« AnteriorContinuar »
Sec. 5. The seal of the said insurance department shall be a circular disc with the word "Superintendent” in the center, surrounded by the words "Insurance Department of New Mexico," an impression of which shall be filed in the office of the secretary of the territory. Every certificate or other paper executed by said superintendent in pursuance of any authority conferred on him by law, and sealed with his seal of office, and all copies of papers certified by said superintendent and authenticated by said seal, shall in all cases be evidence equally and in like manner as the original thereof and shall have the same force and effect as the originals would in any suit or proceedings in any court of this territory.
Sec. 6. The said superintendent shall have an office at the territorial capitol and may employ persons to make personal examination of the condition and affairs of insurance companies, when necessary, as required by law; and, whenever he may think necessary, he shall call upon the solicitor general of the territory for legal counsel and such assistance as may be necessary to enforce the provisions of this act.
Sec. 7. All books and documents and all other papers whatsoever relating to insurance, in the offices of any of the officers of the territory shall, on demand, be delivered and transferred to the superintendent of insurance, who shall give a receipt for the same, which shall be a full release from all responsibility in connection with such documents, books and papers.
Sec. 8. It shall be the duty of the superintendent of insurance to file in his office and safely keep all books and papers required by law to be filed therein, and to keep and preserve in permanent form a full record of his proceedings, including a concise statement of the condition of such insurance companies reported and examined by him, to issue certificates of authority to transact insurance business to any insurance companies which have fully complied with the laws of this territory, and to issue such other certificates as required by law in the organization of insurance companies and the transaction of the business of insurance and generally to do and to perform with justice and impartiality all such duties as are or may be imposed on him by the laws in relation to the business of insurance in this territory; and he shall, annually, at the earliest practical date after the returns are received from the several companies, make a report to the governor of the affairs of the insurance department, which report shall contain a tabular statement and synopsis of the several statements as accepted by the superintendent, and such other matters as in his opinion may be of benefit to the public, and shall make such recommendations as he may deem proper in regard to the subject of insurance in this territory, and shall set forth in a statement, verified by oath and the certificate of the territorial auditor, the sums received and disbursed by him, from and to whom, and for what purpose. The superintendent of insurance shall, within ninety (90) days after entering upon the discharge of the duties of the office, furnish to all insurance companies doing business in this territory, a copy of this act, and necessary blanks to comply therewith, and shall annually, in December, furnish such blanks for the filing of statements as required by law. The superintendent on retiring from office shall deliver to his qualified successor, all furniture, papers and property pertaining to his office.
Sec. 9. The superintendent may, with the consent of the governor, whenever he deems it prudent, visit, and examine or cause to be visited and examined by some competent person, or persons he may appoint for that purpose, any insurance company applying for admission or already admitted to do business by agencies in this territory. Such examination shall include a thorough inspection and examination into its affairs, especially as to the financial condition and ability of said company to fulfill its obligations to the policy holders, and whether it has complied with the laws of this territory, and such company shall pay the proper charges incurred in such examination, including the expenses of the commissioner, or his deputies, and the expenses and compensation of his assistents employed therein. The superintendent may also make an examination, with the consent of the governor of any such company, upon the request of five (5) or more of the stockholders, creditors, policy holders, or persons pecuniarily interested therein, who shall make affidavit of their belief, with specifications of their reasons therefor in writing, that such company is in unsound or insolvent condition: Provided, That only the United States branches of all foreign companies in this territory may be examined by said superintendent. For the purpose aforesaid, the commissioner or his deputy or person making the examination, shall have free access to all books and papers of any insurance company that relate to its business, and the books and papers kept by any of its agents, and may summon and administer oaths or affirmations to witnesses, and examine the directors, officer, agents and trustees
in relation to its affairs, transactions and conditions. He may require and compel the production of records, books, papers, contracts or other documents by attachment, if necessary; and shall have the right to punish for contempt by a fine or imprisonment, or both, any person failing or refusing to obey such summons or order of such superintendent. Any person testifying falsely in reference to any matter, material to said investigation, examination or inquiry, shall be deemed guilty of perjury; and, in addition to the punishment for contempt in refusing to attend, or answer, or produce books and papers, any person who shall refuse to give such superintendent full and truthful information and answer in writing to any inquiry or question made in writing by said superintendent, in regard to the business or insurance carried on by such person, or to appear and testify under oath before the superintendent in regard to same, shall be deemed guilty of a misdemeanor, and, upon conviction thereof, shall be punished by a fine not exceeding five hundred ($500.00) dollars, or imprisonment not exceeding three (3) months.
