Page:United States Statutes at Large Volume 58 Part 1.djvu/212

 PUBLIC LAWS-CH. 173-APR. 22, 1944 r[T APTER 1731 April 22, 1944 [s. 102s] [Public Law 2911 District of Colum- bia. Fire and Casualty Act, amendments. Penalty In lieu of revocation, etc., of cer- tificate of authority. Penalty in lien of suspension, etc., of license. Filing of bond as prerequisite to issu- ance of license. Regulation of agents or brokers. Placement of risk with unauthorized company. AN ACT To amend the Fire and Casualty Act of the District of Columbia. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 3, chap- ter II, of the Fire and Casualty Act of the District of Columbia (Public, Numbered 824, Seventy-sixth Congress; 54 Stat. 1066; title 35, sec. 1306, D. C . Code, 1940), be amended by deleting the period at the end of said section and inserting in lieu thereof a colon, and by adding thereto the following: "Provided further, That, in lieu of revoking or suspending the certificate of authority of any company for causes enumerated in this section after hearing as herein provided, the Super- intendent may subject such company to a penalty of not more than $200 when in his judgment he finds that public interest would be best served by the continued operation of the company. The amount of any such penalty shall be paid by the company through the office of the Superintendent to the collector of taxes, District of Columbia." SEC. 2. That section 36, chapter II, of such Act (54 Stat. 1079, title 35, sec. 1340, D. C . Code, 1940), be amended by deleting the period at the end of the said section and inserting in lieu thereof a colon, and by adding thereto the following: "Provided, That, in lieu of revoking or suspending the license of any policy-writing agent, soliciting agent, broker, or salaried company employee for causes enumerated in this section after hearing as herein provided, the Superintendent may sub- ject such person to a penalty of not more than $200 when in his judg- ment he finds that public interest would be best served by the continued operation of such person. The amount of any such penalty shall be paid by such person through the office of the Superintendent to the collector of taxes, District of Columbia." SEa. 3 . That section 32, chapter II. of such Act (54 Stat. 1078, title 35, sec. 1336, D. C . Code, 1940), be amended by deleting therefrom the figures "$5,000" and inserting in lieu thereof "$1,000" so that the first sentence of the second paragraph of the said section as so amended shall read as follows: "Resident and nonresident brokers shall, as a prerequisite to the issuance of a license, file with the Superintendent a corporate surety bond in an amount not less than $1,000 for the benefit of any person who may suffer loss resulting from fraud or dishonesty on the part of said resident or nonresident broker." SEC. 4. That section 40, chapter II, of such Act (54 Stat. 1080, title 35, sec. 1344, D. C . Code, 1940), be amended by deleting the period at the end of the said section and inserting in lieu thereof a comma, and by adding thereto the following: "or if the agent or broker has placed with any unauthorized company any risk which could be placed with an authorized company except for abnormal provisions of the policy, or if the agent or broker has procured from an unauthorized company any policy which covers a risk of a class generally covered in the District by authorized companies and which authorized companies would cover at a rate not higher than that charged by authorized companies on other District risks of the same class." Approved April 22, 1944. [58 STAT. v. s....

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