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 Title Page
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Title: Annual report of insurance business transacted in the Canal Zone, including laws concerning licensing of insurance companies during the calendar year
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 Material Information
Title: Annual report of insurance business transacted in the Canal Zone, including laws concerning licensing of insurance companies during the calendar year
Physical Description: v. : ; 21 cm.
Language: English
Creator: Canal Zone -- Office of the Governor
Publisher: Canal Zone Government
Place of Publication: Balboa Heights, C.Z
Publication Date: 1975
Frequency: annual
regular
 Subjects
Subject: Insurance -- Periodicals -- Panama -- Canal Zone   ( lcsh )
Insurance -- Law and legislation -- Periodicals -- Panama -- Canal Zone   ( lcsh )
Genre: government publication (state, provincial, terriorial, dependent)   ( marcgt )
Spatial Coverage: Panama
 Record Information
Bibliographic ID: UF00097362
Volume ID: VID00014
Source Institution: University of Florida
Holding Location: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 05917385

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Table of Contents
    Front Cover
        Front Cover 1
        Front Cover 2
    Title Page
        Title Page 1
        Title Page 2
    Letter of transmittal
        Page 1
        Page 2
        Page 3
        Page 4
    Main
        Page 5
        Page 6
        Page 7
        Page 8
        Page 9
        Page 10
        Page 11
        Page 12
        Page 13
        Page 14
        Page 15
        Page 16
        Page 17
        Page 18
        Page 19
        Page 20
        Page 21
        Page 22
        Page 23
        Page 24
        Page 25
        Page 26
        Page 27
        Page 28
        Page 29
        Page 30
        Page 31
        Page 32
        Page 33
        Page 34
    Back Cover
        Page 35
        Page 36
Full Text
24 vcv. v- 43-A..
V







CANAL ZONE GOVERNMENT


ANNUAL REPORT
OF

INSURANCE BUSINESS

transacted in the

CANAL ZONE

DURING THE CALENDAR YEAR

1975



Including Laws Concerning Licensing
Of Insurance Companies











CANAL ZONE GOVERNMENT
OFFICE OF THE GOVERNOR
BALBOA HEIGHTS, July 19, 197G.
GOVERNOR OF THE CANAL ZONE,
Balboa Heights, C.Z.
Sm: There is submitted herewith a report of insurance business
transacted in the Canal Zone during the calendar year 1975.
Respectfully,
J. PATRICK CONLEY,
Executive Secretary.


The following companies were authorized to transact business in the
Canal Zone during the year 1975.
Aetna Casualty and Surety Company --------------__Hartford, Conn.
American-Amicable Life Insurance Company-- Birmingham, Ala.
American Capitol Insurance Company ----- --Houston, Tex.
American Continental Life Insurance Company-- Phoenix, Ariz.
American Defender Life Insurance Company_ Raleigh, N.C.
American Employers' Insurance Company-- Boston, Mass.
American Fidelity Life Insurance Company Pensacola, Fla.
American Home Assurance Company -------------New York, N.Y.
American International Life Assurance Company of New York-
New York, N.Y.
American Motorists Insurance Co. ------- ---------- Chicago, Ill.
American Re-Insurance Company --------------- New York, N.Y.
Atlantic Southern Insurance Co. of Puerto Rico -------San Juan, P.R.
Bankers Life Insurance Company of America ----------Dallas, Tex.
Beneficial National Life Insurance Company ---- New York, N.Y.
Citizens Standard Life Insurance Company ----Corpus Christi, Tex.
Colonial Insurance Company of Panama ----------Panama, R. of P.
lAmerican Motorists Insurance Co. discontinued doing business in the Canal Zone effective
August 28, 1975.






Compafiia General de Seguros, S.A.--------------Panama, R. of P.
Companiia Interamericana de Seguros, S.A.---- .-Panama, R. of P.
Compafiia Internacional de Seguros, S.A.--------- Panama, R. of P.
Companiia Nacional de Seguros, S.A.------ -- Panama, R. of P.
Continental Casualty Company ------------------ Chicago, Ill.
Continental Insurance Company----- New York, N.Y.
Executive Fund Life Insurance Co.------ --------- Omaha, Nebr.
Fidelity and Casualty Company of New York-- ___New York, N.Y.
Fidelity and Deposit Company of Maryland-_ Baltimore, Md.
Fidelity and Guaranty Life Insurance Company--- -Baltimore, Md.
First National Life Insurance Company of America2 Atlanta, Ga.
General Insurance Company of America ----- -Seattle. Wash.
Gibraltar Life Insurance Company of America- -Dallas, Tex.
Great American Insurance Company ----------- New York, N.Y.
Hartford Accident and Indemnity Company -------Hartford, Conn.
Insurance Company of North America- .- Philadelphia, Pa.
International Service Insurance Company --------Fort Worth, Tex.
Investors Life Insurance Company of Nebraska- Watertown, S. Dak.
Jackson National Life Insurance Company--- Jackson, Mich.
Lafayette Life Insurance Company3 ------------ Lafayette, Ind.
Liberty Mutual Insurance Company ----------- _Boston, Mass.
Lincoln National Life Insurance Company-- -Fort Wayne, Ind.
Maryland Casualty Company ----------Baltimore, Md.
Mutual of Omaha Insurance Company -------------- Omaha, Nebr.
National Surety Corporation -------------------- Chicago, Ill.
National Union Fire Insurance Company --------- Pittsburgh, Pa.
Panama Insurance Company, Inc.-------------- Panama, R. of P.
Pan-American Life Insurance Company ----------New Orleans, La.
Peninsular Life Insurance Company -------------Jacksonville, Fla.
The Prudential Insurance Company of America4 Newark, N.J.
2First National Life Insurance Company of America licensed in the Canal Zone October 3, 1975.
3The Lafayette Life Insurance Company discontinued doing business in the Canal Zone
effective December 22, 1975.
4The Prudential Insurance Company of America licensed in the Canal Zone November 19, 1975.






Reliance Insurance Company ------------------Philadelphia, Pa.
Royal Indemnity Company ----------------- New York, N.Y.
Seabord Surety Company ------------------- New York, N.Y.
Transamerica Insurance Company ---------- Los Angeles, Calif.
Travelers Indemnity Company --------------- -Hartford, Conn.
United Benefit Life Insurance Company -------------Omaha, Nebr.
United Services General Life Company - Washington, D.C.
United Services Life Insurance Co.------------- Washington, D.C.
United States Fidelity and Guaranty Company -------Baltimore, Md.
United States Life Insurance Company in the City of New York-
New York, N.Y.
Wabash Life Insurance Co.-------- ------------ Indianapolis, Ind.
World Service Life Insurance Company ----------Fort Worth, Tex.
STransamerica Insurance Company discontinued doing business in the Canal Zone effective
December 31, 1975.






















