Bank
balances.

claims.

losses.

annual election, giving the names of candidates and the
number of votes cast for each and whether in person,
by proxy or by mail. (8) The salary, compensation Salaries.
and emoluments received by officers or directors, with-
out exception, and that received by any person, firm or
corporation, where the same amounts to more than five
thousand dollars, with particulars as to dates, amounts,
payees and the authority by which the payment was
made; also all salaries paid to any representative either
at the home office, or at any branch office, or agency,
for agency supervision. (9) The largest balances car-
ried in each bank or trust company during each month
of the year.
(10) All death claims resisted or com- Certain death
promised during the year, with particulars as to sums
insured, sums paid and reasons assigned for resisting or
compromising the same in each case. (11) A complete Profits and
statement of the profits and losses upon the business.
transacted during the year and the sources of such gains
and losses, and a statement showing separately the mar-
gins upon premiums for the first year of insurance and
the actual expenses chargeable to the procurement of new
business incurred since the last annual statement. A com-
pany, issuing both participating and non-participating
policies, shall make a separate statement of profits and
losses, margins and expenses, as aforesaid, with refer-
ence to each of said kinds of business, and also showing
the manner in which any general outlays of the company
have been apportioned to each of such kinds of business.
(12) The rates of annual dividends declared during the Dividends.
year for all plans of insurance and all durations and for
ages at entry, twenty-five, thirty-five, forty-five and fifty-
five, or as near as may be, and the precise method by
which such dividends have been calculated. (13) A Dividends on
statement showing the rates of dividends declared upon dividend
deferred dividend policies completing their dividend policies.
periods for all plans of insurance, and for ages at entry,
twenty-five, thirty-five, forty-five and fifty-five, or as
near as may be, and the precise methods by which said
dividends have been calculated. (14) A statement show- Amounts set
ing any and all amounts set apart or provisionally ascer-
tained or calculated or held awaiting apportionment
upon policies with deferred dividend periods longer than
one year for all plans of insurance and all durations,

deferred

apart.

together with the precise statements of the methods of calculation by which the same have been provisionally or Reserve fund. Otherwise determined. (15) A statement of any and all reserve or surplus funds held by the company and for what purpose they are claimed, respectively, to be held.

Final date of rendering statements.

Section 72 amended.

Examination

into affairs of

insurance

companies.

Expenses met

examined.

The rendition of the statement or statements required under subdivision eleven may be postponed until not later than the thirtieth day of June following the year for which required, in all cases where a company shall state that it is unable to comply with the requirements of said subdivision satisfactorily at the time of making its statement of the other details required herein.

6. Section seventy-two of the act to which this is an amendment is hereby amended to read as follows:

72. The Commissioner of Banking and Insurance shall have the power, whenever he deems the same expedient, to make or cause to be made, an examination of the assets and liabilities, method of conducting business and all other affairs of every insurance company authorized to transact business in this State, and shall make such an examination of every domestic life insurance company at least once in three years. For the purpose of such an examination the commissioner may commission and employ such persons to conduct the same or to assist therein as he may deem advisable, which examination may be conducted in any State or country in which the company examined is incorporated or has an office, agent or place of business.

The reasonable expenses of such examination shall by corporation be fixed and determined by the Commissioner of Banking and Insurance, and he shall collect the same from the corporation examined, which shall pay same on presentation of a detailed account of such expenses.

If company insolvent.

No gratuities.

In case any company, after such examination, shall be declared by the Chancellor to be insolvent, the expense of such examination, if unpaid, shall be taxed in the costs of the proceeding in the Court of Chancery and paid out of the assets of the company.

No insurance corporation shall, either directly or indirectly, pay, by way of gift, credit or otherwise, any other or further sum to the commissioner or to any

person in the employ of the insurance department, for extra service or for purposes of legislation, or for any other purpose whatsoever.

7. This act shall take effect immediately. Approved April 15, 1907.

CHAPTER 74.

An Act to amend an act entitled "An act relating to life insurance companies doing business in the State of New Jersey and to the representatives of such companies," approved March nineteenth, eighteen hundred and ninety-five.

Be it enacted by the Senate and General Assembly

of the State of New Jersey:

1. Section one of the act to which this is an amend- Section ment is amended to read as follows:

amended.

1. No life insurance company doing business in this No favoritism. State shall make or permit any distinction or discrimination in favor of individuals between the insured of the same class and equal expectation of life in the amount or payment of premiums or rates charged for policies of life or endowment insurance, or in the dividends or other benefits payable thereon, or in any other of the terms and conditions of the contracts it makes; nor No rebate. shall any such company or agent thereof make any contract of insurance or agreement as to such contract other than as plainly expressed in the policy issued thereon; nor shall any such company, or any officer, agent, solicitor or representative thereof, pay, allow or give, or offer to pay, allow or give, directly or indirectly, as inducement to insurance, any rebate of premium payable on the policy, or any special favor or advantage in the dividends or other benefits to accrue thereon, or any paid employment or contract for services of any kind, or any

Agent's commission uniform.

valuable consideration or inducement whatever not specified in the policy contract of insurance.

No life insurance company doing business in this State, and issuing policies both upon the participating and non-participating plan, shall, on or after the first day of January, nineteen hundred and eight, make any distinction in the rate of commission or in the compensation paid to an agent based upon the participating or non-participating character of any policy issued through said agent.

2. This act shall take effect immediately.
Approved April 15, 1907.

Section amended.

Commissioner of charities.

Term.

Salary.

Section

amended.

CHAPTER 75.

An Act to amend an act entitled "An act to create the office of Commissioner of Charities and Corrections, and to define his powers and duties," approved March twenty-fifth, one thousand nine hundred and five.

BE IT ENACTED by the Senate and General Assembly of the State of New Jersey:

1. Section one of the act to which this act is amendatory be and the same is hereby amended to read as follows:

1. The office of Commissioner of Charities and Corrections is hereby established for this State. This office shall be filled by some suitable person who shall be nominated by the Governor and confirmed by the Senate; he shall hold office for the term of three years from the date of his appointment and until his successor is appointed and has qualified; said commissioner shall receive a salary of four thousand dollars per annum and shall have his office in the State House.

2. Section five of the act to which this act is amendatory be and the same is hereby amended to read as follows:

Assistant,

5. Said commissioner may appoint, subject to the ap- salary. proval of the Governor, an assistant, who shall be an architect by profession, at a salary not to exceed three thousand six hundred dollars per annum, who shall devote all his time to the duties of the office; said commissioner shall select and employ necessary clerical Clerical help. assistants, who shall receive such compensation as shall be approved by the Governor. The salaries of these assistants shall be paid monthly by the Treasurer upon the warrant of the Comptroller.

3. This act shall take effect immediately. Approved April 15, 1907.

CHAPTER 76.

An Act to make the proceedings of the Department of New Jersey of the Grand Army of the Republic a part of the military archives of the State and to provide for the printing of the same.

Be it enacted by the Senate and General Assembly of the State of New Jersey:

I. Whenever the commander of the Department of New Jersey, Grand Army of the Republic, shall forward to the Adjutant-General of New Jersey a properly prepared and duly certified copy of the proceedings of their annual encampments, together with a complete series of the general and special orders, circulars and other data which may form a part of said proceedings, then the said proceedings, so reported, shall be considered part of the military archives of this State, and, in the discretion and under the direction of the AdjutantGeneral of New Jersey, such part of said proceedings as he shall approve shall be printed and bound; and a printed and bound copy thereof shall be sent to each Grand Army post, and to each public library, in the State of New Jersey, together with an additional fifty

Records and part of mili tary archives

of State.