CHAP. IV. May amend charter. Proceed ings. Certificate of approval. L. 1880, Chap. 222 - An Act to enable marine insurance companies incorporated under the Laws of this State to amend their charters. PASSED May 8, 1880. SECTION 1. Any marine insurance company incorporated under the laws of this State may amend its charter so as to enable it to transact all such business as can be transacted by marine insurance companies in conformity with the laws of this State, by filing in the office of the superintendent of the insurance department a copy of its charter as amended with the written consent of three-fourths, in amount, of its stockholders, if a jointstock company, or if a mutual company, with the written consent of two-thirds of its trustees or directors, and if the said superintendent shall find that such company is in the active prosecution of its business, then on filing the certificate of approval of said superintendent, and the written consent of the attorney-general in the office of said superintendent, it shall be lawful for such company to transact business under its charter as so amended. Said charter to superintendent shall thereupon deliver to such company a certified copy of said amended charter and of said last-mentioned certificate and consent, which, on being filed in the office of the clerk of the company. county where said company is located, shall be its authority to transact business and issue policies; and such certified copy of said amended charter and of said certificate and consent may be used in evidence for or against the said company with the same effect as the originals. Certified copy of amended be deliv ered by superintendent to Amount to be allowed for agents limited to fifteen per premium. L. 1881, Chap. 471- An Act to regulate the charges of SECTION 1. No marine insurance company, whether foreign or or collected domestic, taking risks and insuring property in transitu upon the canals of this State shall demand or receive upon any policy of centum of insurance issued by them for that purpose for the premium of such insurance policy any sum of money as compensation therefor, which shall include in any case over fifteen per centum thereof, as the price or remuneration of agents of such company for the business of obtaining such insurance in any capacity whatever, on a salary or commission; and such insurance companies are hereby forbidden to pay beyond the amount of fifteen per centum of the premium received on account of any such policy so as aforesaid issued, and no part of the eighty-five per centum of said premium retained by said companies shall be paid to any one, except to the regular officers of said company for the benefit of the company itself, and no shipper or middleman or other person shall, either directly or indirectly, be paid or receive any portion of such premium. CHAP. IV. Verified return to show com with this § 2. In all returns to the superintendent of the insurance department now required by law, the insurance companies mentioned in the first section of this act shall verify under oath to such pliance superintendent, in such form as said superintendent may prescribe, act. that said insurance company has performed and fully carried out the provisions of this act. companies his act. 3. The attorney-general, upon information from the superin- Proceedings by tendent of the insurance department, or upon the complaint of attorneygeneral any individual (giving security to be approved by the attorney- against general for the payment of any costs or expenses on the part of violating the State in such case), may proceed against any insurance company violating the provisions of this act, and upon conviction of such violation, the court before whom such proceedings are had may, in its discretion, decree that such company, if foreign, shall no longer be entitled to take risks, or receive premiums, or issue policies within the limits of this State; and in case such company is organized under the laws of this State, the same shall be declared dissolved and no longer capable of exercising the power of insurance; or such court may punish such companies by a fine of not less than five hundred dollars or more than five thousand dollars; and in case of such fine being the judgment of and imposed by the court, the same shall be paid into the State treasury for the benefit of the general fund of the State; and, until such fine is paid, such insurance company, whether foreign or State, shall be absolutely prohibited from taking any premiums or issuing any policies within this State. CHAPTER V. FOREIGN INSURANCE COMPANIES AND COMPANIES OF OTHER STATES, DOING BUSINESS WITHIN THE STATE.* 1849, Ch. 178-Insurance by individuals and associations unauthorized by law... PAGE. 120 SEC. 1. Tax on premiums; payable to fire department, New York. 2. Insurance by certain agents; when to be effected. 3. Penalty for not executing bond 4. Repealed. 5. Sections one, two and three to apply to every city and village having fire department. 6. Repeal. 1857, Ch. 548-Tax upon premiums .. ... .... 122 SEC. 1. Certain laws; so far as they relate to New York city repealed; companies subject to taxation. 2. Effect of repeal. 1861, Ch. 334 — Annual statements .... SEC. 1. Foreign companies to make annual statements. 