shall be bestowed by him upon persons who shall hereafter endanger their own lives in saving or endeavoring to save lives from perils of the sea or waters, within or adjacent to the state of New York, at such times and in such manner as he shall prescribe. medals. § 2. Medals of the first class shall be confined to cases of extreme Award of and heroic daring, and medals of the second class shall be given in cases of less distinguished conduct, but no award of either medal shall be made to any person until sufficient evidence of his heroism shall have been filed with the state comptroller and entered upon the records of the department. tion. § 3. The sum of one hundred dollars is hereby appropriated out Appropriaof any money in the treasury of the state not otherwise appropriated, to defray the expenses of carrying into effect the provisions of this act. § 4. This act shall take effect immediately. Chap. 216. AN ACT to amend section sixty-seven of title two of chapter three Became a law April 7, 1897, with the approval of the Governor. The People of the State of New York, represented in Senate and ment. Section 1. Section sixty-seven of title two of chapter three of Amend part four of the revised statutes, relating to state prisons, and for other purposes connected therewith, as amended by and superseded by chapter three hundred and eighty-two of the law of eighteen hundred and eighty-nine, and chapter two hundred and eight of the laws of eighteen hundred and ninety-four, is hereby amended so as to read as follows: tained for prison. § 67. All lands belonging to the state of New York, or which may Lands rehereafter become the property of said state, and which shall be use of situated within ten miles of the Clinton prison, shall be withdrawn from sale, and shall be retained by the state for the use of said prison. § 2. This act shall take effect immediately. Amendment. Deputies of comptroller. Acts of second deputy legalized. Chap. 217. AN ACT to amend the executive law, relating to the second deputy Became a law April 8, 1897, with the approval of the Governor. The People of the State of New York, represented in Senate and Section 1. Section thirty-one of chapter six hundred and eightythree of the laws of eighteen hundred and ninety-two, entitled “An act in relation to executive officers, constituting chapter nine of the general laws," is hereby amended to read as follows: § 31. Deputies.- The comptroller shall appoint a deputy who shall be paid an annual salary of four thousand dollars and who may perform any of the duties of the comptroller, except the drawing of warrants on the treasury, the auditing of public accounts, and the duties of the comptroller as commissioner of the land office, commissioner of the canal fund, and as state canvasser. The comptroller shall also appoint one of his clerks as second deputy, who shall assist the deputy comptroller in performing any and all of the duties of that position as the comptroller shall direct, and such second deputy comptroller shall not receive any extra salary by reason of such appointment. § 2. All the acts performed since the first day of October, eighteen hundred and ninety-six by the clerk in the office of the state comptroller appointed as a second deputy comptroller, pursuant to section three of chapter thirteen of the laws of eighteen hundred and ninetyfve, which was repealed by chapter five hundred and forty-six of the laws of eighteen hundred and ninety-six, are hereby legalized, ratified and confirmed, and shall be of the same force and effect as if section three of such chapter thirteen of the laws of eighteen hundred and ninety-five had not been so repealed. § 3. This act shall take effect immediately. Chap. 218. AN ACT to amend the insurance law and the act amendatory thereof, relative to capital and surplus. Became a law April 8, 1897, with the approval of the Governor. Passed, three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows: Section 1. Section sixteen of chapter six hundred and ninety of the laws of eighteen hundred and ninety-two, entitled "An act in relation to insurance corporations, constituting chapter thirty-eight of the general laws," and known as the insurance law, as amended by chapter nine hundred and seventeen of the laws of eighteen hundred and ninety-five, is hereby amended so as to read as follows: § 16. Investment of capital and surplus.- The cash capital of every domestic insurance corporation required to have a capital, to the extent of the minimum capital required by law, shall be invested and kept invested in the kinds of securities in which deposits with the superintendent of insurance are required by this chapter to be made. The residue of the capital and the surplus money and funds of every domestic insurance corporation over and above its capital, and the deposit that it may be required to make with the superintendent, may be invested in or loaned on the pledge of any of the securities in which deposits are required to be invested, or in the public stocks or bonds of any one of the United States, or except as herein provided, in the stocks, bonds or other evidence of indebtedness of any solvent institution incorporated under the laws of the United States or of any state thereof, or in such real estate as it is authorized by this chapter to hold; but no such funds shall be invested in or loaned on its own stock or the stock of any other insurance corporation carrying on the same kind of insurance business. Any domestic insurance corporation may, by the direction and consent of two-thirds of its board of directors, managers or finance committee, invest, by loan or otherwise, any