The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1868-11-26

| companies, anu tie p2SaGy OF policies
transferred to said conspany, and ais,
treasury notes ofthe Unffed States,--if
the stocks and bonds Of my county ol
incorporate city in thisE nate which may
have been heretofore aothorized to bt
issued by the legislaturQ of this State
and to lend the same, ortAly part there
of, on the security Of tpch stocks OF
bonds, or treasury notes, or upon bond.
ana mortgages as afOroBaid and nol
otherwise; and to change and reinves,
the same in like securitl0a as occasion
may from time to time require: but any
surplus money over and abOve the paid
up capital stock of any snch company
organized under this act. d dincornnrafsd -
nnder any law OF this t4te-7inay bt
invested or loaned upon Nc pledge oi
the public stocks or bonds of the United
stocks, bonds, or other evidences OF in
debtedness of any solvent dividend.
paying institutions Incorporated under
the laws of this State or Of the United
States, except their Own II stock: Provided,
Always that the current market value
of such stock, bonds, or other evidences
ofindebtedness, shall be at all times,
during the continuance of such loans, at
least ten per cent. more than the sum
loaned thereon.
| a.. Upon receiving notification that the
requirements Of the preceding sections
have been complied With, the Auditor
of State shall make an examination or
cause one to be made by some disinter-
ested person officially appointed by him
| for that purpose-and ii it shall be found
| Gf the examination be made by other
than the Auditor, then the finding
Ic1x I lxrx AoA kl,N NAf |,
capital herein required Of the company
business proposed to be transacted by
such company, has been paid In aud Is
possessed by it In money, or in such
stock notes, bonds and mortgages ~ are
required by the third and sixth sections
of this act, then he shall SO certify; aud
If the examination bo made by other
than the Auditor, then the finding
shall be certified by oath, or II 1t 10 pro-
posed to be u mutual insurance compo-
ny, that it has received and is In actual
possession of the capital, premiums, Or
bona tide engagements Of insurance or
other securities, rs the case may be, to
the extent and value ts4uiEed by the
third and sixth sections ofthis act. The
name and residence of the maker Of each
premium note forming part Of the capital
Of any such proposed mutual insurance
company. and the amount of such note,
shall be returned to the Auditor.
The corporators or officers OF any
contemplated by this act, shall be re-
quired to certify under oath to the
Auditor of State that the capital exhib-
ited to the person making the examtna-
tion directed in this section, was bona
,1de property Of the 6s,anpany SO examfn-
ed. Thecertiticates above contemplated
shall be filed in the office of said Audi
tor who shall thereupon deliver to such
company certified copy of the same
with his written permission for them to
commence business proposed in their
written certificate of Incorporation
which on being placed on record in the
Office of the Recorder of the county in
which the company is to be located, by
for that purpose, shall be their authors
ty to commence busines and issue poll
cies; and such certified copy Of said GER
tifcates may lie used in evidence for or
against said company with the same ef-
feet as the originals.
SS. 1t shall be lawful for any compa-
ny organized under this act or doing
business in this State; First, to insure
houses, buildings, and all other kinds of
property against loss or damage by lire,
or other casualty, and to make all kinds
of insurance on goods, merchandise or
other property in the course o transport
tation whether OH land or on water, or
any vessel or boat, wherever the same
may he; second, to make insurance on
the health of individuals, ard against
the personal injury, disablemcnt aud
death resulting from traveiing, or gem
eral accidents by land or water; third,
to insure the fidelity of persons holding
places of public or private trust; fourth,
to receive on deposit and insure the
safe keeping Of books, papers, money,
stocks, bonds, and all kinds of personal
property; fifth, to insure hors.s, cattle,
aud other live stock against loss or
damage by accident, theft, or any un-
known or contingent event whatever
which may be the subject of legal insur-
ance; to lend money OH bottonry or re-
spondentia, and to cause itself to be
insured against any loss or risk it may
have incurred in the course Of its busi-
ness. and upon the interest which 1t
may have in any property by means of
any loan or loans which it may have
made on mortgage, bottomry, OF respon-
dentia, and generally to do aud perform
all other matters aud things proper to
promote these objects: Provided, That
s,r 1as.--r-.-y -l.-ia w OsEulifAcu ~ issue
policies of insurance for more than one
of the above dve mentioned purposes,
and no company that shall have been
organized for either one OF said purposes
shall issue policies of insurance for any
other; and no company organized un-
der this act, or tralisacting business in
this State, shall expose itselfto loss on
any lisk, or hazard to the amount cx-
ceeding ten per cent. on its paid-up
capital, unless the excess shall be rein
sured by the same In some other good
and reliable company; Asd Iar0ridsd,
That the restrictions as to the amount of
the risk any company shall assume,
shall not apply to companies organized
to guarantee the safe keeping Of books,
papers, moneys and other personal prop
erty.
s9. The annual meetings for the
election Of directors, shall be holden
during the month Of January, as the
bylaws Of the company may direct:
Provided, hoWcuer, That if for any cause
the stockholders shall fail to elect at
any annual meeting, then they may
hold special meeting some day subse.
quent thereto for thst purpose, by Civ
ing thirty days notice thereof In some
newspaper IN general circulation in the
county in which the principal office Ol
hn r<NUnN -. L.. - a. kl,D