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cases.

treasurers to

Marshal to 8 6. The commanding officer of each regiment is authorised to be appointed

appoint under his hand and seal, a marshal who may not only perform the usual duties of such marshals, but may also execute all process lawfully issued by such officer, and perform all acts and duties imposed on and authorised to be performed by any sheriff, marshal or constable, by chapter ten, title ten, part first

, of the revised statutes, (third edition,) or by the act passed May 13th, 1847, and hereby amended; and such marshal shall be entitled to be paid out of the military commutation fund, belonging to the regiment for which he shall act, the sum of two dollars for each day actually spent by him in attending upon the officer while sitting to hear appeals, and for all other services rendered by

him, the same compensation as is allowed to constables in like Ponaity for

8 7. Every collector or receiver of taxes of any town or ward, neglect. and every constable, marshal or sheriff, and every commissioned

officer, who shall refuse or neglect to pay over to the county treasurer of the county in which he shall reside, any military fines or commutation received by him, shall be deemed guilty of a misdemeanor.

$ 8. Section eighty-five, of the said act, passed May 13, 1847,

is hereby amended so that it shall read as follows: County $ 85. All county treasurers shall report to the adjutant general report to ad- of this state, on or before the fifteenth day of December in each jutant gener- year, the amount of all moneys received by them respectively, moneys. for fines and commutation, specifying in such report the amount

received from the collector of each town or ward for commutation, and the amount received for fines, the dates when received, and the amount expended and for what, distinguishing in such report between the amounts paid for the performance of military duty, and the amounts paid for enrolling, and other contingent

expenses. Persons lia- $ 9. All persons liable to military duty, may pay to the colble to do mil- lector or receiver of taxes of the town or ward in which they itary duty may com shall reside, the commutation of seventy-five cents, at any time mute by pay: between the first day of April and the first day of August

, in and the said collector or receiver shall keep an accurate account of the names of all those who shall pay him previous to the receipt of the lists required to be furnished him by the commanding officer of each company district, and shall note such names upon said lists, and if any shall have paid whose names are not upon such lists, he shall add them thereto, and return them to the county treasurer and commandant of the company district

, pursuant to the provisions of section sixty-three, of the act hereby amended, and all persons enrolled may be notified thereof at any

time previous to the annual parade or encampment. Amendment. $ 10. Section sixty-five, of the said act passed May 13, 1847,

is hereby amended by striking out the words “first day of June." and inserting in lieu thereof the words “ fifteenth day of July."

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each year,

ry and artil lery.

§ 11. If the commander-in-chief shall deem that the location Armories. of any regimental armory as made by the brigadier general, is not the most suitable place for the convenience of the regiment, he is hereby authorised and empowered to locate the same at such place as he shall deem proper.

$ 12. The officers, non-commissioned officers, musicians and Pay of cavalprivates of any cavalry or artillery company, shall receive one dollar per day for each horse actually used by them at any annual parade or encampment. § 13. The provisions of section seventy-five, of title ten, of Provisions of

R. S., 3d edichapter ten, of part first of the revised statutes, (third edition,) tion. are hereby extended to all the officers, non-commissioned officers, musicians and privates of uniformed militia throughout the state.

$ 14. All acts inconsistent herewith are hereby repealed.

$ 15. Section nineteen of the said act passed May 13, 1847, is Repeal. hereby amended by striking out the word “eight” therein, and inserting in lieu thereof the word “sis,” and by striking out the words "other than flank companies.”

$ 16. The "act in relation to the militia," passed May 13, 1846, Repeal. is hereby repealed.

§ 17. This act shall not apply to the First Military Division Exception. District.

$ 18. Section ninety-six of the said act, is hereby amended by Amendment. striking out the word "colonel” therein, and inserting the words “ Brigadier General” in lieu thereof.

819 This act shall take effect immediately.

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AN ACT to provide for the incorporation of Insurance Com

panies.

