Echo de l'ouest. [volume] (Minneapolis, Minn.) 1883-1929, 1903-05-01

by adopting and signing articles of tncor-
portion, which shall contain:
First-Tho name Of the corporation
which shall not be the same as that pre-
viously assumed by any other corporation
IN n this state sta ian and .n WHEN sha14 contain 'n
Second-The general nature ana the
proposed method and plan Of its business
and the place Of it's principal ot1ce, WIN
the time and place where Shall De neAu 1ls
annua 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 sue cor
pOratiOn.
Fifth-The number, names and places OF
residence of its first board OF directors,
the first officers, and the time ana pace
Of electing their successors:
Sec. 3. Such articles shall be acknoWl-
edged by the persons signing them IN the
edgement of deeds, and together with a
certificate of the president and secretary
under oath, r~eciting the amount OF 1nsuI,
ance subscribed, the number Of risks, m
and the largest number in any one toWn-
ship, and reciting the membership fees
collected, to be not less than the a!lou 10
of insurance, number and d~lstrlputlon "
risks and amount of fees provided IN sec
ton one Cp Of this act, shall De 1lled iui
record in the office Of the insurance COM
missioner for this state. -
Sec, 4. The insurance commissioner u
this state shall, before recording such
articles, and without unnecessary Decay,
examine the certificates, and II ne shal1
find that all of the provisions, contained
in section one CD of this act nave peen
complied with, and If he shall find that
such articles nave been executed in con-
formity with the provisions OF this sct,
he shall e endorse thereon mere The the Same. W and
he shall thereupon record the same In the
records of his Office, and shall issue under
his hand and official seal, and denver 10
effect that such corporation has been duly
incorporated under the provisions or TINS
act and is a body polite and co1porats
with power Of perpetual succession anu
and after the date thereof. subject to the
provisions of this act. 49,
Such certificate shall be recorded In the
Office of the register Of deeds of the couno
it's principal Office, and said certificate and
records and any certified copy Thereon
shall be received in all the courts or tilis
state as prima facle evidence tnal s ond
created under the laws Of this state;
provided. that If any such company snall
not commence to issue policies Wlthln one
year from the date Of such certificate ITS
Corporate power shall expire by its "
limitation, and upon petition of the
insurance commissioner, Of when
a copy shall be ser 4Hd upon upnn
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 artlcies OF adco Or
flee, may upon ten QO days notice to
such corporation Of the time and place OF
hearing, and upon due inyestigation, by
| decree. limit the time within which 1t
shall Settle and close up it's affairs:
Sec. 5. Upon the issuance of such GER
t~ificate, such incorporators shall pc ana
become a corporation. and authorized 10
ance against loss or damage to properly
by hail, ~tornadoes, cyclones, and hurrl-
canes. in such manner and upon such
terms as may be herein provided and au-
thorized by its bylaws, 1t 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
tons.
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 a vote OF two,
| thirds (2-3) Of the members present and
represented at such meeting. .
the business of such CORPORATION shall
be vested in a board Of not less thai
i've NCJ OlIcClO10, CdS1A VI 49, '
during the term of his office, be a mem
Der Of said corporation, such directors
may be divided into one, two, three,
| ed by it's bylaws, and shall be elected at
the annual meeting, in such manner as
that the members Of one, class snail re-
tire and their successors be CHOSEN each
year. or at such other time or times as
the bylaws may prescribe, and VINO
| shall hold their office until their success
sors are duly elected and qualified; va va
cancies In any class may pe Illleo py
pensation to be fixed by the bylaws.
The directors shall choose from among
their own member a president, secretary
bylaws may provide, who shall give
| such bonds with such surety as shall be
required by the bylaws or the directors
Of the corporation, whose respece sNg
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
such salary shall be In full compensation
to all officers, and neither the officers or
| directors shall receive any commissions.
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 pc notified OF
| ings, by written notice, or by an imprint
upon the back of each policy, which no
flee shall be substantially as follows:'The
| assured is hereby notified that by virtue
| of his policy he is a member OF the......
that the annual meetings of said COM
| pany are holde at it's home office in.
YEAR ;;:;:'o aq the! the'c O'Clock :s.. 01 M" eAc"
The blanks shall b. duly filled in writ
| ing or print, and the sam shall be
deemed a sufficient notice:
titled to vote by proxy at any meeting
| of the company, proxies to be returned
! and filed on or before ten QO days, prior
proxy shall be valid after a period Of
three months from date. and to be exc
| cuted and dated not earlier than the
first day of October Of n year: oaa
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
Of delivery thereof a fuli mutual pre- pre-
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 contract, a sum
equal to such premium, provided such as
sessment, in addition to the premium
heretofore paid or contracted to be
paid, shall not in n 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
one 1D year, within ninety 600 lays
after the expiration of his annual insur-
49, Tho roo;1inr re c,1oh