ART. 56.] LICENSES.

83

troller of the treasury the sum of three hundred dol-
lars, annually, for each and every company represented
by him or them, but before the comptroller shall issue

said license, he shall require a statement, under oath,
of the true financial condition of the office or offices
proposed to be represented by him or them, and for
which he or they may make application for license, and
of the amount of premiums charged or collected within
this state, by any such company, during the year next
preceding such application, and if the one and a half
per cent, of said premiums shall exceed the price of
said license, there shall be paid to the comptroller be-
fore taking out a license for the ensuing year, the whole

Statement un-
der oath.

excess of such, one and a half per cent, over and above
said price ; except that marine insurance companies shall
pay of such excess only one-tenth of such one and a
half per cent. and the comptroller shall require as a
condition precedent to issuing of said license the exhi-

Additional
charge for
license.

bition of authority from the parent office or offices to
accept service of all legal process against said compa-
nies.

Approved and in force April 4, 1870.

TRADERS.

Authority to
settle losses