The Minnesota pioneer. [volume] (St. Paul, Minn. Territory) 1849-1855, 1850-01-09

ChAP. ALAn Minnesota Mutual
Fl ..t.....-... s.. Company. tii' i - ~. '"i'
i enacted By Legislature assembly of the 1iorycf Of Mn
Henry Jackson Charles k Smith Franklin Steele Alex
ander NJ Mitchell David Osted, William H. Forbes Lorenzo
Nelson Alexander Wkn Charles F. Tracy, Augustus L. Free
William H. Randall sen all other persons
shall be corporation, by the of the Minnesota Mutual
Fire Company for the purpose OF nsurng their
household furniture merchandise and other property against
loss damage by fire, and for no other purpose
The persons named the first section of this shall
be the first Directors of the said corporation The business of the
shall be carried and conducted such place
by majority of the members thereof present at any regular
meeting. ..., ....r- .. p. ....... fIt. H.t
SEC. Said corporation may make and SEAL
for the transaction of their business and alter the
peasue and may hold purchase and convey such real and per-
sona estate the legitimate of the corporation shall
r require. r
SEC. L. All persons who shall with the said corporations
also their heirs executors administrators and the assigns
continuing be insured in said corporation as herein provided
shall thereby become members thereof during the period they shall
insured by said corporation, and 10 longer.
The affairs of said corporation shall be managed by
Board of Directors consisting of fifteen members all
happening said board be filed BY the remaining Directors
shall quorum for the transaction Of business
Sec. g. That said Directors shall continue Office for
their places which Board of Directors shall be elected
in each year. such time and place the Town OF ST. Paul
laws shall appoint of which election public notice shall be given
lat of the public newspapers printed said at least
thirty days Immediately such election: such election shall
be holden under the inspection three members being Dree
be appointed election by the Board of
shall be made ballot
members their then present;
allowing each member for hundred dollars insured
in said company Pdd That member shall have least
one voe although the amount insured by in may nor amount TO
one hundred dollars.
SEC T. The Directors may insurance
the be insured and the to be deposited for
rance.
SEC s. Every person OF said
poation citing SHALL before he
his policy deposit his promissory note for such Of
shall be determined by the Directors part not exceeding five per
of said note shall Immediately paid for the purpose of dis
charging the incidental of the institution and the remain
Of the said deposit shall be payable part or the whole
when the Directors shall deem the requisite for
of losses fire and such Incidental shall
be for ransacng the business Of said and at
the of the said such
of the shall unpaid after deducng all losses and
during SAID shall be renqnisd und
a. given o the maker thereof h.t-
SEC O. any property insured with this corporation shall
anaed by sale otherwise the policy snail hereupon be
void and be surrendered the Directors OF said company be
canceed such surrender the insured shall be entitled
receive his deposit the payment OF his proportion of
accrued such surrender
grantee aenee having the policy assigned to him.
have the ratified and confirmed to him. for his own proper
upon application the Directors and with their
consent thirty after such alienation, giving
proper security the satisfaction of said Directors for such
hon OF the deposit premium note as snail remain unpa, ana ny
such ratification and confirmation the party such security
gven shall be entitled all the rights and privileges and be
subjected all the liabilities which the original party whom
the policy issued entitled and subjected under this act
SEC TO- Every member OF said company shall be bound to
losses and such aforesaid
and said proportion TO the amount OF his deposit
and all buildings insured by said together
10 right of the insured to the lands
they shall be hereby pledged to said company
said company shall have lien thereon in Of
gage Of his deposit which shall continue
during his policy lien take effect the said company
the clerk and have entered the book of
kept by county where such property situated
of the of the individual insured and de-
scron of the property the amount of said deposit noe and the
time during which said policy shall continue. '. 9'l
SEC H. Suits at law be maintained by said corporation
against its members for the collection of said deposit
or any thereon any relating
Of said corporation also at law be prosecuted
maintained by member against said corporation for losses
damage by fire. if withheld more than three months
after duly notified of such losses;
Der of the corporation bng individual capacity
such shall be incompetent witness such
of his being metnber of said company q M
ken ., (To be Continued } ,,.--ates .ts-43tta
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