This historic book might have quite a few typos and lacking textual content. Purchasers can download a free scanned copy of the unique book (with out typos) from the writer. Not listed. Not illustrated. 1916 Excerpt: … Impairment Of Capital.–If the Insurance Commissioner is of the opinion, upon examination or different proof, that a overseas insurance coverage company is in an unsound situation, that its precise funds, unique of capital, are lower than its liabilities, certificates of authority could also be revoked. Constancy and Surety Corporations. The liabilities of such company should not exceed its obtainable belongings, however such liabilities should not be construed to incorporate its capital inventory, nor its contingent liabilities upon bonds or undertakings executed by it underneath the provisions of this text, however shall embrace its excellent money owed and a premium reserve equal to fifty percentum of the annual premiums of all excellent dangers in pressure. Misrepresentation In Software Or Proof Of Loss.–No written or oral misrepresentation, or guarantee therein made, within the negotiation of a contract or coverage of life insurance coverage, or within the software therefor or proof of loss thereunder, shall defeat or void the coverage, or forestall its attaching, until such misrepresentation is made with precise intent to deceive, or until the matter misrepresented improve the danger of loss. Municipal Taxes And Charges.–In cities of 5000 or much less $10 and $1 on every $one hundred ot gross premiums much less returns on cancellations acquired throughout previous year on insurance policies issued throughout stated year to residents of stated cities or cities. In cities of 5000-10,000, $15 and $1 per $one hundred as above. In cities of 10,000-50,000, $20 and $1 per hundred as above. In cities of over 50,000, $50 and $1 per $one hundred as above. Tax assertion to be filed with metropolis government on January 1, or inside sixty days thereafter yearly. Penalties.–For not making tax returns, $500, along with taxes; for not paying taxes inside 60 days, $500; for not following summo…
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