Digitized by the Internet Archive
in 2009 with funding from
University of Florida, George A. Smathers Libraries


http://www.archive.org/details/annualreportofin1975cana












AETNA CASUALTY AND SURETY COMPANY
(No transactions in Canal Zone during 1975)

AMERICAN EMPLOYERS' INSURANCE COMPANY


Liability other than auto ----_- ___
Total--------------------
Premium tax paid in Canal Zone ------


Net
Premiums
$1,280.00
$1,280.00
$19.20


AMERICAN HOME ASSURANCE COMPANY
Net
Premiums
Auto liability (B.I.) $231,400.78
Auto physical damage------- -- 198,323.36
Fire --.-------- ----------- 15,460.19
Liability other than auto ------------ ------------- 60,034.16
Miscellaneous --------------------------- ---0.00
Workmen's compensation -----------. 252,506.26
Total- --- ----- -- -_-__. $757,724.75
Premium tax paid in Canal Zone--- _. $11,365.87

AMERICAN MOTORISTS INSURANCE COMPANY
(No transactions in Canal Zone during 1975)

AMERICAN RE-INSURANCE COMPANY
(No transactions in Canal Zone during 1975)


Liability other
Auto liability
Auto property
Automobile
Auto compare
Auto collision
Fire----
Burglary and
Miscellaneou
Surety_ -_
Total
Premium tax


COLONIAL INSURANCE COMPANY OF PANAMA
Net
Premiums
er than auto (B.I.) ---.-. $3,141.00
(B.I.)- 42,405.83
y damage ---- --------- 30,378.48
and motor vehicle .----- 14,540.29
hensive --------- 4,611.46
n .-- -------- 33,970.54
---- ------------------ 2,096.11
theft------ -- 753.06
s --------- -598.06
2,005.00
------ ---- -- $134,499.83
paid in Canal Zone .-- $2,017.50


Losses
Paid
$0.00
$0.00


Losses
Paid
$111,142.97
98,149.54
223.67
0.00
40,127.22
86,432.19
$336,075.59


Losses
Paid
$0.00
1,592.19
14,781.19
3,204.46
2,875.56
14,327.83
0.00
0.00
0.00
0.00
$36,781.23







COMPARIA GENERAL DE SEGUROS, S.A.
Net
Premiums
Automobile ------------------------------------ $488.67
Fire ---------------------------------------- 5,689.73
Surety ------------------------ 5,752.43
Total --------------------------------- $11,930.83
Premium tax paid in Canal Zone ------------------- $178.96



COMPARIA INTERAMERICANA DE SEGUROS, S.A.
Net
Premiums
Automobile---..---.-- -.----- $399.82
Fire --------------------------- ------ 4,655.24
Surety --------------------------------------- 11,879.18
Total -------------------------- $16,734.24
Premium taxpaid in Canal Zone -------------------- $251.01



COMPARIA INTERNATIONAL DE SEGUROS, S.A.
Net
Premiums
Miscellaneous -------------------------------- $29,004.00

Total ---------------------------------$29,004.00
Premium tax paid in Canal Zone ------------------- $430.06


COMPANIA NATIONAL DE SEGUROS, S.A.
(No transactions in Canal Zone during 1975)


CONTINENTAL CASUALTY COMPANY
Net
Premiums
Group accident and health -------------- $5,326.00
Health and accident ----------------- 292.00
Workmen's compensation ----------------- 92.00
Miscellaneous --------------------------(Cr.)- 1,287.00
Total ---------------------------- $4,423.00
Premium tax paid in Canal Zone ----------- $66.36

*(Breakdown by types of insurance unavailable.)


Losses
Paid
$17.76
0.00
0.00
$17.76






Losses
Paid
$14.53
0.00
0.00
$14.53






Losses
Paid
$0.00

$0.00


Losses
Paid
$3,523.00
0.00
0.00
0.00
$3,523.00







CONTINENTAL INSURANCE COMPANY


Fire ------------------------ ---------
Ocean marine ------------ -------- _-------
Inland marine----------------------- -
Accident only ----------- -- --------
Health and accident --------------
Workmen's compensation
Liability other than auto -
Auto liability ------- -------- ----
Auto physical damage ------------- ---
Fidelity------------------- ---- --
Surety ---------------------- ..
Glass ----------------
Burglary and theft ----------------- --------
Total------------------------------
Premium tax paid in Canal Zone --------.--


Net
Premiums
$10,095.00
2,038.00
9,647.00
3,557.00
11,995.00
221,033.00
46,349.00
78,990.00
52,923.00
2,926.00
71,103.00
65.00
4,040.00
$514,761.00
$7,721.41


$


FIDELITY AND CASUALTY COMPANY OF NEW YORK
Net
Premiums
Fire --------------------------------------- $39,929.00
Miscellaneous ----------------- ---- 2,364.00
Liability other than auto ------- -------- 880.00
Auto liability ----------------------------------- 104.00
Auto physical damage --------------- 55.00
Total --------------------------------- $43,332.00
Premium tax paid in Canal Zone ---------..---------- $649.98


FIDELITY AND DEPOSIT COMPANY OF MARYLAND
Net
Premiums
Surety ---------------------- $64,760.00
Total --------------------------------- $64,760.00
Premium tax paid in Canal Zone..--- --..-- ------- $971.40


Losses
Paid
$0.00
156.00
150.00
45.00
2,190.00
25,808.00
2,099.00
26,622.00
31,257.00
0.00
0.00
0.00
8,268.00
96,595.00





Losses
Paid
$0.00
0.00
0.00
0.00
0.00
$0.00





Losses
Paid
$0.00
$0.00


GENERAL INSURANCE COMPANY OF AMERICA
(No transactions in Canal Zone during 1975)


GREAT AMERICAN INSURANCE COMPANY
(No transactions in Canal Zone during 1975)







HARTFORD ACCIDENT AND INDEMNITY COMPANY


Workmen's compensation --- ---
Liability other than auto (B.I.). -----
Fire---------- -- ----------
Auto liability (B.I.)-------
Miscellaneous -------------------
Auto physical damage --..---.------
Group accident and health --------- -
Total -
Premium tax paid in Canal Zone .-


Net
Premiums
-. -- $205.00
-_ (Cr.) 309.00
.--(Cr.)_ 420.00
(Cr.). 307.00
-(Cr.) 151.00
-- (Cr.) 721.00
--- - 354.00
(Cr.) $1,349.00
$0.00


INSURANCE COMPANY OF NORTH AMERICA
Net
Premiums
Ocean marine ------ --------- $6,803.21
Workmen's compensation ------------ ---- 132,837.00
Liability other than auto.----------- 37,157.00

Total -------------- $176,797.21
Premium tax paid in Canal Zone - $2,651.96



INTERNATIONAL SERVICE INSURANCE COMPANY
Net
Premiums
Auto liability ------------------. $9,888.00
Auto physical damage 13,723.00
Total -------------------------- $20,611.00
Premium tax paid in Canal Zone--_-.. -. _._._ $354.17


THE LIBERTY MUTUAL INSURANCE


Health and accident ---.-------- ----
Liability other than auto (B.I.) ------- (Cr.)-_
Total-- ---......
Premium tax paid in Canal Zone ---.------ -.


