Εικόνες σελίδας
PDF
Ηλεκτρ. έκδοση

other provisions for the benefit of such infant as shall be deemed proper by any of the officers or trustees of said society or association, and which shall be agreed to by such person receiving such infant.

§ 5. Should such employer fail at any time to provide suitable and Failure of proper board, lodging and medical attendance, or shall fail to per- to provide form any of the provisions of said indenture on his part, said apprentice, individually, or any person on his behalf, may bring an action against said employer to recover damages sustained by reason of such failure; and if proved to the satisfaction of the court and the court shall deem it a proper case, the court shall direct said indentures to be canceled, and may impose a judgment upon such employer not exceeding one thousand dollars and not less than one hundred dollars, and said judgment shall be collected and paid over to said society or association, which formerly had the custody of such child, to be used for the benefit of such minor in such manner as the trustees thereof shall direct.

§ 6. This act shall take effect immediately.

CHAP 580.

AN ACT to amend an act and the title of an act, entitled "An

act to repeal chapter four hundred and forty of the laws of eighteen hundred and seventy-three, entitled An act requiring commissioners of highways to act as inspectors of plankroads and turnpikes, so far as the same relates to the counties of Clinton, Chenango, Seneca, Queens, Orange, Essex, Cayuga, Madison and Steuben,»'» passed April twenty-one, one thousand eight hundred and seventy-four.

PASSED June 7, 1875; three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows : SECTION 1. The title of chapter two hundred and twenty-four of the Amending

Laws 1874, laws of eighteen hundred and seventy-four, entitled “ An act to repeal ch. 24. chapter four hundred and forty of the laws of eighteen hundred and seventy-three, entitled . An act requiring commissioners of highways to act as inspectors of plank-roads and tnrnpikes,' so far as the same relates to the counties of Clinton, Chenango, Seneca, Queens, Orange Essex, Cayuga, Madison and Steuben,'” is hereby amended so as to read as follows: An act to repeal chapter four hundred and forty of the laws of eighteen hundred and seventy-three, entitled “ An act requiring commissioners of highways to act as inspectors of plank-roads and turnpikes,” so far as the same relates to the counties of Clinton, Cheoango, Seneca, Queens, Orange, Essex, Cayuga, Madison, Steuben and Montgomery.

$ 2. Chapter four hundred and forty of the laws of eighteen hundred Ante, vol. and seventy-three, entitled “ An act requiring commissioners of highways to act as inspectors of plank-roads and turnpikes," passed May eighth, eighteen hundred and seventy-three, is hereby repealed so far as the same relates to the counties of Clinton, Chenango, Seneca, Queens, Orange, Essex, Cayuga, Madison, Steuben and Montgomery.

"

83. This act shall take effect immediately.
See L. 1877, ch. 164, post, p. 388, and L. 1876, ch 416, post, p. 332.

9, p. 612.

apportionment.

CHAP 542. AN ACT to provide for the apportionment of rents, annuities, dividends and other payments.

PASSED June 7, 1875. The People of the State of New York, represented in Senate and

Assembly, do enact as follows : Rule of SECTION 1. All rents reserved on any lease granted after the pass

ing of this act, and all annuities, dividends and other payments of every description, made payable or becoming due at fixed periods under any instrument executed after the passing of this act, or (being a last will and testament) that shall take effect after the passing of this act, shall be apportioned, so that on the death of any person interested in any such rents, annuities, dividends or other payments as aforesaid, or in the estate or fund from or in respect of which the same shall issue or be derived, or on the determination by any other means whatever of the interest of any such person, he or she, and his or her executors, administrators or assigns shall be entitled to a proportion of such rents, annuities, dividends and other payments, according to the time which shall have elapsed from the commencement or last period of payment thereof respectively (as the case may be), including the day of the death of such person, or of the determination of his or her interest, all just allowances and deductions on account of charges on such rents, annuities, dividends and other payments being made.

