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the said Normal School Fund shall be, and the same are hereby, appropriated and set apart for the support and maintenance of the said Albian State normal school and that the same shall be, and they are hereby, made available for such purpose immediately upon their being credited to the said fund.
SEC. 5. That one-half of all the moneys which may accrue to the said Normal School Fund during the years 1905 and 1906 shall be, and the same are hereby, appropriated for the support and maintenance of the said Lewiston State normal school during the period beginning on the first Monday in January, 1905, and ending on the firs Monday in January, 1907.
SEC. 6. That perpetually from and after the first day of January, 1907, one-half of all moneys which may accrue to the said Normal School Fund shall be, and the same are hereby, appropriated and set apart for the support and maintenance of the said Lewiston State normal school and that the same shall be and they are hereby made available for such purpose immediately upon their being credited to the said fund.
Sec. 7. That all acts and parts of acts in conflict with this act are hereby repealed.
SEC. 8. Whereas, an emergency exists therefor this act shall be in force from and after its passage and approval.
Approved on the 6th day of March, 1905.
SENATE BILL NO. 113.
10 OF AN ACT APPROVED FEBRUARY 23, 1899, ENTITLED
DOING BUSINESS IN THIS STATE.
SECTION 1. That sections 2, 3, 8, 9 and 12 of an act of the Legislature approved February 23, 1899, entitled “An act regulating surety companies and authorizing the giving and guaranteeing of judicial, official and other bonds by such companies,” be and the same are hereby amended to lead as follows:
Section 2. Such company must be authorized under the laws of the State where incorporated, and under its charter or articles of incorporation to become surety upon such bond, undertaking, obligation, recognizance or guaranty; must have a fully paid-up and safely invested and unimpaired capital of at least two hundred fifty thousand dollars ($250,000); must have good available assets exceeding its liabilities, which liabilities for the purpose of this act shall be taken to be its capital stock, its outstanding debts, and a premium reserve at the rate of fifty (50) per centum of the current annual premiums on such outstanding bonds, undertakings, recognizances and obligations of like character in force. Such company must, before beginning to do business in this State, file with the Secretary of State a certified copy of its charter or articles of incorporation and must also designate an agent resident within this State upon whom process may be served, in compliance with the statutes of this State relating to foreign corporations doing business within this State. Such company shall, at the time of filing its charter or articles of incorporation with the Secretary of State, make application, in writing, to the State insurance commissioner, to be authorized to do business in this State under this act, and shall pay the fee hereinafter provided and shall, at the time of such application, and also, on or before the 30th day of April of each year file with the State insurance commissioner a statement, verified under oath, made up to December 31st preceding, stating the amount of its paid up cash capital, particularizing each item of investment, the amount of premiums upon existing bonds, undertakings, recognizances and obligations of like character in force upon which it is surety, the amount of liability for unearned portions thereof estimated at the rate of fifty (50) per centum of the current annual premiums on each such bond, undertaking, recognizance and obligation in force and stating the amount of its outstanding obligations of all kinds. Such company, if it be organized under the laws of any other State shall, before any certificate of authority to do business in this State shall issue, and if already doing business in this State, on or before April 30, 1905, deposit with the Treasurer of this State, money, bonds or other securities to be approved by the State insurance commissioner, to the actual value of not less than twenty-five thousand ($25,000.00) dollars, said money, bonds or other securities so deposited shall be for the benefit of the holders of the obligations of such company to remain with said Treasurer in trust to answer any default of said company as surety upon any such obligation, established by final judgment upon which execution may lawfully be issued against said company, such company, however, at all times to have the right to collect the interest, dividends and profits upon such securities, and from time to time to withdraw such securities or portions thereof, substituting therefor others of equally good character and value to the satisfaction of said commissioner and such securities shall not be sold under any process against such company until after forty (40) days' notice to said company specifying the date, place and manner of such sale, and the process under which and purposes for which it is to be made, accompanied by a copy of such process. The State of Idaho shall be held responsible for the safety of all deposits made under the provisions of this act. Such company shall not be permitted to withdraw from the State Treasurer such deposit of moneys, bonds or other securities for a period of one year after discontinuing business within this State or while any suit is pending or any judgment against said company in this State shall remain unpaid. Said deposit shall at all times be maintained at said sum of twenty-five thousand dollars ($25,000) or more, and for a failure for a period of forty days, after notice by the State insurance commissioner, given by registered letter addressed to the president of said company at its home office, to replenish and so maintain the same, the authority of said company to do business in this State shall be revoked by the State insurance commissioner.