COMPANY
Net
Premiums
$160.00
85.00
$75.00
$1.13


Losses
Paid
$0.00
0.00
625.00
424.00
0.00
865.00
0.00
$1,914.00






Losses
Paid
$5,742.44
41,708.58
256.54

$47,707.56






Losses
Paid
$8,992.00
7,808.00
$16,800.00






Losses
Paid
$0.00
0.00
$0.00







MARYLAND CASUALTY COMPANY
Net Losses
Premiums Paid
Accident only --------- ----. $0.00 $680.00
Group accident and health -------------- 281.00 0.00
Auto liability .--- --- ---------- -- (Cr.) 2,325.00 20,972.00
Liability other than auto ----------------(Cr.) 305.00 380.00
Fidelity --------------------------------- 137.00 1,572.00
Surety -------------------------- ---- 2,594.00 0.00
Class --------------------- 0.00 95.00
Burglary and theft .----.------ -....--- 0.00 165.00
Workmen's compensation ---------------(Cr.) 2,242.00 7,510.00
Auto physical damage ------ --- 134.00 404.00
Fire ---- ---- ---- (Cr.) 25.00 0.00
Miscellaneous --(Cr.) 15.00 2,398.00
Total .- ----- -(Cr.)- $1,766.00 $34,176.00
Premium tax paid in Canal Zone- -- $0.00


MUTUAL OF OMAHA INSURANCE COMPANY
Group accident and health ------------------- $10,335,858.00 $9,355,498.00
Individual and health ------------------------ 260,153.00 232,690.00
Total_ ------------ ----$10,596,011.00 $9,588,188.00
Premium tax paid in Canal Zone $158,940.17


NATIONAL SURETY CORPORATION
Net Losses
Premiums Paid
Surety ----------------------- $6,563.00 $0.00
Total ---------------------------------- $6,563.00 $0.00
Premium tax paid in Canal Zone ------------------- $98.45


NATIONAL UNION FIRE INSURANCE COMPANY
(No transactions in Canal Zone during 1975)


PANAMA INSURANCE COMPANY
Net Losses
Premiums Paid
Fire --------------------------- -- ---- $6,896.64 $0.00
Automobile ------------------..------- 592.33 21.53
Total ..------------ --- -- $7,488.97 $21.53
Premium tax paid in Canal Zone...-----.--- $112.33







RELIANCE INSURANCE COMPANY

(No transactions in Canal Zone during 1975)





ROYAL INDEMNITY COMPANY
Net Losses
Premiums Paid
Medical malpractice ------------------ $93.00 $0.00
Surety----------------------------- ---------0.00 (Cr.) 169,038.00
Total -------------------------------$93.00 (Cr.) $169,038.00
Premium tax paid in Canal Zone ------------------- $1.40





SEABORD SURETY COMPANY

(No transactions in Canal Zone during 1975)





TRANSAMERICA INSURANCE COMPANY

(No transactions in Canal Zone during 1975)





TRAVELERS INDEMNITY COMPANY
Net Losses
Premiums Paid
Fire ---------------------------------------- $1,913.00 $91.56
Miscellaneous ---------------------------------- 0.00 29,444.42
Auto physical damage --------------------------0.00 105.00
Surety ---------------------------- -------- 14,785.00 0.00
Total -------------------$16,698.00 $29,640.98
Premium tax paid in Canal Zone -------------------- $250.47







UNITED STATES FIDELITY AND GUARANTY COMPANY


Accident only
Fire ------------------------- -
Inland marine-- ---.------------.- -------
Accident and health ..................
Workmen's compensation -......
Liability other than auto (B.I.) -------.(Cr.)__
Auto liability (B.I.) - .---- ---- - -
Auto physical damage -
Fidelity -----------------------------(Cr.)_-
Surety----------- -------
Burglary and theft---------------------
Miscellaneous


Net
Premiulms
$25.00
4,752.00
122.00
617.00
141,268.00
2,930.00
135,780.00
87,616.00
483.00
481.00
7,228.00
843.00


Losses
Paid
$0.00
75.00
0.00
50.00
45,444.00
5,363.00
55,768.00
69,905.00
(Cr.) 1,423.00
0.00
3,867.00


Total -.----------------- $375,319.00 $179,049.00
Premium tax paid in Canal Zone-- $5,629.79




AMERICAN-AMICABLE LIFE INSURANCE COMPANY

ORDINARY


Policies in force December 31, 1974 ---------
Policies issued during 1975 --- ----- -
Total -----------------------------
Ceased to be in force during 1975 -----------
Policies in force December 31, 1975 ---------
Losses and claims:
Unpaid December 31, 1974
Incurred during 1975 ......--- -----------
Total-------------------------------
Settled during 1975
Unpaid December 31, 1975


Number
19
95
114
46
68

0
0
0
0
0


GRouP-None

Net premiums collected in Canal Zone during 1975:
Life Insurance - ----- ---
Accident and Health -----------
Total ------- ----------- ------
Premium tax paid in Canal Zone ------.- ---------


Amount
$177,493.00
1,413,397.00
$1,590,890.00
651,614.00
$939,276.00

$0.00
0.00
$0.00
0.00
$0.00




$32,064.00
0.00
$32,064.00
$480.96







AMERICAN CAPITOL INSURANCE COMPANY


ORDINARY

Policies in force December 31, 1974
Policies issued during 1975-- -- --- --
Total
Ceased to be in force during 1975
Policies in force December 31, 1975 ---... ___ -
Losses and claims:
Unpaid December 31, 1974-
Incurred during 1975 -----
Total __-
Settled during 1975
Unpaid December 31, 1975

Gnoup-None
Net premiums collected in Canal Zone during 1975:
Life Insurance--- -- ---------


Number
708
18
726
66
660

1
5
6
6
0


Accident and Health
Total-------- --- -------
Premium tax paid in Canal Zone ----- ...------