2. Penalty for neglect, or refusal. 123 123 2. When foreign companies are to file their annual statements. 1865, Ch. 694 - Deposit of securities and payment of fees, etc... 124 SEC. I. Deposit of securities and payment of fees, fines, taxes, etc., required of companies of other States in certain cases. 124 SEC. 1. Restoration of securities held in trust for Foreign Life Ins. Cos. 1866, Ch. 298-- Restoration of securities .... 1866, Ch. 825--Tax on premiums 125 SEC. 1. Taxes on premiums when paid; upon what premiums taxes are payable. 126 1871, Ch. 888-Foreign fire insurance companies SEC. I. Limit of insurance by foreign company. 2. Capital of, what shall be considered; to be vested in trustees approved by superintendent; investments. 3. Amount of capital, how determined. *The insurance legislation of New York, with a single exception (chap. 484, Laws of 1881, 82, post, p. 133), and the usages of the insurance department, carefully discriminate between the companies of other States and those of foreign countries, never designating the former as "foreign corporations." SEC. 4. Trustees, how appointed; may be examined on oath. 5. Certificate required. 6. Restrictions as to reinsurance 7. Capital subject to taxation. 8. Supervision of superintendent; examination of affairs of; cer- SEC. 1. Agents of non-resident companies to pay two dollars on the hundred to fire department. 2. Agents to give bonds. 3. Penalty for doing business without giving bond; penalty, how 4. Act not to apply to New York and Albany. 5. Repeal. 1880, Ch. 428 - Foreign fire and marine insurance companies.. 131 SEC. 1. Conditions upon which foreign fire and marine companies may be admitted to do business in this State; agreement not to remove causes into United States courts. 2. Agreement not to do certain business. 3. Penalty for violation of this act. 4. Where actions may be brought. 1881, Ch. 484 — Real estate held by foreign insurance companies..133 SEC. 1. Laws relating to holding, etc., of real estate by insurance companies organized in this State, to apply to companies of other States. 2. Supervision of such foreign companies. 1882, Ch. 235 - Publication of statements by superintendent.. 133 SEC. 1. Only assets for protection of policyholders in United States to be credited in published statements and reports. 2. When certificates to be revoked. 3. Repeal. 1882, Ch. 371 - Taxes on foreign marine insurance companies.. 134 SEC. 1. In collecting tax from foreign marine insurance companies, superintendent to credit other taxes paid by companies. 1882, Ch. 410-Taxes in New York city on foreign fire insurance companies... SEC. 522. Corporation liable to taxation. 135 523. Moneys paid to fire department by insurance companies, etc. 525. Undertaking. 526. Renewal of undertaking. 527. Penalty for not executing undertaking. 528. Demand for accounts. 529. Place of business to be reported. 530. Suits for violations. 531. Arrest of defendant in action to recover penalty. CHAP. V. CHAP. V. Tax on premiums L. 1849, Chap. 178- An Act further to amend the acts in relation to insurances on property in this State made by individuals and associations unauthorized by law, PASSED March 30, 1849. SECTION 1. There shall be paid to the treasurer of the fire depayable to partment of the city of New York, for the use and benefit of said fire department, New fire department, on the first day of February in each year, by York. Insurance by certain agents, effected. every person who shall act 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 individuals or associations 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 or part of a 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 be paid for any insurance effected or agreed to be effected or promised by him, as such agent or otherwise, against loss or injury by fire in the city and county of New York. People v. Imlay, 20 Barb. 68; Fire Department of New York v. Noble, 3 E. D. Smith, 440. (See Laws of 1866, chap. 825, post, p. 125, and Laws of 1882, chap. 410, post, p. 135.) (This section and the two following, were repealed, so far as they relate to New York city, by Laws of 1857, chap. 548, § 1, post, p. 122, but by § 5 of this act, they are made applicable to certain cities and villages) § 2. No person shall, in the city and county of New York, as agent or otherwise, for any individual, individuals, or association, when to be effect or agree to effect any insurance, upon which the duty above mentioned is required to be paid, or as agent or otherwise procure such insurance to be effected, until he shall have executed and delivered to the said treasurer a bond to the fire department of the city of New York, in the penal sum of one thousand dollars, with such sureties as the said treasurer shall approve, with a condition that he will annually render to the said treasurer on the first day of February in each year, a just and true account, verified by his oath, that the same is just and true, of all premiums, which during the year ending on the first day of September preceding such report shall have been received by him or by any other person for him, or agreed to be paid for any insurance against loss or injury by fire in the city and county of New York, which shall |