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

gus to the public Or to 9,,1 it's policy y
district court Of and tor the county
where the principal office Of the company
Is located. or, upon the refusal or neglect
any district se court sn in The state for an in
junction restraining it In whole or in part
from further proceeding with its busi,
suGn 5adge may IN ms isse the
same upon notice and hearing, ana a1ter
q full nearing Of the matter may olssolv Re
or modify such Injunction or MAKE IL
perpetual, and make all orders ana de-
,crees needful In the premises, ana may
appoint agents or receivers to take pos
session of the property and eHects OF the
company, and to settle its affairs subject
to such rules and orders as the court may
from time to time prescribe: service OF
process in such proceedings shall be sum
cient if made upon any officer OF the COM
pany.
Sec. 13. The insurance commissioner IN
addition to the powers and autnorlty
vested in him by the provisions OF sec
authorized and empowered to call Tor
report OF and from any company organ
lied under the provisions of this act.
public and the policy holders REQUIRE and
it shall be the duty of the proper OFFICERS
OF such company to make prompt return
and reply to such call, and fully answer
all Undergraduates regarding its business
methods, financial condition and. all mat
tiers lawfully inquired about in addition
to the annual statement and s suca n per- the
sonal examination and inspection as the
commissioner may require. II any ot'G ;ta
Of the company having charge Of ITS
books and papers, shall lail or neglect &c
company shall carry on its business in a
fraudulent. extravagant and UNSAFE nan
ner,, and so as not to afford to Its policy
age to their, property, or If said company
violates any Of the provisions Of this act
or If the expenses other than the absC-
lutte payment Of losses Of any company
shall exceed in any year, one per cent on
the face amount Of the risks. the lrsur
ance commissioner Is hereby authorized
and empowered to revoke the authority
and license of such company to do bust
ness in this state.
And whenever the insurance comnns-
siorer shall have reason to doupt one
solVency Of any company, or to OeneVe
that any company is doing fraudulent,
extravagant and unsafe business. ne
may, at the EXPENSE Of sucn c2mpa an.
ords, papers and securities, and II upo3
such examtna ton the commissioner shaN
find that such company is not paying It's
legal obligations or Is conducting us ol ,I
provisions Of this act or Of law, he may
Institute proceedings for the winding up
(12) Of this act.
Sec. a. No COMPANY. organized under Ter
tho provision Of this act sinai! insure any
property other than hay grain, corn a, ana
growing or Wills in the bin, crib or
upon thH Parns o. and inc 9th
far bn and and their Contents, and
live stock while on the premises OF me
insured or running at large: Provlaea'
that no company shall in Its nan aepar ar
uent insure more than one hul dred ana
sixty Q6O) acres in any one section loa an0
net to exceed thirty-two hundred (32oo)
acres in any one township
the provisions of this act are authorized
to issue policies of insurance signed by
the president and secretary, contracting
policies ali loss and damage to the prop
erty insured, which they may sustain ,o on
classes Of property named in sectlon
fourteen Q4) of this act, for period not
exceeding five (5) years, and In sum
not exceeding the amount and subject to
the conditions specified in the application
and policy Of insurance.
Sec. 16 Every company organized ana
pursuant to this act, and every company
now engaged in the business of 1nsurlng
against loss by hail, tornadoes, cyclones
and hurricanes. as mutual ms lnsuran ta
shall create guaranty surplus fund for
the better protection of Its policyholders
and for the payment Of it's losses when
cient therefor, and for the purpose of
creating such fund every such company
shall set aside and credit to such fund
all Of the income received IN oe each s year
obligations of such company, until such
fund shall have to it's credit the sum OF
one hundred THOUSAND I'd dollars a1 std and sh t
same manner and from the same fund,
a., sufficient sum to maintain such guar
iantyS sarplus, fund. Provided, that such
Of one hundred thousand dollars.
Such fund may, and If possible SHALL be
invested at interest upon securities and
IN the 9 IN by Thirty
five Q75) Of the General Laws of one
thousand eight hundred ninety-fve ds95)
and amendments thereto
Sec. IT, The secretary or other proper
officer of each. company doing business
under the provisions of this act shall, at
each annual meeting Of the company,
ton, financially and as to it's business
transacted during the preceding year,
and shall also make annually such re-
the time. in the manner upon the blanks
and as fully as he shall require, and
such annual statement shall, in COM
pact and comprehensive form, be pub
lished once in a weekly legal newspaper
having general state circulation in Min
nesota.
The fling and making Of the annual
commissioner shall be condition prece-
dent to the issue by the insurance COM
missioner of an annual license or certif-
cate of authority to continue it's business.
Upon the filing of such report it shall be
the duty Of such commissioner annually
to issue to such company a renewal GER
ness if such report is satisfactory to
him, which certificate shall be issued
promptly and with no unnecessary DELAY.
any may be filed in the office of the reg
principal office of the company is located,
Sec. IS. Foreign insurance companies,
of the same character, provided to be or
pyng wtS 1e the s o sS ga scndons be
admitted to transact business in this
state by its. duly licensed and constituted
agents resident therein, any class Of in
subject to all general laws now or here
after in force relative to the duties. OBJ
legations, prohibitions and penalties of
insurance companies, and all laws of this
state applicable to the transaction of
p2 gee 49, snd N th1 f9re ag9ntS
shall be so admitted and authorized to
do business until
O 1t shall deposit with the insurance
ter, or articles Of Incorporation and Of
it's bylaws, and a statement under oath
of Its financial condition signed by it's
president an and s sseGretary or other proper
soner for the filing of such copy the sum
of thirty dollars, and for the filing of
such statement the sum of twenty dol
lars.
(2) It shall satisfy the insurance COM
missioner that it is fully and legally or
ganized under the laws Of it's own state,
to do the business it proposes to trans
act and that it is conducted on as safe a
basis as companies Of the same class or
gained and doing business in this state.
CD 1t shall, by duly executed instru-
stitute and appoint the commissioner or
his successor its true and lawful attor-
ney in fact, upon whom all lawful pro-
cesses in any action or legal proceeding
Qainst NAV he sarued and fhorair,. eho Il