Amount
$2,895,956.00
360,490.00
$3,256,446.00
289.422.00
$2,967,024.00

$1,000.00
13,011.00
$14,011.00
14,011.00
$0.00




$77,632.00
4,614.00
$82,246.00
$1,234.00


AMERICAN CONTINENTAL LIFE INSURANCE COMPANY

ORDINARY-NONE

GROUP-None
Net premiums collected in Canal Zone during 1975:
Life Insurance----. -....---
Accident and Health ------------ ---------
Total---------------------------
Premium tax paid in Canal Zone ----------


$0.00
141.00
$141.00
$2.12







AMERICAN DEFENDER LIFE INSURANCE COMPANY
ORDINARY


Policies in force December 31, 1974___
Policies issued during 1975----- ---
Total----------------------------
Ceased to be in force during 1975 -
Policies in force December 31, 1975

Losses and claims:
Unpaid December 31, 1974 ---....
Incurred during 1975
Total
Settled during 1975-
Unpaid December 31, 1975

GROUPr
Policies in force December 31, 1974
Policies issued during 1975 -------------
Total-- ----------
Ceased to be in force during 1975 ......
Policies in force December 31, 1975 -

Losses and claims:
Unpaid December 31, 1974 -
Incurred during 1975
Total ---------...
Settled during 1975-
Unpaid December 31, 1975

Net premiums collected in Canal Zone during 1975:


Life Insurance --_-------- --- -------
Accident and Health ---- -------- ---.....
Total------- ----------------
Premium tax paid in Canal Zone -------- ----


Number
65
13
78
28
50


0
2
2
2
0


0
1
1
0
1


Amount
$1,676,391.00
376,671.00
$2,053,062.00
761,591.00
$1,291.471.00


$0.00
617.00
$617.00
617.00
$0.00



$0.00
19,422.00
$19,422.00
0.00
$19,422.00


$0.00
0.00
$0.00
0.00
$0.00


$2,078.00
0.00
$2,078.00
$31.17







AMERICAN FIDELITY LIFE INSURANCE COMPANY.

OmDNARm


Policies in force December 31, 1974
Policies issued during 1975. -
Total --____... .
Ceased to be in force during 1975.
Policies in force December 31, 1975

Losses and claims:
Unpaid December 31, 1974
Incurred during 1975
Total _- __-.
Settled during 1975 --
Unpaid December 31, 1975


Number
0
10
10
2
8


0
- - - - - - 0
0

0
0


GRouP-None

Net premiums collected in Canal Zone during 1975:
Life Insurance - -----------
Accident and Health ..----------- -----..-
Total ---------------- .....
Premium tax paid in Canal Zone- -------


$3,293.00
.-- 0.00
..- $3,293.00
.--. $49.40


Amount ,
$0.00
165,100.00
$165,100.00
15,600.00
$149,500.00


$0.00
0.00
$0.00
0.00
$0.00







AMERICAN INTERNATIONAL LIFE ASSURANCE COMPANY
OF NEW YORK

ORDINABY


Policies in force December 31, 1974 ----------
Policies issued during 1975------- --- -- -
Total
Ceased to be in force during 1975 -------------
Policies in force December 31, 1975-
Losses and claims:
Unpaid December 31, 1974---------------
Incurred during 1975 ----- -----------
Total---------------------
Settled during 1975 -----------------------
Unpaid December 31, 1975 ------------- -


Number
1
0
1
0
1


0
0
0
0
0


GROUP


Policies in force December 31, 1974 1-
Policies issued during 1975--------------- 0
Total ------------------------------------
Ceased to be in force during 1975 ----------- (1)
Policies in force December 31, 1975------------ 2
Losses and claims:
Unpaid December 31, 1974------------------- 0
Incurred during 1975---------------- 0
Total ----------------------------------- 0
Settled during 1975 ---------------- ---- 0
Unpaid December 31, 1975 ---------- 0
Net premiums collected in Canal Zone during 1975:
Life Insurance ---------------------
Accident and Health
Total--------------------------- ------
Premium tax paid in Canal Zone


ATLANTIC SOUTHERN INSURANCE COMPANY OF PUERTO RICO
(No transactions in Canal Zone during 1975)


Amount
$96,394.00
0.00
$96,394.00
(3,606.00)
$100,000.00


$0.00
0.00
$0.00
0.00
$0.00



$364,998.00
0.00
$364,998.00
(1,801,677.00)
$2,166,675.00


$0.00
0.00
$0.00
0.00
$0.00


$2,202.00
0.00
$2,202.00
$33.03







BANKERS LIFE INSURANCE COMPANY OF AMERICA


ORDINARY
Policies in force December 31, 1974 --------------
Policies issued during 1975 __-
Total---- _______ -------
Ceased to be in force during 1975
Policies in force December 31, 1975 --- --
Losses and claims:
Unpaid December 31, 1974 ----------------
Incurred during 1975 ----
Total _--
Settled during 1975 ------------------
Unpaid December 31, 1975 --------------
GROUP-None


Number
589
1
590
59
531


1
11
12
12
0


Net premiums collected in Canal Zone during 1975:
Life Insurance-----------------------
Accident and Health ---------------------
Total ------------------------------
Premium tax paid in Canal Zone------------------------


BENEFICIAL NATIONAL LIFE INSURANCE COMPANY
ORDINARY-None
GROUP


Policies in force December 31, 1974-------- 0
Policies issued during 1975 ----------------------- 0
Total ------------------------------------ 0
Ceased to be in force during 1975 ------------------ 0
Policies in force December 31, 1975 ---------------- 0
Losses and claims:
Unpaid December 31, 19741 _---------------- 0
Incurred during 1975 ------------------------ 0
Total------------------------------------ 0
Settled during 1975 --------------------------- 0
Unpaid December 31, 1975 ---------- 0
Net premiums collected in Canal Zone during 1975:
Life Insurance --------------- --
Accident and Health -------------------------
Total -------------------------------------
Premium tax paid in Canal Zone ---- -------


Amount
$2,537,795.00
4,296.00
$2,542,091.00
223,579.00
$2,318,512.00


$2,500.00
11,932.00
$14,432.00
14,432.00
$0.00




$71,035.47
0.00
$71,035.47
$1,065.53


$0.00
16,573.00
$16,573.00
0.00
$16,573.00

$0.00
0.00
$0.00
0.00
$0.00

$0.00
0.00
$0.00
$0.00







CITIZENS STANDARD LIFE INSURANCE COMPANY


ORDINARY
Policies in force December 31, 1974 --------------
Policies issued during 1975 --------------
Total-- --------------------------
Ceased to be in force during 1975 -----------
Policies in force December 31, 1975
Losses and claims:
Unpaid December 31, 1974--- --------
Incurred during 1975 ---------------------
Total-------------------------------
Settled during 1975 ---------------------
Unpaid December 31, 1975 ----------
GROUP-None
Net premiums collected in Canal Zone during 1975:


