Gambar halaman


The following sections of the Political Code, which were repealed by Act of the Legislature approved March 8, 1907, are placed herein for the reason that they are preserved and kept in full force and effect in certain cases provided for in the following provision of the law repealing said sections:

SEC. 2. All of the provisions of this Act shall be so construed as to preserve and keep in full force and effect all causes of action and actions for penalties, assessments and fines which have already accrued against any insurance company under and by virtue of any of the provisions of Article XVI, Chapter III, Part III, Title I, of the Political Code, which is repealed by virtue of the provisions of this Act, and all of such actions and causes of action may be prosecuted to final judgment, and all such penalties, assessments and fines may be enforced and collected under the provisions of said article to the same extent and in the same manner as though said Article XVI had not been repealed.


SEC. 594.



595. General duties of.







Business of insurance not to be transacted without his certificate.

To examine affairs of companies, when.

Fines imposed if companies refuse.

May issue subpoenas.

Proceedings on insolvency of companies.

Proceedings on failure to make up capital.

602. What constitutes insolvency.

603. Must keep a record.

[blocks in formation]





Assessments for deficiency in salary and expenses.
Certain certificates to be filed in his office.

May determine name of new corporation.

SEC. 610. Statements to be made by insurance companies. 611. Statements, contents, publication, and filing.

612. Showing to be made in.

612a. Liability of casualty insurance companies and loss








Statement by life, health, and accident companies.

Stock notes, how computed.

To furnish blanks.

Agent upon whom process may be served.

Penalty for failure to make statement.
Securities deposited by companies.

619. Deposits, receipts for.

620. Deposits returned, when.



Examination of securities, deficiencies.
Retaliatory clause.

622a. Taxation of insurance companies.
623. Bonds to be filed.


To furnish Assessor with certain information.

Statement to be based on gold coin values.
Salary of Commissioner.







Salary of deputy.

[blocks in formation]



Conditions precedent to license of agent.

Registry of policies, deposits for security of.

§ 594. No person is eligible to the office of Insurance Commissioner or deputy, who is an officer, agent, or employé of an insurance company.

§ 595. The Insurance Commissioner must receive all bonds and securities of persons engaged in the transaction of insurance business in this State, and file and safely keep the same in his office, or deposit them as provided in this article. He must examine and inspect the financial condition of all persons engaged or who desire to engage in the business of insurance; issue a certificate of authority to transact insurance business in this State to any persons in a solvent condition who have fully complied with the laws of this State and are in nowise in arrears to the State or to any county or city of the State for fees, licenses, taxes, or penalties accrued upon business previously transacted in the State; determine the sufficiency and

validity of all bonds and other securities required to be given by persons engaged, or to be engaged, in insurance business, and cause the same to be renewed in case of the insufficiency or invalidity thereof; and perform all other duties imposed upon him by the laws regulating the business of insurance in this State, and enforce the execution of such laws; prepare and furnish on demand, to all persons engaged in the insurance business, blank forms for such statements or reports as may by law be required of them; make, on or before the first day of August in each year, a report to the Governor of this State, containing a tabular statement and synopsis of the reports which have been filed in his office, showing, generally, the condition of the insurance business and interests in this State, and other matters concerning insurance, and a detailed statement, verified by oath, of the moneys and fees of office received by him, and for what purpose; and whenever any insurance company doing business in this State shall voluntarily surrender to the Insurance Commissioner its certificate of authority previously granted, thereby withdrawing from business in this State, the Commissioner must make due publication of such surrender and withdrawal, daily for the period of one week, in each of two daily newspapers, the one published in the City of San Francisco, and the other in the City of Sacramento. It is further enacted, That if any action hereafter commenced in any District Court of this State, by a citizen thereof against a foreign corporation or company doing insurance business in this State, such corporation or company shall transfer, or cause to be transferred, such action to the United States Circuit Court, the right of such corporation or compary to transact insurance business in this State shall thereupon and thereby cease and determine; and the Insurance Commissioner shall immediately revoke the certificate of such corporation or company authorizing it to do business in this State, and publish such revocation, daily, for the period of two weeks, in each of some two daily newspapers, the one published in the City of San Francisco, and the other in the City of Sacramento. [Amendment in effect April 1, 1878.]

