The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1894-01-31

| instrumental in securing a certificate
OF insurance on an aged or infirm per-
son. or restores insurance on a per-
SON not in an insurable condition shall
be deemed and held to be guilty of a
misdemeanor; and, upon conviction
thereof, shall be fined in any sum not
less -than 500, nor more than $500, to
which may be added Imprisonment in
the. penitentiary not less than thirty
days nor more than two years.
REMEDIES IN COURT.
Section II. Whenever any such cor
poration or association, shall fail to
make its annual statement to the au-
ditor of public accounts before the 31st
day of January; or, if in the opinion
OF the auditor of public accounts, it is
conducting its business fraudulently or
not in compliance with this act, or is
not carrying out its contract with the
members in good faith, then it shall
be the duty of the auditor of public
accounts to communicate the fact TO
the attorneys general, or the attorney
representing the territory who may.
thereupon commence proceedings by
writ of quo warranto against such cor
porauon, association or society, re-
curing it to show cause why its officers
should not be removed or its business
closed, and the court or judge, as the
case may be, shall thereupon hear the
allegations and proofs of the respec-
tive parties; and, if it shall appear to
the satisfaction of said judge or court,
that the officers Of such corporation,
association or society, or any one or
more of them, have been guilty Of ma
terial irregularity or violation of law,
TO the injury of such corpora ton. asso-
citation or society, the said judge or
court shall decree a removal from Of
flee Of the guilty parties, and substi-
tute suitable persons to serve until the
regular annual election, or until sue
ceSsor is regularly chosen: or. # it
shall appear to the said judge or court
that the interest of the public so re-
quire, the said judge or court shall
decree a dissolution of such corpora
ton. association or society, and n dis
tribution of its effects.
BONDS OF OFFICERS.
Section IL. No agent or officer of
such corporation, association or society
shall be permitted to collect or receive /
any dues or assessments for or en-
account of the same until he executes !
Jointly, with two responsible sureties !
"a bond to the corporation, approved by /
the board of directors thereof, in such !
sum as they shall PRESCRIBE, conditioned
upon the payment of all dues, sSsess- j.
ments and funds, over to the proper !
officer of such corporation, and all re- !
ceipts of amy such corporation shall be
paul 4AtlO Tic udIlUS VI Tic lIS1SuIGI
thereof, who shall, before ass uning the |
duties of his Office, give a bond in the /
sum of not less than $4,000, with not I
less than two Sureties, to be approved |
by the board of directors and condi- /
toned for the faithful performance of /
his duties and the accounting for and |
the proper payment and disbursement /
by him of all moneys thereof which !
come into his hands.
r-DEk csrr1ou,r, DON-n
Sec. 13. Said bond of the treasurer
shall he examined as to its efficiency I
annually by the auditor of public ac-
counts, and it shall then be renewed |
if he shall deem the present bond in
sufficient Said bond shall be recorded /
in the recorders office in the county in
this Territory in which its principal
place of business is established, and a
certified. copy of said record shall be
filed and preserved in the office of the
secretary of the Territory.
FOREIGN COMPANIES.
Sec. Il. Any corporation, association
or society, organized under the laws
of any other state or government, to
insure lives on the assessment plan,
or any corporation carrying on the bust
ness of life or accident insurance on
the assessment plan shall be author
lied by the secretary of the Territory +
upon ln6 Payment IL LlIu VI d lee OIL
twenty-five dollars to do business in
this Territory; provided, such corpora
ton or association shall first deposit
with the secretary of the Territory a
certified copy of its charter or articles
Of Incorporation, a copy of its state
luent of business for the preceding
year. with the names and residence of
its officers, sworn to by the president
and secretary, or like officers, showing
a detailed account of expenses and in
come, the amount of insurance in force,
it's assets and liabilities in detail and +
setting forth that it has the ability to
pay its policies or certificates to the
full limit named therein. A certificate
from the insurance commissioner or
from a judge or clerk of a court of
record of its home state certifying that
or associations insuring
life on the assessment plan, and paying /
policies in full or providing accident T.
and chartered under the
laws of such state, are legally entitled
to do business in its home state; a
copy of its policy or certificate of mem
bership, application and bylaws which
must show that death losses are, in the
main, provided for by assessment upon
the surviving members; and it shall
also legally designate a person, agent
or attorney in fact, residing in this
Territory, upon whom services of pro-
cess for said company or association
may be made.
RECIPROCAL OBLIGATIONS.
Sec Is. When any other state or
government shall impose any obliga-
ton upon such corporation, association
or society of this territory, or their
agents transacting business in such
other state of government, the like OBJ
legations are hereby imposed on similar
corporations, associations or societies
Of such other state or government, and
their agents or representatives trans
acting business in this territory.
IN CASE OF NEGLECT.
Sec. 16. Such corporation, associa-
ton or society shall pay to the auditor
Of public accounts, upon filing each an
nual statement, fee of $40. And in
the event of it's failure to make such
statement on or before the 31st day
Of January of each year, it's license
shall be revoked, and thereafter, or
until such statement is made, it shall
be deemed to be doing business unlaw-
fully in this territory. When the
auditor Of public accounts of this ter
ritory shall have reason to doubt the
solvency of any such foreign corpora
ton, association or society, he shall
accept a statement from the insurance
or like officer of the
state under whose authority it was
organized. as prima facie evidence of
its solvency.
QUO wARRANTo PROCEEDINGS.
Sec. II. When, in the auditors
opinion, such corporation is in this ter
ritory conducting its business fraudu-
or is not carrying out its
contracts with members residing in
this territory, in good faith, he shall
report the same to the attorney-gen-