Number
970
1
971
94
877

0
1
1
1
0


Life Insurance------------------------------__---
Accident and Health ------------
Total------------------------------
Premium tax paid in Canal Zone -- --- ---------


EXECUTIVE FUND LIFE INSURANCE COMPANY


ORDINARY

Policies in force December 31, 1974 -------------
Policies issued during 1975---- ---------
Total--------- --------------------
Ceased to be in force during 1975 ---------
Policies in force December 31, 1974
Losses and claims:
Unpaid December 31, 1974---- -- -----
Incurred during 1975--------------
Total-------------------------------
Settled during 1975----------------------
Unpaid December 31, 1975-
Gnoup-None
Net premiums collected in Canal Zone during 1975:


Number
16
0
16
16
0

0
0
0
0
0


Life Insurance ----------------------
Accident and Health- -----------------
Total ---------------------------
Premium tax paid in Canal Zone


Amount
$3,426,170.00
15,000.00
$3,441.170.00
302,894.00
$3,138,276.00

$0.00
5,042.00
$5,042.00
5,042.00
$0.00



$100,793.37
28,752.00
$129,545.37
$1,943.18


Amount
$168,343.00
0.00
$168,343.00
168,343.00
$0.00

$0.00
0.00
$0.00
0.00
$0.00



$0.00
0.00
$0.00
0.00







FIDELITY AND GUARANTY LIFE INSURANCE COMPANY


ORDINARY

Policies in force December 31, 1974 -------------
Policies issued during 1975 ..... _
TotaL.
Ceased to be in force during 1975 ......
Policies in force December 31, 1975 ____._
Losses and claims:
Unpaid December 31, 1974-
Incurred during 1975 -------
Total---------------------
Settled during 1975----_--- -- --
Unpaid December 31, 1975 ----
Gnour-None
Net premiums collected in Canal Zone during 1975:


Number
124
74
198
(65)
263

0
1
1
1
0


Life Insurance ------ ---- --------- ------
Accident and Health ------- ------
Total-------------------------------- -
Premium tax paid in Canal Zone ---------- ----- -


FIRST NATIONAL LIFE INSURANCE COMPANY OF AMERICA
ORDINARY


Policies in force December 31, 1974_ ---------
Policies issued during 1975
Total- -----
Ceased to be in force during 1975
Policies in force December 31, 1975 ---------.-
Losses and claims:
Unpaid December 31, 1974 ......
Incurred during 1975
Total----------------------
Settled during 1975
Unpaid December 31, 1975
Group-None
Net premiums collected in Canal Zone during 1975:
Life Insurance --.......--- ----- ------------.


Accident and Health --- ----
Total -----------------------
Premium tax paid in Canal Zone-- ------- --


Number
0
3
3
0
3

0
0
0
0
0


Amount
$2,504,490.00
1,259,676.00
$3,764,166.00
1,156,625.00
$2,607,541.00

$0.00
1,000.00
$1,000.00
1,000.00
$0.00



$36,200.00
0.00
$36,200.00
$543.00


Amount
$0.00
35,000.00
$35,000.00
0.00
$35,000.00

$0.00
0.00
$0.00
0.00
$0.00



$53.61
0.00
$53.61
$0.00







THE GIBRALTAR LIFE INSURANCE COMPANY OF AMERICA
ORIUINARY


Policies in force December 31,1974 ---- --
Policies issued during 1975 ----------------
Total----------------------------
Ceased to be in force during 1975 --------- -
Policies in force December 31, 1975-
Losses and claims:
Unpaid December 31, 1974
Incurred during 1975 -------------------
Total--------------- --------------
Settled during 1975----------------
Unpaid December 31, 1975 -- --------1---
GROUP-None
Net premiums collected in Canal Zone during 1975:


Number
922
20
942
66
876

0
18
18
18
0


Life Insurance--------------------------------
Accident and Health ----------------------------
Total ---------------------------------
Premium tax paid in Canal Zone .-_ ------------


$9,030,520.00
549,000.00
$9,579,520.00
531,034.00
$9,048,486.00

$0.00
32,196.61
$32,196.61
32,196.61
$0.00



$182,752.99
0.00
$182.752.99
$2,741.29


INVESTORS LIFE INSURANCE COMPANY OF NEBRASKA
(No transactions in Canal Zone during 1975)

JACKSON NATIONAL LIFE INSURANCE COMPANY
ORDINARY


Number
Policies in force December 31, 1974----------------- 2
Policies issued during 1975 0
Total- ------------------- 2
Ceased to be in force during 1975---- ------- 0
Policies in force December 31, 1975 .- 2
Losses and claims:
Unpaid December 31, 1974- .---------- -- 0
Incurred during 1975------------------------ 0
Total 0------------------------------ 0
Settled during 1975__-------------------------- 0
Unpaid December 31, 1975 ------------------- 0
GRouP-None
Net premiums collected in Canal Zone during 1975:
Life Insurance --- -------------------
Accident and Health--------------- --------- --
Total -------------------. --------
Premium tax paid in Canal Zone -----------------------


Amount
$43,650.00
0.00
$43,650.00
0.00
$43,650.00

$0.00
0.00
$0.00
0.00
$0.00



$2,161.00
0.00
$2,161.00
$32.41







THE LAFAYETTE LIFE INSURANCE COMPANY

(No transactions in Canal Zone during 1975)


LINCOLN NATIONAL LIFE INSURANCE COMPANY

ORDINARY


Policies in force December 31, 1974 ................
Policies issued during 1975-
Total----------- -
Ceased to be in force during 1975 -
Policies in force December 31, 1975 -------
Losses and claims:
Unpaid December 31, 1974
Incurred during 1975- -----------
Total------- --- -- -----
Settled during 1975--
Unpaid December 31, 1975 ------



Policies in force December 31, 1974
Policies issued during 1975 ...---------- ---
Total--------
Ceased to be in force during 1975--
,Policies in force December 31, 1975 .. .
Losses and claims:
Unpaid December 31, 1974 __---------
Incurred during 1975
Total- ------------.
Settled during 1975
Unpaid December 31, 1975 -
Net premiums collected in Canal Zone during 1975:


Number
358
0
358
40
318


0
7
7
7
0


0
0
0
0
0


0
0
0
0
0
o
o


Life Insurance ------------- ------ -
Accident and Health --------- --------
Total----------------- ---- .----
Premium tax paid in Canal Zone -----------------