Passed April 10, 1849. The People of the State of New York, represented in Senate and Assembly, do enact as follows: $ 1. Any number of persons not less than thirteen in number Formation of

companios. may associate and form an incorporated company for either of the following purposes, to wit:

1. To make insurance upon vessels, freights, goods, wares, mer-yTo make inchandise, specie, bullion, jewels, profits, commissions, bank notes, surance on bills of exchange and other evidences of debt, bottomry and respondentia interests, and to make all and every insurance appertaining to or connected with marine risks and risks of transportation and navigation.

2. To make insurance on dwellings, houses, stores, and all on dwelling kinds of buildings, and upon household furniture, merchandise stores, &e. and other property, against loss or damage by fire and the risks of inland navigation and transportation.

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vessels, &c.

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Upon health

3. To make insurance upon the health onlives of individuals or lives.

and every insurance appertaining thereto or connected with health

or life risks, and to grant, purchase or dispose of annuities. Power to re- $ 2. Any company organized under this act shall have power insnre in cer to make re-insurance of any risks taken by them respectively,

and may make insurance upon any or all of the risks mentioned in the first or second subdivisions of the first section. But no company making insurance on the health or lives of individuals shall be permitted to take any other kind of risks, nor shall the business of life insurance and of health insurance be in any wise connected or united in any company making insurance on marine

or fire risks. Corporator 8

8 3. Such persons shall file in the office of the secretary of to file decla state a declaration, signed by all the corporators, expressing their ration in sec* retary's of- intention to form a company for the purpose of transacting the

business of insurance as expressed in the several subdivisions of the first section of this act, which declaration shall also comprise a copy of the charter proposed to be adopted by them, and shall publish a notice of such their intention, once in each week for at least six weeks in a public newspaper in the county in which such

insurance company is proposed to be located. Book of sub- $ 4. It may and shall be lawful for the individuals associated scription ton for the purpose of organizing any company under this act, after opened. having published the notice and filed their declaration and chart

er as required by the preceding section, to open books for subscription to the capital stock of the company so intended to be organized, and to keep the same open until the full amount specified in the charter is subscribed ; or, in case the business of such company is proposed to be conducted on the plan of mutual insurance then to open books to receive propositions, and enter into agreements in the manner and to the extent hereinafter specified.

$ 5. No joint stock company organised for the purposes menital stock in tioned in this act, shall be organized in the city and county of New New York York, nor in the county of Kings, with a smaller capital than one

.

hundred and fifty thousand dollars; nor in any other county in this state with a smaller capital than fifty thousand dollars : nor shall any company formed for the purpose of doing the business of marine, or fire, or inland navigation insurance, on the plan of mutual insurance, commence business, if located in the city of New York or in the county of Kings, until agreements have been entered into for insurance with at least one hundred applicants; the premiums on which, if it be marine, shall amount to three hundred thousand dollars, or if it be fire or inland navigation, shall amount to two hundred thousand dollars, and notes have been received in advance for the premiums on such risks payable at the end of, or within twelve months from date thereof, which notes shall be considered a part of the capital stock, and shall be deemed valid, and shall be negotiable and collectable for the purpose of paying any losses which may accrue or otherwise, nor shall any mutual insurance company in any other county in the

Provision re

cap

state commence business until agreements have been entered into for insurance, the premiums on which shall amount to one hundred thousand dollars, and the notes received therefor, payable as aforesaid, and which notes shall be liable for and used as aforesaid, nor shall any company which may be organized under this act expose itself to any loss on any one fire or inland navigation risk, or hazard to an amount exceeding ten per cent. of its capital.

8 6. No company formed for doing the business of life or Life or health insurance on the plan of mutual insurance, shall commence ance when

health insurbusiness until a cash capital of one hundred thousand dollars shall to be com.

menced. have been paid in and actually invested either in the stocks of the incorporated cities of this state, the stocks of this state, or of the United States, or in bonds and mortgages on cultivated farms worth double the amount for which the same is mortgaged; the value of the land to be appraised by three disinterested commissioners, appointed by the first judge of the county where such company is to be located. Farm buildings to form no part of the valuation.

