ments in state

office, how dis

posed of.

records, books and papers thereof on file therein shall be deemed public records of the State. All Books, docubooks and documents and all other papers whatever, in the office of any of the officers of the State relating to insurance, shall, on demand, be delivered and transferred to the Superintendent of Insurance, who shall give a receipt for the same, which shall be a full release from all responsibility in connection with such documents, books and papers.

perintendent.

Sec. 9. It shall be the duty of the Superinten- Duties of sudent of Insurance to file in his office and safely keep all books and papers required by law to be filed therein, and to keep and preserve in permanent form a full record of his proceedings, including a concise statement of the condition of such insurance companies reported and examined by him, to issue certificates of authority to transact insurance business to any insurance companies which have fully complied with the laws of this State, and to issue such other certificates as required by law in the organization of insurance companies, and the transaction of the business of insurance, and generally to do and perform with justice and impartiality all such duties as are or may be imposed on him by the laws in relation to the business of insurance in the State; and he shall, annually, at the earliest practicable date after the returns are received from the several companies, make a report to the Governor of the affairs of the Insurance Department, which report shall contain a tabular statement and synopsis of the several statements as accepted by the Superintendent, and such other matters as in his opinion may be of benefit to the public, and he shall make such recommendations as he may deem proper in regard to the subject of insurance in this State, and shall set forth in a statement, verified by oath and the certificate of the Auditor of State, the various sums received and disbursed by him, from and to whom, and for what purpose. Not exceeding 1,000 copies of such report Copies pubshall be published by and subject to the order of the said Superintendent at the expense of the Department. The Superintendent of Insurance shall, within ninety (90) days after entering upon the dis

Reports, when made.

and to whom

lished.

Shall furnish necessary blanks.

Power of superintendents of insurance.

Examination of companies.

pay expenses

charge of the duties of the office, furnish to all insurance companies doing business in this State, a copy of this Act, and necessary blanks to comply therewith, and shall annually, in November, furnish such blanks for the filing of statements as required by law. The Superintendent, on retiring from office, shall deliver to his qualified successor all furniture, papers and property pertaining to his office.

Sec. 10. The Superintendent may, with the consent of the Governor, whenever a grave necessity arises and he deems it prudent for the protection of policy holders in this State, visit, or cause to be visited and examined by some competent person, or persons, he may appoint for that purpose, any insurance company applying for admission or already admitted to do business by agencies in this State. Such examinations shall include a thorough inspection and examination into its affairs, especially as to the financial condition and ability of said. Company to fulfill its obligations to the policy holders, and whether it has complied with the laws of this State, and such Company to pay the proper Companies to charges incurred in such examination, including the of examination expenses of the Commissioner, or his deputies, and the expenses and compensation of his assistants employed therein. The Superintendent may also make an examination, with the consent of the Governor, of any such company, upon the request of five or more of the stockholders, creditors, policy holders, or persons pecuniarly interested therein, who shall make affidavit of their belief, with specifications of their reasons therefor in writing; that such company is in an unsound or insolvent condition; Provided, that only the United States branches of all foreign companies in this State may be examined by said Superintendent. For the purposes aforesaid, the commissioner or his deputy or person making the examination, shall have free access to all books and papers of an insurance company that relate to its business, and the books and papers kept by any of its agents, and may summon and administer oaths or affirmations to witnesses, and examine the directors, officers, agents and trustees of any such company, and any other per

Only United

States branches examined.

duction of rec

son, in relation to its affairs, transactions and conditions. He may require and compel the production Compel proof records, books, papers, contracts or other docu- ords, etc. ments by attachment, if necessary; and shall have the right to punish for contempt by a fine or imprisonment, or both, any person failing or refusing to obey such summons or order of such Superintendent. Any person testifying falsely in reference to any matter, material to said investigation, examination or inquiry, shall be deemed guilty of perjury, and, in addition to the punishment for contempt in refusing to attend, or answer, or produce books and papers, any person who shall refuse to give such Superintendent full and truthful information and answer in writing to any inquiry or question made in writing by said Superintendent, in regard to the business of insurance carried on by such person, or to appear and testify under oath before the Superintendent in regard to same, shall be deemed guilty of a misdemeanor, and, upon, conviction thereof, shall be punished by a fine not exceeding five hundred dollars ($500) or imprisonment not exceeding three (3) months.

