Chap. 25.—An ACT relating to the issuance of fire insurance policies through

an underwrighters’ agency, and providing a penalty for its violation.
7 (S. B. 19)
Approved February 5, 1915.

1. Be it enacted by the general assembly of Virginia, That every
fire insurance company shall conduct its business in this State in the
name by which it is incorporated, and the policies issued by it shall
be headed or entitled by such name. There shall not appear on the
face of the policy or on its filing back anything that would indicate
that it is an obligation of any other than the company responsible for
the payment of losses under the policy, and the name or names of any
fire insurance companies issuing policies through an underwriters’ agency
shall be stamped or printed on each policy issued by such underwriters’
agency, and shall show on each such policy the name of such company
or companies, and, where there is more than one company, their propor-
tion of liability under said policies shall be distinctly stated therein.

The words “underwriters’ agency,” as used in this act, shall be held
to apply to a company or companies who issue policies severally or jointly
under a name other than their own corporate name, or under a con-
tract or agreement with any individual, partnership, corporation or asso-
ciation through whom such policies may be issued.

Before an underwriters’ agency shall deliver, or cause to be delivered,
a policy in this State it shall pay an annual specific license tax of two
hundred dollars for the privilege of doing business in this State as an
underwriters’ agency, and shall also deposit with the State treasurer
bonds equal in amount to those deposited by the company or companies
whose policies they issue, as required by section fourteen, chapter two
of “An act concerning the bureau of insurance,” approved March ninth,
nineteen hundred and six, and no company shall be permitted to issue
an underwriters’ policy, or be a party thereto, which has not complied
with all of the laws now in force relative to fire insurance companies.
Provided, that nothing herein shall be construed to exempt any fire
insurance company from the payment of the license tax on premiums
required by the laws of this State.

2. Any violation of this act shall be deemed a misdemeanor, and,
upon conviction, shall be punished by a fine of not less than fifty nor
more than five hundred dollars.