Amount
$2,828,768.00
0.00
$2,828,768.00
392,244.00
$2,436,524.00


$0.00
36,000.00
$36,000.00
36,000.00
$0.00



$24,068.00
0.00
$24,068.00
24,068.00
$0.00


$0.00
0.00
$0.00
0.00
$0.00


$50,974.00
247.00
$51,221.00
$768.32







PAN-AMERICAN LIFE INSURANCE COMPANY

ORDINARY


Policies in force December 31, 1974-
Policies issued during 1975-
Total__ ____-
Ceased to be in force during 1975------- --
Policies in force December 31, 1975

Losses and claims:
Unpaid December 31, 1974 ----------
Incurred during 1975 .
Total-- -------------
Settled during 1975- ------------ ---
Unpaid December 31, 1975


Number
105
14
119
8
111


0
0
0
0
0


GRnou-None
Net premiums collected in Canal Zone during 1975:
Life Insurance------------------------
Accident and Health -___-__ -----------
Total--------------------------__---- -------
Premium tax paid in Canal Zone- --------- ------


PENINSULAR LIFE INSURANCE COMPANY

(No transactions in Canal Zone during 1975)


Amount
$1,385,744.00
384,000.00
$1,769,744.00
83,694.00
$1,686,050.00


$0.00
0.00
$0.00
0.00
$0.00




$33,108.59
0.00
$33,108.59
$497.00







THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
ORDINARY


Policies in force December 31, 1974 ---------
Policies issued during 1975 --------------
Total-------------------------------
Ceased to be in force during 1975 ----------
Policies in force December 31, 1975 -------------

Losses and claims:
Unpaid December 31, 1974 ---------------
Incurred during 1975
Total------------------------------
Settled during 1975__
Unpaid December 31, 1975------- -.

GRoUP/INDUSTRIAL

Policies in force December 31, 1974 ---------
Policies issued during 1975-- __ ----- -
Total --- --------------
Ceased to be in force during 1975 ------------..
Policies in force December 31, 1975 .-


Number
254
2
256
5
251


0
5
5
4
1



0
0
0
0
0


Losses and claims:
Unpaid December 31, 1974---- ------- 1I
Incurred during 1975 .
Total ----------- 2------------------------ 2
Settled during 1975 ------------------- ---- 1
Unpaid December 31, 1975- 0-
Net premiums collected in Canal Zone during 1975:
Life Insurance ---------------------------------
Accident and Health---------------------------
Total---------------- ------------------
Premium tax paid in Canal Zone -___---------------------


Amount
$2,269,342.00
87,273.00
$2,356,615.00
9,963.00
$2,346,652.00


$117.00
75,181.00
$75,298.00
71,317.00
$3,981.00



$0.00
800,608.00
$800,608.00
0.00
$800,608.00


$196.00
22,085.00
$22,281.00
22,082.00
$199.00

$62,212.57
160.00
$62,372.57
$935.59






UNITED BENEFIT LIFE INSURANCE COMPANY

ORDINARY


Policies in force December 31, 1974 ---------
Policies issued during 1975 --------------
Total
Ceased to be in force during 1975 -
Policies in force December 31, 1975 ------
Losses and claims:
Unpaid December 31, 1974 -----------
Incurred during 1975 ---------------
Total --------------------
Settled during 1975 -
Unpaid December 31, 1975


GnOUP
Policies in force December 31, 1974.- --------------- 2
Policies issued during 1975-------------- 0
Total------------------------------------ 2
Ceased to be in force during 1975---------- 0
Policies in force December 31, 1975--------- 2
Losses and claims:
Unpaid December 31, 1974------------- 4
Incurred during 1975 ------------------------ 119
Total ------------------------------- 123
Settled during 1975 --------------------118
Unpaid December 31, 1975------------------- 5
Net premiums collected in Canal Zone during 1975:
Life Insurance---------------------- ----
Accident and Health ----------------------
Total -------------------------
Premium tax paid in Canal Zone- ------------ --


$121,983,700.00
0.00
$121,983,700.00
413,050.00
$121,570,650.00


$35,500.00
519,250.00
$554,750.00
507,250.00
$47,500.00


$739,169.26
53,579.45
$792,748.71
$11,891.23


Number
635
27
662
220
442


1
1
2
2
0


Amount
$5,702,175.00
338,748.00
$6,040.923.00
2,832,078.00
$3,208,845.00


$2,000.00
2,000.00
$4,000.00
4,000.00
$0.00







UNITED SERVICES GENERAL LIFE COMPANY

ORDINARY
Number Amount
Policies in force December 31, 1974 ------- ---0 $0.00
Policies issued during 1975 --------------- 39 954,375.00
Total ----------------------------- 39 $954,375.00
Ceased to be in force during 1975 ------------------ 9 348,284.00
Policies in force December 31, 1975 ---- _. 30 $606,091.00
Losses and claims:
Unpaid December 31, 1974 ---. -.--- 0 $0.00
Incurred during 1975 ------------------------ 0 0.00
Total ---------------------------0 $0.00
Settled during 1975 --------------- 0 0.00
Unpaid December 31, 1975 -------------0 $0.00

GRoUP-None

Net premiums collected in Canal Zone during 1975:
Life Insurance ------------------------------- $8,539.30
Accident and Health ----- ------------ 0.00
Total ----------------------------- $8,539.30
Premium tax paid in Canal Zone --------- -- ------ $128.09







UNITED SERVICES LIFE INSURANCE COMPANY


ORDINARY

Policies in force December 31, 1974 ------------
Policies issued during 1975 -
Total- -------------
Ceased to be in force during 1975
Policies in force December 31, 1975 ______-------
Losses and claims:
Unpaid December 31, 1974 .-.
Incurred during 1975 -.--
Total--- -
Settled during 1975 ......
Unpaid December 31, 1975


GROUP
Policies in force December 31, 1974-
Policies issued during 1975
Total ---------- -. ...--------------.
Ceased to be in force during 1975
Policies in force December 31, 1975 ------------
Losses and claims:
Unpaid December 31, 1974 ---_--_________
Incurred during 1975 -----
Total ___
Settled during 1975---------------__
Unpaid December 31, 1975----
Net premiums collected in Canal Zone during 1975:
Life Insurance --- ---......... ____.____ _-
Accident and Health --... ._ ______
Total_ __- ________________ _-__ _
Premium tax paid in Canal Zone___-------------- __


