Factors Fire Insurance v. Whilden

Tire action is brought by a fire insurance company against its agents for an accounting. One of the grounds on which the defendants resist the action is that the plaintiff is a foreign corporation, but never procured the certificate to do business in this state required by section 15 of the General Corporation Law. The fact is, however, that the transactions in suit were carried on under a statute which, under certain conditions, permits agents in this state to procure, for persons desiring such insurance, policies *560of fire insurance from companies not authorized to do business in this state.…