(1673.) SECTION 1. The People of the State of Michigan enact, Bureau in State That there is hereby established in the State department a sepa- department. rate and distinct bureau, which shall be especially charged with the execution of the laws heretofore passed, or that may be hereafter passed, in relation to fire, fire and marine, life, and other methods and practices of insurance.

of Insurance.

(1674.) SEC. 2. The chief officer of said department shall be Commissioner denominated the Commissioner of Insurance. He shall be a citizen of this State, and shall reside, during the term of his office, at the seat of government, and personally superintend the duties of his office; and shall not be directly or indirectly connected with the management or affairs of any insurance company. He shall be appointed by the Governor, by and with the consent Appointment, of the Senate, and shall hold his office for the term of two years. salary, clerk,' He shall receive an annual salary of eighteen hundred dollars, to be paid quarterly, as is hereinafter provided. He may employ a

term of office,

etc.

Vacancy.

Oath of office.

Bond.

Powers, duties,

and obligations.

Seal.

clerk to discharge such duties as he shall assign him, whose compensation shall not exceed one thousand dollars per annum, which shall be paid to him monthly, on the certificate of the Commissioner of Insurance, and upon the warrant of the Auditor General. Whenever a vacancy shall occur in said office of Commissioner, by reason of death, removal, or otherwise, the Governor shall fill such vacancy by appointment, by and with the advice and consent of the Senate, if in session. Within fifteen days from the time of notice of his appointment, the Commissioner shall take and subscribe the oath of office prescribed by the Constitution, and file the same in the office of the Secretary of State; and the said Commissioner of Insurance shall give to the people of the State of Michigan a bond in the penalty of ten thousand dollars, with sureties to be approved by the Auditor General, conditioned for the faithful discharge of the duties of his office.

(1675.) SEC. 3. The Commissioner of Insurance shall possess all the powers, perform all the duties, and be subjected to all the obligations and penalties now conferred by law upon the Secretary of State, or to which the Secretary of State is subject, in relation to insurance companies and the formation thereof, under the laws relating thereto, so that every power and duty thereby conferred on the Secretary of State shall, from and after the appointment of such Commissioner, be transferred to and conferred upon the said Commissioner. The Commissioner shall be required to annually report the names and compensation of the clerk employed by him, and the whole amount of expenses of the department during the year. Such report shall be made on or before the last day of June in each year, and fifteen hundred copies shall be printed for public information and use.

(1676.) SEC. 4. The said Commissioner, with the approval of the Governor, shall devise a seal, with suitable inscriptions, for his office, a description of which, with certificate of the approval of thẹ Governor, shall be filed in the office of the Secretary of State, with an impression thereof, which seal shall thereupon be and become the seal of office of the Commissioner of Insurance, and the same may Paper under seal be renewed whenever necessary. Every certificate, assignment,

entitled to

record, etc.

or conveyance executed by the said Commissioner in pursuance of any authority conferred on him by law, and sealed with his said seal of office, shall be received as evidence, and may be recorded in the proper recording offices, in the same manner, and with like effect, as a deed regularly acknowledged or approved before an officer authorized by law to take the proof or acknowledgment of

deeds, or filed in the office of any county clerk or clerk of a court of record; and all copies of papers in the office of the said Commissioner, certified by him, and authenticated by the said seal, shall in all cases be evidence in all courts of this State equally and in like manner as the original. An impression of said seal directly on paper shall be as valid as if made on a wafer or wax.

State shall trans

(1677.) SEC. 5. All books, papers, and documents, and all other Secretary of papers whatever in the office of the Secretary of State, relating to fer books, etc. the business of insurance, shall be transferred to the custody of the Commissioner of the Insurance Bureau, and be and remain in his charge and custody.

penses thereof.

(1678.) SEC. 6. There shall be assigned to the said Commissioner office and oxby the Secretary of State at Lansing, suitable room in his department for conducting the business of said bureau, and the said Commissioner shall, from time to time, furnish the necessary furniture, stationery, fuel, lights, and other proper conveniences for the transaction of the said business, the expenses of which shall be paid, on the certificate of the Commissioner and the warrant of the Auditor General, by the State Treasurer, from the fund hereinafter mentioned.

ums.

