Part II: Insurance and Thrift 



URUGUAY. 



THE STATE BANK OF INSURANCE AND INSURANCE 

 AGAINST HAIL. 



Sources : 



RELACION ENVL\DA for la OFICINA DE ESTADISTICA Y PUBLICACiONES DEL MlNISTERIO DE 

 INDUSTRIAS DEL URUGUAY AL INSTITUTO INTERNACIONAL DE AGRICULTURA SOBRE LA SEC- 

 CION GR.\NIZO DEL BANCO DE SEGUROS DEL ESTADO, EN 7 OCTUBRE DE I916 (RcpOrl Sent 



by the Office of Statistics and Publications of the Ministry of Industry of Uruguay to the In- 

 ternational Institute of Agriculture on the Hail Department of the State Insurance Bank on 7 

 October 1916). 



I^EY DE CREAC16N DEL BANCO DE Seguros DEL EsTADO {Law Creating the State Insurance Bank) 

 Talleres de A. Barreiro y Ramos. Montevideo, 1912. 



Reglamento GENERAL DEL BANCO DE Seguros DEL EsT.\DO {General Rules of the State 

 Insurance Bank), ibid. 191 2. 



§ I. The state insurance bank. 



The vState Insurance Bank was created by the law of 27 December 1911. 

 Its object was to practise all forms of insurance covered by the State's 

 monopoly and instituted by the relevant law. 



The bank's capital consists of three million pesos (i) in public debt 

 bonds bearing interest at the rate of 5 per cent, annually and i per cent, 

 of amortization. The bank's capital and reserve fund are the special gua- 

 rantee of its operations, which are however also guaranteed by the State 



(i) I peso = about 4s ^d at par. 