such surplus moneys or funds in the bonds issued by any city, county, town, village or school district of this state, pursuant to any law of this state. Any corporation organized under the ninth subdivision of section seventy of the insurance law, for guaranteeing the validity and legality of bonds issued by any state, or by any city, county, town, village, school district, municipality or other civil division of any state, may invest by loan or otherwise any of such surplus moneys or funds in the bonds which they are authorized to guarantee. Every such domestic corporation doing business in other states of the United States or in foreign countries, may invest the funds required to meet its obligation incurred in such other states or foreign countries and in conformity to the laws thereof, in the same kind of securities in such other states or foreign countries that such corporation is by law allowed to invest in, in this state. Any life insurance company may lend a sum not exceeding the lawful reserve which it holds upon any policy, on the pledge to it of such policy and its accumulations as collateral security. But nothing in this section shall be held to authorize one insurance corporation to obtain, by purchase or otherwise, the control of any other insurance corporation. § 2. Section ninety-two of said chapter is hereby amended so as to read as follows: § 92. No forfeiture of policy without notice.-No life insurance corporation doing business in this state shall within one year after the default in payment of any premium, installment or interest declare forfeited or lapsed, any policy hereafter issued or renewed and not issued upon the payment of monthly or weekly premiums, or unless the same is a term insurance contract for one year or less, nor shall any such policy be forfeited, or lapsed, by reason of nonpayment when due of any premium, interest or installment or any portion thereof required by the terms of the policy to be paid, within one year from the failure to pay such premium, interest or installment unless a written or printed notice stating the amount of such premium, interest, installment, or portion thereof, due on such policy, the place where it shall be paid, and the person to whom the same is payable, shall have been duly addressed and mailed to the person whose life is insured, or the assignee of the policy, if notice of the assignment has been given to the corporation, at his or her last known post-office address in this state, postage paid by the corporation, or by any officer thereof, or person appointed by it to collect such premium, at least fifteen and not more than forty-five days prior to the day when the same is payable. The notice shall also state that unless such premium, interest, installment or portion thereof, then due, shall be paid to the corporation, or to the duly appointed agent or person authorized to collect such premium by or before the day it falls due, the policy and all payments thereon will become forfeited and void except as to the right to a surrender value or paid-up policy as in this chapter provided. If the payment demanded by such notice shall be made within its time limited therefor, it shall be taken to be in full compliance with the requirements of the policy in respect to the time of such payment; and no such policy shall in any case be forfeited or declared forfeited, or lapsed, until the expiration of thirty days after the mailing of such notice. The affidavit of any officer, clerk, or agent of the corporation, or of any one authorized to mail such notice that the notice required by this section, has been duly addressed and mailed by the corporation issuing such policy shall be presumptive evidence that such notice has been duly given. No action shall be maintained to recover under a forfeited policy, unless the same is instituted within one year from the day upon which default was made in paying the premium, installment, interest or portion thereof for which it is claimed that forfeiture ensued. § 3. This act shall take effect immediately. Chap. 219. AN ACT making an appropriation for the attendance of the national guard and naval militia of the state of New York at the ceremonies for the dedication of the tomb of General Ulysses S. Grant, on the twenty-seventh of April, eighteen hundred and ninety-seven. Became a law April 8, 1897, with the approval of the Governor. Passed, three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows: tion. Section 1. There is hereby appropriated out of any money in the Appropriatreasury not otherwise appropriated, the sum of twenty-five thousand dollars, or so much thereof as may be necessary, to pay the transportation, subsistence and other necessary expenses of the national guard and naval militia of the state of New York, in attending the ceremonies for dedicating the tomb of General Ulysses S. Grant, on the twenty-seventh of April, eighteen hundred and ninety-seven. Such money shall be paid by the treasurer on the warrant of the How paycomptroller, upon the certificate and audit of the adjutant-general. approved by the commander-in-chief. § 2. This act shall take effect immediately. Chap. 220. AN ACT to provide for the acquisition of land in the territory Became a law April 8, 1897, with the approval of the Governor. The People of the State of New York, represented in Senate and able. preserve Section 1. The governor, within twenty days after this act takes Forest effect, shall appoint from the commissioners of fisheries, game and board. forest and the commissioners of the land office, by and with the advice and consent of the senate, three persons to constitute a board |
