The Appeal. [volume] (Saint Paul, Minn. ;) 1889-19??, 1905-04-29

| insurance of stock company which has
been issuing participating policies. and
! assets of the retiring company, except
! an amount not In excess Of the face value
Of it's capital stock shall be turned over
| the assuming or reinsuring company.
| Any officer, director, trustee agent or SAL
! aried employe Of either company becom-
who shall give or take any commission.
! consideration, or benefit in connection
with or by reason of, such reinsurance.
such commission, consideration or benefit
| be paid from the funds Of either COM
or persons shall be deemed guilty Of the
crime of bribery.
Sec 20 That section %. chapter 17s.
Laws of 1901, be and the same is hereby
amended to read as follows:
Sec. %. Existing Companies May Re-
Incorporate or Reorganize HEREUNDER
poration. association or society organized
under the laws of this state for the pur-
pose of doing the business of life insur-
a 1c upon any plan and now + transacting
| Incorporated or reorganized, either as
stock or mutual company. under the pro-
visions of this act, either under its then
existing name or under any other name
approved by the insurance commissioner:
TO so incorporate or reorganize 1t shall
1. That a resolution be passed by the
board Of directors. managers or trustees
authorizing and directing such retnsur-
ance or .re1ncOrporation.
2, That such resolution be adopted by
a three-fourths vote of the members or
majority of the stock represented and
Special meeting called for that purpose,
Whereof written or printed notice shall
d aave been duly given not less than sixty
3. That a declaration be signed and ac-
knoWledged by two officers and by a
majority of the remaining directors,
a. The passage and adoption Of such
resolution so IGN as +S above prescribed.
sured to comply with the provisions Of
(c) Al matters required to be set forth
IN articles Of III nc9rPoration as provided by
(d) That all it's members are and have
been paying in cash stated premiums at
Hdn sqo of to those by the pro
(e) That It's cash assets shall be at
ing the value Of it's policies or certificates
according to the standard adopted by this
act
of sections ?, 3 and 4 Of this act must
be complied with. When such a resolu-
t1on shall have been so passed and adopt
now existing under the laws Of the State
shall have been made and filed with the
AllS VI duCC COMMISSIONER, IOS0LQGr WIN
amended articles. Of Incorporation and the
required deposit Of securities, he shall
issue a certificate Of reincorporation or re-
and attach thereto copies Of all docu-
the company to do the business Of life
forth in such papers; and such corpora
ton, association or society shall there
upon be deemed to be and shall be
of this act and shall have all the corpo-
rate rights and privileges Of and be SUBJ
ject to like duties and liabilities as a
Sec. p. That section 20. chapter 17s,
amend ed 1901 ta 1ea eg ana the same is hereby
Section, %. Effect Of Reincorporation-
Such reincorporation or reorganization
shall not affect or change the corporate
or liabilities ali Of which shall after
such reincorporation or reorganization re-
organized, as they would If there had
en no F%aa hatb or 9
shall be held to In any way validate or
invalidate any lien heretofore lawfully
imposed under the laws Of this state.
Sec. 70. That section 81, chapter 178.
Laws of 1901, be and the same Is hereby
amended to read as follows:
No life insurance company organized and
this act shaG consolidate With any othe1
Sdea IN ssoeR IS S Of his as
Sec. %. That section 80, chapter 17a,
Laws of 1901, be and the same Is hereby
Section g. Foreign Companies Nothing
In this act shall be construed as affecting
life insurance companies organized under
and companies organized or doing busi-
ness under the provisions of this act
shall be subject only to its provisions:
insurance company possessing assets in
excess Of one hundred thousand dollars
invested in accordance with the provi-
shall have deposited with the Insurance
commissioner Of this state or with the
proper officer Of some other state author
vested as aforesaid to the extent, amount
and value required to be deposited with
the insurance commissioner by 90
deposit the certificate OF such proper off,
Ger shall be evidence and which shall have
deposited Wth the IN 9
poration or charter and statement OF
it's financial condition and business in
such form and detail as he may require,
secretary, may by paying the fees ana
charges herein designated and by filing
such documents and statements as are are
under the provisions hereof, and by filing
a power Of Attorney or certificate authorize
ing the insurance commissioner to &C.
cent service of process issued by any OF
the courts Of this state for and in behalf
of said company so long as a policy is
sued by said company is IN force IN SAID
ness of life insurance as II Incorporated
under the provisions hereof:
Before granting certificate OF author
ity to an insurance company to issue pol
tcies or make contracts of insurance in
the State Of Minnesota, the insurance
commissioner shall be satisfied by such
examination and evidence that he sees
At to make and require, that, such COM
pany is otherwise qualified under the
laws Of this state to transact business
therein.
Sec "a. That section 49,, chapter, 17s.
Laws of 1901, be and the same Is here
by amended to read as follows:-
Section SO. Fees to Be Charged and Col
lected by the Insurance Commissioner
For the Use and Benefit Of the State
From domestic life insurance companies
organized under this act, the insurance
commissioner shall charge and collect for
the use and benefit Of the state. the
following fees:
For filing articles of incorporation, thir-
ty dollars; for issuing a certificate of au-
thority to do business, one dollar; for
filing each annual statement, twenty dol
lars; for each copy Of any document or
eens fot on ahd md one doar For
ing the same. From any foreign Lie
insurance company seeking admission to
state, the Insurance commissioner shall
charge and collect the following fees:
| For filing articles Of Incorporation, thirty
fHr nf For
dollars; for filing each annual statement
after admission, twenty dollars: for is
suing certificate of authority and each
annual renewal thereof, one dollar; for
each agent Of such company licensed to
transact business in this state, one dollar;
for each copy Of any document on Ale