CONCERNING INSURANCE COMPANIES.
The Committee on Judiciary reported on the bill [H. R. 344]--See page 36 of these Reports] concerning Insurance Companies, recommending its passage with amendments.
The report was concurred in.
Mr. MILES moved to indefinitely postpone the bill.
Mr. BUSKIRK thought this should not be done, because the Revision Committee prepared it carefully, spending much time and money, and he favored treating the bill in a respectable manner by taking a vote upon it.
Mr. FULLER said: I am opposed to this sitting down on bills by indefinite postponement. When they come up upon their final passage, vote them down upon their merits or demerits. In the condition the bill is in now, I am opposed to it myself, but I have some amendments to offer which will probably improve the bill so that the House page: 158[View Page 158] will vote for it, an I hope the bill will have its course in the calendar.
The motion to indefinitely postpone was withdrawn.
Mr. CARTER moved to amend section 93 by adding to the end thereof the following:
"Or to Insurance Companies organized under special charters granted in this State prior to the adoption of the present Constitution."
He said there are threee or four Companies in the State of Indiana doing business under charters granted before th adoption of the present Constitution. The amendment to Section 93 excepts from the operation of the bill all Insurance Companies organized under special charters granted previous to the adoption of the present Constitution. Such Companies being governed by the provisions of the special acts under which they were organized, the Legislature has no power to subject them to the provisions of the general law on the subject of insurance. Consequently, this amendment should be adopted.
It was agreed to by the House.
Mr. HUSTON moved to amend line 64 by inserting after the word "State" the words "so far as the same requires such Society or Association to have assets in any stated amount."
The amendment was rejected.
Mr. RYAN moved to amend the bill by removing the discrimination between foreign and domestic Insurance Companies, and that the bill be recommitted with instruction to incorporate such amendments as shall put all Insurance Companies on an equality as to furnishing statements and the publication of the same in newspapers.
Mr. MILES--I am very anxious to see the time when we will have good Insurance Companies organized in the State of Indiana. I am satisfied from my observation that we will never have such a state of affairs until the discrimination between home and foreign Insurance Companies is dispensed with. If we would require home Companies to publish as other Companies do, then the people would have confidence in them.
Mr. FULLER-The rcommittal of this bill at this time only means the death-knell of the bill, from the fact that we have not time at this stage of the session to refer such a bill back and get it through both Houses. I think the bill can be amended right here and voted upon. Either pass the bill or defeat it. I move that the motion lie on the table.
The motion to table was rejected, and the motion to recommit the bill prevailed.
