Echo de l'ouest. [volume] (Minneapolis, Minn.) 1883-1929, 1909-04-30

OF each fiscal year the president and
secrerary shall file with the commission.
er of insurance a verified statement or OF
company, and which statement shall c.or"
tain such data and information in refer
ence to the business Of the preceding
fiscal year as shall be required by the
commissioner of insurance.
! The commissioner Of insurance may at
other times require any further state
ment he may deem necessary to be made
relating to the business Of the company.
Sec. %. There shall be paid to the
commissioner of insurance and by him
Minnesota the following fees:
l. For filing certificate of 1ncorpora-
?. For filing annual statement $1oo.
Sec. %. Any township mutual fire in
surance company heretofore ganize
act all Of the rights conferred thereby
that are within the powers and privileges
of its certificate or articles of incorpora-
ton, Or it may be re-incorporated here
under.
But no such company already organ
lied shall be required to re.lnGorperate
hereunder in order to avail itself OF the
Every township mutual fire insurance
company now doing business in this state
shall have the right to continue trans
acting such business until the first day
OF March succeeding the passage Of this
act, and if the commissioner of insur-
ance is satisfied that the p IS
transaeting it's business aSde IN ia a%c Sorf nee
Of %'t each his suc Gee hg s1 Maf:ch h. issue a license
to each company authorizing it to trans
act business until the first day OF March
following the date of such license: .,
Sec. "a. Except as herein provided all
township mutual fire insurance ompan1es
heretofore or hereafter ~o~~anized IN this
state shall be governed by this act and
shall be exempt from all provisions Of
the insurance laws of. this state. not only
in governmental relations with the state
but for every other purpose snn and ~ no s, la%
! company unless it shall be expressly des-
! ignated in such law that it Is applicable
to township mutual fire insurance com
panies.
Sec. %. That two or more township
mutual fire insurance companies of the
same county, which have been or may
hereafter be authorized to transact the n,
upon farm property, within, the same
townships, or where one Of said, com
panies IS authorized to and actually has
transacted such insurance business In
every town In which such other company
is authorized to transact such business,
may consolidate as a corporation IN the
manner provided in this act.
To effect such consolidation it shall be
necessary:
First-That the board of directors or
managing body Of each of said corporat
such consolidation is advisable and con-
tanning the proposed name OF the cor
poration, as consolidated. ITS Pr ca n g az
office, and the names Of Its first board OF
| directors and officers.
second-That q special meeting OF the
POLICY ho1deF rs Of be,G each h of SAD Of foT WPbieh
meeting shall be mailed to each Of the
policy holders thereof at least thirty 800
days prior to the holding thereof, and
which notice shall .embody the resolu-
+;o- o1~rto1 hy sold hoard Of NlraHt0rS.
as provided for in subdivision one ~.
Third-That a majority of the policy
holders Of each Of said corporations pres
ing of shall rdpfG BY rreaso IL approve and
ratify the action Of said directors, as pre-
vided for In subdivision one % hereof;
resolution be filed with the commission
er of insurance Of this state and ap-
proved Of by him.
Fifth-Complete copies Of said pro.
and secretary Of said respective corpora
lions. shall be filed with the town clerk
in each Of the towns in which SAID COM
paw Wbe pro f%1I coolies % .ra Of said 0 proceedings
have been filed with the commissioners Of
insurance, which copies shall be certified
by the president and secretary OF sag
respective corporations and duly .verlled
by said officers and approved of by him.
the consolidation Of said corporations
shall be deemed to be complete. and the
s6 III by d Fs e1n to have fully assumed
all Of the obligations. liabilities and
risks and to b. the. owners Of all the as
sets t. Of a,,t the c s9nPaiaaffi so IS eo%n made Under
any new name, the filing of said pro-
ceedings and the approval of same by the
commissioner Of insurance shall be sut1-
pany a corporation, with all the pow
ers, privileges, and subject to all the
Limitations Of a township mutual hre IN
,x-I1~ +hn nc ~ fh1G
state.
Sec. 26. The commissioner Of insur-
ance whenever requested by five or more
members shall make an sXam nnG43e1 on OF
! surance company doing business Wltnln
this state, and any such company SO ex.
amined shall pay the actual expenses OF
missioner IF 1rsSl anc5''' IS satisfied that
any such company has failed to com
ply VT any n ,+ PROVISIONS o0Mera OF OF il sn1 not ia carr VI
ing out it's contracts in good faith; or IS
transacting business fraudulently,, or IS
in such condition as to render further
IT'S policy holders, he may present the
facts relating thereto TO- the attorney
general, who shall, If he deems the CIT
cumstances warrant, commence en- &C
petent Jurisdiction and sue court shall
thereupon notify the officers Of such com,
Danv or g. nearing, dUu, uuloSS LhA
then appear that some special and good
reason exists why such company snould
not be closed, said. company shall be
enjoined from carrying on any further
pointed receiver Of such company and
shall proceed at once to take possession
Of the books, papers, moneys. ana otnsr
with. under the direction of the court,
proceed to close the affairs of the COM
pany and to distribute its funds to those
er1 Sec. ~. la Any person, officer or mem
Der who shall knowingly or Vdllfully
make any false or ~fraudulently state
ment or representation in reference to
any application TOR n me frad51npt s nnder
ment as to the transaction or condition
Of the ompa Of which he is a member
or officer and Sh hnon be songg Hiittf{S 9 thereof e m sRaii
be punished by a fine Of not more than
S1Oo.OO, or by imprisonment in thec county
fail for not more than ninety 900 days,
in the discretion of the court: ~
employee thereof, who shall neglect or
refuse to comply with, or who shall vio-
late any of the provisions Of this act;
UPON conviction thereof shall be punished
by a fne of not more than $4,000: or by
immprisonment in the county jail for not
more than ninety 900 day in the dis
Sec. rs. All acts and parts Of acts in
consistent with this act are hereby re-
pe Sec. %. This act shall take effect and
no in force from and after it's passage.
Approved April %. 1909.
CHAPTER 412-s. F. NO. s21.
AN ACT to amend section 90, chapter
s44, ,t Of the se fo e 1eo haw as al am enc Se1 by
chapter 1850 OF the General Laws Of
1907, relating to mink, muskrat and