The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1885-03-26

ONCE !. located in this State, stated annual
Representatives Of local boards or subordinate
bodies. In such manner and subject to such reg
st1tution or bylaws of tho same may provide
In cases OF secret or fraternal societies having
grand or supreme body. such meeting OF the
place AZ shall be designated by such grand or
supreme body At such meeting q full and spe-
ctfio report OF all receipts and expenditures Of
the preceding year. or since the last meeting, as
the case may be- shall be submitted. Notice Of
each such meeting shall be given in such man
ner as the bylaws may direct. but not less than
member and policy holder, except that in lieu
thereof such notice may be given to a subor, 4
dtnate body Of society having . grand or SUI
premo body. or to a local board subordinate to
the association. The books and papers OF such
association shall, at all reasonable times, DO
representatives. All associations, societies. com
panies. corporations or organizations now trans
aching or hereafter desiring to transact the
ance in this State, upon any other plan than that
denned IN and 6y sections five and six of this
act, shall comply with all tho provisions Of the
general life and health insurance laws.
SEC. Is. Each notice Of assessment made
oy any corporation. association or society trans
acting the business OF life, endowment or cas-
uaity insurance. upon the cooperative or ASSESS
ment plan, made upon its members or any OF
them. shall truly state the cause and purpose Of
such assessment.
reilet or aid to be paid, provided or rendered by
any corporation, association or society author
ized to do business under this act, shall be ex-
be seized, taken or appropriated by any legal or
equitable process to pay any debt or liability Of
. member.
SEC. IL. Any officer or agent of anv corpora-
tlon association or society, whose duty 1t Is to
MAKE any report or perform any act IS provided
WIN any OF the provisions OF this act in
respect thereto. or who shall make in any
report or statement Aforesaid any intention
ally false or fraudulent statement, and any
person who shall act within this state as
agent. solicitor or collector for any such cor
poration. association or society. which shall
nave taled, neglected or refused to comply with
! or violated any Of the provisions of this act or
snail have failed or neglected to procure from
said commissioner the certificate of authority to
transact business in this state, as required by
law, shall, for such acts committed during such
| period OF default. be guilty of q misdemeanor,
h s upon conviction thereof, shall be punished
Dy a hne OF not less than one hundred dollars,
nor more than five hundred dollars, or by i'm
prlsonlnent in county Jail OF not less than ten
Gays nor more than one year, or both such fine
SEC. ~. Nothing In this act contained shall
be construed to require any society or any SUBJ
ordinate lodge or body of any secret or fraternal
or industrial society now organized in this state
paving only sick benefits not exceeding two hun
bred and fifty dollars in the aggregate to any one
person IN any one year, or q funeral benefit or
| relief to those dependent on a member not ex-
ceeding three hundred and fifty dollars. to make
any report thereof as herein contemplated; nor
to require the subordinate lodges or councils or
other bodies, by whatever name known, of fra
ternal or secret. or industrial societies. to make
and hle reports with the commissioner of in
surance, wlen the money, benefit, charity, re-
lief or aid. is payable by the grand or supreme
body OF the same, and is derived from assess
ments upon such subordinates or their mem
bers; but such reports shall be made and filed by
such grand or supreme body. Nor shall any.
Thing In this act prevent the creation of
: reserve fund by any corporation, associa--
Iva h,,~i pf
lie, endowment or casualty insurance,
upon the cooperative or assessment plan.
used for the payment Of assessments or death
losses. or for benefits. Nothing in this act con-
tanned shall be construed to Affect the grand or
subordinate lodges Of the Independent Order of
Odd Fellows as they now exist, nor to any grand
! or subordinate lodge Of Free and Accepted
Sec. 90 Any solicitor, agent or examining
physician who shall knowingly OF willfully make
any false or fraudulent ta5ement or representa-
ZION IN or with reference to any application for
| membership. OF for the purpose Of obtaining
any money or benefit in any corporation, ASSOC
| cation OF society transacttng the business OF
lie, endowment or casualty insurance upon the
| cooperative or assessment plan in this State.
shall be guilty Of q msdemeanor and upon con-
vict1on thereof shall be punished as provided In
section nineteen OF this act
SEC. 81. At the stated meeting for the cleo
ton Of officers, trustees, directors or managers
majority OF the persons entitled to vote at such
meeting shall not be necessary to a quorum; nor
shall failure to elect the day designated for
| such meeting dissolve any corpo ;ation under
this act; but it shall be lawful to hold such cleo
ZION ON subsequent day on the same notice as
required for the stated meeting. No newspaper
! publication OF bylaw regulating any election
SEQ p This act to shah 1 G taEe Effect on the first
e Gay OF April one thousand eight hundred and
Approved March 9, 1885.
AN ACT to amend an act entitled an act to au-
thorlze the organization and incorporation Of
annuity, safe deposit and trust companies, ap-
proved March fifth 9th, one thousand eight
Be- enacted By e s Teeis!at as of the State
Of Minnesota:
SECTION l. That section two ~ of an act to
annuity, safe deposit and trust companies, ap-
p",ved March fifth (5th) one thousand eight
hundred and eishty-three 1888 be, and the
| ton two (2) thereof the following words:
And except that no corporation heretofore or
ganized or hereafter to organize under this act,
citation, the amount Of Indebtedness or liability
to which such corporation shall at any time be
It shall not be lawful for any corporation
hereafter oreanized. or for any associ-
a alton partnership or Individual, ex-
either trust, annuity, guaranty safe deposit
company. or in any way to solicit, receive do
business as either trust, annuity, guaranty or
safe deposit company, and any such corpora
ton, associat ion, partnership or individual who
shall! offend these provisions, shall forfeit and
pay for any such offense the sum OF one hundred
1OO) dollars for every day such offense shall
be continued, to be sued for and recovered in
the name OF the people of this State, by the dis
tr1ct attorneys OF the several counties. in any
court havi ing ccgnizance thereof, for the use Of
the poor chargeabe to said county in which such
otrense shall be committed 1t shall be tile duty
OF the secretary Of state, and Of the regis
ter OF deeds OF the several counties to
refuse to receive or file in their
respective offices, any articles of association for
10 If
state Except under this act) which conflicts with
| the foregoing provision.
SEC. 2. That section three 81 Of said act
be and the same is hereby amended so as to read:
Section s. The amount of the capital stock Of
any such corporation hereafter organized shall
not be less than five hundred Thousand 600 OOO)
dollars, but the same may he increased at any
time by a resolution OF twO-thrds (23 Of the
directors to any amount not exceeding two mil
lion e 600, OOO) dollars; aud the same shall be
divided into shares OF one hundred QOU dollars
each.
SEC, 3. That section four (4) Of said act be
Section 4. No such corporation, hereafter or
ganized, shall be authorized to transact any
or sny Is until
capital stock shall have been subscribed for, and
two hundred thousand 100000 dollars on ac-
vided. Said two hundred Thousand GOO. 900
dollars shall be invested in bonds OF the United
bonds Of other states which shall have the ap-
proval Of the state auditor or public examiner:
or in the bonds or obligations of the CITY
of St. Paul or Minneapolis, or in the
bonds or obligations Of any 1ncorpor-
ated city Of the state containing population
Of not less than five thousand l5 900 souls
which bonds have not been issued as a bonus
for, or purchase of. or subscription to- any rail-
road or other private enterprise. and whose total
bonded indebtedness does not exceed five (5)
per centum Of tho then assessed valuation of the
real and personal property Of such ctty or in tho
Donos OF any olgsnized county IN TINS state,