(1679.) SEC. 7. The taxes on premiums from insurance compa- Taxes on preminies shall continue to be paid to the State Treasurer on the first day of January, or within sixty days thereafter, in each year, and shall be upon the premiums which, during the year or part of the year ending on the preceding thirty-first day of December, shall have been received by any insurance company, or by any person acting as agent therefor, both upon policies issued by agents in this State, or policies issued at the office of the companies upon application of sub-agents or others, or for any individuals or association of individuals not incorporated or authorized by the laws of this State to effect insurance against fire, inland, marine, life, casualty, or other losses and risks, or which shall have been received by any person for such company or agent, or shall have been agreed to be paid for any insurance effected or agreed to be effected or procured by such company or agent, or against fire, inland, marine, life, casualty or other risks, although such companies, associations, or individuals may be incorporated or authorized for that purpose by the laws of any other State of the United States, or of any foreign government. The State Treasurer, on Duplicate rereceiving such tax from any company, shall issue therefor duplicate receipts, one of which he shall deliver to the company, and the other shall be filed with said Commissioner.

ceipts.

Examinations.

Relative to funds received from taxes, and ex

penses of bureau

Removal of
Commissioner.

(1680.) SEC. 8. It shall be proper and lawful for the Commissioner of Insurance to visit any insurance company in other States, for the examination of its affairs, the expenses in all cases to be paid by said insurance companies.

(1681.) SEC. 9. The State Treasurer shall keep all funds received from said taxes as a separate and distinct fund for the maintenance of said bureau, and all warrants for the salary of the Commissioner and his clerk, and for all other expenses of such bureau, shall be drawn by the Auditor General upon and paid out of such fund; and in case of any balance to the credit of said fund, in excess of the necessary expenses of such bureau, it shall be transferred, at the close of the fiscal year, to the general fund of the State.

(1682.) SEC. 10. The Governor shall have the power, and it is hereby made his duty, to remove the said Commissioner for neglect of duty, breach of trust, incompetence, or malfeasance in office, upon reasonable cause shown; and in case of such removal, the Governor shall file in the office of the Secretary of State, and report to the Legislature at its next session, the reasons for such removal.

SEC. 11. This act shall take immediate effect.

CHAPTER XLV.

FOREIGN INSURANCE COMPANIES.

Statement to be

tary of State.

An Act to regulate fire, marine, life, and health insurance companies, and their agents, associations, partnerships, and individuals doing fire, marine, life, and health insur ance business, not incorporated by the State of Michigan.

[Approved February 15, 1859. Laws of 1859, p. 1049.j

(1683.) SECTION 1. The People of the State of Michigan enact, furnished Secre- That it shall not be lawful for any person or persons to act within this State, as agent or otherwise, in prosecuting or receiving applications for insurance, or in any manner to aid in transacting the business of fire or marine insurance for any company, association,

or individual, not incorporated in this State, without first procuring a certificate of authority from the Secretary of State of this State, and before obtaining such certificate, such company, association, individual, agent, or agents, shall furnish the said Secretary of State with a statement, under oath of the president or secretary

of such company, association, or individual, for which he or they What statement may act, which statement shall show:

First. The name and locality of the company or association;

Second. The amount of its capital stock;

Third. The amount of its capital stock paid up;

Fourth. The assets of the company, including,

1. The amount of cash on hand and in the hands of agents or other persons;

2. Real estate unencumbered;

3. The bonds owned by the company or association, and how they are secured, with the rate of interest thereon;

4. Debts due to the company or association, secured by mortgage;

5. Debts otherwise secured;

6. Debts for premiums;

7. All other securities and moneys.

Fifth. The amount of liabilities due or not due to banks or other

creditors by the company or association;

Sixth. Losses adjusted and due;

Seventh. Losses adjusted and not due;

Eighth. Losses unadjusted;

Ninth. Losses in suspense waiting for proof;

shall show.

Tenth. All other claims against the company or association;

Eleventh. The act of incorporation of such company, association,

by-laws, articles of association, or partnership agreements.

agent by com

Which statement shall be filed in the office of said Secretary Appointment of of State, together with a resolution under the seal of the com- y pany, signed by the president of the company, secretary, or chief officer of the association, authorizing any agent, duly appointed by resolution under the seal of the company, to acknowledge service of process for and in behalf of such company or association, consenting that service of process upon Process against any agent shall be taken and held to be as valid as if served upon on agent. the company or association, according to the laws of this State or any other State, and waiving all claim of error by reason of such service; and suits may be commenced against any such company or association in any county of this State, by declaration or pro

company served