The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-04-24


Q75) of the General Laws of one thou
sand eight hundred ninety-fve QS95).
as amended by chapter two hundred
ffty-eight (25S) of the General Laws of
one thousand eight hundred ninety
seven QS9T, as amended by chapter
one hundred ninety-eight Q99 of the
General Laws of one thousand eight
hundred ninety-nine QS99), authorizing
the organization of mutual creamery fire
insurance companies and mutual retail
hardware fire insurance companies.
Be it enacted by the legislature of the
State of Minnesota:
Section 1. That section thirty-six 1850
of chapter one hundred seventy-five Q75)
Of the general laws of one thousand eight
hundred ninety-fiVe, as amended by chap
ter two hundred fifty-eight (25S) of the
general laws of one thousand eight hun
dred ninety-seven (1S9O, as amended by
chapter one hundred ninety-efght l19S) of
the general laws of one thousand eight
hundred ninety-nine, be amended so as to
read as follows:
Sec. SO. No policy shall be issued by a
purely mutual fire insurance company here
after organized until not less than seven
hundred and fifty thousand (750,0O0) dol
lars of insurance, in not less than three
hundred 900 separate risks upon proper
ty located in Minnesota, has been SUBJ
scribed for and entered on it's books. Pro-
vided, that mutual fire insurance COM
panieS hereafter organized for the pur-
creamery and cheese factory buildings
and their contents and equipments eX-
clusively, may and are hereby author
lied to issue policies when not less than
fifty thousand 100000 dollars in not less
than twenty-five (25) separate risks upon
creamery and cheese factory buildings or
their contents and equipments, located
in the State of Minnesota, has been sub
scribed for and entered on any such COM
pany'S books. Such company shall be
designated as mutual creamery fire in
surance companies" and shall issue no
policy except upon buildings used for
creamery and cheese factory purposes,
and their contents and equipments. No
officer or other person whose duty 1t is
to determine the character OF the risk, and
upon whose decision the application shall
be accepted or rejected by a mutual fire
insurance company, shall receive as any
part of his compensation commission
upon the premiums, but his compensation
shall be a fixed salary and such share of
the net profits as the directors may de-
termine. Nor shall such officer or person
aforesaid be an employe Of any officer
or agent of the company. The provisions
of section thirty-siX $3.50 do not apply to
township mutual fire insurance compa-
MES. And provided further. that mutual
fire insurance companies hereafter Or
ganized for the purpose of writing fire
Insurance upon the stock in trade, tools
and fixtures of retail hardware dealers, or
upon the store buildings containing the
same, or upon dwelling houses and con-
tents, when such building or dwelling
house and contents is owned and occupied
by the owner of such stock, tools and fix
lures, OF upon DOln SUCH STOCK, lOOlS, Tx
| lures, buildings and dwelling house and
| contents, may and are hereby authorized
| to issue policies when not less than five
| hundred thousand (500.000) dollars of in
| surance, or not less than two hundred
| Goo separate risks upon such property,
located in the State of Minnesota, has
| been subscribed for and entered upon
such company's books. Such companies
| shall be designated as mutual retail
| hardware fire insurance companies" and
| shall issue no policy except upon the
| stock in trade, tools and fixtures, or upon
| the building containing the same, or upon
the dwelling house and contents when the
| building or dwelling house is owned and
| occupied by the owner of such stock,
! tools, fixtures, or upon both such stock,
| tools, fixtures, buildings and dwelling
| house and contents. And provided fur
| ther, that mutual fire insurance compa-
| mics hereafter organized for the purpose
Of writing fire Insurance upon printing
material. machinery and stock in trade OF
! newspaper publishers and printers, or
| upon buildings containing the same. or
upon dwelling houses and contents, when
| such building or dwelling house and con-
tents is owned and occupied by the own
| er OF such printing material, machinery
and stock in trade, or upon both such