Buchanan County bulletin and guardian. (Independence, Iowa) 1866-1869, 1868-11-06

CHAPTgR l3S.
An ACT RsgsisGiae Life Isssrsass Con-
panioe.

cHAPTYR lss.
An ACT h's''' s:.I., Lin ''''''''' Con-
escspss I. Dsssassssd D tAs 0sssrel Asss.-
" n - Asss ~ Isss, That every. company
)ssusa Sse ~ psspees u sssusing IL Lives Of
inaiviAnaas. vhoehss eeeasissd uades the laws
e ~ Ctaae o. aay o4hse 0tsts, Or foFsign oun-
~, sAal, 6Sses bsaiae any policies on lvss
viaAia tAks 0tas, comply With The eosdissoss
andros1eieeiso Of this ~
Oss. 4 Joiat stssk companies organized M
- ~ laus of this State shall have not less
1Aaa - handrsd theusAad dollars Of cspits!
assk Subscribed, twenty-five per cent. Of which
shen - paid ~ sad invested In United States
seeeks. q Il q State, OF in boads sad merit
Rneos upso uaisssabsrsd real sstsss in The
1tsls Il Iowa vsrtA, sxclssive Of improvement,
q least dssbls ths ss0 loaned thereon, wnicn
~ sssasisiss shall - deposited With the Ae-
Ailse 4 otass, aad upoa said d posit and salts
fhstssy svlAsaes TO the Aanitos that the esp
III ssssk y Ill subscribed il good faith. he
hall iAopo . eaid company the eirtiheats here
inalAee pesvi1sd fer: Psovitsd, No part VI the
svsaty Ave pr ssat Aforesaid shall b loaned
- aay sessk- holder Or o0esr Of the company;
- ssnaiaAse Of sueh stock shalt be paid In 81
euoA uDe % The dirsetors or trustees 81 the
seopaay nay direct and The same shall b se-
sascl 81 IL notes Of the stock holders Of said
ss0paay. Aai no note shall b accepted -
paet Of susA capital stock unless the sAne shall
10 ssesapasisl BY certificate Of justice OF
tAs psass, notary public, OF clerk Of the district
sear Of Tie cossty il which the person execut-
M euch sAall note reside, that the person max
IA 10 saae il, il HE opinion, peeuniariIy good
aad resposs ible fos the sans 10 property mot
exempt fron exsessioa BY the laws of this
state.
See. ). Companies organized under the laws
u tAis STATE upoa the mutual pl an, shall, before
isoaiae aay policies, have bona nde aPpiica-
sisas % ct least two hundred individuals iises
for a average amount Of one thousand do lars
essA, list Of which aprlicatit ne, giving the
nsns, age, residence, amount Of insurance, snd
asnual premium Of each applicant, shall be hled
9th the Auditor Of State, and deposit made
With said Auditor ef amount equal to three
nfths Of The whole annual premium on ssd sp-
plicasioas, either in cash or the securities re-
Ssirsd By the foregoing section Il this act. ana
q eenpliaacs With said provisions. the Auditor
sAsil iseue 70 said mutual company the cirtih-
cate hereinafter Prescs ibed.
SEED Il shsii not be lawful for any person
70 aet within this State ~ Agent, or ctherwiss'
10 rsesiying or procuring applications Tor '"'s-
rance. OF il any manner 60 aid N trsnsacung
the bssioess Of Insurance :ferred to in tho nrst
section Of this act. or for any company OF asso-
citation incorporated by. or organized under the
laws Of any other State Government, unes- such
company posse ssed Of the amount of actual cap
ital REQ uireJ Of comp anies in this State. snd the
zane Is invested in stocks or treasury nctcs 81
The Usitsd States. o. Of the State Of lowa or o'
interest paying bonds Of the state IN when
said company 10 located o. where SAID dep"en'
are made, u % beads and mortgages on unin
esobesed real estate within the State where suci
eeupssy IL located; but ell mortgages depos
tied by any company uader this section. shall
be anon nincu m hsrcd real estate worth doubI
The amount loaned thereon; which stocks and
sssuritiss shall be Deposited with the Auditor
CeatrelIss, " chief financial oncef oftne stat
b. vhoss laws said company - incorporated. q
seue other State, and the Auditor Of this Stat
fussished With . Certificate u such Auditor
Csntpollsr. VI chief financial oficer aforesaid
uadsr his hand snd ofheial zeal. thst he. as sue
Auditor, CONTROLLER. Of hnsncisl o0ees Of sue
STATE. holds in trust and on deposit, Tor tn
hsas1t Of Ill the policy holders OF such com
paay, the security before men'ione which Ger
$500 shsll embrace the items OF security .
ia. tat h IL stisael that each securities AZ
worth one hsndssA thousand dollars; but nofu
ine hessia eostsised shalt BE- construed 10 IN
ScIidaGs The agency Of ssy company iacorpcrs
~ 10 aaothsf State. By reason 81 such comPan
Aoviag fso0 tin. 70 time exchsnged the sees
eisiss % deposited With the Auditor. Controile'
- ehief 6neaeisi olkeer Of the State 10 uhic
sseh ssopaay 10 located fos other stock or y
eaeieiee ssthossed By this sct, W By reason
sosA eonpanies having drawn it, interest an
Aividssds from time to time for such stocks N
~. S. Such company shall also appoint I
sesorosy Or agent in each county In this Stst
IL vhIeh the company has an agency on Who
process Of isw can Be served aad such coEPa'
sAall 6is With the Auditor Of State certins
coy q ths charter q ,.s.:ss q e 4
seesineaAe Of appointment Of ssch agent I
aeeata Which appointment shall eoutaue mi
oSeehee aesat o. attorney be substituted. Al
q saes any such insurance eorporae.on sh'
dag 70 Tie Laws thereof, the agsss lass des'
800, o. scsisg = sseh for sseh eorpors'ic
IN y deemed TO continue agests fer such &
Dssalisa lee the pssposs Of ssrvisg process
eso0saeias sesioss uPen sny policy or nso
Vfeooee4sA business In this State. and servi
g - preesss for the causes aforesaid. up
eoy 80 aesat, shall b. deemed . valid perso
q eseviee, upos sseh ccrporstion. and ~
esopaay chsfl slss Gle sssaiensnt Of IL coo
olsAe, 10 Tie Same form aud manner required
- ossoal staasnsss u similar composites I
aooioel uaAss the laws Of this 6tats.
81 6. tshsil not b. lawfCl for any -
- - ess cay company referee % IN %: 81: e
- :s;i.ss 1890. s', n.syr = o. s .sy nsa
Seoc.s0ne - Susissss Of life insurance. 4
~ Vi4Seut procuring from said Audite'
esgNnssAs q satAority. stasiag th:s The fore
hesse.iseeests hsvs 80 eonpnss ~ ~ !.
ss1ssy. 5 ssesi1sA copy Of which csrtiAc
~ s ia 10 ths eessv !seesdsr's e1ee
~ eeHn1y uhsee ~ agency 10 - b establish
- Hell'bs Ne satheity 81 essh company
49, = ssonssse essiseas v enis oeese,
5000; &. . n ,ss 81 = ys.ss.y ). "
S1ss5v 1sys thssssass. Ole With ne A.dite'
~ ~ 4 staAsnsnt Of ~ a9siss for ths p