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


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have and keer, ON denosft 8or in stt,e, ha1,tla
of trustees, as provided in sections seventy
8 nine and ei1hty-one In exclusive trust for
the security Of its cOntraets witt, policy-.
holders in the United states. funus Of an
amount equal to the net va value of all its
policies In the United =Ststes and not less
than one hundred Thousand dollars go
Sec. Sc No life Insurance company doing
business In Minnesota shall make or permit
any distinction or discrimination in favor
of individuals between insurants Of the
same class and equal expectation of life in
the amount of payments or premiums, or
Iellt illSurau CO. or in tfle dividends or other
benefits payable thereon, or in any other OF
the terms ana coilulIloIis of the contract it
agent thereof, make any ns'e contract 81 insur.
other than IS plainly expressed n in the policy
o
ai ,euv, any Involvement 70 insurance, any
n =. pre1inm
Any specla1 ~ Inc
or G1aer Densnds 70 accrue mere
u % any galuapde y, inuure
Mafeven mou ~ lile poiics
Eva,.y c ~ To-. ~ h;o oh v;ofata any
10y " ~, lay,
~ lni onl &c ,, ,oS
ana III amy sun less ia
"a he recnvered Nv ac yie IN fha namso f
~ De ~ de.aoi, - ae e ~
shall hn no;d ene ~ ii
the hare .ne nifnSsa Was Com ~
mltted. for the benefit Of The common school
FIND Ilvarv nfiirar ,panf snb.aaanrsnr so.
iicitor Of anv s,,ch c, tion Who 3 shall
vjnata AM. ~ tho nrcs,;anna9 ~ +h;s Nseet;nn
shall ha Iieanad NrpiIt,-D of q ,,i,,n,msa No.
and upon conviction thereof shall be lined
dollars nor more than one thousand dollars
and shall pay the cost of prosecution
1t shall be the duty. Of the Insurance
commissioner, upon being satisfied that any
such corporation, or any agent thereof, has
violated any of the provisions of this sac
ton, to revoke the license of the company
be granted to such Company or agent for
one year after such revocation
Sec. g. No lifeslnsurance company shall
make any distinction or discrimina ton be-
tween white persons and colored per-
sons wholly or partially Of African
descent, as to the premiums OF rates
charged for policies upon the lives OF
such persons; nor shall any such com
pany demand or require greater pre-
miums from such colored persons than are
at that time required by such companies
from white persons Of the same age sex,
general conditions of health and prospect
of longevity. nor shall any such company
make or require any rebate diminution or
discount upon the amount to be paid on
such policy in case of the death of such
colored person Insured. nor insert in the
policy any condition nor make any stipula-
ton Whereby such person insured shall
bind himself or his heirs, executors, admin
istrators and assigns to accept any sum
less than the full value or amount of such
policy in case Of claim accruing thereon
by reason of the death Of such person in
sured, other Than such as are imposed
upon white persons in similar eases, and
any such stipulation or condition SO made
or inserted Shall be void. ANY such com
pany which shall refuse the a1niication Of
any such colored person for insurance upon
such colored PERSONS life shall furnish such
persen, on his request therefor. with the
sician of such company who made the ex
animation, stating that such refusal was
NOT because such applicant is person of
color, put solely upon such grounds of the
general health and prospect OF longevity OF
sucn person as would be applicable to white
persons OF the same age and sex
Sec. g.. Every insurance company doing
business IN Minnesota shall report in its
annual statement the amount Of forfeitures
Tor the last year and undivided surplus, or
iapsed or terminated policies which it
holds for or which is to accrue to the ben.
eht OF any class of its pOlicyholders, wheth-
er or not dividends thereof have been de-
clared on allotments made, and whether or
until distribution thereof is made; also the
amount of surplus not ordered to be dis
tributed and not included in the annual
statement as dividends due policyholders
and not appropriated to the permanent
safety fund under the provisions of sec
ton seventy five, accrued from and contrib
uted by it's policies in force.
Sec &c. Every life insurance company
doing business in this state shall annually
pay to the actuary valuing the same, as
compensation for the valuation of it's poll
sured by it on lives
Sec. TO- No domestic life insurance COM
pany. shall reinsure it's risks except by per-
mission of the insurance commissioners but
may rensure not exceeding one-half Of any
individual risk
Sec Il. When policy of insurance is eff
fected by any nerSon on his own life or
on another life in favor of some person
other than himself having an insurable in
terest therein, the lawful beneficiary there
of, other than himself or his legal repre-
against the creditors and representatives of
the person effecting the same and i nerson
to whom a policy of life insurance, here
after issued is made nayahle NAV main
tain an action thereon in his own name;
provided that subject to the statute of
limitation, the amount of any premiums for
said insurance Maid in fra,id If croditors
with interest thereon. shall inure TO their
benefit from tile proceeds of tie policy.
but the company issuing the policy shall be
discharged Of all liability thereon Dy pay
ment of it's proceeds in accordance with its
terms. unless. before such payment. the
company shall have written notice by or in
behalf of some creditor with specification
of the amount claimed. claiming to recover
for certain premiums paid in fraud of cred
itors - -
itJ NSorv no,io, of ,;fo ;ns,r.nco moda nav
able tn or for the henetit Of married
woman, or after It's issue ASSIGNED trans
ferred or in any wav made nsvan ,e To q
married woman or to anv nerson in trust
for her benefit Whether 'nrocnred hv her.
self her hnshand or anv other narso9 and
tha ,ssirnmnnt Nv y transfer is ,nr"da Nv hnT
husband OF ian any other person. shall inure
to her separate use and benefit and to
that ~ hon cbiIdran suhioct n Tho nro,i
sions Of this sact;on' raio}inr IN ~ nraminms
naid ' in frand ' Of creditors and nd nroVided
further. thar all snch nolicies NAV be sur,
rendernd in Tho mannapr" dascr;h"G i've Soc
tion seyentv-siy If this act which Section
shall annlvto tho same 49, "--o
In any claim arising 1,nder q no],cv which
has heen issund in fbis state Nv anv %
;nsuronoo onn,no,,-l III -. ~. a.! Ia