New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1905-05-24

1IIIs La IL e u S, ESSION ]
owned by such Dealers may issue policies
when not less than five hundred thou
sand 5o0,00O) dollars of insurance, in
not less than two hundred goo separate
risks upon such property In this state,
has been subscribed for and entered upon
its books and the premiums thereon for
one year paid in cash, which premiums
shall aggregate not less than FIVE thou
sand dollars (S5,OGO) in cash. The name
of every such company shall include the
words Mutual Retail Hardware Fire In
policy except as above specified.
3. Those organized to insure dwelling
houses, their contents, barns, live stock
and vehicles, exclusively, may issue poll
fifty thousand (25O,OOO) dollars of insur-
ance, in not less than two hundred GOO
separate risks upon such property located
within this state, has been subscribed for
and entered upon their books and the pre-
miums thereon for one year paid in cash,
which premiums shall aggregate not less
than two thousand five hundred dollars
(S2,500) in cash. The name of every such
company shall include the words Mutual
Dwelling House Fire Insurance Compa-
n.y., and it shall issue no policy except
upon the class of risks aforesaid.
4. Those organized to insure printing
material machinery and stock in trade of
newspaper publishers and printers, the
buildings containing the same, and the
dwelling house and it's contents, barns,
live stock and vehicles, when such build
ings and contents are owned and occupied
by the owner of such printing material,
machinery and stock in trade, may issue
policies when not less than two hundred
| thousand (20O.OO0) dollars Of insurance,
in not less than two hundred 600 sep
arate risks, when such property located
in this state has been subscribed for and
entered
the premiums thereon for one year paid
in cash, which premiums shall aggregate
In cash. The name of every such COM
pany shall include the words Mutual
Publishers Fire Insurance Company and
shall issue no policy except upon the class
of risks aforesaid.
5. Those organized to insure grain ele-
vators. warehouses and cribs, machinery,
grain, sacks and tools appurtenant to or
contained in such elevators, warehouses
and cribs and dwelling house and con-
tents barns, live stock and vehicles, when
such buildings and contents are owned
and occupied by the owner of such grain
elevator, may issue such policies when
not less than one hundred thousand dOO,-
O0O dollars of insurance, in not less than
fifty (50) separate risks upon such prop
erty In this state, has been subscribed
for and entered upon the books of such
companies and the premiums thereon for
one year paid in cash. which premiums
shall aggregate not less than one thou
such company shall include the words
Mutual Grain Dealers Fire Insurance
| Company" and shall issue no policy ex-
cept upon the class Of risks aforesaid.
Sec. 2. This act shall take effect and
be in force from and after its passage.
Approved April, T. 1905.
CHAPTER 18Th. F. NO. 100.
| AN ACT to amend chapter one hundred
and seventy-fve Q75) of the General
Laws Of Minnesota, for the year 1895,
entitled An act to revise and codify
! the insurance laws of the state.'
Be it enacted by the Legislature of the
| State Of Minnesota:
| Section 1. That section twenty mine (29)
| Of chapter one hundred and seventy-five
J for the year 1895, entitled can act to re-
wise and codify the insurance laws of
| the State of Minnesota, as amended by
| chapter two hundred and th1rty-three
| (233) Of the General Laws of 1899, is here
| by amended so as, to read as follows:
SECTION 80 No corporation so formed
shall transact any other business than
| that specified in it's charter and articles
| of association. Companies who insure
I plate glass may organize with capital
OF not less esI s. than one hundred thousand
insuring marine inland risks upon the
/ stock plan shall have a capital Of not
less than two hundred thousand dollars
| s2OO,OOO?. Companies so formed for the
transaction of fire insurance on the stock
plan, Of fidelity insurance or &C
cident insurance Or steam boiler
Insurance shall, have a capital of not
(S10o,0oo). Provided, however, that a
company organized solely to insure
against loss by fire of property equipped
with automatic sprinklers may commence
| than one hundred thousand dollars (S1OO,
| 0Oo) Of which not less than twenty-fiv
thousand dollars (S25,0O0) shall have been
paid in: Provided, however, that the full
1 "a a ct C1JhC i1n1 boil
be fully paid in within two years from
| the time of the organization. Companies
to insure lives on the stock plan shall
dred thousand dollars {s1oo ooo5, and and COM COM
| panies to insure bicycles against loss from
| theft shall have capital Of not less than
twenty-five thousand dollars (S25,0OO)
Sec. 2. This act shall take effect and
be IN force from and after it's passage.
Approved April 7, 1905.
| CHAPTER 18Th. F. NO. 266.
| AN ACT to divest the state board Of con-
I, troll Of jurisdiction and authority over
the state university and the state nor
NAL schools of this state, and to provide
versity by the board of regents and the
state normal schools by the normal
| board
Be it enacted by the Legislature of the
State of Minnesota:
| Section /. Upon and after Aug. first
Qst), 1903, the board of control Of this
state snail be and is hereby Invested Of all
| authority, jurisdiction and control over
| the state university and the state normal
schools Of the State of Minnesota, except
as hereinafter stated.
| The state university on and after said
! date shall be under the management iu-
risdiction and control Of the board of
| regents of the state university and the
| state normal schools on and after said
| date, shall be under the management
! jurisdiction and control Of the state nor
NAL school board; and the said board
of regents and said normal school board
shall, on and after said date. have and
possess all Of the powers, jurisdiction and
| authority. and shall perform, subject to
| the restrictions herein contained all of
| the duties by them possessed and per-
! formed on and prior to April first dst).
nineteen hundred and one Q9O1), except
| as hereinafter stated.
| SEQ 2 Upon the date Of assumption by
! the board of regents of the said man
| agement and control of the said univer-
| sity, the president of the said board of
| regents by and with the consent and ap-
prevail of the members of said board,
| shall appoint a purchasing agent, whose
duties shall be as herein provided for,
! and whose compensation shall be fixed
| by the said board of regents and paid
| out of the funds provided for the main
! tenance of said university. The said pur-
chasing agent shall attend to the pur-
chasing OF all necessary SuDpleS for the