of the affairs of said company, or cause one to be made by some disinterested person or persons specially appointed by him for that purpose, and the said superintendent, or person or persons so appointed by him, shall have power to examine, under oath, the officers or agents of any company, in relation to the business of said company, and it shall be the duty of the officers and agents of any insurance company doing business in this State, to cause their books to be opened for the inspection of said superintendent, or of any person or persons appointed by him, to make such examination, and otherwise to facilitate such examination as far as it may be in their power so to do, and whenever said superintendent shall deem it for the benefit of the public, he shall publish the result of said investigation in some newspaper published in the city of St. Louis; and whenever it shall appear to said superintendent, from an examination made by himself, or from the report of the person or persons so appointed by him, that the affairs of any such company, not incorporated by the laws of this State, and doing in this State any business mentioned in the first section of this act, are in an unsound condition, he shall revoke the certificate of authority granted to such company, and shall cause a notice of such revocation to be published once a week, or oftener, for at least four weeks, in some newspaper in the city of St. Louis, and the agent or agents of such company are, after such revocation and notice, required to discontinue the issuing of new policies or the collection of any premiums; and if upon any such examination it shall appear to said superintendent that the capital stock of any company, created by or or ganized under any law of this State, and doing any business mentioned in the first section of this act, is impaired more than twenty per cent., or if it be a mutual company, that its guarantee fund is impaired, or that its premium notes are below the amount required, or of a different kind and character, he shall give notice to such company, in writing, to make up the same within sixty days; and if, upon such notice, such company shall neglect or refuse to make up said stock and notes as required, or if, upon such examination, it shall appear to said superintendent that any such company is insolvent, or that its condition is such as to render its further proceedings hazardous to the public, or to those holding its policies, he shall file in the clerk's office of the circuit court of the county in which such company was organized, or in which it has its principal office or place of business, a petition, setting forth the condition of said company as aforesaid, and praying for a writ of injunction to restr in said company, in whole or in part, from further proceeding with its business. Such writ shall thereupon issue, together with a summons, against said company, returnable in three days thereafter, which shall be served as provided by law for service of process upon corporations. If such process be not served, then further like process shall issue, returnable as the court, or a judge thereof, in vacation, may direct; and the court, or judge, whenever satisfied that process cannot be served, may order said company to be notified by publication, as in case of non-resident defendants. Upon the return of such process, duly served, on proof of such publication, made by the affidavit of the publisher of the newspaper making such publication, his foreman or clerk, the petition shall be heard summarily before said court, or the judge thereof, who may, at such hearing, or at any time thereafter, for cause shown, dissolve, modify or continue the injunction, and he shall set a day for the hearing of said cause without unnecessary delay. Said company shall, unless longer time be granted, answer the allegations of said petition, on or before the third day after the time when it is bound to appear, failing in which, judgment may be entered against it by default. All proceedings had and ordered, or decrees made, under the provisions of this section, before or by a judge in vacation, shall be entered of record, as of a special term of the court of which he is judge. One or more referees, versed in the business of insurance, mentioned in the first section of this act, may be appointed by the court or judge, to report upon the condition of said company, or upon any question of fact arising in the cause. The court or judge may, at any time after the filing of the petition, appoint agents or receivers to take possession of the property of said company and may, upon the final hearing, make such orders and decrees as may be needful to suspend, restrain or prohibit the further continuance of the business of said company, or any part thereof, or for the dissolution of the said company and the winding up of its affairs. From a final judgment or decree in any