CHAP I. Official seal Certificates etc., to be received as evidence and recorded. Books, papers, etc., in office comptroller and 4. The said superintendent, with the approval of the governor, shall devise a seal, with suitable inscriptions, for his office, a description of which, with a certificate of approval by the governor, shall be filed in the office of the secretary of State, with an impression thereof, which seal shall thereupon be and become the seal of office of the superintendent of the insurance department, and the same may be renewed whenever necessary. Every certificate, assignment or conveyance executed by the said superintendent, in pursuance of any authority conferred on him by law, and sealed with his said seal of office, shall be received as evidence, and may be recorded, in the proper recording offices, in the same manner and with the like effect as a deed regularly acknowledged or proved before an officer authorized by law to take the proof or acknowledgment of deeds; and all copies of papers in the office of the said superintendent, certified by him and authenticated by the said seal, shall in all cases be evidence equally and in like manner as the original, An impression of said seal directly on paper shall be as valid as if made on a wafer or wax. 5. All books, papers and documents, securities, stocks, bonds and mortgages, and all other papers whatever in the comptroller's office, and in the office of the secretary of State, relating to the business of insurance, shall, on demand, be delivered and transto superin- ferred to the superintendent of the insurance department, and be and remain in his charge and custody. secretary of State to be transferred tendent. Superin tendent's office. of. Case v. People, 6 Abb. N. C. 151; S. C., 14 Hun, 50. § 6. There shall be assigned to the said superintendent, by the trustees of the State hall, suitable offices in the city of Albany, for conducting the business of said department; and the said superFurnishing intendent shall, from time to time, furnish the necessary furniture. stationery, fuel, lights and other proper conveniences for the Expenses, transaction of the said business, the expenses of which, together with the rent of said offices, shall be paid on the certificate of the superintendent and the warrant of the comptroller. [As amended by Laws of 1877, chap. 423, § 1.] payment of. Fees to be paid in. partment. §7. There shall be paid by every company, association, person surance de- or persons, or agent, to whom this act shall apply, the following fees toward paying the expenses of executing this act: For filing the declaration now required by law, or the certified copy of a charter also now required, the sum of thirty dollars; for filing the annual statement now required, twenty dollars; for each certificate of authority and certified copy thereof, such sum, not CHAP. I. In case Expenses of department above fees, how exceeding five dollars, as shall be fixed from time to time by the said superintendent; for every copy of paper filed in his office, the sum of ten cents per folio, and for affixing the seal of said office to such copy and certifying the same, one dollar. the expenses of said department shall exceed the amount of fees collected under this act, and paid into the State treasury (exclu- assessed sive of the tax upon marine premiums), the excess of such expenses lected. shall be annually assessed by the superintendent, pro rata, upon all the insurance companies of this State; and the said superintendent is hereby empowered to collect such assessments and pay the same into the State treasury. [As amended by Laws of 1871, chap. 709, § 1.] 8 People v. Miller, 56 N. Y. 448. and col § 8. All laws or parts of laws inconsistent with this act are Repeal. hereby repealed. L. 1861, Chap. 326- An Act to amend the act to establish an Insurance Department, passed April fifteen, eighteen hundred and fifty-nine, and authorizing insurance companies to change the dates of the termination of their fiscal year in certain cases. PASSED April 20, 1861. (SECTION 1. Amends Laws of 1859, chap. 366.) making statements panies. § 2. All fire, marine and life insurance companies now required, Time of or which may hereafter be required, to make annual statements to reports and the insurance department for the year ending on the last day of by comDecember, are hereby authorized and empowered to change the date of the termination of their fiscal year to the thirty-first day of December; and all statements, reports, dividends and balances. now required by law to be made, and all other acts required to be done by said companies, at the termination of their fiscal year or years, or within a limited time thereafter, may be made out and done on the last day of December, and within the same period thereafter, in lieu of such other days of the year, or periods of time, as are now designated by their charter, or otherwise. CHAP. I. Transfer of securities by the superintendent to be counter L. 1868, Chap. 732-An Act in relation to transfer of se- SECTION 1. No transfer of stocks, bonds and mortgages or other securities, now held or hereafter received by the superintendent of the insurance department under the provisions of any act ausigned by thorizing deposits in the said department, shall be deemed valid urer or his or of binding force or effect unless the same be countersigned by deputy. the treasurer of the State, or in his absence from his office or inBook to be ability to perform the duties of his office, by his