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Proceedings and Acts of the General Assembly, 1872
Volume 190, Page 1994   View pdf image (33K)
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388 JOURNAL OF PROCEEDINGS [Mar. 11,
The Senate bill, entitled an Act to repeal sections 27, 28,
29, 30, 31, 32, 33, 34, 35 and 36, of Article LVI, of the
Code of Public General Laws, relating to Insurance Compa-
nies,
Coming up,
The question being upon the following amendment, pro-
posed by Mr. Longwell: *
AMENDMENT PROPOSED.
Amend by striking out after the word "Association," in
the 7th line, of section 31, to the word "provided," in the
13th line, and insert: "Or their agent shall pay the State
Treasurer the sum of $300, and also a tax of 3 per cent. on
the gross premiums charged or collected for said company
or association during the last license year, which report of
premiums the agent is required to make, under oath, to the
Insurance Commissioner."
The yeas and nays being called for, said amendment was
adopted, as follows:
AFFIRMATIVE.
Messrs. Blake, Stephenson,
Compton, Steiner,
Crawford, Timmons,
Davis, Tuck,
Fields, Wilson,
Jump, Williams—13.
Miller,
NEGATIVE.
Messrs. President, Earle,
Dennis, Henry—4.
Mr. Fields submitted the following amendment:
AMENDMENT PROPOSED.
Sec. 37. "The net reserve of all Life Insurance Companies
doing business in this State, shall be invested in or loaned
on ground rents, or mortgages on unencumbered real estate
in this State, worth at least double the amount loaned.
thereon."
Which was rejected by yeas and nays, as follows :
AFFIRMATIVE.
Messrs. Blake, Fields,
Davis, Stephenson—4.
NEGATIVE.
Messrs. President, Jump,
Compton, Miller,
Crawford, Steiner,
Downs, Timmons,

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Proceedings and Acts of the General Assembly, 1872
Volume 190, Page 1994   View pdf image (33K)
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