New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1895-05-22

Is Y pn request or any domestic insurance
company the said Insurance commissioner
may return to such company the whole or
any portion of the securities of such COM
pany held by him on deposit. when ne shall
be sat1sfied that the securities so asked TO
be returned are subject to mo liability and
not required to be longer held by any pro-
post. And he may return to the trustees
or other representative authorized for unaI
purpose of foreign insurance COMPANY
any deposit made by such company when il
shall appear that such company has ceased
to do business in this state or in the United
States, and that such company is not sub.
aject to any liability in this state tor whose
benefit such deposit was made.
An insurance company which has made
such deposit, or its trustees or resident
manager i'll the United States, or the inslr-
ance Commissioner, or any creditor of such
company, may at any time bring in ,Ie
district court for the county of Ramsey a
suit in equity against this state and other
parties properly joined therein. to enforce,
+ administer or terminate the trust created
by such deposit The process in such suits
sal De served upon the insurance lhai com
and answer in its behalf and perform such
orders and DEGREES as the court may make
sthereupon
Sec 49, The compensation Of receivers
OF lnsolYent insurance companies shall be
fixed by the district court. All accounts
rendered to the court by such receivers
shall be referred to the insurance commits
slOner for his examination and report there
| on Such receivers, at the expiration of one
|
court, or if they then have in their hands
for distribution or deposit moneys or divi-
dends uncalled for, when the same shall be
| paid into the treasury of the State and
! their final account allowed by the court,
| shall deposit with the insurance commits
sioner, together with all papers and records
| relating to their receiverships, all books
4 and papers of such insolvent company.
Sec. 81. Every fire insurance company
shall annually, on or before the first day
| Of February, and every other company
/ before ffteenfh
day of February file in the Office Of the in
| surancer commissioner a statement which
thirty-frst day of December of the previous
year and its business Of that year. For
| good cause shown the commissioner may
extend the time within which any such
| StatementNmay be filed, but not to q date
later; than the first day of March
t. Every such annual statement snail be in
| the form and of the specifications the in
surance commissioner may require. Such
statement shall be subscribed and sworn
to by the president and secretary, or, in
| their absence. by two of its principal Off
| GERS.
| The annual statement of company OF a
| foreign country. other than life insurance
company, shall embrace only it's business
and conditions in the United States, and
| snail be subscribed and sworn to by its
resident manager or principal representa-
tive So1 IN s charge Of its American business
For filing each annual statement, each
foreign company shall pay the sum of
! twenty dollars.
The transaction of any new business by
| any company or its agents after neglect to
file a statement as herein provided shall be
| unlawful
Sec. 95. Whenever a Judgment for the
| recovery of money has heretofore been or
| hereafter may be recovered in any Of the
! courts of this state or in any Of the courts
of the United States having jurisdiction In
| this state, against any insurance company,
| or against any association, partnership,
! firm or individual engaged in the business
of Insurance. and holding a certificate of
authority therefor from the state treasurer,
! under the laws Of the state, or from. the
| insurance commissioner under this act. and
an execution thereon is issued and duly re.
! turned unsatistied in whole or in part proof
! is made by any person by filing with the
insurance commissioner a certified tran
| script of the docket of such Judgment, to-
| gether with the certificate of the clerk OF
co Tn in t sad oc6g ea tn and te
l judgment therein is dOcketed that an exc
! cution has been issued on such Judgment
to, the proper officer OF such county and
! returned unsatisted in whole or in part,
/ and with the date of issuing and return,
the insurance commissioner shall forthwith
revoke all authority or license for tho
| transaction of any kind of insurance bust
ness within this state conferred upon such
insurance company. association. partner
ship. firm or individual under the provi-
| sions of this act, and shall withhold there
| from any new certificate Of authority such
as is contemplated herein, until such juds-
n,enI. is docketcd against such company.
|
| wholly paid and satisfied. and proof thereof
| filed wifi such commissioner by the officia.
certificate, Of the clerk of the court In the
county wherein the judgment roll is fled
and judgment docheted. showing that the
san" is satisfied of record. and until the
| EXPENSES anG fees incurred in the case
| under the provisions Of this title are also
| pail by such company partnership, firm
| 0" indivdual; and the insurance commits
| sione' shat: also forthwith cause notice OF
| 5 lch revocation of authority to be published
lished at the capital of the state, for at
least one week. and during the time such
shall b, unlawful for the company: aSsO.
citation, partnership, firm or individual
holding such revoked certificate of author
ity or any Of its agents or officers, to Issue
| or renew any policies of insurance. take
any risks or transact any business relating
to INSURANCE., except such as is absolutely
necessary in closing up its affairs in this
state.
Sec &c. All insurance companies organ.
lied under the laws Of any other state or
nation. doing business in this state shall
| annually pay to the state two per cent on
| all premiums received in cash and other
! obligations Except what are denominated
insurance deposit notes, representing div-
dends Of the company and the assessable
| premium notes Of mutual fire insurance
| companies) in this state, by their agents or
otherwise, during the year ending on the
| which sum shall be in lieu of all other
taxes to be collected from said companies
| in this state, except upon the real or per-
sGnal property owned by said companies in
| this state. which shall be taxed the same
| as like property owned by individuals, and
not otherwise and all INSURANCE "a companies n,
nesota, or organized under the general
laws Of the state. shall pay to the state
| two per cent on their premium receipts in
this state. and shall also pay taxes and
| assessments upon real estate owned by
| them within the state, in like manner and
in like amount as real estate owned by IN
Its, ,1rs ., Il and n.
| ditional taxes shall be collected OF such
| companies other than the fees provided by
law. In case of the refusal OF any !nsur-
ance company to pay such tax the insur-
ance commissioner shall at once revoke the
authority to do business in this state. and
shall not renew the same while SAID TAX
| remains charge against said company.
| Sec. 81 No company in this state other
than fire, marine, or fire and marine, ha!i,
farmers mutual or real estate title insur-
ance companies shall do business in this
| state unless it has on deposit with the in
| surance commissioner of this state as Sc
surity for all its policyholders stocks or
bonds Of this, state. or Of the United
ties of this state, or personal obligations
i secured by first mortgage on real estate
within this state, worth. exclusive of build
| ings, the amount of the lien and bearing
| interest of not less than three per cent per
annum, to an amount the actual market
value OF which, exclusive, Of interest, shall
never be less than one hundred thousand
| dollars; which stocks, bonds or mortga geS
4 shall be retained by the insurance commits
sioner and disposed Of as directed by law;
| provided, however, that the deposit OF
mortgages on real estate shall not exceed
! the amount of fifty thousand dollars. AS
| long as any policies of the depositing COM
pany remain in force the insurance COM
missioner shall hold the said deposit Sc
| curity for all holders of its policies; pro-
/ vided, any insurance company of any other
state of the United States in which the
/ provisions of law contained in this act
i shall be in force, may file with the insur-
/ ance commissioner of this state certificate