§ 2. Every such person, his or her executors, administrators and

assigns shall have the same remedies at law and in equity for recoverapportion- ing such apportioned parts of the said rents, annuities, dividends and

other payments when the entire amount, of which such apportioned parts shall form part, shall become due and payable and not before, as he or she or they would have had for recovering and obtaining such entire rents, annuities, dividends and other payments, if entitled thereto; but so that the persons liable to pay rents reserved by any lease or demise, and the lands, tenements and hereditaments comprised therein, shall not be resorted to for such apportioned parts as aforesaid, but the entire rents, of which such apportioned parts form parts, shall be collected and recovered by the person or persons, who, if this act had not passed, would have been entitled to such entire rents; and such portions shall be recoverable from such person or persons by the parties entitled to the same under this act in any

action or suit at law or in equity. When act § 3 This act shall not apply to any case in which it shall be shall not expressly stipulated that no apportionment shall be made, or to any .

sums made payable in policies of insurance of any description.

This act applies only to instruments executed or taking effect after its passage. Irving v. Rankine, 13 Hun, 147.

Remedies for recovering

ments.

1 7:30,

CHAP 545.

. AN ACT to amend section sixty-seven of article two, chapter

one, part two, title two of the Revised Statutes, in relation to trusts.

PASSED June 7, 1875. The People of the State of New York, represented in Senate and Assembiy, do enact as follows :

SECTION 1. Section sixty seven of article two, chapter one, part two, Amending title two of the Revised Statutes, is hereby amended so as to read as i Edm. 880: follows:

67. When the purposes for which an express trust shall have When been created shall have ceased, the estate of the trustees shall also estate of cease. And where an estate has been conveyed to trustees for the cease. benefit of creditors, and no different limitation is contained in the instrument creating the trust, such trust shall be deemed discharged at the end of twenty-five years from the creation of the same; and the estate conveyed to trustee or trustees and not granted or conveyed by him or them shall revert to the grantor or grantors, his or their heirs or devisees, or persons claiming under them, to the same effect as though such trust had not been created.

20 Hun, 388.

CHAP 555.

Amending

ch. 466, 4 Edm. 226

AN ACT to amend chapter four hundred and sixty-six of the Fire inlaws of eighteen hundred and fifty-three, entitled “An act compan

ies. to provide for the incorporation of fire insurance companies."

PASSED June 9, 1875.* The People of the State of New York, represented in Senate and Assembly, do enact as follows :

SECTION 1. The twenty-third section of the said act is hereby Laws 1853, amended so as to read as follows: $ 23. It shall not be lawful for

any
fire insurance company, associa-

When for tion, or partnership, incorporated by or organized under the laws of eign comany other State of the United States, or any foreign government, take risk. directly or indirectly, to take risks or transact any business of insurance in this State, unless possessed of the amount of actual capital required of similar companies formed under the provisions of this act; and any such company desiring to transact any such business, as afore. To appoint said, by an agent or agents in this State, shall first appoint an attorney attorney. in this State on whom process of law can be served, and file in the office of the Superintendent of the Insurance Department a certified copy of the vote or resolution of the directors appointing such attorney, which appointment shall continue until another attorney be substituted ; in case any such insurance company shall cease to transact business in this State, according to the laws thereof, the agents last

pany may

*Certified by the Presiding officer of the Senate, as having passed the Senate *three-fifths being present.'

To file charter and statement.

designated or acting as such for such corporation, shall be deemed to continue agents for such corporation for the purpose of serving process for commencing actions upon any policy or liability issued or contracted while such corporation transacted business in this State, and service of such process for the causes aforesaid upon any such agent, shall be deemed a valid personal service upon such corporation ; and also a certified copy of their charter or deed of settlement, together with a statement, under the oath of the president or vice-president, and other chief officer and secretary of the company for which he or they may act, stating the name of the company and place where located, the amount of its capital, with a detailed statement of its assets, showing the amount of cash on hand, in bank, or in the hands of agents ; the amount of real estate, and how much the same is incumbered by mortgage; the number of shares of stock of every kind owned by the company,

the

par and market value of the same; amount loaned on bond and mortgage; the amount loaned on other security, stating the kind, and the amount loaned on each, and the estimated value of the whole amount of such securities; any other assets or property of the company; also stating the indebtedness of the company; the amount of losses adjusted and unpaid, the amount incurred and in process of adjustment, the amount resisted by the company as illegal and fraudulent, and any other claims existing against the company; also a copy of the last annual report, if any, made

under any law of the State by which such company was incorporated; Where and no agent shall be allowed to transact business for any company (nor capital is impaired.

