New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1899-04-26

sofa for tho year fss ~ ,nsrd \.
to read an follow Sac, a. : The % s,tt
months from the date 81 rcharter or CO.. -.
| tdficata Of orxanixsfion and M carttf,ca -
81 fuii sharee and no i,oliciaa shah hs ~
provided hoVever that "a -. comnsnW 1 n ~.
ranixed Ia >insnr1 hisvcIes aratn.t Ios.
from theft shall have its entire capital
date Of charter or certifscete nf or~ant1a s
tion ana shall IA anthnTizad 10 frnn.ac -
Iits business when not Less than tenn
fhousand dollara ~ lie a.,tSnrized con.
ftaI shall hava fsesn nnid IN 1920 -
a maioritv Of the 5ireetnr. sha1, certify
on oath thai the money has been Maid by
shares s and the same 4 held as tie cap.
vested Ks reuufred nv this section. The
capital stock and denominations Of any
invested IN the bonds or treasury notes
Of the United States or rational
bank stock or interest bearing bonds
~ the TInited States or ~ anv civ town
~ cn,,ntu IF thia Stn+e ar anu otier. stata
Of the Tinted states. having legal author
Vsl,e 5or s IN anV ,ntarest or diViiiend nav.
mo s+ocL. - -, honda iss,ed ,ndar the r. Wa
Of this state or any other state Of the
TTnifad Sta+o. ~ fhair I-nown rnarEef
ya1e or taw nav he inveated or Ioaned
on morfraeas ~ ,1g,nc,nobereG real estate
In thia or sny other state IF the tinted
| States worth at least twice the amount
loaned loaned thereon. exclusive of buildings
except when such buildings are insured
and the noIicies duiy assigned as addi-
tionai security; or loaned on pledges Of
market yaiua Of such pledged securitias
shall be at all times during the continu-
cent more Than The amnlnt snansd p on
the po% ara al inch eaas are pbei
curities below the limit: e and provided
that IN ali investmenta NADIA mon mort o
gagged securities the evidence Of the. debt
fr1st aeo1ipe'i' .'e 1noi " oeeu u
Seo Tba+ soction ~ NJ cb.n+er 17s
of the general laws Of the State Of Min
nesota Tor the year 1885 be amended so
eien Insurance. company shall he 40 ad-
mitted and authorized to do business un-
til it shall deposit with the insurance
fer or articIes Of characterization and a
Statement of its financial condition and
business, in such form and detail as he
PRESIDENT and secretary or other proper
oficer and shall nav for the filing of
such COPY the sum Of thirty dollars. and
Of twenty dollars. go =.
Second.It shall satisfy tha Insurance
commissioner that If Is. f,,liv and legally
organized under the laws Of its state or
government business
noses to transact: that # has If a stock
comnony f,,IIv najI m ond nnir,nairad
CAPITAL exclusive p Of stockholders' obi
not less than ia reGuirad If sinilar COM
non,as rorned ,1ndar Tho nrnWiSions If
this act: save and except that COM
AGAINST loss from theft shall, have a
CAPITAL of not less than twentV-fiva thou
sand dollars fully paid up and properly
invested and deDosited With fhe insur-
such company is oreanized: and. if a
mutual company other than life, that it
has net cash assets equal to the capital
REQUIRED Of like COMPANIES on the stock
plan. that such CAPITAL or net assets are
well Invested and .fmmediateiv available
for the payment of losses in this state,
a s1,n, No larger, than ona-twantiath ~ ita
capital and surpius- # engaged In life
fire or marine Insurance. ana except that
r. r. he counanv Ieoe1iw tronsrec t
business Of fire. ins,irancs nyer ihs IL s
Of some other state Of the United States
~ Shall he On "aGmitted and emthori1aSS
with the insurance commissioner Of evi,
dence IF that~fact topefher with q sworn
statement Of it's financial Condition, show
seven hundred and fiftv thousand dollars
of Insurance in force on which the pre.
MUM has been paid, covering no less
than three hundred separate risks. and is
losses incurred and to provide for a re-
Insurance reserve az renl,irad NV section
eleven of this act. ~''
Third-It shall nv du,v executed In
strument filed in his Office. constitute and
anpoint the insurance Observation-Disclosures or ei hi.
successor its true and lawful attorney
action or legal proceeding aaainst # NAV
be served. and therein shall aeree ihat
any lawful process against it Which nav
be Of the same force and validity as
If served mon the comnanv and thai
the AUTHORITY thereof shall continue in
force irrevocabie SO long as any liability
Of the comnanv remains oufsts ndine IN
this state "
The service of such process shall he
made by leaving the same in the hands
such instrument certified by the commits
sioner shall he deemed sufficient evidanca
thereof and service mon such sttornev
the principal. = :, (
Fourth-It shall appoint az its agent
or agents in this state some resident or
FifthNIt shall obtain from the ,nsur-
ance Commissioned a certificate that IL
has compiled With the laws Of this State
Insurance. No1 - 'Ns1Ne >oi'.' Ae'' u
Sec 4 That section 81 of chanter 175
of the general laws Of the State of Mime
sofa for the year 1895 be amended so as to
this state other than fire marine Or fire
and marine. hail. FARMERS mutual or
real estate title Insurance Companies
shall do Insurance. in this state unless #
has on deposit with the insurance com
missioner Of this state as security for all
it's policyholders. stocks or bonds Of this
state or Of the United States or bonds
of any Of the municipalities Of this state
or personal obligations secured by first
mortgage on real estate within this state
worth. exclusive of buildings. the amount
than three per cent per annum, to an
amount, the actual market value of
which, exclusive OF interest. shall never