pany or association and the Examination aforesaid, and upon the oath of the President or principal officer, and secretary of the same, that all debts and liabilities of every kind are paid and extinguished, that are due or may become due upon any contract or agreement, made with any citizen of this state.

S9. Every violation of this act shall subject the party Penalties. violating to a penalty of five hundred dollars for each violation, which shall be sued for and recovered in the name of the people, by the District Attorney of the county in which the company or the Agent or agents so violating shall be situated, and one-half of the said penalty, when recovered, shall be paid into the Treasury of said county, and the other half to the informer of such violation; and in case of the non-payment of such penalty, the party so offending shall be liable to imprisonment for a period not exceeding six months, in the discretion of any court having cognizance thereof.

$10. So much of the act passed April tenth, one thou- Repeal. sand eight hundred and forty-nine, in relation to the incorporation of insurance companies, as is inconsistent with the provisions of this act, is hereby repealed.

Chap. 80.

AN ACT IN RESPECT TO INSURANCES FOR LIVES FOR THE BENEFIT OF MARRIED WOMEN; passed April 1, 1840, (with amendments to January 1st, 1862.)

The People of the State of New York, represented in Senate and Assembly, do enact as follows:—

S 1. It shall be lawful for any married woman, by herself, and in her name, or in the name of any third person, with his assent, as her trustee, to cause to be insured, for her sole use, the life of her husband for any definite period, or for the term of his natural life; and in case of her surviving her husband, the sum or net amount of the insurance becoming due and payable, by the terms of the insurance, shall be payable to her, to and for her own use, free from the claims of the representatives of the husband, or of any of his creditors but such exemption shall not apply where the amount of premium annually paid out of the funds or property of the husband shall exceed three hundred dollars. [§ 1, Chap. 80, Laws of 1840, as amended by § 1, Chap. 187, Laws of 1858.]

;

S2. In case of the death of the wife, before the decease of her husband, the amount of the insurance may be made. payable after her death to her children for their use, and to their guardian, if under age. [§ 2, Chap. 80, Laws of 1840, and § 2, Chap. 187, Laws of 1858.]

Chap. 469.

AN ACT TO AMEND THE GENERAL LAW RELATIVE TO THE INCORPORATION OF INSURANCE COMPANIES; passed June 29, 1853.

The People of the State of New York, represented in Senate and Assembly, do enact as follows: :

to be subject to taxa. tion.

1. Any Mutual Life Insurance Company in this Companies state, incorporated previously to the passage of the general Insurance Law, on the tenth day of April, eighteen hundred and forty-nine, shall be subject to taxation in the same manner as if it were incorporated under said general law, with a capital of one hundred thousand dollars as required by the sixth section of the said general law.

Chap. 83.

AN ACT TO DECLARE THE INTENTION AND MAKE
MORE CERTAIN AN ACT ENTITLED "AN ACT TO
AMEND THE GENERAL LAW RELATIVE TO THE
INCORPORATION OF INSURANCE COMPANIES, PASSED
JUNE TWENTY-NINTH,
FIFTY-THREE;" passed March 24, 1855, three-
fifths being present.

EIGHTEEN HUNDRED AND

The People of the State of New York, represented in Senate and Assembly, do enact as follows: —

Insurance

ted before

1849, sub

1. Any Mutual Life Insurance Company incorpo- Mutual Life rated in this state previous to the passage of the general Company Insurance Law, on the tenth day of April, eighteen incorpora hundred and forty-nine, shall be subject to taxation on April 10, the sum of one hundred thousand dollars for personal ject to taxaproperty and no more; and it is hereby declared that tion on persuch was the intention and it is the true construction of erty to the said act of June twenty-ninth, eighteen hundred and $100,000 fifty-three, in regard to any taxes imposed on said companies after said act took effect.

sonal prop

extent of

only.

INDEX.

A.

ACCUMULATIONS:-

May be invested in certain securities,.

Amount and nature of, to be reported in Annual Statement,

ACT:-

For the Incorporation of Life and Health Insurance Companies, and in

relation to agencies of such Companies, passed June 24th, 1853 (with
amendments and additions to January 1st, 1862),..

In relation to all Companies transacting the business of Life Insurance
within this State, passed April 8th, 1851, .

Repeal of, (sub modo),...

....

In respect to Insurance for Lives for the benefit of married women,
passed April 1, 1840 (with amendments to January 1, 1862),....
To Amend the General Law relative to the Incorporation of Insurance
Companies, passed June 29th, 1853,....

To Declare the Intention and make more certain an act entitled "An act
to Amend the General Law relative to the Incorporation of Insurance
Companies, passed June 29th, 1853," passed March 24, 1855,.

AGENTS:-

......

19, 20

Of Companies of other States, not to transact the business of Life Insu-
rance except in certain cases, and after having received Certificates of
Authority from the Superintendent of the Insurance Department, 17, 18, 19
Of Foreign Companies, regulations concerning,
Duty of, to facilitate Examination of Company made, or caused to be
made, by the Superintendent of the Insurance Department,...
Of Companies not incorporated by the laws of this State, required to
discontinue the issuing of new policies in certain cases; publica-
tion by Superintendent of the Insurance Department of Notifica-
tion that their Certificates of Authority are revoked,

AMENDMENT:-

Of Charter, in conformity with Chap. 328, Laws of 1860, may be made,.
Of Charter, may be made by Companies so as to avail themselves of
the provisions of the Act of 1853,..

Of General Law, relative to the incorporation of Insurance Companies,
passed June 29, 1853,.

21

22

22

14

24

31