0 $0.00
1 3,065.00
1 $3,065.00
(3) (79,710.00)
4 $82,775.00


0 $0.00
0 0.00
0 $0.00
0 0.00
0 $0.00


-_ $80,052.00
0.00
$80,052.00
$1,201.00


Number
322
135
457
281
176


0
0
0
0
0


Amount
$5,528,371.00
3,136,017.00
$8,664,388.00
4,741,842.00
$3,922,546.00


$0.00
0.00
$0.00
0.00
$0.00







UNITED STATES LIFE INSURANCE COMPANY
ORDINARY
Number Amount
Policies in force December 31, 1974 ----- ----- 9 $67,618.00
Policies issued during 1975 ------------------------ 0 23.00
Total --------- --------------------- 9 $67,641.00
Ceased to be in force during 1975 -------------(1) (1,000.00)
Policies in force December 31, 1975 ---------------- 10 $68,641.00
Losses and claims:
Unpaid December 31, 1974 ------------ 0 $0.00
Incurred during 1975 ------------------------ 0 0.00
Total------------------------------------ 0 $0.00
Settled during 1975_ -------------------------- 0 0.00
Unpaid December 31, 1975 -----------0 $0.00

GnoUP
Policies in force December 31, 1974 ----------------- 1 $144,000.00
Policies issued during 1975 ------------------------- 0 0.00
Total --------------------------------- 1 $144,000.00
Ceased to be in force during 1975 ------------------ 0 (50,721.00)
Policies in force December 31. 1975---------- 1 $194,721.00
Losses and claims:
Unpaid December 31, 1974 ------------------ 0 $0.00
Incurred during 1975 -------------- 0 0.00
Total ---------------------------------- 0 $0.00
Settled during 1975 ---------------------- 0 0.00
Unpaid December 31, 1975 0--------------- 0 $0.00
Net premiums collected in Canal Zone during 1975:
Life Insurance ----------------------------- $2,807.00
Accident and Health--------------------------------- 0.00
Total----------------------------- -------------- $2,807.00
Premium tax paid in Canal Zone -------------------$42.00






WABASH LIFE INSURANCE COMPANY

(No transactions in Canal Zone during 1975)


WORLD SERVICE LIFE INSURANCE COMPANY

ORDINARY
Number Amount
Policies in force December 31, 1974----------------- 3 $32,649.00
Policies issued during 1975 ------------------------ 8 248,755.00
Total ------------------------------------ 11 $281,404.00
Ceased to be in force during 1975 ----- ------- 0 0.00
Policies in force December 31, 1975 ---------------- 11 $281,404.00
Losses and claims:
Unpaid December 31, 1974 ------------ 0 $0.00
Incurred during 1975------------------------ 0 0.00
Total---------------------- ----------- 0 $0.00
Settled during 1975---------------------- 0 0.00
Unpaid December 31, 1975 ------------------ 0 $0.00

GROUP
Policies in force December 31, 1974 -- ---- 0 $0.00
Policies issued during 1975 ------------------------ 0 35,844.00
Total ----------------- 0 $35,844.00
Ceased to be in force during 1975 ------------------ 0 0.00
Policies in force December 31, 1975 ----------------- 0 $35,844.00
Losses and claims:
Unpaid December 31, 1974------------------- 0 $0.00
Incurred during 1975 ------------------------ 0 0.00
Total ------------------------------- ----- 0 $0.00
Settled during 1975 ------------- --- 0 0.00
Unpaid December 31, 1975 -------------------_____ 0 $0.00
Net premiums collected in Canal Zone during 1975:
Life Insurance --______------------------------------------ $9,286.00
Accident and Health ------------------------------_ 0.00
Total ---------------------------------- ----------_ $9,286.00
Premium tax paid in Canal Zone-- --------------------- $139.29



27







RECAPITULATION

MISCELLANEOUS COMPANIES


Accident ----------------
Automobile and motor vehicle ----- ----
Auto comprehensive-- -------
Auto collision .-- --------
Auto liability (B.I.)
Auto property damage ---------
Auto physical damage ----------------
Burglary and theft---
Extended coverage
Fidelity -
Fire---------------
Class --- --------------- -
Group accident and health ------- __-__-_
Health and accident (includes
hospital and medical)
Inland marine ---- ------
Liability other than auto
Medical malpractice __. ----------_
Miscellaneous---- -------
Ocean Marine
Property damage other than auto ---------.
Surety --------------------- -- -
Workmen's compensation -------------
Total ------------------

Premium taxes paid in Canal Zone


Net
Premiums
$3,582.00
16,021.11
4,611.46
33,970.54
495,936.61
30,378.48
352,053.36
12,021.06
0.00
2,580.00
91,041.91
65.00
10,341,819.00

273,217.00
9,769.00
145,212.16
93.00
31,356.06
8,841.21
0.00
179,722.61
745,699.26
$12,777,990.83

$191,711.62


Paid
$725.00
3,258.28
2,875.56
14,327.83
225,513.16
14,781.19
208,493.54
12,300.00
0.00
149.00
1,015.23
95.00
9,359,021.00

234,930.00
150.00
8,098.54
0.00
71,969.64
5,898.44
0.00
(Cr.) 169,038.00
206,902.77
$10,201,466.18







LIFE INSURANCE COMPANIES

ORDINARY


Policies in force December 31, 1974
Policies issued during 1975
Total -
Ceased to be in force during 1975 -
Policies in force December 31, 1975

Losses and claims:
Unpaid December 31, 1974------
Incurred during 1975 ..... -
Total---------------------------
Settled during 1975 ---- ------ --
Unpaid December 31, 1975

GROUP
Policies in force December 31, 1974-
Policies issued during 1975 -......
Total _____ -
Ceased to be in force during 1975
Policies in force December 31, 1975-
Losses and claims:
Unpaid December 31, 1974 .-....
Incurred during 1975 ......
Total-
Settled during 1975
Unpaid December 31, 1975 --- _
Net premiums collected in Canal Zone during 1975:


Number Amnwou
5,102 $40,371,869.00
460 9,327,821.00
5,562 $49,699,690.00
874 12,504,201.00
4,688 $37,195,489.00


3 $5,617.00
51 176,979.61
54 $182,596.61
53 178,615.61
1 $3,981.00


4
2
6
(4)
10


5
120
125
120
5


Life Insurance__.
Accident and Health -- --------- ----
Total_ _
Premium tax paid in Canal Zone- -........


$122,516,766.00
875,512.00
$123,392,278.00
(1,494,990.00)
$124,887,268.00


$35,696.00
541,335.00
$577,031.00
529,332.00
$47,699.00


$1,496,414.16
87,493.45
$1,583,907.61
$23,758.61


The following is an extract from Title 2 of the Canal Zone Code, as revised
effective January 2, 1963, pertaining to the licensing of foreign corporations
under which insurance companies are authorized to do business in the
Canal Zone.






