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

contain
its title the word mutual"
Second-The general nature and the
proposed method and plan of its business,
and the place of it's principal office, with
annual meetings.
Third-The names and residences of the
persons so associated to form such cor
poration.
Fourth-The time of commencement,
and the period of duration of such cor
poration.
Fifth-The number, names and places of
residence of its first board of directors,
the first officers, and the time and place
of electing their successors.
Sec. 3. Such articles shall be acknoWl-
edged by the persons signing them in the
manner provided by law for the acknowl-
edgeEnent of deeds, and together with
certificate of the president and secretary
under oath, recittng the amount of insur-
ance subscribed, the number Of risks, in
how many counties and townships located
and the largest number in any one town.
snip, and reciting the membership fees
Corrected, to be not less than the amount
risks and amount of fees provided in sec
ton one % of this act, shall be filed for
record in the office of the insurance COM
missioner for this state.
Sec. 4. The insurance commissioner of
this state shall, before recording such
articles, and without unnecessary delay,
examine the certificates, and if he shall
find that all of the provisions contained
in section one % of this act have been
complied with, and if he shall find that
such articles have been executed in con-
Iormlty with the provisions Of this sct,
he shall endorse thereon the word
approved date and sign the same, and
he shall thereupon record the same in the
records Of his Office, and shall issue under
his hand and official seal. and deliver to
said corporation his certificate to the
effect that such corporation has been duly
incorporated under the provisions of this
act and Is a body polite and corporate
MI 80 y,n1 -1In Nd
full authority to transact business from
and after the date thereof, subject to the
provisions of this act.
Such certificate shall be recorded in the
office Of the register of deeds of the coun-
~ wherein such corporation shall have
its principal office, and said certificate and
records and any certified copy thereof
shall be received in all the courts Of this
state as prima facie evidence that such
corporation has been duly organized and
created under the laws OF this state;
provided. that If any such company shall
not commence to issue policies within one
corporate power shall expire by its own
limitation, and upon petition. of the
insurance commissioner, of which
such corporation in the same
manner as is provided by law for the
service of summons in civil actions. the
Judge of the district court in and for
the county wherein the articles of incor-
poratiOn designated to be it's principal Of
fee, may upon ten 90 days notice to
such corporation of the time and place of
hearing, and upon due investigation, by
decree. limit the time within which it
shall settle and close up its affairs.
Sec. 5. Upon the issuance Of such GER
ttficate, such incorporators shall be and
transact the business of mutual insur-
ance against loss or damage to property
by hail, tornadoes, cyclones, and hurrt-
canes, in such manner and upon such
tar he aiy la1 o,o1
thorized by its bylaws, it shall have
perpetual succession, sue and be sued,
contract and be contracted with, i'm
plead and be implicated by it's corporate
name, in any court of this state. and
shall possess the usual powers and be
subject to the usual duties of corpora
lions.
Sec 6. The articles of incorporation
may be amended in any respect not in
consistent with the provisions of this act
at any annual meeting of the members
of the corporation, upon vote of two
thirds (2-3) of the members present and
represented at such meeting.
Sec. Z. The general management of
the business Of such corporation shall
be vested in board of not less than
five 90 directors, each of whom shall,
during the term of his office, be mem
Der of said corporation, such directors
may be divided into one, two, three,
ed by its bylaws, and shall be elected at
the annual meeting, in such manner as
that the members of one class shall re-
tire and their successors be chosen each
year, or at such other time or times as
the bylaws may prescribe, and who
shall hold their office until their success
sors are duly elected and qualified; va
cancies in any class may be filled by
pensation to be fixed by the bylaws.
The directors shall choose from among
their own member a president, secretary,
treasurer, and such other officers as the
WI VIC do N che <riNr
such bonds with such surety as shall be
required by the bylaws or the directors
of the corporation, whose respective
terms of Office shall be one % year, and
until their successors are elected and
qualified. and whose duties and compen-
sation shall be such as is provided by
the bylaws, provided such bylaws shall
not be so amended as to increase the
salary of any officer except by a major
ity vote of all Of the members present
and represented at any annual meeting
of the company; provided, further, that
such salary shall be in full compensation
to all officers, and neither the officers or
directors shall receive any commissions.
Sec. s. Every person insured under
the provisions of this act shall be mem
Der of the corporation while his policy is
in force, entitled to one vote for each
policy he holds. and shall be notified of
the time and place of holding its meet
ingS, by written notice, or by an. imprint
upon the back of each policy, which no
tice shall be substantially as follows: THE
assured is hereby notified that by virtue
of his policy he is a member of the. .....
insurance company of and
that the annual meetings of said COM
pany are holden at it's home office in. =.
ION the. day of. 80. in each
year, at o'clock -. m"
The blanks shall be duly filed in writ
ing or print, and the same shall be
deemed a sufficient notice.
Members of such corporations are en-
titled to vote by proxy at any meeting
yiAsS IaT Il
and filed on or before ten 90 days prior
to any annual meeting; provided. no
proxy shall be valid after a period of
three months from date. and to be exc
first day of October of any year.
Such corporations shallEprovide in and
by their bylaws the manner, terms and
conditions upon which any member may
withdraw, be suspended or expelled and
his policy cancelled and terminated.
Sec. 9. All companies organized under
the provisions of this act shall charge
and collect on their policies at the time
MUM in cash, or notes absolutely pay
able, at a rate which shall not be less,
in the hail department than two and
one-half per cent per annum of the face
amount at risk.
Each policy holder, in addition to the
premium paid or contracted to be paid
shall be liable to an assessment to pay
his proportional part of all losses and
expenses sustained and incurred while a
member of such company, not exceeding,
however. in addition to the premium
named in his policy and contract, a sum
equal to such premium, provided such as
heretofore paid or contracted to be
paid, shall not in any one year exceed
the sum of five per cent; provided he is
notified of such assessment within nine
ty 900 days after the expiration of his
policy and if his policy is for more than
one "a year, within ninety 600 days