Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1913-05-09
CHAPTER 122-s. F. No. 4ls.

AN ACT to provide for the Incorporation
and Regulation Of Employers Mutual LA
bility Insurance Associations.
Be 1t enacted by the Legislature Of the State
Of Minnesota: '"
Section !. Twenty or more persons may
bility insurance association for the purpose
OF 1nsul1ng themselves and such other per-
sons firms % or
for compensation payable under the terms Of
the Workmen's Compensation law and for the
by the sickness, bodily injury or death BY
accident Of any person employed by or for
whose injury or death the insured Is re-
Sec. 2. They shall subscribe and acknowl-
edge q certificate specifying:
e on
ing the same. Such name shall distinguish
If from all other: corporations. domestic or
state sA and shall end with '.company. .eor
poration:::', ':association or the word 'incor
2. The period Of its duration. =.
:, 8. The name and place Of residence OF
T. In what board its management shall
be vested, and the names and addresses Of
those composing the board until the first cleo
ton a ma majority OF whom shall be residents
:, $: The highest amount Of ,ndeDtsdne,. Or
liability to which the corporation shall at
g. The territory within which the associa-
It may also contain any other lawful pro-
or 9 business Of the CORPORATION. its officers.
Sec. s. The certificate Of Incorporation Of
each such corporation shall be submitted to
the - ne Of ran nor ms
state Of this State and one copy with said
ord such certificate shall be filed for record
with the register Of deeds Of the county Of
said certificate ,
Sec: 4. Such Association shall not begin
to issue policies until list Of the sgbsc crib
together with such other information as the
Commissioning Of Insuranme may require. shall
been filed at the Insurance Department., nor
until the President and Secretary Of the As
| ISOLATION shall have been certified under oath
Is aA genuine s and Si made with an agreement Of
all the subscribers that they will take the
Of the granting Of license by the. Commits
| sioner Of Insurance
Sec: 5. Upon the nling Of the certificate
%Hasa @ on ms snail make saes
Investigations as he may deem proper, ana II
Association AS ss to issue l policies its '' = '
this section. for not to exceed thirty years
Sec Z. such Association shall have the
power to make bylaws for the government
and the same to alter and amend. and adopt
a common seal.
ten Of directors snail be he1d at such time
| in the month Of January as the bylaws Of
the Association may direct OF the time and
days previous written or printed notice shall
be given to the subscribers. or such notice
three times in at least two daily or weekly
newspapers, published in the city county
as ana the s ssa f
mated by the rules Of court Of the proper
county for the publication Of legal notices.
dino o1nv1-
dar year, have paid into the treasury Of the
Association. premiums amounting to more than
during that year, shall constitute quorum.
At such annual meeting the subscribers shall
elect by ballot from their own r,1 number No not
shall be residents OF this state. to serve for at
least one year and until their successors are
Association may provide in its bylaws for
two, three or four classes and for the election
ne s1i that the members Of one class only shall
retire and their successors be chosen each
n nf tSe be s y
Of the Association. each subscriber shall be
dollars dollars or r. any fraction thereof paid by him
| in premiums into the Treasury Of the Assoc
ns nd
ord Of ali votes shall be made by the secre-
tary. and shall show whether the e. same e. We're ,
dence Of ali such elections. Not less than
three directors shall constitute Q quorum. The
! directors shall annually choose. by ballot. a
President. who shall be g member Of the
Board; a Secretary: q Treasurer. who may
also be either the President or Secretary: and
such other officers as the by laws may pro-
vide; and they shall fix the salaries Of the
President and Secretary, as well IS the sal
and snd agents as St the 4 { laws ]! prescribe
Vacancies In any once may. b nlied ~ the
directors or by the 3supecrlperss - the Dy1
laws shall prescribe. ~. 81 81 s, S
.,,cS n ssociation may be made either with or
without the seal Thereof and they sshal! be
as as may be designated by the directors Tor
1 tha 4 Tpurpose,--an attested by the Secretary.
rs Sec. 10. II at any time the number Of SUB
scribers falls below twenty. 1.-THE e number m,
Tails below hive thousand, no further policies
shall be issued until the total number Of sub
Il ecribers amounts to not less than twenty.
whose employees within the state are not
less than Ave thousand. sS 5 :. .
Sec. III The Board q Directors shall he
entitled TO inspect thas plant. workroom. shop.
i Farm nor premises OF any subscriber. and for
such purpose 70 appoint who shsl.
4 fine regular. working hours, and II the Board