718 718

28

48.72 48.08 47.44 46.82 46.16 45.50 44.85 44.19 43.53 42.87 42.20 41.53 40.85 40.17 39.49 38.81 38,11 37.43 36.73 36.03 35.33 34.62 33.92 33.21 32.50 31.78 31.07 30.35 29.62 28,90 28.18 27.45 26.72 25.99 25.27 24.54 23.80 23.08 22.36 21.63 20.91 20,20 19.49

29 30 31 32

53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95

66,797 65.706 64,563 63.364 62,104 60,779 59,385 57,917 56,371 54,743 53,030 51,230 49,341 47,361 45,291 43,133 40,890 38,569 36,178 33,730 31,243 28,738 26,237 23,761 21,330 18,961 16,670 14,474 12,383 10,419 8,603 6,955 5,485 4,193 3,079 2,146 1,402 847 462 216 79 21 3

1,091
1,143
1,199
1,260
1,325
1,394
1,468
1,546
1,628
1,713
1,800
1,889
1,980
2,070
2,158
2,243
2,321
2,391
2,448
2,487
2,505
2,501
2,476
2,431
2,369
2,291
2,196
2,091
1,964
1,816
1,648
1,470
1,292
1,114

933
744
555
385

33

82,551

5.88 5.48

718 719 720 721 723 726 729 732 737 742 749 756 765 774 785 797 812 828 848 870 896 927 962 1,001 1,044

34 35 36 37 38

81,822 81,090 80,353 79,611 78,862 78,106 77,341 76,567

39

40 41 42 43 44 45 46 47

75,782

74,985 74,173 73,345 72,497 71,627 70,731 69,804 68,842 67,841

5.10
4.74
4.38
4.04
3.71
3.39
3.08
2.77
2.47
2.19
1.93
1.69
1.42
1.19

98
80
64
50

246

137

49 50 51 52

58 18 3

CHAP. III.

No person

to act as agent for company

such com

conditions,

nature thereof.

§ 14. It shall not be lawful for any person to act within this permitted State, as agent or otherwise, in receiving or procuring applications

for insurance, or in any manner to aid in transacting the business organized of insurance, referred to in the first section of this act, for other State any company or association incorporated by or organized under ment until the laws of any other State government, unless such company pany has

is possessed of the amount of actual capital required by the complied with certain sixth section of this act for companies in this State, and

the same is invested in stocks or treasury notes of the Stock, and United States, or of the State of New York, or of the

State in which said company is located, or on bonds and mortgages on improved unincumbered real estate within the State where such company is located, or in such stocks or securities as now are, or may hereafter be, receivable by the bank department; but all mortgages deposited by any company under this section shall be upon improved unincumbered real estate, worth seventy-five per cent more than the amount loaned thereon, which stocks and securities shall be deposited with the auditor, comptroller or chief financial officer of the State, by whose laws said company is

incorporated, and the superintendent of the insurance department Certificate of this State, furnished with the certificate of such auditor, compnished as to troller or chief financial officer aforesaid, under his hand and offi

cial seal, that he, as such auditor, comptroller or chief financial officer of such State, holds in trust and on deposit, for the benefit of all the policy-holders of such company, the security before mentioned, which certificate shall embrace the items of the security so held, that he is satisfied that such securities are worth one hundred thousand dollars, if the company proposes to transact the business referred to in the first department, or that they are worth

one hundred thousand dollars if the company proposes to transact Saving the business referred to in the second department. But nothing clause as to exchange herein contained shall be construed to invalidate the agency of any of securi

company incorporated by another State by reason of such company having, from time to time, exchanged the securities so deposited with the auditor, comptroller or chief financial officer of the State in which such company is located, for other stocks or securities, authorized by this act, or by reason of such company having drawn its interest and dividends, from time to time, for

such stocks and securities. Such company shall also appoint an appointed attorney in this State, on whom process of law can be served; and

such attorney shall file with the superintendent of the insurance

to be fur

ties.

An attor

on whom process

CHAP. III. com

may be

Charter to

vice of

agents last

Statement

tion, etc,,

department a certified copy of the charter of said pany, and also a certified copy of the vote or resolution served. of the trustees or directors of the said company appoint- be filed. ing such attorney, which appointment shall continue until another attorney be substituted. And in case any such insurance cor- When serporation shall cease to transact business in this State according to process to the laws thereof, the agents last designated, or acting as such for upon such corporation, shall be deemed to continue agents for such cor- designated. poration, for the purpose of serving process for commencing actions upon any policy or liability issued or contracted while such corporation transacted business in this State, and service of such process, for the causes aforesaid, upon any such agent, shall be deemed a valid personal service upon such corporation. Such company shall also file a statement of its condition and affairs in of condithe office of the superintendent of the insurance department, in to be filed. the same form and manner required for the annual statements of similar companies organized under the laws of this State. It shall

No agent not be lawful for any agent to act for any company referred to in to act, this section, directly or indirectly, in taking risks, collecting premi- procuring ums, or in any manner transacting the business of life insurance in of author

ity. this State, without procuring from the said superintendent a certificate of authority, stating that the foregoing requirements have been What to complied with, and setting forth the name of the attorney for such and where company, a certified copy of which certificate shall be filed in the county clerk's office of the county where the agency is to be established, and shall be the authority of such company and agent to commence business in this State, and such company, or its attorney, shall annually, in the month of January, file with the su- Annual perintendent of the insurance department of this State a statement

to be filed. of its affairs for the preceding year, in the same manner and form provided in the twelfth section of this act for similar companies in this State; and if the said annual statement shall be satisfactory evidence to the superintendent of the insurance department of the solvency and ability of the said company to meet all its engagements at maturity, and that the said deposit is maintained, as above required and provided, he shall issue renewal certificates of authority to the agents of said company, certified copies of which certificates shall be filed in the county clerk's office of the county where the and to be agency is located, during the month of January in each year, and which renewal certificates shall be the authority of such agents to issue new policies in this State for the ensuing year. [As amended

filed.

statements

Renewal

filed.

