INSURANCE. 1815

1922, ch. 492, sec. 46.

46. Misrepresentation of Terms of Policy. No insurance company,
or any officer, director, agent, broker or solicitor thereof, shall issue, circu-
late or cause or permit to be issued, circulated or used, any statement,
estimate, illustration or circular misrepresenting the terms of any policy
issued or the benefits or privileges promised under any such policy, or
the future dividends payable under such policy.

1922, ch. 492, sec. 47.

47. Penalties for Violation of Sections 44, 45 and 46. Any person
or corporation violating any of the provisions of sections 44, 45 and 46
of this article shall be guilty of a misdemeanor, and upon conviction
thereof the offender or offenders shall be sentenced to pay a fine of not
less than two hundred dollars or more than five hundred dollars for each
and every violation of either of said sections. Any agent or solicitor of
any insurance company, or any insurance broker, shall, upon being con-
victed of a second offense under said sections, be disqualified from acting
as an insurance agent, solicitor or broker, for the period of one year there-
after ; and it shall be the duty of the insurance commissioner, upon being
satisfied that any insurance company, or agent thereof, has violated any
of the provisions of said sections 44, 45 and 46, to report the same to the
state's attorney for the county or city in which such offense may have been
committed.

1922, ch. 492, sec. 48.

48. Consolidation of Companies. Any two corporations, one of which
is created and existing under the laws of this state, and one of which is
created and existing under the laws of any other state or territory of the
United States, and each of which is organized for the purpose of under-
taking the following classes of insurance: (1) Accident and health in-
surance; (2) insurance against loss or damage by reason of injuries to
employee, or other persons, for which the insured is liable, and loss or
damage to property caused by horses or vehicles for which the insured is
liable; (3) fidelity and surety insurance and bonding; (4) burglary and
theft insurance; (5) plate glass insurance; (6) steam boiler, flywheel
and machinery insurance, including the liability of the insured for dam-
age to persons or property of others; (7) loss or damage to automobiles
(except by fire or when being transported in any conveyance by land
or water) and legal liability for damage to property caused thereby;
(8) sprinkler leakage insurance; or any two or more of said classes of in-
surance may merge or consolidate such corporations into one corporation
in the name of one or more corporations. The corporations may enter into
and make an agreement for such merger or consolidation under their re-
spective corporate seals, prescribing its terms and conditions, the amount
of its capital, which shall not exceed in amount the aggregate amount of
capital of the merged or consolidated corporations, and the number of
shares into which it is to be divided. Such agreement must be assented to
by a vote of the majority of the number of directors of each corporation