deputy. It shall kept by the be the duty of the treasurer aforesaid to keep in his office, or in State treas treasurer what to contain. the office of the superintendent of the insurance department, a book in which shall be entered the name of the company from whose account such transfer of securities is made by the superintendent, and the name of the party to whom such transfer is made, unless such transfer shall be made in blank, and the par value of any stock so transferred shall be entered therein, and the amount for which every mortgage transferred is held by the superintendent, and the name of the party to whom assigned, shall also be Duty of the therein entered; and it shall be the duty of the treasurer, immediately upon countersigning and entering the same, to advise, by mail, the company from whose account the transfer is made, of the kind of security, and the amount of the same thus transferred. § 2. The treasurer shall present in his annual report to the leglegislature islature the total amount of such transfers or assignments countertransfers. signed by him. treasurer. Treasurer to report to amount of Duty of treasurer. To have access to books of insurance depart ment. 83. It shall be the duty of the treasurer, or in his absence from his office, or, in case of his inability to perform the duties of his office, of his deputy, to countersign and enter upon the book, in the manner aforesaid, every transfer or assignment of any securities held by the said superintendent presented for his signature; and the treasurer shall have at all times during office hours access to the books of the superintendent of the insurance department, for the purpose of ascertaining the correctness of the transfer or assignment presented to him to countersign; and the superintendent shall have access to the book above mentioned, kept by the treasurer, during office hours, to ascertain the correctness of the entries upon the same. CHAP. I. § 4. The treasurer shall, for the services required by this act, Compen treasurer. receive the annual salary of two hundred and fifty dollars, to be sation of paid in the same manner as the salary of the superintendent, and the same shall be audited and allowed by the said superintendent, and charged in the general expense of the insurance department. (Article V, § 1, of the Constitution, provides that the treasurer shall not receive any fees, perquisites or other compensation, except his stated salary.) superin creased. 5. The annual salary of the superintendent of the insurance Salary of department from and after the first day of January last is hereby tendent inincreased in the sum of two thousand dollars per annum, payable quarterly, in the usual manner, out of the funds of said department. The fees for filing the annual statement of all marine and life Fees for insurance companies transacting business in this State are hereby statements. fixed at fifty dollars each. (See Laws of 1859, chap. 366, § 2, as amended by Laws of 1873, chap. 593, § 1, ante, P. 4, which fixes the salary at $7,000 per annum, payable monthly; and see Laws of 1859, chap. 366, § 7, as amended by Laws of 1871, chap. 709, § 1, ante, p. 6, which fixes the fee for filing the annual statement at $20.00.) annual L. 1873, Chap. 593– An Act to amend an act entitled "An act to establish an insurance department," passed April fifteen, eighteen hundred and fifty-nine. PASSED May 22, 1873. superin tendent admission (SECTION 1. Amends Laws of 1859, chap. 366.) § 2. The said superintendent shall have power to refuse admis- When sion to any company, corporation or association, applying to be sent permitted to transact the business of insurance in this State from may refuse any other State or country, whenever, upon examination, the to comcapital stock of such company, corporation or association shall transact be impaired, and, also, whenever, in his judgment, such refusal to this State. admit shall best promote the interests of the people of this State. panies to business in L. 1874, Chap. 398 – An Act to provide for the support of government and for other purposes PASSED May 9, 1874 (The annual Appropriation Act — Extract from Section 1.) All fees and perquisites of every name and nature charged, All fees and received and collected by the insurance department, or any officer thereof, shall be immediately paid into the treasury. (The annual appropriation acts of 1872, chap. 541, and of 1873, chap. 643, contain substantially the same provisions.) perquisites to be paid into the treasury. L. 1881, Chap. 600 – An Act to regulate the depositing of SECTION 1. In all cases where, by the laws of this State, any insurance company is required to deposit with the superintendent of the insurance department, stocks or bonds of the United States, or of the State of New York, as security for policy-holders, bearing not less than six per centum per annum, the superintendent may receive for the purposes of such deposit registered stocks or bonds of the United States or of the State of New York, bearing any rate of interest, provided that such stocks or bonds shall not be received at a rate above their par value. And if the market value of such stocks or bonds deposited, or offered for deposit, shall at any time be less than par, the superintendent shall require an additional deposit of such stocks or bonds to make the total deposit equal in the aggregate to the sum required by law to be deposited with the superintendent. (The foregoing act supersedes Laws of 1880, chap. 22, which is therefore omitted.) |