tion of cer issued to agents of nies. tal stock. com company stock. Whenever it shall appear to the said superintendent from the state- Revocament of any life or casualty insurance company made to the insurance tificates department, or from an examination of the affairs of any such company (if a stock company), that its capital stock is impaired to the extent foreign of fifty per cent thereof, it shall be the duty of the said superinten- compadent, if the company is organized under the laws of any other State or country to revoke the certificate of authority issued to the agent or agents of any such company, and shall cause a notice thereof to be published in the State paper for four weeks, and the agent or agents of such company are, after such notice, required to discontinue the issuing of any new policies. If the company so impaired is organized Making under the laws of this State, it shall be the duty of said superintendent good capito direct the officers thereof to require the stockholders to make good in cash the amount of such deficiency within ninety days after the date of his requisition. And in case of the failure of the stockholders Failure of to comply with such demand, it shall be the duty of the superintend-stokholdent to report the facts to the attorney-general, who shall thereupon ply. bring an action in the supreme court for the dissolution of the corporation. And in case it shall satisfactorily appear to the court that the Dissoluassets and funds of the company are not sufficient to justify the tion of further continuance of the business of insuring lives, granting by court. annuities and incurring new obligations, as authorized by its charter, the court shall render jugdment dissolving such company, and directing a distribution of its assets, exclusive of those deposited with the superintendent of the insurance department. Provided that Reduction any company organized under the laws of this State, whose capital is or capital impaired as above fifty per cent, may, by a vote of a majority of its directors at a meeting called for that purpose, reduce its capital stock to an amount not less than one hundred thousand dollars; and the said directors are hereby empowered to issue new certificates of stock to the stockholders for the amount of the reduced capital, and require in return all certificates previously issued. Whenever it shall appear Assets into the superintendent that the assets of any of the companies referred sufficient to in this section, other than stock companies, are insufficient to reinsure sure risks. its outstanding risks, he shall communicate the facts to the attorneygeneral, whose duty it shall then be to bring an action in the supreme court for the dissolution of such company. And in case it shall satis- Dissolufactorily appear to the court in such action that the assets and credits tion of of the company are not sufficient to reinsure its outstanding risks, the by court. court shall render judgment dissolving the company and directing a distribution of its assets, exclusive of the securities deposited with the superintendent of the insurance department. In any action authorized Powers of by this section the court may prescribe the time within which the com- court in pany proceeded against shall answer, and may hear and try the issues at such time, in such manner, and upon such notice as the court may direct; and may appoint a referee to inquire into and report upon the facts; and shall have power to grant such orders, and in its discretion, from time to time, to modify or revoke the same, as the facts or evidence in the case, and the situation of the parties and the interests involved shall seem to require. After the rendition of any judgment referred to in this section, the court shall have power to order the distribution by the superintendent of the securities and funds deposited with and held by him under the provisions of this act. And in esti- liabilities mating the condition of any life insurance company under the provi- ing condi sions of this act, the superintendent shall allow as assets only such tion of investments as are authorized by the existing laws of the State nies. to rein company actions. Assetsand in estimat compa at the date of examination, and shall charge as liabilities in addition to the capital stock all outstanding indebtedness of the company and a premium reserve on policies, and additions thereto in force, based on net premiums, American experience table of mortality, with four and one-half per cent interest. And in estimating the condition of any casualty insurance company under the provisions of this act, the superintendent shall allow as assets only such investments as are authorized by the existing laws of the State at the date of his investigation; and shall charge as liabilities, in addition to the capital stock, all outstanding indebtedness of the company and a premium reserve on policies in force equal to the unearned portions of the premiums paid by the insured for covering the risks, computed on each respective risk from the date of the issuance of the policy. The report of every examinareport of tion of the affairs of a company made pursuant to this act shall be verified by the person making such examination, to be just and true in all respects according to the best of his knowledge and understanding, and when so verified shall be presumptive evidence in all courts and Expense legal proceedings. The expense of any examination made under this section shall be borne by the company whose affairs are so examined, to be paid by the company to the State treasurer after being approved by the superintendent of the insurance department and audited by the comptroller. Verified examination. of exami nation. Pending suits, etc. Repeal. Official acts as jus tice of the §3. This act shall not impair or affect any action or proceedings now pending in any court against any insurance company, but the courts shall have the same power to proceed in such actions or proceedings to final decision, decree or judgment, as if this act had not been passed. § 4. All acts or parts of acts inconsistent herewith are hereby repealed. 5. This act shall take effect immediately. Chap. 162. AN ACT to legalize the official acts of John C. Brown, a justice of the peace of Davenport, in the county of Dela ware. PASSED April 16, 1879; three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows: SECTION 1. All the official acts and proceedings of John C. Brown, a justice of the peace in and for the town of Davenport, in the county of peace le Delaware, since the commencement of his term of office, on the first galized. day of January, eighteen hundred and seventy-nine, to and including the sixteenth day of January, eighteen hundred and seventy-nine, are hereby legalized and confirmed, and shall have the same force and validity as if the said John C. Brown had filed his official bond as required by law, and the official bond filed by him on the said sixteenth day of January shall have all the force, effect and validity as if said bond had been filed on the first day of January, eighteen hundred and seventy-nine. Proviso. § 2. Nothing in this act shall affect any suit or proceeding now pending in any court of this State. § 3. This act shall take effect immediately. Chap. 163. AN ACT