Proclamation No. 1366, April 6, 1917, Prescribing Regulations under Which German Insurance Companies May Maintain Agencies in the United States during the Existence of a State of War
By the President of the United States of America
A PROCLAMATION
Whereas, certain insurance companies, incorporated under the laws of the German Empire, have been admitted to transact the business of insurance in various States of the United States, by means of separate United States Branches established pursuant to the laws of such States, and are now engaged in business under the supervision of the Insurance Departments thereof, with assets in the United States deposited with Insurance Departments or in the hands [Page 257] of resident trustees, citizens of the United States, for the protection of all policyholders in the United States;
And whereas, the interests of the citizens of the United States in the protection afforded by such insurance are of great magnitude, so that it is deemed to be important that the agencies of such companies in the United States be permitted to continue in business;
Now, therefore, I, Woodrow Wilson , President of the United States of America, by virtue of the powers vested in me as such, hereby declare and proclaim that such branch establishments of German Insurance Companies now engaged in the transaction of business in the United States pursuant to the laws of the several States are hereby authorized and permitted to continue the transaction of their business in accordance with the laws of such States in the same manner and to the same extent as though a state of war did not now exist; provided, however, that all funds of such establishments now in the possession of their managers or agents, or which shall hereafter come into their possession, shall be subject to such rules and regulations concerning the payment and disposition thereof as shall be prescribed by the insurance supervising officials of the State in which the principal office of such establishment in the United States is located, but in no event shall any funds belonging to or held for the benefit of such companies be transmitted outside of the United States nor be used as the basis for the establishment directly or indirectly of any credit within or outside of the United States to or for the benefit or use of the enemy or any of his allies without the permission of this Government.
In witness whereof, I have hereunto set my hand and caused the seal of the United States to be affixed.
[seal] Done at the City of Washington this sixth day of April in the year of our Lord one thousand nine hundred and seventeen, and of the Independence of the United States the one hundred and forty-first.
By the President:
Robert Lansing
Secretary of State.