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safe keeping thereof, and for the meetings of fire companies; but no property shall be exempt from taxation which shall have been purchased or procured for the purpose of evading taxation, whether temporarily holding the same over the first day of the assessment year or otherwise, whether same be in this state or elsewhere; provided, however, that the property, both real and personal, whcih is exempt from taxation by this section shall be entered upon the assessors' books, together with the true and actual value thereof, but no taxes shall be levied upon the same or extended upon the assessors' books.

CHAPTER 76.

(Senate Bill No. 20.)

AN ACT to give force and effect to title to land or any interest in

land in the state of West Virginia which has been heretofore or shall hereafer be sold or partitioned or disposed of under judicial proceedings.

(Passed February 9, 1907. In effect ninety days from passage.

Governor, February 21, 1907.)

Approved by the

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Be it enacted by the Legislature of West Virginia:

Sec. 1. That when land or any interest in land in this state has heretofore been sold, partitioned or disposed of prior to the formation of this state, under the order, judgment or decree of any court of competent jurisdiction of the state of Virginia, or has heretofore been or shall hereafter be sold, partitioned or disposed of under the order, judgment or decree of any court of competent jurisdiction of this state, it shall be presumed, in the absence of evidence to the contrary, that every such court obtained due jurisdiction in the cause by the institution of all proper proceedings and by the service or execution of proper process over any and all persons whose names appear in any part of the record of the cause as persons embraced therein or against whom the court proceeded, and this presumption shall apply to any person or persons named by the designation of child, children, heir-at-law, heirs-at-law, devisee, devisees, or other sufficient designation or classification from which it can be shown by the record or otherwise the person or persons included therein or intended thereby.

Sec. 2. That when any deed has heretofore been made prior to the formation of this state for land or any interest in land therein, which purports on its face to be made under judicial proceedings of a court of the state of Virginia by a commissioner, special commissioner, guardian or other person, or when any deed has heretofore been made or shall hereafter be made for land or any interest in land in this state which purports on its face to be made by a commissioner, special commissioner, guardian or other person under the judicial proceedinge of a court of this state, then in every such case it shall be presumed, in the absence of evidence to the contrary, that the person executing such deed was authorized by the court to convey the land or interest therein which is conveyed by such deed, and if any such deed was duly, or shall hereafter be duly admitted to record in any county, and not less than ten years shall have elapsed after such record thereof, it shall be presumed, in the absence of evidence to the contrary, that the title of all persons which said deed professes to convey, under such judicial proceedings, did in fact pass by such deed.

Sec. 3. For the purpose of this act a court of the United States shall be deemed a court of the state within which it has been or may be held.

Sec. 4. This act shall not apply to any order, judgment, decree or deed hereinbefore mentioned which has been or may hereafter be offered or introduced in evidence in any action, suit or proceeding now pending in any court of this state; and this act shall not permit any such order, judgment, decree or deed to be evidence in any action, suit or proceeding now pending in any court of this state, which would not have been evidence had this act never been passed.

CHAPTER 77.

(Senate Bill No. 94.) AN ACT to revise, amend and re-enact chapter thirty-four of the

code of West Virginia.

(Passed February 14, 1907. In effect ninety days from passage.

Governor, February 25, 1907.)

SEC. 26. 27.

28.

29.

30. 31.

32.

33.

34.

35.

36.

37.

38.

SEC. 1.)

insurance State to

commissioner; 6.

his duties and compensation. 7. Life insurance companies to make

report; what report to contain; duty of insurance commissioner

upon receipt of report; proviso governing policies

issued by companies doing busi8. ness in this state. 9. Payments in form of dividends,

etc., shall not be made to stockholders, unless, etc., no pay. ments made to policyholders, ex

cept, etc., unless, etc. 10. Every officer, or director,

who knowingly votes to any payments, etc., in violation of section nine, shall forfeit to the state the

sum, etc., how recovered. 11. Insurance commissioner to visit

life insurance companies ; how

often; for what purpose. 12. Examination of companies not incorporated in

this state : expenses : by whom borne. 13. Commissioner to have access to

all books and papers ; penalty

for refusal. 14. No life insurance company incor

porated in this state to issue policies until certificate has

been issued by commissioner. 15. No life insurance company to

make discriminations, etc. 16. Certificate of authority to be

granted agents, etc. ; penalty for

acting without authority. 17. Life insurance companies may

issue annuities. 18.

Life insurance companies of other

states before doing business in this state must submit report

of condition : issuance of license, 19. License must be obtained before

doing business in this state. 20. Duty of insurance commissioner

if he finds assets less than lia

bilities, Liabilities to include net present

value of policies. 22. Receiver to certify proceedings to

39.

40.

41.

to

47.)

48.

49.

50.

21.

1.

Approved by the

.

circuit court. 23. Proceedings pending in circuit

court. 24.

Circuit court may limit and ex

tend time for presentation of
claims; when ; commissioners

appointed to decide upon claims. 25. Duty of insurance commissioner in

case of repeal of charter of com-
pany.

