Page:United States Statutes at Large Volume 54 Part 1.djvu/1108

 1074 PUBLIC LAWS-OH. 792-OCT. 9, 1940 L5O4iTAT. the benefit of all policyholders within the United States the sum of at least $350,000 in cash or in securities such as are required for the invest- ment of the assets of insurance companies authorized to do business in Proviso. the District: Provided,That they shall not be required to establish or Substitution. maintain such a deposit if they have on deposit in the hands of a bank or trust company in the United States as trustee cash deposits or securi- ties issued by the United States worth not less than $2,000,000 in the aggregate and held in trust for the benefit of all policyholders in the United States; Filing of powers of 3. They shall file with the Superintendent an authenticated copy of attorney, etc. their powers of attorney and an authenticated copy of the trust agree- ment, or other agreement under which deposits made by underwriters are held; Notification of 4. They shall notify the Superintendent forthwith of any amend- amendments. ments to their powers of attorney, deposit agreement, or other docu- ments underlying their organization, by filing with the Superin- tendent an authenticated copy of such documents as amended. Change in names, 5. They shall notify the Superintendent forthwith of any change in et c , their names or change of attorney-in-fact, or change of address of their attorney-in-fact; Annual statement oAnnal statement 6. Inthe case of an alien Lloyd's, their annual statement shall em- brace only their condition and transactions in the United States, and may be verified by the oath of their resident manager or other person or persons having proper authority; Filing of veriied 7. There shallbe filed with the Superintdent by the attorney-n- cntSents. fact at the time of filing the annual statement, or more often if the Superintendent requires, a statement verified by the appropriate official of such Lloyd's, setting forth- (a) the names and addresses of all the underwriters of such Lloyd's; (b) a description of the cash and securities deposited in trust by each underwriter; (c) the maximum amount of insurance assumed by each under- writer upon any single risk or each kind of insurance; (d) that the maximum amount of insurance assumed upon any single risk for each kind of insurance by any individual under- writer does not exceed the limitation provided for in paragraph one of this section. tiflcateio fathorty- SEC. 21. APPLICATION FOR CERTIFICATE OF AUTHORIrr.- A foreign or alien company, in order to procure a certificate of authority to transact business in the District, shall make application therefor to the Super- intendent on forms prescribed and furnished by the Superintendent. Such forms shall be executed for the company, by its president or vice president, or executive officer corresponding thereto, and verified by such officer, and if a corporation the corporate seal shall be thereto affixed, attested by its secretary or other proper officer. Delivery to Super- SE. 22. DELIVERY TO SUPERINTENDENT OF APPLICATION AND DOCU- intendent of applica- tionanddocuments. MENTr. - A foreign or alien company shall deliver to the Superin- tendent (a) application of the company for a certificate of authority; (b) a copy of its articles of incorporation or articles of association and amendments thereto, duly certified by the proper officer of the State or country under whose laws the company is organized or incorpo- rated, or if reciprocal, the power of attorney of the attorney-in-fact; (c) if an alien company, a copy of the appointment and authority of its United States manager, certified by a proper officer of the com- pany; (d) a copy of its bylaws and regulations; (e) forms of contracts and policies it proposes to issue in the District, and forms of the appli- cations therefor, if any; (f) the instrument authorizing service of P, p. io0 process on the Superintendent required by section 23 (b) of chapter II of this Act; (g) a statement of its financial condition and business __ rll_

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