SEC. 3. The State insurance commissioner, upon due proof that such company possesses the qualifications specified in this act, and that it has in all things complied with the laws of this State relating to surety companies or applicable thereto, shall issue to such company a certificate authorizing said company to do business until and including April 30 thence next ensuing, and thereafter such certificate shall issue on April 30th as hereinbefore provided, for a period of one year; and said certificate shall be evidence of the authority of such company to do business in this State and to become and to be accepted as sole surety on all private bonds and contracts, and on all bonds, undertakings, recognizances and obligations required or permitted by law or the charter, ordinances, rules or regulations of any municipality, board, body, organization or public officer and of the solvency and credit of such company for all authorized purposes and its sufficiency as such surety; and any judge, court or officer, whose duty it is to pass upon the account of any assignee, trustee, receiver, guardian, executor, administrator or other fiduciary required by law to give bond or undertaking as such, and whenever such assignee, receiver, trustee, guardian, executor, administrator or other fiduciary, has given bond or undertaking with a surety company or companies as surety or sureties thereon, as herein provided, shall allow in the settlement of the account of such assignee, receiver, trustee, guardian, executor, administrator or other fiduciary a reasonable premium, subject to the limitations hereinafter provided, paid to any such company or companies for becoming his surety on such bond or undertaking, in all other cases, whereby the foregoing provisions of this act a corporate surety or guarantor is given or required, except notaries public, the premium to be paid to any such company or companies for becoming such surety or guarantor shall be paid out of the general funds of the divisions of government by or for which the person giving such bond or undertaking was appointed or elected : Provided, however, That the premium shall in no case exceed in the aggregate one-half of one per cent per annum on the amount of such bond or undertaking: Provided, also, That such company or companies have complied and continue to comply with the laws of this State relative to such companies.
SEC. 8. All surety companies doing business in this State shall pay fifty dollars ($50) to the State insurance commissioner at the time of filing its articles of incorporation with the Secretary of State and shall take a receipt therefor, in duplicate, and file such duplicate with the Secretary of State. Such company shall likewise pay to the State insurance commissioner annually, in advance, a license fee of fifty dollars ($50) on or before April 30th of each year, and no certificate of authority to do business for such year shall be issued unless such annual fee pe paid. License money so collected shall be paid by the State insurance commissioner to the State Treasurer, and a receipt therefor taken, in duplicate, one to be filed with the State Auditor, and the other preserved in the office of such insurance commissioner. All moneys so paid shall be placed to the credit of the general fund.
SEC. 9. Whenever any surety company, not organized under the laws of the State of Idaho, shall have complied with the laws of this State as in this act and as otherwise by law provided, it shall be the duty of the insurance commissioner of this State on the first day of the next succeeding month, to send to the county recorder of each county in this State, a notice, stating that such surety company has complied with the laws of this State and is authorized to write risks of the kind and character authorized in its certificate of authority, to do business, stating therein in general terms, the risks authorized to be written by such company. Such notice shall be issued by said insurance commissioner over his signature and seal of office and shall be received in evidence as a sufficient justification of such surety, and of its authority to do business in this State until the end of the insurance year in which the same may have been issued or until notice be given of withdrawal from, or of cancellation of its license to do business in this State. Such certificate shall be kept on file in the office of the county recorder of the respective counties, subject to inspection as other public records, and any party interestea may have certified copies thereof which shall be admissible in evidence with like effect as the original. If any company shall withdraw from this State, or if its license be cancelled, the insurance commissioner shall give notice of such withdrawal from the State or cancellation of license to do business, forth with, by mailing certificate of such fact to the county recorder of each county of the State and also by sending notice to each agent resident within the State authorized to do business for said company, as shown by the records of his office, at the address shown in his said records. The certificates of authority to be sent monthly as in this section provided shall include in one certificate all companies which have been authorized to do business during the preceding month, and may also include all companies which have withdrawn, or whose certificate of authority may have been cancelled during such month, and unless deemed for the public interest, that