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of members, and the said constitution, by-laws, rules and regulations to amend and alter from time to time. Notwithstanding the provisions of this act, a constitution so adopted may create a board of consultors to take the place of the council provided for in section two, may abolish offices created by this act and establish new offices, may provide for the election of officers otherwise than by the members of the corporation and may classify officers, and change the terms and regulate the elections thereof; and a constitution so adopted may provide that it shall become operative on the conditions and at the time specified therein.

§ 2. This act shall take effect immediately.

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L. 1909, ch. 33, $ 70, subd. 5 amended.

Insurance against certain losses.

CHAPTER 201
-AN ACT to amend the insurance law, in relation to powers of life, health

and casualty insurance corporations.
Became a law April 1, 1925, with the approval of the Governor. Passed,

three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows:

Section 1. Subdivision five of section seventy of chapter thirtythree of the laws of nineteen hundred and nine, entitled “An act in relation to insurance corporations, constituting chapter twentyeight of the consolidated laws," as last amended by chapter eight hundred and fourteen of the laws of nineteen hundred and twentythree, is hereby amended to read as follows:

5. Against loss by burglary, theft, larceny, forgery, vandalism or malicious mischief, the wrongful conversion, disposal, or concealment of automobiles held under a conditional sale contract or subject to a chattel mortgage, or any one or more of such hazards. Any corporation authorized to transact business as hereinbefore mentioned in this subdivision if possessed of a capital of at least two hundred thousand dollars, may, by taking the proceedings required in section fifty-two of this chapter, amend its charter so as to include therein the insurance of jewelers and other persons engaged in the business or trade of manufacturing, buying, selling or dealing in, cutting or setting of precious stones, jewels, jewelry, gold, silver and other precious metals, whether as principals, agents, brokers, factors or otherwise, against any and all risks of loss, damage, injury, deterioration, loss of use or liability arising from or in connection with such business or trade. Such insurance shall be known and designated as “jewelers' block insurance" and made under a policy upon the face and outside cover of which shall be printed in bold face type the words “jewelers' block policy."

§ 2. This act shall take effect immediately.
1 Remainder of section new.

2 Previously amended by L. 1909, ch. 302; L. 1910, ch. 637; L. 1911, ch. 324; L. 1912, ch. 232; L. 1913, cha 304; L. 1914, ch. 204; L, 1920, cho 563; L. 1921, ch. 408.

3 Remainder of subd. 5 new.

subd. 4 amended.

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CHAPTER 202
AN ACT to amend the insurance law, in relation to the investment of insur-

ance companies other than life.
Became a law April 1, 1925, with the approval of the Governor. Passed,

three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows:

Section 1. Subdivision four of section sixteen of chapter thirty- L. 1909, three of the laws of nineteen hundred and nine, entitled “An act $ 16, in relation to insurance corporations, constituting chapter twentyeight of the consolidated laws,' such section having been last amended by chapter six hundred and six of the laws of nineteen hundred and twenty-three, is hereby amended to read as follows:

4. No such funds of any domestic insurance corporation shall Invest! be invested in or loaned on its own stock, nor invested in or loaned regulated.

on the stock of any insurance corporation, nor invested in or loaned !

on the stock of any corporation which has invested in or loaned any of its funds on the stock of any insurance corporation or which has invested in or loaned any of its funds on the stock of any corporation having an investment, interest or equity of any

nature or description in the stock of an insurance corporation, ex*cept as herein provided. In the case of a stock insurance corpora

tion, other than life, it may invest not more than fifty per centum # of its surplus funds directly in the stocks of other insurance cor2 porations. Such domestic insurance corporation other than life

may invest in or loan its funds on the stocks, bonds or other evisi dence of indebtedness of any solvent institution incorporated un(der the laws of the United States or of any state thereof, notwith* standing that such institution has an investment, interest or equity

of any nature or description in the stocks of any insurance corporation or corporations, including the stock of the investing insurance corporation, provided that such investment, interest or equity is not in the aggregate in excess of five per centum of the total gross assets of such institution. In determining the condition of any domestic insurance corporation investing its funds as herein permitted in the stock of an insurance company, the superintendent of insurance shall only allow such stock as an asset at the value ascertained by dividing the aggregate amount of the surplus and capital of such insurance company by the number of its shares of capital stock issued.

§ 2. Subdivision ten of section sixteen of such chapter, such sec- $ 16, tion having been last amended by chapter six hundred and six of the laws of nineteen hundred and twenty-three,is hereby amended to read as follows:

1 Previously amended by L. 1909, chs. 240, 302; L. 1910, ch. 634; L. 1911, ch. 150; L. 1912, ch. 233; L. 1913, ch. 304; L. 1917, cha 301; L. 1920, ch. 422; L. 1921, ch. 255.

2 Subd. 4 materially amended. 3 Previously amended by L. 1909, chs. 240, 302; L. 1910, ch. 634; L. 1911, ch. 150; L. 1912, ch. 233; L. 1913, ch. 304; L. 1917, ch. 301; L. 1920, ch. 422; L 1921, ch. 255.

subd. 10 amended,

Investment of residue of assets.

10. The residue of the assets of every domestic mutual insurance corporation, over and above said amount, may be invested in, or loaned on the pledge of, the same class of securities or property as specified in this chapter for the investment or loan of the residue of the capital and the surplus money and funds of like domestic stock insurance corporations, including, subject to the approval of the superintendent of insurance, investment in the stock of any insurance company.

§ 3. This act shall take effect immediately.

CHAPTER 203

AN ACT to amend the insurance law, in relation to the transaction of

marine insurance.