How loans and investments made.
Director or officer of company not

to receive compensation for

recommending loans, etc. Loans of capital assets to be se

cured by mortgage, etc. No portion of capital assets, etc.,

to be used in purchase stocks

in certain companies. May take premium notes. Penalty for violation of certain

provisions. When life

insurance companies may take in payment stocks.,

etc. Provisions governing mutual life

insurance companies. Misrepresentation of terms of pol

icies, etc., probibited. Fire and marine insurance com

panies to make report to insurance commissioner; what report to contain. When fire and marine insurance

companies may transact business in this state; certificate to be is

sued. Commissioner may inquire into

financial condition of company. When fire and marine insurance

companies located in other states may transact business in this

state. Provisions governing investigation

into affairs of company. Fire insurance company may

make insurance against wind,

etc. Fire insurance companies of foreign

countries : requirements before

doing business in this state. No insurance company to limit

time within which suit may be

brought to less than one year. Duty of insurance commissioner if

he finds company not incorporated in this state to be in un

sound condition. Accounts of receivers of insolvent

companies to be submitted to commissioner before presented to

court. Receivers to make report to com

missioner an ally. No person to act as agent until he

has complied with laws of this

state. Agent of company of other state or

foreign countries which has not been permitted to transact business in state personally liable upon contracts.

52.

53.

Sec.

SEC. 54.

67.

55.

68.

56.

69.

57. 58.

70.

59.

71.

60. 61.

Companies incorporated in this

state to file copy of charter, etc.,

with insurance commissioner.
When certificate authorizing com-
pany to issue policies, to

be
granted.
Persons shall not act as agent

without first securing certificate

of authority.
Penalty for violations.
Certificates or licenses; how long

to continue in force.
Amount of fine, where penalty not

provided for violations in pre

ceding sections.
Provisions relating to insurance

companies other than life or
fire; requirements before doing

business in this state.
What deemed domestic and what

deemed foreign companies.
Penalty for fraudulently represent-

ing insured person as dead.
Insurance companies incorporated

under laws of other states to re-
port annually; what report to
contain; duty of commissioner

upon receipt of report.
Insurance companies organized

under laws of foreign govern-
ment to report annually; what

report to contain; license tax. Cancellation of fire insurance poli

cies; notice given to insured. Laws of state of New York, re

garding fire insurance issued, to be applicable to insurance issued in

this state, with changes deemed proper by commissioner. No conditions valid unless stated

in policy or attached thereto. Mutual companies shall cause to

appear in body of policy the total amount for which assured

may be liable. Assessor's duty as to transmission

of list of companies doing busi

ness within his district. Papers required to be deposited

with commissioner shall be re

ceived as evidence in courts. License tax paid by foreign insur.

ance companies; rate of tax. Duties of secretary of state as to

issuance of certificate of incor

poration. Fire and marine insurance com

panies to furnish statement in connection with report; what

statement to contain. Word "company" defined; incon

sistent acts repealed.

72.

62. 63.

73.

64.

74.

65.

75.

66.

76.

Be it enacted by the Legislature of West Virginia:

That chapter thirty-four of the code of West Virginia be revised, amended and re-enacted so as to read as follows:

Sec. 1. The auditor of this state is hereby made and shall be the insurance commissioner of this state; he shall be repaid his actual disbursements for traveling expenses, not exceding one thousand dollars in any cne year, an itemized account of which shall be filed with the board of public works and be audited by it before payment thereof; he shall be provided with furniture, clerical assistance and actuaries and other help as shall be necessary; such clerical assistance and actuaries to be appointed by the auditor and their compensation fixed by him and paid by the auditor's warrant drawn on the treasurer.

Sec. 2. The commissioner shall see that all laws respecting insurance companies are faithfully executed; may employ clerical aid; shall furnish to each insurance company doing business in this state printed forms of the statements required by law; shall on or before the tenth of each month pay into the state treasury all the fees which he may have received during the month previous, and may administer oaths in the discharge of his duties; he shall report to the governor changes which in his opinion, should be made in the laws relating to insurance.

Sec. 3. The insurance commissioner may from time to time examine the methods of business of any company, corporation, association, partnership, or combination of persons doing any kind or form of insurance business in this state, and may require them to answer such questions as he may think necessary for the purpose of such inquiry; and if in his opinion, any such company, corporation, association, partnership or combination of persons is doing business in an illegal, improper or unjust manner, or failng to adjust and pay losses and obligations when they become due, excepting claims to which there is a substantial defense, he may order it to discontinue such illegal or improper method of doing business and may order it to adjust and pay its losses and obligations as they become due.

Sec. 4. If any such company, corporation, association, partnership, or combination of persons shall fail within ten days to obey any such order of the commissioner, he may apply to a court or judge having jurisdiction for an injunction or for the appointment of a receiver, or for both, and such court or judge may enforce such order of the commissioner by injunction, or by appointing a receiver to take charge of the property and affairs of such company, corporation, association, partnership or combination of persons, or both; and may make all such further orders as may be necessary or proper to carry into effect such an injunction and receivership.

Sec. 5. The commissioner shall demand and receive the following fees from all insurance companies :--for annual fee for each lincese, ten dollars; for receiving and filing annual reports, ten dollars; for valuation of policies of life insurance companies organized under the laws of this state, one cent for each one thousand dollars of insurance; for valuation of policies of life insurance companies organized under the laws of any other state admitted to transact business in this state, such rate for each one thousand dollars of insurance valued as is imposed by such other state upon any similar insurance company organized under the laws of this state admitted to transact business in such other state; for filing any additional paper required by law, twenty-five cents; for every certificate of valuation, copy of report of certificate of condition of company to be filed in any other state, five dollars; for each agent's certificate of authority and copy of report, five dollars.

Sec. 6. The commissioner shall annually submit to the governor a report of his official acts, and condition of insurance companies

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