Page:United States Statutes at Large Volume 54 Part 1.djvu/1115

 54 STAT.] 76TH CONG., 3D SESS.-CH. 792-OCT. 9, 1940 where such person is, after diligent effort, unable to procure policies to cover the kind or kinds of business required from companies duly authorized to transact business in the District. Each agent or broker so licensed shall pay to the collector of taxes, through the Superin- tendent, on February 1 and August 1 of each year, a sum equal to 2 per centum of the amount of the gross premiums upon all kinds of policies procured by him during the immediately preceding six months' period ending December 31 and June 30, respectively, and? in default of such payment, the Superintendent, through the corporation counsel, may bring suit to recover the same. Each agent or broker so licensed to procure policies from unauthorized companies shall execute and file with the Department on or before the 10th day of each month an affidavit covering the transactions of the previous calendar month, setting forth (1) the description and location of the insured property or risk, and the name of the assured; (2) the amount insured in the policy or contract; (3) the gross premiums charged thereon; (4) the name of the company whose policy or contract is issued, and the kind or kinds of business effected; and (5) that said agent or broker after diligent effort was unable to procure the policies or contracts required to protect the property or risk described in the affidavit from companies duly authorized to transact business in the District. Each agent or broker so licensed to procure policies from unauthor- ized companies shall keep a separate account of the business transacted thereunder, which shall be open at all times to the inspection of the Superintendent. The license provided for in this section may be revoked or renewal thereof refused for failure to pay the tax or to file the affidavit specified herein, or if the agent or broker procured policies from unauthorized companies without exercising diligent effort to secure the required business in duly authorized companies, or if the agent or broker procured policies from unauthorized companies whose standards of solvency and management do not meet the require- ments necessary for the protection of the policyholders. SEC. 41. LICENSE FEES. - Annual fees to be paid through the Super- intendent to the collector of taxes for licenses issued under this Act shall be as follows: (a) For policy-writing agent or for firms, partnerships, or corpora- tions licensed as such, $50, without regard to the number of companies represented: Provided, That, in the case of firms, partnerships, and corporations, an additional fee of $5 shall be charged for each person in excess of two who is named in such license as required under section 32 of this Act. (b) For soliciting agent, $5 for each company represented by such soliciting agent, or for each company represented by any policy-writing agent through which such soliciting agent solicits: Provided That no soliciting agent shall be required to pay for soliciting agents' licenses a sum in excess of $15 for any one license year. (c) For salaried company employee authorized to sign policies and to solicit insurance, $50, without regard to the number of companies repre- sented by such salaried company employee. (d) For salaried company employee authorized to solicit but not authorized to sign policies, $5 for each company represented by said employee: Provided,That the aggregation of such fees shall not exceed $15 for any one license year. (e) For nonresident or resident brokers, $25, except that the fee shall be $5 in case the applicant for a resident broker's license is subject also to the fee prescribed under paragraphs (a) or (c) hereof. (f) For license to procure lines in unauthorized companies, $15. g) Under the license issued to any policy-writing agent or salaried company employee, or in the name of any firm, partnership, or corpora- tion as provided under section 32 of this Act, and for which license a fee 1081 Payment of taxes. Affidavit covering transactions. Business accounts. Revocation or re- fusal of renewal of license. License fees. Provio. Additional for firm, etc. Ante, p. 1078. Proviso. Limitation Proiso. Maximum. Addition of names of certain persons to licenses. AnU, p. 108a

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