L. 1909, ch. 33, $ 150, subd. 1, 1 (b) amended.

Became a law April 1, 1925, with the approval of the Governor. Passed,

three-fifths being present. · The People of the State of New York, represented in Senate and Assembly, do enact as follows:

Section 1. Paragraph (b) of subdivision one of section one nundred and fifty of chapter thirty-three of the laws of nineteen hundred and nine, entitled “An act in relation to insurance corporations, constituting chapter twenty-eight of the consolidated laws,as last amended by chapter four hundred and thirty-seven of the laws of nineteen hundred and twenty-three, is hereby amended to read as follows:

(b) Person or to property in connection with or appertaining to a marine, inland marine, transit or transportation insurance, including liability for loss of or damage to either, arising out of or in connection with the construction, repair, operation, maintenance or use of the subject matter of such insurance (but not including life insurance or surety bonds); but, except as herein specified, shall not mean insurances against loss by reason of bodily injury to the

Marine insurance, loss covered.

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person, and

1(c) added to

150. subd. 1.

§ 2. Subdivision one of section one hundred and fifty of such chapter, as last amended by chapter four hundred and thirtyseven of the laws of nineteen hundred and twenty-three, is hereby amended by adding a new paragraph, to be paragraph (c), to read as follows:

(c) Precious stones, jewels, jewelry, gold, silver and other precious metals, whether used in business or trade or otherwise and whether the same be in course of transportation or otherwise.

$ 3. This act shall take effect immediately.

Same.

4 Remainder of subd. 10 new.

1 Previously amended by L. 1909, ch. 240; L. 1910, ch. 168; L. 1911, ch. 126; L. 1917, ch. 294; L. 1919, ch. 392; L. 1920, ch. 415; L. 1921, ch. 236. 2 Word “,

and

new.

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CHAPTER 204 AN ACT making an appropriation to discharge all unpaid obligations for

services rendered and money advanced for labor and materials in the construction and completion of the flood abatement improvement in connection with the waters of Allegany river and Olean creek, provided for by chapter seven hundred and seventeen of the laws of nineteen hundred

and fifteen, and in the recovery of the amount thereof. Became a law April 1, 1925, with the approval of the Governor. Passed,

three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows:

Section 1. In order to discharge all unpaid obligations with interest to date of approval for services rendered and money advanced for labor and materials, in the construction and coinpletion of the flood abatement improvement in connection with the waters of Allegany river and Olean creek, authorized by chapter seven hundred and seventeen of the laws of nineteen hun. dred and fifteen, and in the recovery of the above specified amount, which was paid into the state treasury in satisfaction of a judgment recovered in an action instituted against the surety on the contract for such improvement, the sum of eighteen thousand three hundred and twenty-two dollars and seven cents ($18,322.07), or so much thereof as may be necessary, is hereby appropriated out of any money in the treasury not otherwise appropriated. Such money shall be payable by the treasurer upon the warrant of the comptroller on vouchers audited and approved by the superintendent of public works.

§ 2. This act shall take effect immediately.

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CHAPTER 205
AN ACT making appropriations for the commissioner of farms and markets

for the payment of claims arising from the destruction of diseased animals,

pursuant to the farms and markets law. Became a law April 1, 1925, with the approval of the Governor. Passed,

three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows:

Section 1. The several amounts hereinafter named, or so much
thereof as shall be sufficient to accomplish the purposes designated
by the appropriations, are hereby appropriated from any moneys
in the state treasury not otherwise appropriated, for the several
purposes specified, such appropriations to be immediately available
and to be paid out on the order of the commissioner of farms and
markets as provided in the farms and markets law, namely:
For the payment of indemnities on account of tuber-

culous bovine animals killed pursuant to condem-
nation or order made prior to January first, nine-
teen hundred and twenty-six, the sum of ...... $2,000,000.00
not more than $500,000, of which shall be used

for the payment of such indemnities upon account
of bovine animals killed pursuant to condemna-
tion or order made prior to July first, nineteen
hundred and twenty-five.
§ 2. This act shall take effect immediately.

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CHAPTER 206
AN ACT making appropriations for the support of government to replace

certain items vetoed by the governor in chapters one hundred and eighty.
one and one hundred and eighty-two of the laws of nineteen hundred and
twenty-five and including provisions relating to certain appropriations

made by such chapters. Became a law April 1, 1925, with the approval of the Governor. Passed

by a two-thirds vote. The People of the State of New York, represented in Senate and Assembly, do enact as follows:

PART I Section 1. The several amounts named in this section, or so much thereof as shall be sufficient to accomplish the purpose designated by the appropriations, are hereby appropriated and authorized to be paid as hereinafter provided, to the respective public officers and for the several purposes specified, which amounts shall be available for the year beginning on the first day of July, nineteen hundred and twenty-five, namely:

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Appropriations for fiscal year.

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MAINTENANCE AND OPERATION
Equipment, supplies and materials:
The appropriation in part I, chapter 181, laws of 1925, for

"equipment, supplies and materials” is hereby made avail-
able for "equipment, supplies and materials, including the

purchase or exchange of an automobile."
Expenses, including personal service to carry out the provisions

of chapter 309, laws of 1924. ...

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STATE COMPTROLLER

PERSONAL SERVICE
Comptroller
Deputy comptroller..
Deputy comptroller.
Deputy comptroller...
Secretary to comptroller, also receives $1,500 as secretary of

canal board
Division chief, 2 at $5,000.
Director
Assistant director.
Warrant clerk and assistant deputy comptroller.
Auditor of securities.
Supervising accountant and auditor of revenues.
Auditor
Executive auditor.
Auditor of printing.
Chief accountant.
Auditor

Labo

4,000 00 10,000 00 5,000 00 5,000 00 0,000 00 4,000 00 5,000 00 3,600 00 6,000 00 4,000 00 4,250 00 4,500 00

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