The Virginia enterprise. [volume] (Virginia, St. Louis County, Minn.) 1893-19??, 1913-05-02
CHAPTER 1925. F.. No. 418.

AN ACT to provide for the Incorporation
and Regulation Of EMPLOYERS Mutual LA
bility Insurance AssOcia lions.
Be 1t enacted by the Legislature Of the State
Of Minnesota:
section 1: Twenty or more persons may
bllty insurance association for the purpose
OF insuring themselves and such other per-
sons. firms or corporations as may become
for compensation payable under the terms Of
the Work'nen's Compensation law and for the
he sckness ody nS or or death S
| accident of any person employed by or for
whose s,n,d injury or death the insured is re-
Sec. =. They shall subscribe and acknowl-
edge a certificate specifying:
l.. The name. the general nature OF its
Iif from all other corporations, domestic or
state, and shall end with company" cor
poration:,' association or the word "incor.
pora ted
.. The period of its duration.
-, 8. The name and place of residence of
4. In what board Its management shall
be vested and the names and addresses Of
those composing the board until the first cleo
ton: a majority of whom shall be residents
3. The highest amount of Indebtedness or
liability to which the corporation shall at
s. The territory within which the associa-
ton may do business.
II lluy also contain any OIner lawful pro-
or business of the corporation. its officers.
directors. trustees and members.
Sec. B. The certificate Of Incorporation Of
each such corporation shall be submitted to
the Commissioner of Insurance for his ap-
prevail and. If he approves the same. one copy
thereof shall be filed with the Secretary Of
State of this State and copy with said
ss of be- f ed f such
with the register Of deeds of the county Of
the principal place Of business as specified in
Sec. 4. Such Association shall not begin
to issue policies until list Of the subscrib-
wA w sucn OF Of as
Commissioner Of lnsuranne 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
that every subscription in the list so filed
is genuine and made with agreement Of
all the subscribers that they will take the
policies subscribed for Within thirty 800 days
of the granting of license by the Commits
Sec: 5. Upon the filing Of the certificate
provided for In the preceding, Section. the
Investigations as he may deem proper. and II
his findings warrant it grant license to the
Association to issue policies
Sec. t. Corporations may be formed under
this section for not to exceed thirty years
in the first instance.
power to make bylaws for the government
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
tion Of directors shall be held at such time
pace Of said meeting at least thirty go!
be given to the subscribers, or such notice
may be given by publication not less than
three times In ina, at least two daily or weekly
a ns's and ' in the a K amy deze
county for the publication Of legal notices
Subscribers who. during the preceding calen-
dar year. have paid into the treasury of the
one. half Of the total premiums received by it
during that year. shall constitute quorum.
At such annual meeting the subscribers shall
elect. by ballot, from their own number. not
less than five directors. majority of whom
least one year and until their successors are
| duly chosen; provided, however. that such
Association may provide in Its bylaws for
| thereof. at its annual meetings. in such man
ner that the members of one class only shall
retire and their successors be chosen each
year. Vacancies may be filed by election
by the Board until the next annual meeting.
In the choice, of directors and in all meetings
entitled to one vote for every one hundred
dollars or any fraction thereof paid by him
citation during the preceding calendar, year.
| Subscribers may vote by proxy. and the rec
tary, and shall show whether the same were
cast In person or by proxy and shall be evil
denCe OF all Sucn eleCIlOnS. MOI less tnan
three directors shall constitute quorum. The
directors shall annually choose. by ballot. a
President, who shall be a member OF the
Board: Secretary: a. Treasurer. who may
also be either the President or Secretary; and
such other officers as the bylaws may pro
President and Secretary. as we'll as the sal
aries or compensation Of such other officers
and agents as the bylaws prescribe.
vacancies in any office may be filled by the
directors or by the subscribers. as the by
| laws shall prescribe.
| Sec 8. 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 10. If at any time the number of sub
4 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 see .ha H. "' The Board of directors shall be
emitted to inspect thae plant. ,workroo:l shop.
farm, or premises CT any. subscriber. and for
such purpose to appoint inspectors. who shall
have free access to all such premises during
the regular working hours. and the Board
| NJ directors shall likewise from time to time