St. Paul tidende. [volume] (St. Paul, Minn.) 1902-1928, 1907-05-10

inprisonment for not less than six C)
months nor more than five co years; ),
Sec. 2. Any keeper of any house OF III
unlawful purpose admit to such house
any boy under the age of eighteen years
or any female inmate of any Il house
of Ill fame or a~ssignation who shall co.
habit with any boy under the age OF
eighteen years. shall be guilty of a. fel-
ony, and upon conviction thereof shall be
punished by Imprisonment for not less
seven years.
sistent herewith are hereby repealed.
Approved April 23, 1907.
CHAPTER 321-H. +. NO. 44e.
AN ACT to amend chapter 10 of the Re
vised Laws Of Minnesota, for the year
1905, relating to insurance.
State of Minnesota:
Section l.. That sections 1504, l607.
Revised Laws Of Minnesota for the year
1905. be and the same are hereby amend
ed SO as to read as follows:
the context otherwise reauirss, com
pany'' or insurance company" shall in
c.rde every corporation or association
engaged in insurance as principal. DO
ated in this state, M "foreign" wher
used without limitations. those In any
other state or country. Beneficiary asso-
c%iation." shall mean a corporation, So,
and carried on for the sole benefit of its
members and their families, relatives or
dependents. but not for profit. and in
sure the lives Of it's members only upon
the whole life assessment plan, so called,
and in which organization admission to
membership. by a vote Of the members
or some governing body. thereof, Is a
prerequisite to being entitled to such re-
1iaf or ro1icy ne in c11ra n a and which as.
ISOLATION sells neither endoWments nor
Citations shall mean a. corporation, So
lied and carried on for the sole benefit of
the members and their beneficiaries, but
not for profit, and having a lodge system
and ritualistic form Of work and repre-
assets shall mean that portion of the ex-
cess of the entire assets of an insurance
company over its entire liabilities exclu-
liability, available for the payment Of lts
obligations. including capital stock in
this state. and including as assets de-
ferred premiums on policies written with
and in case of a mutual marine or fire
and marine company, it's subscription
funds and Uranium notes not more than
thirty (So} days past due n unco1-
In case Of a mutual fire insurance CON-
pany there shall be included as assets
premium notes absolutely payable within
policies actually in force. when such
notes are not more than thirty days over
due. Unpaid guaranty fund suhscrip-
tons shall not be included as assets, and
guaranty fund certificates upon which
there is no liability of the company ur-
til all it's other obligations and 1iabili-
ties are paid shall not be included as a
liability.
"Unearned premiums" insurance re-
serve, net value policies, and premium
reserve shall severally refer to the liza
bility Of an insurance company upon its
hereinafter established.
Profits of a mutual insurance COM
pany, shall mean that portion Of it's net
losses n expenses. nor set apart for
any lawful purposes; and commissioner
shall mean insurance commissioner.
ter@ oimHf fhe poli f9r liaSiIity on any co de-
pany. other than life or title insurance,
and the amount such company shall
hold as reserve for reinsurance, the COM
missioner shall take so per cent of the
one year or less from date of policy and
a pro rata amount on policies running
more than one year from date of policy,
except upon inland and marine risks.
which he shall compute by charging so
per cent Of the amount Of premium writ
ten in its policies upon yearly risks and
upon risks covering more than one pass
age not terminated. and the full amount
Of premiums written in policies upon all
other. inland and marine risks not ter
minated. In case OF any fire n marine
company with less thar 100000 capital,
admitted to- transact in this state. fire
business only. the full amount Of pre-
minns written in it's marine and inland
navigation and transportation policies
In case Of a mutual fire insurance COM
liability Hxed by is bylaws and in its
policies as provided by law, to determine
the commissioner shall take twenty-five
20 per cent OF the aggregate premiums
cent of the pro rata amount on policies
cunning more than one year from date
Of p %,hiSi A. 4 policy for a term Of years
nually, shall be considered a policy for
1617-Reinsurance Reports-Penalty-If
rectly or indirectly, effect the reinsur-
ance Of any risk taken by it. or any part
thereof. it shall make a sworn report
thereof to the commissioner. at the time
other time as he may request.
No fire company shall insure or reinsure
in a single risk q larger sum than one
tenth of its net assets.
Every company. effecting any reinsur-
ance In violation of the foregoing pro-
vision; and every agent effecting Or ne
gotiating the same, shall severally be
1625-Taxation-salvage C~orps-Every
domestic and foreign company, except
town and farmers mutual insurance
companies, shall pay to the state treasur-
equal to 2 per cent of the gross" pre-
miums less return premiums "on all d.
rect business received by it. in his state.
or by its agents for it, in cash or other
In the case of every domestic company
such sums shall be in lieu of ali other
taxes. except those upon real property,
f 6 aNeG + Py 1t I'm IN THIS i , state, which shall be
viduals, and in the case of every foreign
ompan such sums shall be in lieu Of all
other taxes, except those upon real and
state. which shall be taxed the same as
like property of individuals, and except
that in addition thereto, every foreign
wherein a salvage corps has been estah-
lished pursuant to law for which such
company or its agents for it are not
Otherwise fth subject to taxation. shall at
duly authorized board Of underwriters
therein a tax equal to 2 per cent of the
gross Z IS, amount ann Of premiums received by
be used by such board for the equipment
and maintenance of such corps.
The provisions Of this section shall
pan1y insuring its members against loss
or cyclone. or loss Of live stock from
disease or accident, which pays as salary
ana compensation to any one officer or
aggregate sum of one thousand dollars
($1 ,OUU).
1627-Premiums-Contingent Liability
Every mutual fire company shall charge
and collect on each policy a premium.
in cash, or in notes absolutely a
or 1t may accept a deposit of cash equal
to one years premium ON the nniio1s :; -