128 Cal. 539.

§ 596. No person or company must transact insurance business in this State without first procuring from the Insurance Commissioner a certificate of authority, as in this chapter provided; and all policies issued or renewed, and all insurances taken before obtaining such certificate of authority, are null and void; and any person who as agent or pretended agent of any insurance company, or other person, shall, without the possession of such certificate of authority, solicit, issue, or procure to be issued in this State any policy of insurance, shall forfeit to the people of this State the sum of two hundred dollars for each and every policy so issued, or procured to be issued. But any company or corporation belonging to any other State or country, having policies of life insurance outstanding in this State, and that were issued in accordance with the laws of this State, shall have the right to maintain a special agent in this State for the collection of renewal premiums on such policies, and the Commissioner is hereby authorized to issue to the duly appointed special agent of such company or corporation, a certificate authorizing him to collect such renewal. premium; such certificate to be issued on the production to the Commissioner of satisfactory evidence that such company or corporation is authorized to transact life insurance business in the State or country to which it belongs. And any person who, as agent of either the insured or insurer, shall collect such renewal premiums, must, on or before the tenth day of January, annually, file with the Commissioner a statement under oath showing the gross amount of such annual premiums collected by him during the year ending on the thirty-first day of December next preceding, and pay into the office of the Commissioner the sum of twenty dollars, gold coin of the United States. Failing to make such statement and payment within the time named, such person shall forfeit to the people of the State of California the sum of one hundred dollars for each and every policy so renewed by the payment to him of such renewal premium. All penalties and forfeitures under this section must be collected by the Insurance Commissioner, and for the purposes of such collections, suits may be instituted by him, in the name of the people of the State of California, in any court of competent jurisdiction. [Amendment approved April 26, 1880; took effect sixty days after passage; repealed conflicting Acts.]

80 Cal. 40; 98 Cal. 7.

§ 597. The Commissioner, whenever necessary, or whenever he is requested by verified petition, signed by three persons interested, either as stockholders, policyholders, or creditors of any person engaged in insurance business, showing that such person is insolvent under the laws of this State, must make examination of the business and affairs relating to the insurance business of such person; and for such purpose has free access to all the books and papers of such person, and must thoroughly inspect and examine all his affairs, and ascertain his condition and ability to fulfill his engagements, and whether he has complied with all the provisions of law applicable to his insurance transactions. Such person and his officers and agents must open his books and papers for the inspection of the Commissioner, and otherwise facilitate such examination; and the Commissioner may administer oaths and examine under oath any person relative to the business of such person; and if he finds the books to have been carelessly or improperly kept or posted, he must employ sworn experts to rewrite, post, and balance the same at the expense of such person. Such examination must be conducted in the county where such person has his principal place of business, and must be private, unless the Commissioner deems it necessary to publish the result of such investigation, in which case he may publish the same in two of the public newspapers of this State, one of which must be published in the City of San Francisco.

§ 597a. The Commissioner has power to, and whenever he deems necessary may, in writing, require any company engaged in insurance business in the State of California, to furnish the Commissioner, as of a date, past or present, to be designated by the Commissioner, a full and complete list of all its policies of insurance on property or risks located within that portion of the State of California included within the territory described by the Commissioner, and which policies had not by the terms thereof expired on the date designated by the Commissioner. Such list must show the number of the policy, the name in which the policy was issued, the amount for which it was issued, the nature and description of the property on which the policy was written or the nature of the risk assumed by the company, the location of the property and the residence of the insured, and the form or class of such

« SebelumnyaLanjutkan »