The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1909-04-30


| making the same, taken before and GER
! titled by any United States minister.
| charge d'affairs, commissioner, consul, or
diplomatic officer Of the United States
appointed to reside in such country, In
| Guiding all deputies or other representa-
lives tiyes Of such officer authorized to perform an
| their duties; but If personal service can
not well be made, the court may order
service of the summons by publication,
which publication shall be made as In
Approved April 81. 1909.
CHAPTER Ass. F. NO. 42s.
AN ACT relating to the collection and ni!
In this state.
Be 1t enacted by the Legislature Of the
State of Minnesota:
Section l. All road taxes, except poll
taxes, may be required to be paid in cash
In any village in this state whenever a
| majority of the voters of such village
voting by ballot upon the question shall
so determine. Such question shall not
De voted upon unless petition signed by
| at least ten voting taxpayers Of such VII
| lage praying for the payment in cash OF
! all road taxes, is filed with the clerk or
recorder Of such village ten days before
! the annual election in such village, In
/ which case the clerk or recorder shall
! specify in the notice of such annual cleo
| ton that such question will be voted
| upon. If such question is decided in the
! affirmative. all taxes thereafter assessed
| for the maintenance and repair Of roads
and bridges in such village shall be paid
In money and disbursed by the village
council or governing board Of such vii
| lage as other village taxes. The village
council or governing board Of such viii
lage may assess all the property of such
/ village not to exceed six mills on the dol
lar on the last assessed valuation there
| OF. and If they so assess, they shall GER
! tify the same to the county auditor for
extension and collection, the same as
I apa nd before faYnC
are collected, such village council or gov
! erning board Of such village may pledge
| the credit of the village by Issuing VII
! lage orders not to exceed the taxes so as
sessed. to the expense Of road and bridge
work,
| Provided, however, that for the year
1909, upon petition as above provided
/ for being filed with the village clerk or
| recorder on or before the last Tuesday
in March of said year, the village council
may cause a special election to be held
| for the purpose of voting upon said Ques-
! ton, by giving the notice required in the
case Of special elections in villages.
Sec. 2. This act shall take effect and
be in force from and after it's passage.
| Approved April 81, 1909.
CHAPTER 436-S. F. NO. 435.
| AN ACT to amend section 2741 Of the Re-
/ vised Laws Of 1905, relating to demand
notes
Be it enacted by the LEGISLATURE Of the
! State of Minnesota:
| Section l. That section 274l of the Re-
vised Laws of 1905 relating to demand
| notes. be, and the same is hereby amend
| ed as follows
! when a promssory note is payable on
| demand. presentment for payment must
be made within five months after the date
! thereof. or the indOrser will be dis
! charged. and If made within said period
! the presentment and demand shall be
| deemed to have been made within rea-
| sonable time. Any act, neglect, or other
lrrfn xrrith ~, ,nI, Eve he
which by the rules Of law and the custom
| of merchants would excuse presentment
| of note payable at a fixed time, shall be
deemed a dishonor of such demand: and
| the several indorsers thereof, upon due
! notice Of it's dishonor, shall be liable In
| the same manner and to the same effect.
and not otherwise, as upon the dishonor
of .promissory note payable at fixed
| time
| Sec. 2. All acts or parts Of acts incon-
sistent herewith, are hereby repealed.
Sec. 3. This act shall take effect and
be in force from and after its passage.
| Approved April %. 1909.
CHAPTER 4s7-S. F. NO. 44e
AN ACT in relation to the establishment
and maintenance of safety funds GUAR
anty surplus and special reserve funds)
by companies transacting fire insurance
| business and fixing the rights of policy
/ uses to which the same may be ap-
Piled
/ Be 1t enacted by the Legislature Of the
State of Minnesota:
| Section /. Any insurance company or
! gained under the laws of this state, au-
| thorized to transact q fire insurance
business, may create the funds herein
mated as the guarantee surplus fund and
| the special reserve fund, and may avail
| itself of the provisions of this section
ter, upon complying with the require
ments thereof
| Sec 2. Any such insurance company,
desiring to create such funds, may do so
| II such action Is authorized by Its stock
holders, upon the adoption of a reso-
luton to that effect by It's board Of d.
rectors at regular meeting Of such
for that purpose, and filing with the in
surance commissioner Of the state a copy
| thereof, declaring the intention Of such
| business under the provisions of this
chapter; and, as soon after the filing OF
| such copy of the resolution as convenient,
the insurance commissioner shall make,
or cause to be made, an examination Of
| such company, and he shall make GER
| tif1cate of the result thereof which shall
| particularly set forth the amount Of sur
| plus funds held by such company at the
| date of such examination. the whole or
| any part Of which, under the provisions
| Of this chapter, may be equally divided
| anty surplus and special reserve funds.
| which certificate shall be recorded in the
| insurance department.
Sec. 3. After the date of filing any
| such resolution with the insurance COM
missioner, such company shall not make
/ or declare or pay in any form any divi-
dend upon it's capital stock. exceeding
| eight per cent per annum thereupon and
six per cent per annum upon the surplus
| funds to be formed hereunder, until after
| its guaranty surplus fund and Its special
| reserve fund shall have together ac-
/ cumulated to an amount equal to its cap
| ital stock; and any part of the surplus
profits Of such company above such an
| nual dividend, may be equally divided
/ between and set apart to constitute the
] said guaranty surplus fund and the said
be held and used as hereinafter provided,
and not otherwise. And any company
doing business under this chapter, which
| shall declare or pay any dividend con-
shall forfeit it's charter and be liable to
be proceeded against by the attorney gen.
eral for its dissolution.
| Sec. 4. Whenever such company shall
it has fulfilled the requirements already
| expressed in this act, and that its guar
| anty surplus fund and its special reserve
| fund. taken together, equal its capital
stock, the commission shall make an ex-
animation Of such company and make a
certificate Of the result thereof, and file
| the same in his office, and if the COM
| missioner shall find that said combined
such company, thereafter such company
may continue. out Of any subsequent
profits of its business, to add to such
| funds; provided, that whenever any adj
dition is made to the special reserve fund
| an equal sum shall be carried to the
| guaranty surplus fund.
/ Sec. 8. Said guaranty surplus shall be
held and be invested by such company in
the same manner as its capital stock and
| invested. and shall be liable and aDDliCa-