CHAP. III.

agent can act for

An attor

upon

by Laws of 1853, chap. 551, § 2, and by Laws of 1862, chapter 300, $ 4, as modified by Laws of 1865, chap. 328, $ 3.]

The People v. Imlay, 20 Barb. 68 ; The People v. The New England Mutual Life Ins. Co., 26 N. Y. 303; The People v. McCann, 67 id. 506, Matter of Hartford Life and Annuity Ins. Co., 63 How. 54.

(See Laws of 1865, chap. 328, $ 3, post, p. 77, as to time of filing annual statements, also

see Laws of 1866, chap. 298, post, p. 124.) When § 15. It shall not be lawful for any person to act in this State as

agent or otherwise in receiving or procuring applications for life or foreign insurance health insurance, or in any manner to aid in transacting the busicompanies.

ness of any life or health insurance company, partnership or association, incorporated by or organized under the laws of any foreign government, until such company, partnership or association shall have deposited with the superintendent of the insurance department, for the benefit of the policy-holders of said company, partnership or association, citizens or residents of the United States, securities to the amount of one hundred thousand dollars, of the kind required, or which may hereafter be required, for sim

ilar companies of this State, and shall have appointed an attorney ney to be in this State, on whom process of law can be served, and the said appointed

company, partnership or association shall have filed with the suwhom pro

perintendent of the insurance department a duly certified copy of be served.

the charter or deed of settlement of the said company, partnership Certified

or association, and also a duplicate original copy of the letter or be filed. power of attorney of such company or association appointing the

attorney thereof, which appointment shall continue until another attorney be substituted. And in case any such insurance corporation shall cease to transact business in this State, according to the laws thereof, the agents last designated or acting as such for such corporation, shall be deemed to continue agents for such corporation for the purpose of serving process for commencing actions upon any policy or liability issued or contracted while such corporation transacted business in this State, and service of such

process, for the causes aforesaid, upon any such agent, shall be Statement deemed a valid personal service upon such corporation. Such tion, etc., company, partnership or association shall also file a statement of of company to be filed its condition and affairs, in the office of the superintendent of the superin- insurance department, in the same form and manner required for

the annual statements of similar companies organized under the Agents not laws of this State.

It shall not be lawful for any agent or agents out certific to act for any company, partnership or association referred to in authority. this section, directly or indirectly, in taking risks, collecting pre

cess may

copy of

charter to

Service of process upon agents

of condi

in office of

tendent.

to act with

CHAP. III.

tificate to

where Gled.

statement

miums, or in any manner transacting the business of life insurance in this State, without procuring from the said superintendent a certificate of authority (which shall be renewable annually), stating that the foregoing requirements have been complied with, and What cersetting forth the name of the attorney for such company, a certi- contain and fied copy of which certificate shall be filed in the county clerk's office of the county where the agency is to be established, and which shall be the authority of such company and agent to commence business in this State; and such company, partnership or association, shall annually, on the first day of January, or within Annual thirty days thereafter, file with the superintendent of the insurance to be filed. department, a statement of all its affairs, in the same manner and form provided in the twelfth section of this act for similar companies in this State; which statement shall be made up.for the year ending on the preceding thirtieth day of June, accompanied also by a supplementary annual statement, duly verified by the attor- Suppleney or general agent of the company or association in this State, Statement, giving a detailed description of the policies issued and those which have ceased to be in force during the year, the amount of premiums received and claims and taxes paid in this State and the United States for the year ending on the preceding thirty-first day of December. Said supplementary statement shall also contain a description of the investments of such company or association in this country, and such other information as may be required by said superintendent; and if the said annual statement shall be satisfactory evidence to the said superintendent of the solvency and ability of the said company to meet all its engagements at maturity, he shall issue renewal certificates of authority to the agents of said Renewal company, partnership or association, certified copies of which shall to be issued be filed by such agents in the county clerk's office of the county fied copies where the agency is located, within sixty days after the first day in offices

of county of January in each year, and which renewal certificates shall be clerks the authority of such agents to issụe new policies in this State for agencies the ensuing year All such foreign insurance companies, partnerships and associations engaged in the transaction of the business companies of life or health insurance in this State shall annually, on or before nual tax to the first day of March in each year, pay to the superintendent of

defray ex. the insurance department a tax of two per cent on all premiums

departreceived, in cash or otherwise, by their attorneys or agents in this ment. State during the year ending on the preceding thirty-first day of December, upon which a tax on premiums has not been paid to

What to contaip.

and certi

are located.

penses of

insurance

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