HERBERT R. O'CONOR, GOVERNOR. 1103
(a) The name of the attorney and the name or designation
under which such contracts are issued, which name or desig-
nation shall not be so similar to any name or designation
adopted by any attorney, or by any insurance organization in
the United States, prior to the adoption of such name or
designation by the attorney, as to confuse or deceive.
(b) The kind or kinds of insurance to be effected or ex-
changed.
(c) A copy of the form of policy contract or agreement
under or by which such insurance is to be effected or ex-
changed.
(d) A copy of the form of power of attorney or other au-
thority of such attorney under which such insurance is to be
effected as exchanged, which power of attorney shall make
provision for a contingent liability equal to not less than one
additional annual premium or deposit charged: Provided,
however, that where an exchange has a surplus equal to the
minimum capital and surplus required of a stock insurance
company transacting the same kind or kinds of business, its
power of attorney need not provide for such contingent liabil-
ity of subscribers, and such exchange may issue to its sub-
scribers policies or contracts without contingent liability until
notified by the Commissioner of Insurance that the surplus
maintained is less than the above said amount, after which
said notice the powers of attorney issued by any such exchange
shall make provision for contingent liability as above required,
and holders of policies issued subsequent to such notice shall
be subject to contingent liability as provided in such powers
of attorney.
(e) The location of the office or offices from which such con-
tracts or agreements are to be issued.
(f) That except as to the kinds of insurance hereinafter
specifically mentioned in this subdivision, application shall
have been made for indemnity upon at least one hundred sep-
arate risks aggregating not less than one and one-half million
dollars, represented by executed contracts or bona fide appli-
cations to become concurrently effective. In the case of em-
ployers' liability or workmen's compensation insurance, appli-
cations shall have been made for indemnity upon at least one
hundred separate risks, covering a total annual payroll of not
less than four million dollars, as represented by executed con-
tracts or bona fide applications to become concurrently effec-
tive. In the case of automobile insurance, applications shall
have been made for indemnity upon at least one thousand
motor vehicles, represented by executed contracts or bona fide
applications to become concurrently effective on any or all
classes of automobile insurance effected by such subscribers
through said attorney.
|