The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-01-11
WHOLE NO. 13l.

TOWNSHIP FIRE INSURANCE CON- =
PANIES-HOW THE GENERAL
IOSURANCE LAW APPLIES
TO THEM.
DEPARTMENT OF INSURANCE
ST. PAUL, MINI, Jan'y 10th, 1877
The legislature Of this state hav-
ing enacted law providing for
and authorizing the formation of
townships insurance Companies,
approved March 9th 1875, and en-
bodied therein section, No.7,)
providing that all companies or
ganized hereunder shall be held to
compliance with the provisions
Of the general reciprocal insurance
law Of the state, so far as the same
are applicable thereto, and the I'M
dersigned having been, in the
course Of his official duties, request
ed to decide what portions Of said
title there will beheld applicable to
companies organized under the
township law, deems it his duty to
endeavor to interpret said laws in
their relation to each other, and
to lay down a rule for the guidance
Of companies organizing under
said township law ard those al
ready organized.
It may be stated, first:---that the
two acts are largely at variance,
the one especially prohibiting GER
tain things which the other es-
pecially authorizes, and that this
variance and lack of harmony be-
tween them make it difficult to de-
, termine just how far the township
/ companies are to be governed by
the general law---how far it is ap-
, plicable to them. But the legisla-
ture having determined that these
= companies must come uuder the
supervision Of the insurance de-
partment to that extent, at least,
that their plan Of organization and
method of doing busidess will ad-
nit, it remains only for the de-
: partment to rule upon the appli-
= cability of the provisions Of title
three of the general law, to them.
y Therefore, after fully considering
: the premises,the following sections
y and parts of sections of said title
ie three, have been held to apply to
y said township companies, and a
!. compliance Herewith on their
i part will be duly required.
0, FIRST: Section 3, which requires
er the declaration of an organization
- to be submitted to the Attorney
General for his approval; and not
~ to be operative until SO submitted
e. and approved.
IN SECOND: Section 4, so far as il
i relates to the investment of cash
accumulations. IA
90 THIRD: Subdivision 3, of Sec
n ton 6, which requires each Conn
ne pany, before doing business, !,
e. procure from the Insurance Com
us missioner certificate that it ha
" complied with the law applicable
a; to it.
in FOURTH: Section s, requirin,
x x companies to publish their locatiol
-, I'd in all their advertisements; am
as. Section 9, which defines what ree
g estate they may own; an.1 eet
I'D IL, which imposes PEN i s IA
Is. violating the law in ree1 to -
nat fishing false statement4 IN
nd wise sfsE OK 4Rss1
dia FIFTH: Section IL, Eh ~
ald quires an annual state ~ fos II
o ,I made to the Insuranc prf
in sioner and the same to h> ! Iia e
ro- and Section 13, viii e :
his what said statement 2o
3 "a, also Section IA, Is, 1e 4!
Or & 20, having referenc -
the subject matter. III assaag
tes, There are other port XII
az 40" three which, under cert o}iiFSI -
ex- stances, should be held fQ
be to apply to the Towns e.
ced panies, but these circumstances a
e 9 being likely to arise, it is =
a an. worth while to make further co
pa struction Gifts application at tn
sea, time.
now Pamphlet copies ofthe Insuran
, ,u. laws Of the State, and suitat
the blanks for the reorganization
here Township Companies, and blan
ting for the annual statement requir
use of said Companies, can be had
, Of this Office, on application.
It all a. Is. McGlLL,
Dle." Insurance Commissioner