The Minnesota pioneer. [volume] (St. Paul, Minn. Territory) 1849-1855, 1850-01-09
LAWS OF MINNESOTA
{ Continued from F;rst Pee,

IL The Directors shall after receiving notice o ,nv os
mnage by fire. sustained by member ascertanne the
after the rendition OF any Judgment aforesaid against
company Tor loss damage determine the sums
aid BY the several members thereof respective
Of such loss and publish the such as thew
u fit, the bylaws shall have prescribed and the sun
paid by each member shall always in proportion to the
nai amount OF his deposit note notes. and be paid To-
Treasurer thirty days next after the publication of said
e and any member SHALL for the space Of thirty DAYS after
IN" nphcanon Oh saa notice. neglect refuse pay the
sed upon hm has proportion of loss such
the Directors for and whole amount Of
W post note notes with costs of suit and amount thus
% ced shall remain IN the Treasury of said company subject
payment Of such losses and expenses as have or NAV
oaer accrue and the balance if any rein be return
"a the party from whom collected on demand after thirty
days from the expiration of the for which insurance was
b. If the whole amount of deposit notes snail be INSULT
5en to pay the loss accustomed by fire fires
e sufferers Insured by said company shall receive towards
making good respective losses popoonate dividend of
the whole amount of said according the
repecvey insured and addition therto
IA al the members Of said company the principles
euae the amount OF their respective deposte
eed dollar hundred dollars respectively insured
them; and member shall be required pay
occasoned by fire. than dollar
hundred dollars said company addition the amount of his
deposit note than than that for any such loss
member upon payment Of the whole of his dpoe and
rendering his policy before subsequent loss has
occurred shall be discharged from said company.
SIC H. The premium deposit notes of said company shall
10 be liable to
said company, be commenced against the
SEC IT, No policy shall be issued by said company until APP
SEC. IL. This shall continue force years
Is. The Board of Directors shall annually choose Sec
and Treasurer the otherwise and such
other officers the bylaws may provide for The Treasurer
shall bond the Directors double the of the probable
be paid the treasury during the for which he
a be elected and the Directors shall be personally responsible
for losses that said company sustain by the dishonesty
careles oil said Treasurer.
SEC 10. Within thirty days after the annual meeting for the
election of Directors, shall lie the duty of the officers of the
corporation be made and published least Of
the newspapers of the county which the business of the
is transacted general the affairs of the corporation
aud h also the time be struck balance of
profit and loss and there be surplus after
all expenses incurred by the for the then
preceding member shall be credited with such proportion
such surplus his deposit may bear to the
gate Of deposits payments
20 If said company shall have sustained losses
equal their capital stock actually paid in and the Pres
Directors after knowing the shall make
of such of them shall make such
thereto shall be jointly and eveal liable
tor the of loss which shall take place under such in
SIZE The Legislature time, alter repeal this
Proridd That the rights of who
have said company shall be affected
~ such repeal.
APPROVED day of November thousand eight hun
drcd and forty nine. ."