shall any agent or broker be allowed to negotiate for or place any risk

with any company whose capital is impaired to the extent of twenty Deposit of per cent thereof, while such deficiency shall continue; and any company

incorporated by or organized under any foreign government, shall, in addition to the foregoing, deposit with the Superintendent of the Insurance Department, for the benefit and security of policy-holders residing in the United States, a sum not less than two hundred thousand dollars in stock of the United States or the State of New York, in all cases to be, or to be made to be, equal to a stock producing six per cent per annum, said stocks not to be received by said Superintendent at a rate above their par value, or above their current market value; or in bonds and mortgages on improved unincumbered real estate in the State of New York, worth fifty per cent more than the amount loaned thereon; or in such stocks and securities as now are or which

may hereafter be receivable by the bank department as security for Securities circulating notes. The stocks and securities so deposited may be changed.

exchanged from time to time for other securities, receivable as aforesaid, and so long as the company so depositing shall continue solvent and comply with the laws of this State, may be permitted by the said Superintendent to collect the interest or dividends on said deposit. The said deposit shall be in lieu of the investments in the name of trustees, as heretofore required, and upon its being duly made, either by the transfer of the trust funds, or otherwise, the trustees shall thereby be discharged from all liability; and where a deposit is made of bonds and mortgages, accompanied by full abstracts of title and searches, the fees for an examination of title by counsel to be paid by the party making the deposit shall not exceed twenty dollars for each mortgage;

and the fees for an appraisal of property shall be five dollars to each To obtain appraiser, not exceeding two, besides expenses for each mortgage. Nor oortiicate. shall it be lawful for any agent or agents to act for any company. or

companies referred to in this section, directly or indirectly, in taking

security.

may be

certificate.

a

a

risks or transacting the business of fire or inland navigation insurance in this State, without procuring from the Superintendent of the Insurance Department a certificate of authority stating that such company has complied with all the requisitions of this act which apply to such companies, and the name of the attorney appointed to act for the company. A certified copy of such certificate of authority, with To dle statement, must be filed by the agent in the office of the clerk of every county where such company has agents, and shall be published in the paper in which the State notices are required to be inserted, four successive times after the filing of such statement, as aforesaid ; and within thirty days thereafter proof of such publication, by the affidavit of the publisher of such newspaper, his foreman or clerk, shall be filed in the office of the said Superintendent. The statements and evidences of investments required by this section shall be renewed from year to year in such manner and form as may be required by said Superiniendent, with an additional statement of the amount of premiums received and losses incurred in this State during the preceding year, so long as such agency continues; and the said Superintendent, on Renewal being satisfied that the capital, securities and investments remain cartis.secure, as herein before provided, shall furnish a renewal of his certificate, as aforesaid, and the agent or agents obtaining such certificate, shall file a certified copy of the same in the office of the clerk of the county in which such agency shall be established, within the month of January. But any company organized under or incorporated by any foreign government may furnish and file such annual statements and evidences in the month of January, in each year, made out for the year ending on the preceding thirtieth day of June, if accompanied, also, by an annual supplementary statement, duly verified by the attorney or general agent of the company in this State, showing the amount of risks written, premiums received, losses sustained, and taxes paid in this State for the year ending on the preceding thirtyfirst day of December; said supplementary statement shall also contain a description of the investments of such company in this country, and such other information as may be required by the said Superintendent. (Whenever, by the provisions of this section, it shall be unlaw- Brokers ful for any fire insurance company, association, or partnership herein platetom

place risks specitied, to take risks or transact the business of fire insurance within this State, through agents, or otherwise, it shall be likewise unlawful for any broker or brokers, or other persons acting for persons, firms or corporations, in this State or elsewhere, to negotiate for or place risks in any such insurance company, or in any way or manner aid such persons, firms or corporations in effecting such unauthorized insurances.) Any violation of any of the provisions of this section shall Penalty. subject the party violating to a penalty of five hundred dollars for each violation, and of the additional sum of one hundred dollars for each month during which any such agent shall neglect to make such publication, or to file such affidavits and statements as are herein required. Every agent of any fire insurance company shall, in all advertisements Place of of such agency, publish the location of the company, giving the name of the city, town or village in which the company is located, and the State or government under the laws of which it is organized. The term agent, or agents, used in this section, shall include an acknowledged agent or surveyor, or any other person or persons who shall, in any manner, aid in transacting the insurance business of any insurance company not incorporated by the laws of this State and the term broker or brokers, also used in this section, is hereby declared to

business,

« ΠροηγούμενηΣυνέχεια »