Any director, officer, manager, agent or employee of an insurance company, or any other person, who shall make any false certificate, entry or memorandum upon any of the books or papers of any insurance company, or upon any statement or exhibit filed or offered to be filed in the insurance department of this State, or used in the course of any examination, inquiry or investigation, with the intent to deceive the Superintendent of Insurance or any other person employed or appointed by him, to make any inquiry, examination or investigation, shall, upon conviction, be punished by fine not exceeding one thousand dollars ($1,000), and by imprisonment for not less than two (2) months in the county or city jail, nor more than five (5) years in the penitentiary; Provided, that any company whose license has been revoked by said Superintendent, may appeal from said order to the District Court, which Court, upon the filing of the proper petition, shall cause the record and orders of the Superintendent to be brought before it, and upon a hearing of the case by the Court de novo, the Court shall

False testimoment therefor.

ny and punish

False entry, ishment.

fine and pun

Examinations published.

either confirm or revoke the order of said Superintendent as in its discretion may appear just.

Sec. 11. When the Superintendent deems it to the interest of the public, he may publish the result of any examination or investigation in a newspaper published in Denver and of general circulation in the State. When it appears to the Superintendent of Insurance, from the report of the person appointed by him or other satisfactory evidence that the af fairs of any company doing business in the State Superintendent are in an unsound condition, he shall revoke the power to revoke authority granted to such company to do business in this State and cause a notice thereof to be published in at least one newspaper published in the city of Denver and in the county where the principal office is located within this Sate, and after the publication of such notice it shall be unlawful for such company or any agent thereof to procure any applications for insurance or to issue or renew any policies.

authority.

Fees for filing on admission to do business in the state.

Fee for filing annual statement.

Pay two per cent. on gross premiums.

Sec. 12. There shall be paid by every insurance company doing business in this State, to the Superintendent of Insurance, the following fees, viz: For filing the certified copy of Articles of Incorporation required by this Act on the organization of each company, $50; for filing power of attorney and statement preliminary to admission, $50; for filing copy of its charter or deed of settlement and examination thereof, $25; for filing annual statement, $50; for certificate of authority to transact business in this State, $5; for each copy of certificate of authority for use of agent, $2; for each copy of any paper filed in his office, per folio, 20 cents; for affixing the seal of his office and certifying any paper, $1. All insurance companies, partnerships or associations engaged in the transaction of the business of insurance in this State, shall annually, on or before the first day of March, in each year, pay to the Superintendent of Insurance, two per cent. on the gross amount of premiums received or written within this State during the year ending the previous 31st day of December.

Money received

disposed of.

Sec. 13. All moneys received by the Superin- by superintend tendent of Insurance shall be paid into the State ent, and how treasury, for an Insurance Fund, within thirty (30) days after the receipt of the same, and shall be used for the purpose of defraying the expenses of the Insurance Department. The State Treasurer shall give duplicate receipts for all moneys thus paid into the State treasury,one of which shall be delivered to the Auditor of State, and the other to be filed in the office of the Deputy Superintendent of Insurance. All expenses of the Insurance Department, includ- Expenses and ing salaries, shall be paid by the State Treasurer and by whom out of moneys in his hands, to be known as the Insurance Fund, on warrants drawn upon such fund by the Deputy Superintendent of Insurance and approved by the State Auditor; but no money shall be paid out by the State treasury in excess of the amount collected from insurance companies, as provided by this act. For all payments made by him, the Deputy Superintendent. of Insurance shall take proper vouchers.

salaries, how

paid.

deputy super

whom audited

The accounts of said Deputy Superintendent of Accounts of Insurance for all receipts and disbursements by him intendent, by made, shall be audited, adjusted and settled at the close of each year by the Auditor of State.

Sec. 14. The surplus of money remaining in the hands of the State Treasurer to the credit of the Insurance Fund, being in excess of receipts over expenditures of the Insurance Department, shall be transferred by him, on the warrant of the Superintendent of Insurance,from said Insurance Fund, to the credit of the General Fund of this State, annually, at the close of the fiscal year of the State.

CHAPTER II.

Section 1. No insurance company organized under the laws of this State shall adopt the name of any existing company or association transacting a similar business, or any name so similar as to be calculated to mislead the public.

Sec. 2. It shall be unlawful for any person, company or corporation in this State either to procure, receive or forward applications for insurance in

Surplus money

transferred to

general fund.

No company

shall adopt

same name as

others, etc.

Violation of law and penalty of same.