to amend the code of civil procedure. PASSED April 16, 1879. The People of the State of New York, represented in Senate and Assembly, do enact as follows: SECTION 1. Subdivision one of section seven hundred and ninety-one of the code of civil procedure, is hereby amended so as to read as follows: tions by or the people 1. An action or special proceeding brought by or against the people Preferof the State, or by or against any State officer or board of State officers ence of ac as such, and in which the people or such officer or board, appear by against the attorney-general; where the attorney-general has given notice, at the time of service of notice of trial or argument, of a particular day in the term on which he will move it. If the action or special proceeding is not moved by him for trial or argument on that day, or as soon thereafter in the same term as the court can hear it, the other party may then move the trial or argument; otherwise it shall not be moved out of its order at that term, except by the special order of the court. § 2. This act shall take effect immediately. Chap. 164. AN ACT to amend article three, title one of chapter eight, part two of the revised statutes, entitled "Of divorces dissolving the marriage contract." PASSED April 16, 1879. The People of the State of New York, represented in Senate and Assembly, do enact as follows: SECTION 1. Section forty-nine of article three of title one of chapter eight of part two of the revised statutes, is hereby amended so as to read as follows: vorce. § 49. Whenever a marriage shall be dissolved pursuant to the pro- Marriage visions of this article, the complainant may marry again during the alter di life-time of the defendant; but no defendant convicted of adultery shall marry again until the death of the complainant, unless the court in which the judgment of divorce was rendered shall in that respect modify such judgment, which modification shall only be made upon satisfactory proof that the complainant has remarried; that five years have elapsed since the decree of divorce was rendered, and that the conduct of the defendant since the dissolution of said marriage has been uniformly good. § 2. This act shall take effect immediately. Costs and ces. Chap. 165. AN ACT to amend chapter one hundred and eighty-six of the laws of eighteen hundred and seventy-eight, entitled "An act in relation to the city court of Yonkers." PASSED April 16, 1879; three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows: SECTION 1. Subdivision two of section fifty of chapter one hundred and eighty-six of the laws of eighteen hundred and seventy-eight, entitled "An act in relation to the city court of Yonkers," is hereby amended so as to read as follows: 2. In all actions where the amount recovered by the plaintiff is fifty allowan dollars or more, and in all cases where the defendant shall plead a counterclaim of more than fifty dollars, and the recovery be for the plaintiff, the plaintiff shall be entitled to the sum of ten dollars for costs, and where the amount recovered is two hundred dollars or more, then, in such case, fifteen dollars. If judgment be given against the plaintiff after appearance by defendant, in an action where fifty dollars. or more was claimed in the summons, or where the defendant claimed in his answer and recovered fifty dollars or more, the defendant shall be entitled to ten dollars costs. In all actions where a recovery is had by either party of more than fifty dollars, and in all actions where one party shall demand a recovery of more than fifty dollars, and the judgment be for the other party, the prevailing party shall also be entitled to ten dollars for every trial of an issue of law, and fifteen dollars for every trial of an issue of fact; and in an action where a trial shall be had wherein the claim in either pleading is over two hundred dollars, the court may, in its discretion, make an additional allowance to the prevailing party not exceeding twenty-five dollars. Ibid. § 2. Subdivision four of said section fifty is hereby amended so as to read as follows: 4. The appellant on reversal, and the respondent upon affirmance, or the dismissal of an appeal by the county court of Westchester county of a judgment of the city court of Yonkers, or the city judge, shall be entitled to twenty-five dollars costs; and the prevailing party, on an appeal from an order, shall be entitled to ten dollars costs, except that when such reversal shall involve the granting of a new trial such costs shall not be absolute, but shall in all cases abide the event of such new trial. § 3. This act shall take effect immediately. Chap. 166. AN ACT to provide for the settlement of the boundary lines between the State of New York and the State of Connecticut. PASSED April 16, 1879; three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows: sioners to lines. SECTION 1. The secretary of state, the attorney-general and the state Commis engineer and surveyor are hereby designated and appointed as com- ascertain missioners on the part of the State of New York to ascertain the boun- boundary dary lines between this State and the State of Connecticut, both upon the west and south of the State of Connecticut, and the said commissioners are hereby authorized and empowered to meet such commis- Their sioners as have been or may be appointed, and vested with similar powers. powers on the part of the State of Connecticut, under authority of the legislature thereof, and with such last-mentioned commissioners as soon as may be, to ascertain and agree upon both of the said boundary lines, designating the same by suitable monuments at such places as they shall deem necessary; and said commissioners hereby appointed are Survey. authorized to employ such surveyors and assistants as may be necessary. The said commissioners shall report their doings to the Report. legislature of this State for its consideration and ratification. ors. ation for § 2. The sum of three thousand dollars, or so much thereof as may Appropri be necessary, is hereby appropriated out of any moneys in the treasury expenses. applicable to such purposes to pay the necessary expenses and disbursements of the said commissioners in the performance of the duties required by this act, and the comptroller is authorized to draw his warrant upon the treasurer for the moneys hereby appropriated, from time to time, as the same may be needed. §3. This act shall take effect immediately. Chap. 167. AN ACT for the safety and protection of oarsmen rowing on the Hudson river opposite the city of New York in regattas, given under the auspices of the Metropolitan Association of Amateur Oarsmen. PASSED April 16, 1879; three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows: commis regatta course SECTION 1. It shall be lawful for the police commissioners of the city Police and county of New York, whenever they shall be notified in writing by the Metropolitan Association of Amateur Oarsmen, that a regatta may keep is to be given under its auspices on the Hudson river, opposite Washington Heights, New York city, to keep the course used for any such clear. regatta free and clear of all boats and vessels of every description during the actual time of the regatta, which shall not exceed six hours in any one day; provided, Proviso. |