CANAL ZONE CODE-Title 2, Chapter 61
SEC. 871. Corporation; joint stock company.-As used in this chapter,
"corporation" includes joint stock companies.
SEC. 872. Application for license to do business; service of process;
filing fee.-(a) A corporation organized under the laws of a State of the
United States or of a foreign country may not do business in the Canal Zone
or maintain an office therein until it has filed with the executive secretary of
the Canal Zone Government:
(1) An application for a license setting forth:
A. The name of the corporation;
B. The names of its officers and directors; and
C. The general nature of the business in which it desires to
engage in the Canal Zone;
(2) A copy, duly certified by the officer authorized by law to certify
it, of the:
A. Articles of incorporation;
B. Charter; or
C. Statutory, executive, or governmental acts creating the
corporation, when it has been so created;
(3) An affidavit sworn by an authorized officer of the corporation
stating the amount of its authorized capital stock at or within 60 days
prior to the filing.
(4) A designation of a person residing within the Canal Zone upon
whom process issued under any law of the Canal Zone may be served,
and his place of business or residence, and a certified copy of the minutes
of the board of directors of the corporation authorizing the designation.
(b) Process served on the person designated by the corporation or, if he
can not be found at the place designated, or if a person is not designated,
on the executive secretary of the Canal Zone Government, is a valid service
on the corporation. When the executive secretary is served with process he
shall without delay communicate the same to the corporation concerned at
its last known address. A default judgment may not be entered against the
corporation in an action in which process is served on the executive secretary
until at least 60 days after the date of the service.
(c) A corporation licensed pursuant to this chapter shall also file with
the executive secretary any change in the provisions of its original articles
of incorporation.
(d) With the application for license there shall also be paid $10, which
shall cover the filing fee and annual license fee for the remainder of the
calendar year during which the license is issued.
SEC. 873. Additional requirements for insurance companies.-In addition
to the other requirements of this chapter, an insurance company organized
under the laws of a State of the United States or of a foreign country shall
file the following documents: (1) A certificate of an authorized official,






showing that the company is authorized to transact business in the State or
country under whose laws the company is organized;
(2) A duly certified copy of the last annual statement of the insurance
company to an authorized official in the State or country where the company
is organized;
(3) A deposit with the executive secretary of the Canal Zone Government
of $10,000 in cash or current marketable securities, which shall be held in
trust by the executive secretary for the account of the company, to satisfy
any judgment that may be rendered against the company, under insurance
policies that it may issue.
SEc. 874. Annual statement and license tax for insurance companies.-
An insurance company licensed pursuant to this chapter shall file with the
executive secretary of the Canal Zone Government before March 1 of each
year a verified statement showing the business transacted within the Canal
Zone by the company during the previous calendar year and a duly certified
copy of its annual report to an authorized official of the State or country in
which the company is organized. Upon a showing of good cause therefore,
the executive secretary may extend the time for filing the statement for a
period not exceeding two months after March 1.
An insurance company licensed pursuant to this chapter shall pay before
March 1 of each year, in lieu of all other taxes except the annual fee provided
for by section 876 of this title, a license tax equal to 1 percent of its net
premium receipts in the Canal Zone for the proceeding calendar year.
SEc. 875. Issuance of license.-Upon compliance by a corporation with
the conditions prescribed by sections 872-874 of this title, and if the Governor
is satisfied that the business desired to be transacted is proper, legitimate and
permissible under the laws of the Canal Zone, and not in conflict with the
policy of administering the Canal Zone as an adjunct of the Panama Canal
he may issue a license to do business in the Canal Zone.
SEc. 876. Continuance after first license period.-The right of a corpora-
tion to continue to do business for the calendar year, and the successive
calendar years, after the calendar year during which the original license
was issued, shall be contingent upon: (1) Compliance with the provisions
of this chapter applicable to corporations licensed under it;
(2) Payment of a license fee of $10, payable in advance, on January I
of each year; and
(3) Designation of a new process agent before March 1, if the process
agent previously designated has ceased during a preceding calendar year
to reside within the Canal Zone.
SEC. 877. Revocation of license.-The Governor may revoke a license
issued pursuant to this chapter if, upon examination, he is satisfied that the
operations of the corporation are conducted in an illegal manner, or in a
manner contrary to public policy or to the policy of administering the Canal
Zone as an adjunct of the Panama Canal.






SEC. 878. Loss of benefit of statute of limitations.-Corporations doing
business in the Canal Zone which fail to comply with this chapter are not
entitled to the benefit of the laws of the Canal Zone limiting the time for
the commencement of civil actions.
SEC. 879. Penalties for violation; validity of contracts.- (a) A corpora-
tion which does business in the Canal Zone without having complied with
this chapter shall be fined not more than $500.
(b) Whoever acts as an officer of, or agent for, a corporation which
has not complied with this chapter, shall be fined not more than $100 or
imprisoned in jail not more than 30 days, or both.
(c) Every contract made by or on behalf of such a corporation affecting
the liability thereof or relating to property within the Canal Zone is void
on its behalf and on behalf of its assigns, but is enforceable against it or them.
SEC. 880. Corporations dealing in securities.-A corporation licensed
pursuant to Chapter 79 of this title is not required to comply with sections
871-879 of this title.
SEc. 881. Surrender of license to do business.-(a) A corporation
licensed to do business in the Canal Zone may surrender its license by filing
with the executive secretary of the Canal Zone Government a certificate
signed and acknowledged by its president or a vice president and its secretary
or an assistant secretary or treasurer, setting forth:
(1) The name of the corporation as shown on the records of the
executive secretary, and the State or place of incorporation;
(2) That it revokes its designation of agent for the service of process;
(3) That it surrenders its authority to do business in the Canal Zone
and returns its license for cancellation, or that the license has been
lost or destroyed, if such is the fact;
(4) That it consents that process against it in any action upon a
liability or obligation incurred within the Canal Zone prior to the filing
of the certificate of surrender may be served upon the executive secretary
of the Canal Zone Government;
(5) A post office address to which the executive secretary may mail
a copy of any process served upon him, which address may be changed
from time to time by filing a certificate entitled "certificate of change of
address of surrendered foreign corporation" signed and acknowledged
by the president, a vice president, secretary, assistant secretary, or
treasurer.
(b) The license shall be attached to the certificate of surrender unless the
license has been lost or destroyed, in which case there shall be attached an
affidavit of the president, vice president, secretary, assistant secretary, or
treasurer to that effect.
(c) Mere retirement from doing business in the Canal Zone without filing
a certificate of surrender of license does not revoke the appointment of any
agent for the service of process within the Canal Zone.






SEc. 882. Service of process after revocation or surrender of license.-
(a) After the license of a corporation has been revoked or surrendered,
process against the corporation may be served upon the executive secretary
of the Canal Zone Government in any action upon a liability or obligation
incurred within the Canal Zone prior to the revocation or the filing of the
certificate of surrender.
(b) Section 872(b) of this title applies to service of process upon the
executive secretary pursuant to this section.
(c) The revocation or surrender of a license does not affect any action
pending at the time.
















































































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