St. Paul tidende. [volume] (St. Paul, Minn.) 1902-1928, 1913-05-02
CHAPTER 12o-S. F. No. 418,

AN ACT to provide for the Incorporation
Be 1t enacted by the Legislature Of the State
Of Minnesota:
Section l. Twenty or more persons may
billty insurance association for the purpose
Of insuring themselves and such other per-
sons. firms or corporations as may become
subscribers to the association against liability
for compensation payable under the terms Of
the Worklmen'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 a certificate specifying:
1. The name. the general nature Of its
ing the same. Such name shall distinguish
II from all other corporations, domestic or
5 5tlstsn and i0 shail end to With 10 " Suzlpsss IN "e eols
association or the word 'lncor.
porated.'
.. The period Of it's duration.
{. The name and place of residence Of
the incorporators.
4. In what board its management shall
those composing the board until the first cleo
ton. a majority Of whom shall be residents
s. The highest amount Of Indebtedness or
liability to which the corporation shall at
6. The territory within which the associa-
ton may do business.
1t may also contain any. other lawful pro-
visions defining and regulating the powers
or business Of the corporation, its officers,
directors. trustees and members.
ea shc' such &c: t corpo SsrHIneas eha II be- 9ece suSmitted to to
the Commissioner OF Insurance for his ap-
prevail and. If he approves the same, one copy
State Of this State and one copy with said
Commissioner of Insurance. After such rec
with the register Of deeds Of the county Of
the principal place Of business as specified in
said certificate.
to issue policies until a list Of the subscrib-
ers. with the number OF employees of each.
G tSgn1aIr %asa of fu fnsu Ts1ur '4 nav Teauire as shall a
been filed at the Insurance Department. nor
until the President and Secretary Of the As
that every subscription in the list so filed
is genuine and made with an agreement of
policies subscribed for Within thirty 800 days
of the granting Of a license by the Commits
sioner of Insurance.
provided for in the preceding Section. the
Commissioner Of Insurance shall make such
investigations as he may deem proper. and II
Association to issue policies.
Sec. g.. Corporations may be formed under
Sec. I. Such Association shall have the
Of its officers and the conduct Of its affairs.
and the same to alter and amend. and adopt
a common seal.
Sec. s. The annual meeting for the cleo
ton Of directors shall be held at such time
in the month of January as the bylaws Of
the Ass So as;a 1 may : direct IT. 1 of the th time a aHm
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 or county
S 3Ias: ana the in t Ass ieaai Ss- nai its # f%ri an e desi Sf-
mated by the rules of court OF the proper
county for the publication OF legal notices.
dar year, have paid into the treasury of the
Association. premiums amounting to more than
one-half Of the total premiums received by it
At such annual meeting the subscribers shall
elect, by ballot, from their own number. not
s sfSS ' be- residents nxe ts'e Of this state itts't to Serve We for Mro at
least one year and until their successors are
duly Chosen; provided. however. that such
two, three or four classes, and for the election
thereof. at its annual meetings. in such man
ner that the members of one class only shall
year. Vacancies may be flied ny election
by the Board until the next annual meeting.
Of the Association. each subscriber shall be
entitled to one vote for every one hundred
in premiums into the Treasury Of the Asso-
citation, during the preceding calendar year.
su1s or s1 v %sy s yctH By By m made b Snd dne ehs se cree
tary, and shall show whether the same were
cast in person or by proxy and shall be evil
Gence of all such elections. Not less than
three directors shall constitute a quorum. The
directors shall annually choose. by ballot. a
President. who shall be a member of the
Board; a Secretary: a Treasurer. who may
also be either the President or Secretary; and
such other officers as the bylaws may pro
vide; and they shall. fix the salaries OF the
President and Secretary. as we'll as the sal
aries or compensation Of such other officers
Vacancies in any Office may be filled by the
directors or by the subscribers. as the by
laws shall prescribe.
Sec. >. Policies OF Insurance issued by any
such Association may be made either with or
without the seal thereof, and they shall be
signed by the President, or such other officers
as may be designated by the directors for
that purpose, and attested by the Secretary.
Sec. 1U.~.If at any time the number of sub
'scribers fails below twenty, or the number
OF the subscribers employees within the state
falls below five thousand, no further policies
shall be issued until the total number Of sub
scribers amounts to not less than twenty.
whose employees within the state are not
less than five thousand. :,
Sec. ii. The Board Of Directors shall be
entitled to inspect thae plant, workroom. shop.
farm or premises CT any subscriber. and for
such purpose TO appoint inspectors, who shall
have free access to all such promises during
the regular working hours. and the Board
OF Directors shall likewise from time to time
he entitled to examine by their auditor OF
~ ..-..A ~. bo.1.c ranor5c and nav rolls