The Appeal. [volume] (Saint Paul, Minn. ;) 1889-19??, 1901-04-20

IS Sec ne ase i Il Rs EehGS fn9 of FuNDsrha
~ q
IN re st Rs t Of sna 81
States States Or state or national bank stock or in
th # s9i Ssats ats
p or ANY etS sgM q the EQUITY Fl ahs
having legal authority to issue the same or
/ IN any. interest or Sdividend-payng stock or
ponds issued under the laws of this state or
any other state Of the United States. or in
iPf fRs bn fss
loaned thereon, exclusive Of buildings, except
when such buildings are insured and the
on sds aay e The
above named; provided, always, that the cur
Be- st al fqs e nSnF ss
| Of such leans at least twenty per cent more
, Lhan the sum loaned on them, and all such
pany to terminate the same in case Of the de-
probation Of the securities below said limit;
shas II all e Of aS tide
debt shall accompany the mortgage or deed Of
or fta that
shall ever be bought, contracted for or received
at greater price than their known market
Investments be contracted for, bought or re-
a Is waap any, has been
may also make loans upon it's own policies, but
in the. computation Of the value Of the assets
OF such company q lean upon policy Of such
company shall never be valued at more than
an, amount mount equal to the net reserve against
Sec "a RIGHT TO PURCHASE, HOLD
AND CONVEY REAL ,ESTATE.-No company
organized under this act shall be permitted to
purchase, hold or convey real estate except
forth:
l.. Fer the erection and maintenance of
transaction Of its own business. 'o0'' toA 'ne
2. Such as shall have been nortgaged to 1T
IN good faith by way Of security for loans. for
8. Such as shall have been conveyed to it in
satisfaction of debts previously contracted In
T. such a as IS shall hsSs: Been purchased at
upon Or sds o naS ds or
company Incorporated as Aforesaid shall pur-
chase, hold or convey real estate in any other
CAGES ses o. tor w a9E 9t5 MI7g pTrpezs
ss' fsqqy' buas
such Company IN the Ut ans Of its busi
ness. shall, except as hereafter provided, be
sold and disposed Of within ten years after
such company shall have acquired title to he
same. No such company shall hold such real
estate for longer period than that above
mentioned unless the said company shall pro-
eempanS ol viii suirer materi s By Forced
time for the sale may be extended to such
time as the said insurance commissioner shall
SEC Sec u rs SAG Go ss1flIe1s FOR Rn1NsuR-
ANCE.-Any corporation organized OF doing
business under this act may assume or REIN
ISOLATION engaged in the business OF life in
Sy Ro1 bos rGh Of as may a. be
thereof at meeting regularly called and
held. Any corporation organized or doing bust
ness under thls act may transfer its risks to
ISOLATION or society doing business on the
stipulated premium Or old line legal reserve
or reinsurance shall have been hrst submitted
to and approved by the insurance commits
r S Sdte the Of it G or BY 5
present and voting in person or by proxy at
any regular meeting Of such corporation, or
at a special meeting thereof called to con
written printed notice shall have been
mailed to each stakeholder member at least
sue6 os 1Gr or do
business under this act shall transfer it's risks
Or any Part sFse f4 a any aur
abp o n1 or society let Of any
time OF such transfer reinsurance author
TIE fore
going de. declaration shall not prevent CON- n:
5G poy fh' eaf 81
by paying therefor agreed premiums in annual,
sem1-amlual Or quarterly tnstallments. In case
the sse 81 ths t sus ah
nsaed eyer R t. shsre ms GSanK
shall have the right. at any time, with the.
consent Of such. corporation except when and
to make change in his payee Or payees, or
beneficiary or benefciaries, without requiring
the consent of such payee or beneficiary, pro-
saey ya ar pdi sp mas Is nh ofSer e
ton; but no change of beneficiary Or assign
" 'se se' cs s:e EXisr1Ne COMPANIES MAY
Ge oS RniN
CORPORATION.-Any corporation, assoeia-
ton Or society organized under the laws Of
81 life ao q n
transacting such business; may at any time be
or mutual company under the provisions of this
act either Its then existing name under any
other name approved by the insurance COM
To reincorporate or reorganizs 1t shall be
necessary: ,,.l..s
l.. That resolution be passed by the board
Of directors, managers or trustees authorizing
and directing such reinsurance or reincorpora-
2. That such resolution be adopted by
tWo-thirds vote of the members or majority Of
the stock represented !s and present and voting
ing called for that purpose, whereof O. written
Or printed notice shall have been duly given
tha tdts atSs es ssea anil
| knowledged by two officers and by majority
Of the remaining directors, showing:
(a) The passage and adoption Of such reso-
luton above prescribed.
ID That there are sufficient lives insured to
comply with the provisions OF section six CO.
(c) All matters required to be set forth in
articles Of Incorporation as provided By section
And in ~ ad i thereto tn. reorganization
or reincorporation be upon the stock plan and
o Of the eass # stoG lis a2 tie be
piled with. When such a resolution shall have
sS aRs aaeStea 9ss
Of she ste at and an such
with the insurance commissioner in the case
Of reincorporatidn or reorganization mu-
t an se hen in sddtGn thereto
piled with in the case of reincorporation or re-
organization as! stock company. the insur.
Or a1ias
seal OF his Office and attach thereto copies OF
all copies 50 filed with him and authorizing
the company to do the business Of life insur-
ance upon the plan and basis set forth in such
papers; and such corporation, association or
1s 70 the
visions Of this act as a mutual company If it
divisions one, two and three Of this section;
and If. in addition 1t has complied with the
&c se ad xa s. this as i ah
g tbs and n stbsr sg The
have all the corporate rights and privileges Of
a sinilar company originally Incorporated
hereunder. -... 49,. :!
he sase ii
ity herein required may use the same in
whole or In part tor making the deposits here
In provided for. - - T. nt=
The amount paid In for capital stock in
such case and the unpaid notes of subscribers
and all securities therefor shall be liable for
the payments of all debts and liabilities and
claims Of polioyholders existing prior to such
Sec 20. EFFDcT OF REINcoRPoRA-
TION.-Such reincorporation or Reorganization
shall not affect or change the corporate identity
OF such company, nor shall Vt affect In any
manner its corporate rights or liabilities, all Of
which shall. after suoh transportation re-