8 7. It shall not be lawful for any company organized under Provision this act, to transact business unless possessed of capital or securi- respecting ties as hereinbefore mentioned; nor sball it be lawful for any

incorporated

by other agent or agents of insurance companies incorporated by other states. states, directly or indirectly to take risks, or transact any business of insurance in this state, without procuring a certificate of authority from the comptroller of this state, and such agent or agents, having procured a statement under the oath of the president or secretary of the company for which he or they may act, which statement shall show the amount of the capital of such company, the manner in which the same is invested, and shall also state the fact whether its capital is impaired, and if so, how much ; such statement shall be filed in the office of the county clerk of the county where such agent resides, and shall be published in at least one newspaper, if a newspaper be therein published, at least six successive weeks after the filing of such statement as aforesaid ; the first statement shall be filed in the month of January next, and such statement shall be procured annually, and filed and published in each and every succeeding month of January thereafter, as long as such agency continues, and no company incorporated by other states shall transact business in this state unless possessed of the amount of actual capital required of companies formed under the provisions of this act, and no agency of any life insurance company formed under the laws of other states shall transact its business in this state, unless it shall first prove to the satisfaction of the comptroller, of which fact he shall give a certificate to be filed in the office of the clerk of the county where such agency is established, that it possesses such an amount

Respecting of actual capital as is required of companies transacting the bu- companies siness of life insurance under the laws of this state. Nor shall

formed by

foreign govit be lawful for any agent or agents, hereafter to be appointed, of ernments any company inccrporated by any foreign government, other than the states of the states of this Union, for the purpose of insurance, to transact the business of insurance in this state, without procuring a certificate of authority from the comptroller; such agent or agents having previously furnished evidence to the satisfaction of the comptroller of the state, that such company has invested in the stocks of this state, or the United States, an amount equal to the amount of capital or security required by this act, and such stocks are held in trust by citizens of this state for the benefit and security of such as may affect insurance with him or them. And the agent or agents furnishing satisfactory evidence as aforesaid, shall be entitled to a certificate thereof from the comptroller aforesaid. The statements and evidences of investments required by this section, shall be renewed from year to year, in the month of January in each year, and the comptroller, on being satisfied that the capital securities and investments remain secure as at first, shall furnish a renewal of certificates as aforesaid ; and the agent or agents obtaining such certificates shall file the same, together with a copy of the statements on which it was obtained or renewed, in the office of the clerk of the county in which such agency shall be established, and shall cause the same to be published in at least one newspaper published in such county. Any violation of the provisions of this section shall subject the party 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 agent or company so violating shall be situated, and the said penalty when recovered shall be paid into the treasury of said county, provided that all companies incorporated by any government other than the states of this Union, which may have appointed such agent or agents before the first day of March, one thousand eight hundred and forty-eight, may hereafter appoint a new agent

the Union.

or agents in the case of the death, resignation or removal of an Meaning of agent or agents previously appointed. The term agent or agents the term a- used in this section shall include an acknowledged agent or surgent.

veyor, or any other person or persons who shall in any manner aid in transacting the insurance business of an insurance company

not incorporated by the laws of this state. Capital or 8 8. It shall be lawful for any company organized under this invested. act, to invest its capital or the funds accumulated by its business

or any part thereof in bonds and mortgages on unincumbered real estate within the state of New York, worth fifty per cent more than the sum loaned thereon, and also in the stocks of this state or of the United States, and also in any or all stocks or bonds of either of the incorporated cities of this state, and which stocks or bonds shall be at or above par at the time of such investment, and to lend the same or any part thereof, on the security of such stock or bonds, and any company organized for the purpose of marine insurance, may, in addition to the foregoing, loan their funds on bottomry and respondentia and change and re-invest the same, as occasion may from time to time require.

funds how

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