The Appeal. [volume] (Saint Paul, Minn. ;) 1889-19??, 1903-05-02

by adopting and signing articles Of moor
- First-Tho name Of the corporauon'
which shall not be the same th as that PIE,
in this state, and which shall contain IN
it's title the word mutual" o
T., Second-The general nature and the
proposed method and plan Of it's business,
the time and place where shall be held its
annual meetings. -,
Third-The names and residences of the
persons so associated to form such cor
Fourth-The time of commencement,
and the period Of duration OF such cor
Fifth-The number, names and places OF
residence of it's first board Of directors,
the first officers, and the time and place
Of electing their successors,
Sec. g. Such articles shall be acknoWl-
edged by the persons signing them in the
manner provided by law for the ackn0"l-
edgement Of deeds, and together WIN a.
certificate of the. president and secretary
ance subscribed. the number of risks, IN
how many counties and townships located
and the largest number in any one Town.
e eoifected to oe be- net less the
of insurance, number and Distribution OF
risks and amount Of fees provided IN n sec &c.
9 one q Of os this a. act ths
missioner for this state. ,.a,o ~
Sec. 4. The insurance Commissioners OF
this state SHALL, before recording sucr
articles, and without unnecessary delay,
examine the certificates, and if he shall ;5Ia
find that all of the provisions, contained
in section one Q) of this act nave peen peer
e eo%p aTac Masn have BEEN ne
formity with the provisions Of this sct;
he shall endorse thereon the he ma W org
he shall >thereupon record the same in the
records Of his office, and snail issue unuer
his hand and official seal, and denver TO
said corporation his certlflcate TO a the
incorporated under the provisions OF TINS
act and is a body polite and co1porats
with power Of perpetual succession ano
d dg er s date tG subet to the
Such certificate shall be recorded In the
office of the register of deeds OF the co o11o
it's principal office, and said certificate and
records and any certified copy there s2
shall be received in all the courts OF this
created under the laws of this state;
provided. that If any such company snall
not commence to issue policies Witnln n one me
limitation. and upon petition. of the h,
insurance commissioner Of w i1cr
manner as is provided by law for the
service of summons in civil actions: the
judge Of the district court IN ana ,,c dUr
poration designated to be its princlpal o.
fice, may upon ten Q0) days notice to
such corporation of the time and place OF
decree. limit the time within which it
shall settle and close up it's affairs
Sec. 5. Upon the issuance OF such Ger
tifcate such incorporators shall t De ana 10
a11tnOT1Ze0
ance against loss or damage to property
by hail, tornadoes. cyclones. and hu urc,,
canes, in such manner and upon sucn
terms as may be herein provided and au-
thorized by it's bylaws. it shall have
perpetual succession, sue and u, be su ,eo
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
tons.
Sec. 6. The articles Of incorporation
may be amended in any respect not IN
consistent with the provisions Of this act,
Of the corporation, upon vote Of two,
thirds (2-3) Of the members present ana
represented at such meeting.
the Sec b4n The Of asch shall
be vested in a board Of not less than
five % directors, each Of whom shan'
during the term Of his oft1ce, De d;rd mem
may be divided into one, two, three
four or more classes, as may be provo.
ed by it's bylaws, and shall be elected at
the annual meeting, in such manner nLe1; as
tire and their successors be CHOSEN eacn
year, or at such other time or times as
ths by55sYs nay pgeaes1Pee aha Wae
sors are duly elected and qualified; va
canciesS in any class may be filled by
the board for the unexpred TERM n ,,s com
The directors shall choose from among
their own member a president, secretary,
treasurer, and such other officers as the
such bonds with such surety as shall be
required by the bylaws or the directors
Of the corporations. whose respectlve
term of ehes eea BE epe
qualified, and whose duties and compen-
sation shall be such as is provided by ,
the bylaws, provided such by-laWs silall
salary Of any officer, except by major
ity vote of all of the members present
and represented at ro any an2 3ahep tha
such salary shall be in full compensation
to all officers, and neither the officers or
directors shall receive any commissions srds,:
the provisions Of this act shall be a 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 it's meet
ines. bv written notice, or by an imprint
upon the back Of each policy, Wh1c i!r no
assured is hereby notified that by virtue
Of his policy he is a member or the.....;
insurance company of :....: ana
that the annual meetings of said COM
pany are t holden at d a{S h of oci each
YEAR. We :'a at . 'e o'clock ~. M.
' The blanks shall be duly filled in writ
ing or print, and the same snail %
deemed sufficient notice.
Members Of such corporations are en-
titled to vote by proxy at any meeting
Of the company en e DC DAYS PRIOR
to any annual meeting; provided, no
proxy shall be valid after a period of
three months from date; and to TBS be exc 35s
first day Of october Of any year
Such CORPORATIONS shall provide in and
by their bylaws the manner, terms ana
conditions upon s Wn1ch any ~ exneed and
his policy cancelled and terminated
Sec. 8. All companies organized under
the provisions Of TINS o,i act s n The fige
Of delivery thereof a full mutual pre-
MUM in cash, or notes absolutely pay
able, at a rate which shall not De less;
oneShalf per cent per annum Of the face
amount at risk.
Each policy holder, in addition to the
premium pad or TO De TO nav
his proportional part of all losses and
exnenses sustained and incurred while
member Of such company, NOT exceeding;
however. in addition to The the ! premium 1,,1n
equal to such premium, provided such as
sessment, in addition to the premium
Heretofore paid or contracted to be
the sum Of five per cent; provided, he Is
notified Of such assessment within nine
ty (90) days after the expiration Of his
h r01iov than
pne 1) wear. within ninety (9O) days
ofter The expiration of his annual insur-