Any director, officer, manager, agent or employe of an insurance company, or any other person, who shall make any false certificate entry or memorandum upon any of the books or papers of any insurance company, or upon any statement or exhibit filed or offered to be filed in the insurance department of this territory, or used in the course of any examination, inquiry or investigation, with the intent to deceive the superintendent of insurance, or any other person employed or appointed by him to make any inquiry, examination, or investigation, shall, upon conviction, be punished by a fine not exceeding one thousand ($1,000.00) dollars and by imprisonment for not less than two (2) months in the county jail, nor more than five (5) years in the penitentiary: Provided, That any company whose license has been revoked by said superintendent, may appeal from said order to the district court, which court, upon the filing of the proper petition, shall cause the record and orders of the superintendent to be brought before it, and upon a hearing of the case by the court de novo, the court shall either confirm or revoke the order of said superintendent as in its discretion may appear justo
Sec. 10. When the superintendent deems it to the interest of the public he may publish the result of any examination or investigation in any newspaper of general circulation in the territory. When it appears to the superintendent of insurance from the report of the person appointed by him or other satisfactory evidence, that the affairs of any company doing business in the territory are in an unsound condition, he shall revoke the authority granted to such company to do business in this territory and give such company and the agents thereof written notice of such action and after such notice it shall be unlawful for such company or any agent thereof to procure any applications for insurance or to issue or renew any policies.
Sec. 11. There shall be paid by every insurance company doing business in this territory, to the superintendent of insurance the following fees, viz: For filing the certified copy of articles of incorporation required by this act of the organization of each com pany $50; for filing power of attorney and statement preliminary to admission, $50; for filing copy of its charter or deed of settlement and examination thereof, $50; for filing annual statement, $20; for certificate of authority to transact business in this territory, $2; for each copy of certificate of authority for use of agents, $2; for each copy of any paper filed in his office, per folio 20 cents; for affixing the seal of his office and certifying any paper, $1. All insurance companies, partnerships or associations engaged in the transaction of the business of insurance in this territory, shall annually on or before the first day of February, in each year, pay to the superintendent of insurance, 2 per cent. on the gross amount of premiums received or written within this territory during the year ending the previous 31st day of December; and insurance companies shall be subject to no other taxation than herein provided except upon real estate..
Sec. 12. All moneys received by the superintendent of insurance shall be paid in to the territorial treasury for an insurance fund within thirty days after the receipt of the same, and shall be used for the purpose of defraying the expenses of the insurance department. The territorial treasurer shall give duplicate receipts for all moneys thus paid into the territorial treasury, one of which shall be delivered to the territorial auditor and the other filed in the office of the superintendent of insurance. All expenses of the insurance department including salaries, shall be paid by the territorial treasurer out of the moneys in his hands to be known as the “Insurance Fund,” on warrants drawn on such fund by the superintendent of insurance and approved by the territorial auditor: Provided, That the expense of said insurance department, exclusive of salaries shall in no event exceed the sum of twelve hundred dollars per annum; but no moneys shall be paid out of the territorial treasury in excess of the amount collected from insurance companies, as provided by this act. For all payments made by him the superintendent of insurance shall take proper voucher. The accounts of said superintendent of insurance for all receipts and disbursements by him made shall be audited, adjusted and settled at the close of each year by the territorial auditor.
Sec. 13. The superintendent of insurance shall at least once in every thirty days turn over to the territorial treasurer all moneys collected by the insurance department of the Territory of New Mexico, and the said treasurer shall apply all of said funds excepting such part thereof as may be necessary for the expenses of said insurance department, to the fund known as the fund for territorial purposes, to be thereupon and immediately used for the redemption of outstanding warrants and such other purposes as such fund is applied : Provided, That the treasurer shall annually on the first day of August of each year, pay to the treasurer of the fire departments of every city, town or village in this territory a sum of money equal to the amount received by such fire department under Section 2132 of the Compiled Laws of 1897 during the year 1904.
Sec. 14. No insurance company organized under the laws of this territory shall adopt the name of any existing company or association transacting a similar, business or any name so similar as to be calculated to mislead the public.
Sec. 15. It shall be unlawful for any person, company or corporation in this territory either to procure, receive or forward applications for insurance in or to issue or to deliver policies for any company or companies not having complied with the provisions of this act, or to adjust any loss, or in any manner, either directly or indirectly to aid in the transaction of the business of insurance with any such company, unless duly authorized by such company and licensed by the superintendent of insurance, in conformity with the provisions of this act, and any person violating the provisions of this section shall be deemed guilty of a misdemeanor, and, upon conviction thereof, shall for each and every offense, be punished by a fine of five hundred ($500.00) dollars or imprisonment for six (6) months in the county jail, or both, in the discretion of the court.
Sec. 16. No company shall transact in this territory any insurance business, unless it shall procure from the superintendent of insurance a certificate stating that the requirements of the laws of this territory have been complied with, and authorizing it to do business. Said certificate shall expire on the last day of February in each year, and must be renewed annually. Every such company shall be required to procure, annually, for the use of its agents and solicitors, copies of such certificate of authority, and any person so