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83 standard fire insurance policy to the contrary, and such 84 statement shall be deemed to refer to standard time at the 85 place of loss or damage.

86 Seventh. The standard policy provided for herein need not 87 be used for effecting reinsurance between insurers.

88 Eighth. There may be printed upon the filing back of said 89 policy the name of the company or companies issuing the 90 policy; the location and place of business thereof; statement 91 of the amount of capital thereof; such device or devices as 92 the company or companies issuing said policy shall desire, 93 and if the policy be a combination policy, such distinctive title 94 therefor as may be authorized for use as herein provided. 95 There may also be printed, stamped or otherwise indorsed 96 upon the filing back of said policy the name with the word 97 "agent" or "agents" and place of business of any insurance 98 agent or agents. The words at the top of the filing back of 99 said policy, "standard fire insurance policy of the state of 100 West Virginia" may be changed by the use of the word 101 "states" instead of "state" and by adding after the words 102 West Virginia" the names of any states in which the said 103 policy form shall be standard when the policy is issued. 104 Ninth. There may be printed upon said policy form, else105 where than upon the first and second pages or the filing 106 back thereof, the names of the officers and directors of the 107 company or companies issuing the said policy, and any form 108 providing for assignment of interest or removal, and any blank 109 form of receipt, approved by the insurance commissioner. 110 The insurance commissioner, either in person or by one or 111 more competent and disinterested persons specially appointed 112 by him for that purpose, shall have access to and may at any 113 time examine the books, papers and documents of any fire 114 insurance corporation doing business in this state, or of any 115 corporation, association or bureau maintained for the purpose 116 of suggesting, approving or making rates to be used by more 117 than one underwriter for insurances on property located in 118 this state, for the purpose of determining the number and 119 extent of use of any riders, indorsements, clauses, permits, 120 forms or other memoranda attached to and made a part of 121 any fire insurance contract relating to property located in 122 this state; and after such examination and inspection such 123 insurance commissioner may determine that the use of any 124 such rider, indorsement, clause, permit, form or other memo

125 randa is so extensive that there should be in his judgment a 126 standard form thereof, and he shall thereupon prepare and 127 file in his office such standard form of rider, indorsement, 128 clause, permit, form or other memoranda, and thereafter no 129 fire insurance corporation shall attach to any such standard 130 policy of insurance, any rider, indorsement, clause, permit, 131 form or other memoranda covering substantially the same 132 agreement provided for by such standard rider, indorsement, 133 clause, permit, form or other memoranda except it be in the 134 precise language of the form so filed by the insurance com135 missioner. Forms of riders, indorsements, clauses, permits, 136 forms or other memoranda to be attached to and made a part 137 of fire insurance contracts relating to property located in this 138 state may be presented for filing in the office of the insurance 139 commissioner by any corporation, association or bureau main140 tained for the purpose of suggesting, approving or making 141 rates to be used by more than one underwriter for insurances 142 on property located in this state, and when approved and filed 143 by such insurance commissioner, shall thereupon become 144 standard forms of riders, indorsements, clauses, permits, 145 forms or other memoranda and their use shall be required, as 146 hereinbefore provided. Whenever, in the judgment of the 147 insurance commissioner, there shall be no further necessity 148 for requiring the use of any standard form of rider, indorse149 ment, clause, permit, form or other memorandum in the pre150 cise language theretofore required, he may give notice in 151 writing of such determination, to each fire insurance cor152 poration doing business in this state, and to each such corpora153 tion, association or bureau maintained for the purpose of sug154 gesting, approving or making rates, as aforesaid, and there155 after the use of such standard form shall not be required as 156 herein provided.

157 Appropriate forms of supplemental contract or contracts 158 whereby the property described in such policy shall be in159 sured against one or more of the risks specified in section 160 forty of chapter thirty-four of Barnes' code of West Virginia 161 of one thousand nine hundred and sixteen and chapter 162 eighteen of the acts of the legislature of one thousand nine 163 hundred and seventeen, in addition to the risk of direct loss 164 or damage by fire, may be approved by the insurance commis165 sioner, and their use in connection with a standard fire insur

166 ance policy may be authorized by him. Provided, however, 167 that nothing in this act shall relate or apply to farmers' 168 mutual insurance companies organized under chapter fifty-five 169 of Barnes' code, one thousand nine hundred and sixteen edi170 tion. The state insurance commissioners may, upon com171 plaint, after hearing, reduce any fire insurance rate that is 172 excessive.

173 All acts or parts of acts inconsistent with the provisions 174 of this act are hereby repealed, including sections sixty-seven 175 and sixty-nine of chapter thirty-four of Barnes' code of West 176 Virginia of one thousand nine hundred and eighteen.

CHAPTER 19

(Senate Bill No. 239-Mr. Johnson)

AN ACT to amend and re-enact section sixty-one of chapter thirtyfour of Barnes' code of one thousand nine hundred and eighteen, relating to the capital and reserve of domestic insurance companies other than fire or life, and to add to said chapter thirty-four, section sixty-two-a, relating to the adjustment of claims of companies doing accident and health insurance business.

