, 1873-03-27

BEo 8. u sla'l 10 Tho duty Of tho Auditor Of Public
Aecoins before Tho 1T tay Of Febrnnry in each year.
tho General A.zembly aitract Of Tho statement and
condition q oil banking associations organized unpr
p1ssoIur1oN OF INSURANCE COMPANIES.
Tho sonato passed the following bill. intro
ducod by Alr. Early
Hill for net In regard 10 tho dissolution Of In
srorlon l. Bc enacted BY the People w The state u
ltnos reprs.snttd ta n. t'euerat Asseme'y That i
opinion that i Ii iaovon or Tint it, condition is such
a. to render ita further continuance in bua!noss haz
conditions rroviisdb by iaw las e1eocdol, or
ss of rc e III 'sa sse
to 3aeuo an Injunction restraining such Company, in
a ea4na fss ss s g @ IT,
10 ,nay direct: II shnll % dIacroonary with such
Judge, oher to issuo said Injunction forthwith or TO
should not iss>,o, 10 cnuso hearing to DO had
Injunction ahall 10 tssod 1lo ney In sl such caaoa
isencios md equities Of tic caao may require, md In
any case, after full hearing Of all rarca interested,
III SS nsFSaS snsh g ac
tinuaues Of tho business Of tlie Company.
incorporated In thts State dcsiro to close its con
hsy Il o ss e ssn
forth in substance the grounds Of thoir arpleatIon
eaed may rroeeud to henr the matter md, for rea-
sonaba casr, docrco dissolution Of tho corporations
oa csne ii I'll r. ss f or II eSarters Ind
expired BY their Limitation. subject, however, to
sEo e D. To elsrtors Of I'll nanrsnco companies tn
eorrorHtcd III thih Btnte, which, either from neglect or
By vote Of their membora or olcera, or in Obedience
T0f1 Inns shall horn.
husneas TOR which they wore organizcd shall bo
expired BY their oNn Limitation; md the oIrcuit
ooHr shall hase authority upon application, by tho
tx * a ss o S hh wen es
companies alla close their concorns: Provided, that
tits scoion s1a not 10 consrucd to recyo any such
company from its liabilities to the RRsurcd any Of
ils creditors.
SIC. 1. Insurance companies whose charters expire
Or ssolStd by Of Court Or ossrWse %
slall nevertheless DO continual boica corporate for
dissolution, for Tho rurpose of prosecuting and do,
Tending suits BY Or aganst Them and Of enabling them
q and convoy thoir property, aud divide ther capital
stock and aasots bnt not for tho purpose Of continuing
the business si,, for y which thoy were organized.
don reutrained from further prosecution of f. buai
oont On application 81 the Auditor, Or q member,
atockholder or creditor may ut my timo before tho
Il e. e ea1s
may be dcpoaite With tho Auditor or Treasurer Of
Bthte and to collect the obts due and property be-
longing to IT, with power to prosecute and defend
auita IN tho nsmo Of the corporation, in their
ucte necessary for tho collection, marehalling md dis
trbuon Of thu aBaets Of tho company and tho closing
of s concerns; md whom necessary for tho nal aet
uccnt Of its unfinished blslneBet tho Of such
Reccvers may DO continued long rs lie Court dcoms
necessary therefor.
$50. .. The Noseiver shall ray all debts duo from
therefor, and not, ho shall distribute the aano rats
bly, among tho creditors WHO prove thor dcbta in such
9 aT o
Of, and couyertin into money any OF tho securities or
essoa Of tho oomany for tho purposo q paying such
alance remaining after tho payment Of tho dcbs tho
Receiver sllall distribute the.salno among thoso who
sy sn ~ a herso s
SEQ. Receivers Of insurance companies appointed
as aforesaid, alan report to the Auditor Of 6ate
before the 1s day Of January, and aa much oftenor
Is o may direct and such roporta or abstracts there
from, nay be Incorporated into hls annual report
| insurance.
&c., 8. Tho compensation Of RECEIVERS, and heir e1-
penscH, shall 10 determined BY decrc0 of court bllt
shall not exceed tho coHta Of court and per cent Of
! the amount collected Of any Of tho asaota Of tho
Company.
sEo. .. Tho mode Of aurnontng parties into court.
tho rules Of practice, course Of procedure, and pow
Of courts in arising under this net shall 10
State. except ss herein otherwise provided.
BpEo1AL ASSESSMENTS.
Tho Thompson bill, amending the apecial
assessment article Of tho Municipal Incorpora-
ton bill 30 az to simplify tho modo Of collecting
special assessments, was passed by tho sonate.
| LEGISLATIVE PROCEEDINGS.
| SENATE.
| SPRINGFIELD, Ill., March 20, 1875
Tlo Sanato mot at 911 O'clock rrnsi1ant