such case, an appeal or writ of error may be taken, as provided by law in respect to final judgments of the court rendering the same; or, if in the county of St. Louis, as from a final judgment or decree of the circuit court at special term. The court, or judge, may appoint an attorney to assist said superintendent in any such proceeding. The costs and reasonable expenses of any examination or proceeding authorized by this section, including reasonable attorneys' fees, to be allowed and taxed as costs by the court or judge appointing such attorney as aforesaid, shall be paid by the company so examined or proceeded against, and such expenses, other than taxed costs, may be recovered by said superintendent, in an action therefor, against such company; provided, that if any injunction issued thereunder be dissolved, and the court or judge dissolving the same shall not state in the order or decree of dissolution that there was reasonable grounds for procuring such injunction, the costs of such proceeding shall be taxed to, and paid by, the Superintendent of the Insurance Department, and shall be allowed him in his accounts, upon proper vouchers therefor, as expenses of said department, Was read the first, second and third times, and agreed to. Strike out section 46, and insert in lieu thereof, the following: All such provisions of chapters sixty-seven (67) and ninety (90,) of the General Statutes of the Missouri, as relate to the business mentioned in the first section of this act, and to companies transacting such business, and all other acts and parts of acts inconsistent with the provisions of this act, are hereby repealed; provided, that nothing in this act contained shall be construed to affect the corporate existence, or the rights as such, of any corporation now existing, heretofore organized, under any general law of this State; Was read the first, second and third time and agreed to. Strike out section forty-four (44) in the printed bill, and insert the following: SEC. 44. All companies doing business in this State under either of these classes or divisions of Insurance business named in the first section of this act or any part thereof, shall pay into the Insurance Department of this State all the fees and dues as required by the provisions of this act which shall be in lieu of all fees, dues or taxes to be collected for the benefit of the State under existing laws, but such companies shall in all other respects be subject to all existing laws but such companies shall in all other respects be subject to all existing laws relating to fees, licenses and taxation for county or municipal purposes; Was read the first, second and third times and agreed to. Amendment No. 5, as follows: Amend by adding new section to be numbered section 47: SEC. 47. Every company organized by or incorporated under the laws of this State, shall within ninety days after the passage of this act file with the Superintendent of the Insurance Department of this State, a statement made up for its last fiscal year, or for one year prior to any subsequent date; such statement shall be made in the same manner and form, and shall set forth the facts as is required by the twenty-third section of this act, of companies making their annual statements; Was read the first, second and third times and agreed to. Add new section to be numbered section 48: SEC. 48. Nothing in this act contained shall be so construed as to prevent the repeal or amendment of the same or any section thereof by the present or any future General Assembly of this State; Was read the first, second and third times and agreed to. On motion of Senator Spaunhorst, Senate bill No. 167, entitled An act for the incorporation and regulation of Life Assurance Companies; Was taken up, and amendment No. 1, as follows: Amend by striking out the words "whether State, county or municipal" in the fourth line of section forty, and inserting in the place thereof, "collected for the benefit of the State," Was read the the first, second and third times and agreed to. Amend by adding to section forty the words "but all companies. organized under the laws of the United States or any other State doing in this State the business mentioned in the first section of this act, shall be subject to existing laws relating to fees and licenses for county and municipal purposes. All companies organized under the laws of the State and doing the business mentioned in the first section of this act, shall pay all fees as required by this section, which shall be in lieu of all fees or taxes whatever, except that they may be taxed upon their paid up capital stock, the same as other property in the county for county and municipal purposes; Was read the first, second and third times and agreed to. Amend section 53 of the printed bill by adding at the end thereof in the sixth line after the word "State" the following: "Provided, That