[Passed April 26, 1923. In effect ninety days from passage. Approved by the Governor May 1, 1923]

SEC.

61. Provisions relating to insurance companies other than life or fire requirements before doing business in state.

SEC.

62-a. Commissioner empowered to investigate method of adjusting claims; penalty for agent's failure to comply.

Be it enacted by the Legislature of West Virginia:

That section sixty-one of chapter thirty-four of Barnes' code be amended and re-enacted, and that section sixty-two-a be added to said chapter so as to read as follows:

Section 61. Every insurance company or association, other 2 than fire or life, incorporated under the laws of this state, and 3 having its principal office or place of business within this state 4 shall have a paid-up capital stock of at least one hundred thou5 sand dollars invested in securities as prescribed in section. 6 twenty-eight, whose market value shall be at par, and in ad7 dition thereto shall maintain a reserve equal to the unearned

8 portion of the gross premium charged for covering all risks 9 written, and shall state on the face of its policies or certificates 10 the agreements with the assured; provided, however, that acci11 dent or accident and health insurance companies which under 12 their policies agree to pay a weekly indemnity, not to exceed 13 thirty dollars per week, and a principal sum not to exceed 14 three thousand dollars, may be licensed to transact business 15 within this state by having a paid-up capital in cash of fifty 16 thousand dollars and, provided, their assets are in the opinion 17 of the insurance commissioner, fully sufficient to protect their 18 policy holders, and in other respects they comply with the pro19 visions of this section; and provided, further, that no insur20 ance company shall advertise a greater amount of capital stock 21 than the actual paid-up capital stock of such company, nor 22 print, stamp or otherwise place any advertising matter upon 23 the face of any policy issued.

Sec. 62-a. The insurance commissioner is hereby given 2 power to investigate the method of adjusting all claims and 3 to examine adjusting agents of any company doing accident 4 and health insurance business in the state, and if it be ascer5 tained from such investigation and examination, or otherwise, 6 that the profit or pay of any such agent is in any manner con7 tingent upon the amount paid upon any claim adjusted by 8 such agent, then the insurance commissioner shall forthwith 9 serve notice upon the agent and such insurance company to 10 discontinue the adjustment of claims by or through such agent, 11 and if the insurance company, after the receipt of such notice, 12 fails to discontinue adjusting claims through such agent the 13 commissioner may cancel the agent's commission and shall re14 fuse to renew the authority of such insurance company to 15 transact business within the state.

CHAPTER 20

(Senate Bill No. 401-Mr. Porter)

AN ACT to amend and re-enact section fifteen of chapter thirtyfour of Barnes' code of West Virginia of one thousand nine hundred and sixteen, relating to discrimination and rebating by insurance companies and agents.

[Passed April 14, 1923. In effect ninety days from passage. Governor April 21, 1923]

SEC.

15. No life insurance company to make discriminations, etc; pen

Approved by the

alty; insurance commissioner to investigate; compel attendance of witnesses, etc.

Be it enacted by the Legislature of West Virginia:

That section fifteen of chapter thirty-four of Barnes' code of West Virginia of one thousand nine hundred and sixteen be amended and re-enacted so as to read as follows:

Section 15. No life insurance company doing business in 2 this state shall make or permit any distinction or discrimina3 tion in favor of individuals of the same class, or of equal ex4 pectations of life, in the amount of payment or return of 5 premiums or rates charged for policies of insurance, or in the 6 dividends or other benefits payable thereon, or in any other 7 of the terms and conditions of the contracts it makes, nor 8 shall any such company permit, or agent thereof offer or make 9 any contract of insurance or agreement as to such contract 10 other than is plainly expressed in the issued policy thereon; 11 and no company authorized or permitted to do an insurance 12 business within this state, or any officer, agent, solicitor or 13 representative thereof shall make any contract for such in14 surance on property or risk located within the state or against 15 liability, casualty, accident or hazard that may arise or occur 16 thereon, or agreement as to such contract other than as plainly 17 expressed in the policy issued, or to be issued thereon; and 18 no insurance company, association or society, by itself or any 19 other party, and no insurance agent, solicitor or broker per20sonally, or by any other party, shall offer, promise, allow, give, 21 set off or pay, directly or indirectly, any rebate of, or part 22 of the premium payable on the policy, or on any policy, or 23 agent's commission thereon, earnings, profits, dividends, or 24 other benefits founded, arising, accruing or to accrue thereon, 25 or therefrom, or any other valuable consideration or induce26 ment to or for insurance, on any risk in this state now or 27 hereafter to be written, which is not specified in the policy 28 contract of insurance; nor shall any such company, associa29 tion, or society, agent, solicitor, or broker, personally or other30 wise, offer, promise, give, sell or purchase any stocks, securi31 ties or property, or any dividends or profits accruing or to 32 accrue thereon, or other thing of value whatsoever as induce33 ment to insurance, or in connection therewith which is not

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