Page images
PDF
EPUB

and they sincerely urge that Congress enact this legislation, as we believe it will provide an unusual measure of protection to the people of Washington in their real estate dealings, and particularly that class of people who usually do not have contacts with bankers and lawyers and others from whom they can seek advice.

I would like to state for the record in connection with Mr. Brinkman's remark that the amendment to his bill over the Capper bill was that it eliminated the possibility of any “ring” and provided open hearings and ample protection so a man could not be denied his license.

There was nothing in the Capper bill that could be construed as creating a real estate ring. I will admit that the hearings designed to be held before a man's license was revoked did not have to be public hearings and in that respect I followed the exact language of the model act. But I know from experience that in no State of the country under the operation of this legislation are the hearings held in any way other than open and, of course, that was our intention.

I would just like to make that correction in the record.
We sincerely hope that Congress will enact this legislation.

Senator BLAINE. Is there anyone else who desires to speak in behalf of the proposed bill who might add any additional valuable information? If not, we will be glad to hear from anyone who is opposed to the bill, the general policy of the bill, or any special feature of the bill.

Usually objectors are very promptly on their feet, and I presume there are none here this morning

Mr. Petty. Might I say to the chairman that there were no objections at the hearing in the House to the bill on principle, but there was one man who objected to having any real-estate man on the commission.

Is that correct?
Mr. BRINKMAN. Except one as to the fraudulent-sale part.
Mr. Petty. Yes; there was one objection to that from outside.

Senator BLAINE. I think I have had a letter from someone objecting to any real-estate agent being a member of the board. As I understand it, in those States where they have created a separate realestate board one member must qualify as a real-estate agent or broker.

Mr. BRINKMAN. In some States all the men are real estate men. In Wisconsin, I believe, and some other States all of the members are real estate men.

Mr. PETTY. Yes; and in some of the States the bill provides the governor shall appoint from a list of men who are members of the real estate organization.

Senator BLAINE. I personally feel that one representing the group which is being regulated ought to be on the board. It is not to protect those who are being regulated, but rather because of the public service he can render on account of his familiarity with the business.

Mr. BRINKMAN. Mr. Chairman, here is a letter from the Comptroller General of the United States with reference to accounting for fees. I think the suggestion he makes might be worked out without much difficulty.

Senator BLAINE. Let me state it, then, for the benefit of the record. Mr. BRINKMAN. I have not read it all myself.

a

а

Senator BLAINE. In accomplishing the purpose he has mentioned, on page 5, lines 22 to 25, and page 6, lines 1 to 6, section 3, referring to the House bill, the language in those lines should be stricken out and for it should be substituted the following:

All fees, charges, fines, and penalties collected by the commission under the provisions of this act shall be paid at least weekly to the collector of taxes in the District of Columbia for deposit in the Treasury of the United States to the credit of the District of Columbia.

The annual estimates for appropriations for the government of the District of Columbia for the fiscal year 1931 and succeeding fiscal years shall include estimates for the appropriation for the operation and maintenance of such office. (See act of April 24, 1926, supra.)

Of course that is purely a question of administering the financial end from the standpoint of the general laws that regulate governmental affairs.

Mr. Petty. There would be no objection to anything of that character. One thought comes to my mind: Supposing an application was pending and it was pending for a long term-this opinion says within a week. That is only a detail, but we could have no objection to working out the administrative features.

Senator BLAINE. Do I understand that the fee to be collected is paid at the time of the application?

Mr. Petty. It is to accompany the application.

Senator BLAINE. Then, of course, that fee would go into the Treasury of the United States.

Mr. PETTY. That is the difficulty.

Senator BLAINE. And then there would have to be an application to have it refunded.

Mr. Petty. An application may be filed and subsequent to the expiration of a week's time the application may be withdrawn or may be denied.

Senator BLAINE. Then that ought to be modified:
Paid in weekly to the collector of taxes for all licenses issued.
Mr. Petty. Yes; I think so.

Senator BLAINE. The board holds the money until it is determined whether or not there is going to be a license issued.

Mr. Petty. In other words, the bill provides 10 days' notice for a hearing before you deny the license, and it might complicate the return of the fee if the license were ultimately denied.

Mr. BRINKMAN. I think that can be worked out with the comptroller.

Mr. Petty. I am satisfied of it.
Senator BLAINE. That is a very simple matter.

If Mr. Brinkman will consult the comptroller, the comptroller will want to prevent this wholly unnecessary procedure of paying it in and paying it out.

If there is no other person who desires to be heard, we will take up the bill relating to foreclosure of mortgages.

(The subcommittee then proceeded to the consideration of other business.)

[blocks in formation]

Regulation of Industrial Insurance

HEARING

BEFORE THE

SUBCOMMITTEE ON INSURANCE AND BANKS OF THE COMMITTEE ON THE DISTRICT OF COLUMBIA

UNITED STATES SENATE

SEVENTY-FIRST CONGRESS

THIRD SESSION

ON

S. 1903

A BILL FOR THE PROTECTION OF HOLDERS
OF INDUSTRIAL INSURANCE POLICIES

IN THE DISTRICT OF COLUMBIA

DECEMBER 19, 1930

Printed for the use of the Committee on the District of Columbia

[blocks in formation]

COMMITTEE ON THE DISTRICT OF COLUMBIA

ARTHUR CAPPER, Kansas, Chair man WESLEY L. JONES, Washington.

WILLIAM H. KING, Utah. ARTHUR R. GOULD, Maine.

CARTER GLASS, Virginia. JOHN J. BLAINE, Wisconsin.

ROYAL S. COPELAND, New York. ARTHUR H. VANDENBERG, Michigan. MILLARD E. TYDINGS, Maryland, HAMILTON F. KEAN, New Jersey.

COLE. L. BLEASE, South Carolins ROBERT D. CAREY, Wyoming.

WILLIAM H. SOUDERS, Clerk

JAMES RING, Assistant Clerk

[blocks in formation]
« PreviousContinue »