nothing in this act contained shall be so construed as to prevent the repeal or amendment of the same or any section thereof by the present or any future General Assembly of this State; Was read the first, second and third times and agreed to. Senator Spaunhorst moved that the Enrolling Clerk be authorized to employ assistance. Motion adopted. On motion of Senator Dodson, House bill No. 15, entitled An act to amend an act entitled "an act to establish a court of common pleas in Linn county; Was taken up, read the first time, the rules suspended, read the second time, the rules further suspended, read the third time, and passed by the following vote: AYES-Senators Birch, Blodgett, Boardman, Brown of Shelby, Brown of St. Louis, Bruere, Carroll, Clark, Conrad, Davis, Dodson, Essex, Gottschalk, Graham, Harbine, Headlee, Morrison, Morse, Rogers, Rollins, Roseberry, Reed, Shelton, Spaunhorst, Waters and Williams--25. NOES-None. Absent-Senators Bruere, Cavender, Evans, Rea, Ridgley and Todd-6. Absent with leave-Senators Elwell, Filler and Human-3. The title of the bill was then agreed to. On motion of Senator Davis, Senate bill No 24, entitled An act to amend an act entitled an act to establish a court of common pleas in the county of Lafayette, and a court of common pleas in the county of Ray, Daviess and Pettis, with probate jurisdiction in the last three counties, and repealing all laws in conflict with the same, Was taken up, and the House amendment, as follows: SEC. 2. Section 12 of the aforesaid act is hereby amended to read as follows: The clerk of the circuit court shall be ex-officio clerk of said common pleas court, except in the county of Ray, which clerk shall be appointed by the judge of said court, and shall be governed by the same rules, perform the same duties, have the same charge of all records and papers, and receive like fees therefor as in the circuit court, and records, stationery and expenses of said court shall be provided in like manner as in circuit courts, Was read the first, second and third times and agreed to. On motion of Senator Essex, House concurrent resolution No. 42, as follows: Concurrent resolution appointing a committee to inquire into the propriety of improving the navigation of Black river and Currant river, and report to the Adjourned Session. Be it resolved by the House of Representatives, the Senate concurring therein: That a committee of five, two on the part of the Senate, and three on the part of the House, be appointed, whose duty it shall be to inquire into the propriety of improving the navigation of Black river and Currant river, or as much thereof as lies in this State, and shall report to the Adjourned Session of the General Assembly such facts as they may be able to obtain from such inquiry, Was taken up, read the first time, rule suspended, read the second time, rule further suspended, read the third time and lost by the following vote : AYES Senators Birch, Blodgett, Boardman, Brown of Shelby, Carroll, Clark, Davis, Essex, Gottschalk, Graham, Headlee, Morrison, Rollins, Reed, Spaunhorst and Waters-16. NOES Senators Brown of St. Louis, Conrad, Dodson, Harbine, Rogers, Roseberry, Shelton and Williams-8. Absent-Senators Bruere, Cavender, Evans, Morse, Rea, Ridgley and Todd-7. Absent on leave-Senators Elwell, Filler and Human-3. Senator Rogers moved to reconsider the vote by which the resolution was lost; Which motion was ordered to be put upon the journal. Senator Birch moved that the Senate take a recess until 9 o'clock to-morrow morning. Motion lost by the following vote, Senator Gottschalk demanding the ayes and noes: AYES-Senators Birch, Boardman, Brown of Shelby, Brown of St. Louis, Carroll, Clark, Essex, Harbine, Headlee, Roseberry, Reed and Waters-12. NOES Senators Blodgett, Conrad, Davis, Dodson, Gottschalk, Graham, Morrison, Rogers, Rollins, Shelton, Spaunhorst, and Williams -12. Absent-Senator Bruere, Cavender, Evans, Morse, Rea, Ridgley and Todd-7. Absent with leave-Senators Elwell, Filler, and Human--3. Senator Blodgett offered the following resolution: Resolved, That J. F. Howes, reporter in the Senate be allowed the same per diem during the session as the reporter furnishing the reports for the State Times. Resolution read and adopted. Senator Shelton offered the following resolution: Resolved, That A. A. Rice, lamp-lighter of the Capitol, be allowed two dollars and a half per day for his services as such, to be paid out of the contingent fund of the Senate. Resolution read and adopted. Senator Brown of Shelby offered the following resolution: Resolved, That the Doorkeeper furnish the clerks, pages and other officers of the Senate, each, with one hundred three cent stamps, to be paid for out of the contingent fund of the General Assembly. Resolution read, and, pending action, On motion of Senator Roseberry, The Senate took a recess until ten o'clock to-morrow morning. |