The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-04-19

visions OF this act, which record shall
| snow the date number and amount OF
| each bond, the rate of interest the time
| when due, the places where payable and
i the name OF the Party 10 Whom Issued.
Sec. 1. The board of county commits
| sloners shall annually, after the date OF
| issuance of said bonds, levy a tax upon
| the taxable property Of said county, IN
| addition to all other taxes levied, sufti-
clent to pay the interest annually 0ccru-
| Ing upon the bonds issued in pursuance
| of this act, and when any of the prin-
clpal Is about to become due and payable,
| they shall In like manner levy a sufficient
| aHount of taxes to pay such principal
| when due.
| Sec. .. The board of county commits
slonerS shan nave authority to negotiate
said bonds, but for nos less than .ar
value. rf
Sec. Q. This act shall take effect and
| De IN force from and after its passage.
Approved April g. 1901.
CHAPTER 1865. F. NO. 1893
AN ACT making it a mlsdeneanor for an
employe to obtain railway or other
tranSpOrtati ton, or the benefit of other
ARRANGEMENTS made by EMPLOYERS TO be
| thereafter repaid in labor, to refuse to
perform such labor or repay such adj
J ment thereof.
Be 1t enacted by the Legislature of the
State of Minnesota:
Secton l. Every elnploye who, with
intent to defraud shall accept or receive
transportation provided by or at the in
stance or expense of his EMPLOYER from
any point an this state to or in the d.
t tecoton or the place where he has con-
tracted to perform labor for, or render
services to such employer, or" who shall
knowingly, anG with intent to defraud
accept or receive the benefit Of any other
pecun1ary advancenents made by or at
the instance and cost of his employer,
under an agreement Oh the part of such
etnpIoye to perform labor or render serv-
ices In repayment of the cost of such
transportation or of such other benefits
shall be deemed and adjudged guilty of a
Inloemeanor. if he shall neglect or re-
use IL 70 render services or perform labor
OF an equal value to the full amount paid
Tor SUCH transportation or other benefits;
or snail neglect and refuse to pay such
employer eng Yer IN money the amount paid there
LOT Ihe value Of the services to be rem
dered. or labor to be performed. shall be
determined by the price agreed to be paid
therefor by such employer under his CON
tract with the employee
The failure or refusal of any s1,oh ern
ploye to perform such labor or to render
such services In accordance with his con-
1r aiG 60 or to pay In money the amount
etlts, shall be prirna facie evidence of his
intent to defraud
Sec. 2. Every person found guilty Of
such m1sdemeanor shall be punished nv a
fine not exceeding twenty-five dollars
$500 and by imprisonment Of not less
than ten QO nor more than sixty (6OJ
Sec. 3. All acts or parts of acts incon-
slstent with the provisions of this act are
hereby repealed.
Sec. 4. This act shall take effect and be
In force from and after its passage
Approved April 6, 1901
CHAPTER 1865. f. NO. e5.
AN ACT to amend cnapter IT'S of the
General Laws OF 1885, relating to m
Surance.
State of Minnesota:
Section l. That section of chapter 10
of the General Laws OF 1895 be amended
so as to read as follows:
Section 1. This act may be cited as
Inc minnesota insurance act OF eighteen
hundred and ninety-five. When consis-
tent With the context and not obviously
used IN different sense, the term com
pany, or INSURANCE company" as used
hereln 1ncluoes all corporatIons, assocla-
lions, partnerships or individuals engaged
as as pFlncIpa4s IN the business Of insurance.;
the word domestic" designates those
companies Incorporated or formed in this
state, and the word foreign" when used
without limitation, includes ali those
formed by authority Of any other state
or government; the terms ''unearned pre-
mlurnS and reinsurance reserve and
met value Of policies or premium re-
serve severally intend the liability Of an
insurance company upon it's insurance con
tracts, other than accrued claims, COM
puted by rules Of valuation established
by section IL; by the term met assets is
meant the funds of an insurance company
available for the payment of its obMga-
lions in Minnesota, Including, in case Of
a mutual fire company, rs deposit notes,
or other contingent funds including the
contingent liability of its policy holders
as provided by the laws of this state;
and in case Of q mutual marine or
mutual fire and marine company, its
subscription funds and premium notes
absolutely due, and also Including uncoI-
lected and deferred premiums not more
than three months due, on policies ac-
tually in force, after deduoting from such
funds all unpaid losses and claims and
claims for losses and all other debts and
liabilities, exclusive of capital; the prof
that portion OF its cash funds not re-
qufred for payment of losses and ex-
penses, and set apart for any purpose re-
quired by law.
Sec. 2. That section ~ Of chapter rs
of the General Laws Of 1895 be amended
so as to read as follows:
Section AZ. Whenever a. mutual fire In
surance company is not possessed of cash
funds sufficient for the payment of in
CURED losses and expenses, it shall make
an assessment for the amount needed to
pay such losses and expenses upon it's
members liable to assessment therefor
in proportion to their several liabilities.
The company shall cause to be recorded
in a book kept for that purpose the order
for such : assessment. together with a
statement which shall set forth the con-
dItion of the company at the date Of the
! order, the amount of it's cash assets and
office deposit notes or other contingent
funds liable to the assessment. the
amount the assessment calls for and the
particular losses or other liabilities it is
| made to provide for. Such record shall
be made and signed by the directors who
| voted for the order before any part Of
the assessment is collected, and any per-
| son liable to the assessment may insp sct
and take a copy of the same:
Sec. 3. That section AZ Of chapter 1ss5
| of the General Laws of 1895 be amended
SO as to read as follows:
| Section 43. When, by eason Of depre-
citation or loss of its funds, or otherwise,
| the net assets of such a company, after
| providing for its other debts are less
than the required premium reserve upon
its policies, it shall make good the de-
ficiency by assessment in the mode pro-
| vided in tho preceding section, notice Of
| which assessment shall be filed in the
| insurance commissioners Office or if the
directors or insurance commissioner are
| Of the opinion that the company is liza
| bic to become insolvent, the directors. or
| upon their failure for a. period Of five
! days to do so, the insurance commission
| er, may, instead of such assessment or
| der two assessments to be made, the first
| determining what each policy-holder must
| equitabiy pay, or receive in case of with
drawal from the company and having his
| policy Cancelled, the second what further
the uneNpired term of his policy at the
| same rate as the whole was insured at
| first. Each policy-holder shall pay or
| receive according to the first assessment,
! and his policy shall then be cancelled,
| unless he pays the sum further deter
! mined by the second assessment, in which
| case his policy shall continue in force;
| but in neither case shall a, policy-holder
| receive or have credited to him more than
| he would have received on having his
| policy cancelled by vote of the directors
| under the bylaws.
If within two morft11s after such al
| ternetive assessments have been collect
| ible the amount Of the policies whose
| holders have settled for both assessments