St. Paul tidende. [volume] (St. Paul, Minn.) 1902-1928, 1909-05-07

during tie previous fiscal Year. n On
or before February LIST, following the end
secretary shall file with the commission.
er Of insurance a verified statement Of
the entire business and condition Of the
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.
commissioner of insurance and by him
accounted for and paid to the State Of
Minnesota the following fees:
s., For eertihcate Of authority. an
Sec. %. Any township mutual fire in
surance company heretofore organized
may exercise after the passage Of this
that are within the powers and privileges
Of Its certificate or articles of incorpora-
ton. or it may be re-fncorporated here
But no such company already organ
hereunder in order to avail itself OF the
privileges of this act.
Every township mutual fire insurance
company now doing business In this state
shall nave the right to continue trans
acting such business until the first day
act, and If the commissioner Of insur-
ance Is satisfied that the company Is
transacting it's business in accordance
OF EACH ms suo ass IT, sSMa aIic6 on issue sue a a lioe @ss
to each company authorizing it to trans
act business until the first day Of March
following the date Of such license ~,
township mutual fire insurance companies
heretofore or hereafter --~anized In this
state shall be governed by this act and
s fha DE- exempt p IRON OF th al p 9fe not on o.
in governmental relations with the state,
but for every other purpose, and no law
hereafter passed shall apply to such
|~ignated in such law that it is applicable
to township mutual fire insurance COM
panies.
Sec. Is. That two or more township
same county. which have been or may
hereafter be authorized to transact. the
business of fire Insurance. 3aItsn exclusively exc ayeg
townships, or where one OF said, COM
panies IS authorized to and actually has
transacted such insurance business i1
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
F1rst-That the board Of directors or
managing body of each of said corpora
t t55e1 pgonsoi Z Taso1ut is ad to tae ef and e q n
tanning the proposed name of the COR
poration, as consolidated. its principal
Office, and the names Of Its first board OF
second-That a special meeting Of the
htieodnnssS shall laliffetbs be hel ga a notice CO. Of Which
policy holders thereof at least thirty 800
days. prior to the holding thereof, and
which notice shall embody the resolu-
as provided for in subdivision one a.:
Third-That a majority of the policy
Aolders Of each of said corporations pres
ing ngs ot shall udpfG BY reasodiu1tio m approve and
7Tiidiseadg f for 1 h Subdivision isfo one Is Hereof;
resolutions be filed with the commission
proved Of by him.
Fifth-colnplste copies Of said Pro-
and secretary Of said respective corpora
tons, shall be filed with the town clerk
in each of the towns in which sald COM
have been filed with the commissioners Of
insurance, which copies shall be certified
rSsn the president adfnara+ and secretary and d1,ly OF Teri naad
by said officers and approved of by him.
the consolidation Of said corporations
shall be deemed to be complete. and the
shall be deemed to have fully assumed
risks and to be the owners of all the as
sets sets Of a,t the c e0mpiaiaaegi so e 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 suf11-
pany a corporation, with all the pow
ers, privileges, and subject to. all the
limitations Of a township mutual fire in
state.
Sec. 26 The commissioner of insur-
ance whenever requested by five or, more
members shall make an examination of
the affairs of any township, mutual in
! surance company doing business within
this state. and any, such company SO ex.
the person making such examination.
mi MniSnsse Of IrsSl IS satisfied that
any an; 1s s4Gh ao company RproT;s,h has If fa'} tGis to iaw eom or
IS exceeding its powers, or IS not carry
ing out it's contracts in good faith; or Is
transacting business fraudulently, or IS
R Ets pe{Icyg ho adsaso0 Re Ma NJ 3nS pre as1t!' the he
facts relating thereto t to de the a 4ha Q ciry
cumstances warrant. commence an &C
ton in quo warranto In a court Of com,
petent Jurisdiction and such court shall
thereupon notify. the officers OF such CON-
pany Of a hearing. and, unless it shall
then appear that some special and good
reason exists why such shoul
not be closed. said company shall be
enjoined from carrying on any further
business, and some person shall be ap-
| pointed receiver Of such p and
| shall proceed at once to take possession
of the books, papers, moneys, and other
| assets of the company. and shall forth
with, under the direction of the court,
proceed to close the affairs Of the com
pany and to distribute its funds to those
Sec. 81. Any person, officer Or men,
Der who shall knowingly or willfully
make any false or f%raudulently state
any application for membership, under
this act, or any false or fraudulent state
ment as to the transaction or condition
Of II the nf7 %ornp shaYl q be "n guiltv w of If a Ai misder
meanor, and upon conviction thereof shall
be punished by a fine of not more than
5000 %, or ri by limp impri tSsn nj5e IN t {So, c9 AMY,
In the discretion of the court.
Any officer of any such company, or
employee thereof. who shall neglect or
late eteSs any Of the provisions Of this act.
shall be guilty Of a misdemeanor and
upon conviction thereof shall be punished
by a fine of not more than $1,000: or by
Imprisonment in the county jail for not
more than ninety 900 days in the dis
erection Of the court.
Sec. 49,. All acts and parts OF acts In
consistent with this act are hereby re-
Sec. 20. This act shall take effect and
be in force from and after its passage.
Approved April %. 1909.
CHAPTER 412-s. F.. NO. 321.
AN ACT to amend section 3S, chapter
344, Of the General avs Of the State
Of Minnesota for 1905. as amended by