The Bottineau courant. (Bottineau, Bottineau County, N.D.) 1895-1929, 1917-04-05
PETITION.

PETITION.
. In the Matter of the Reinsurance
of the policies of The PIONEER Life
Insurance Company of North Dakota
by The Lincoln National Life Insur-
nce Company.
Comes now the Pioneer Life Insur-
ance Company Of North Dakota, Pc
titioner, hereinafter designated as the
Pioneer Life, and files with the Insur-
ance Commissioner of North Dakota
this, it's Petition for Approval of the
Contract for Reinsurance of the Pol
icies of The Pioneer Life by The Lin
coin National Life Insurance Com
pany, hereinafter designated as The
Lincoln National Life.
The terms and conditions of said
contract for such proposed reinsur-
ance are as follows:
THIS AGREEMENT, by and be-
tween The Pioneer Life Insurance
Company of North Dakota, a corpora
ton organized and existing under the
laws of the State of North Dakota,
First Party, hereinafter designated
as the Pioneer Life, and The Lincoln
National Life Insurance Company Of
Fort Wayne, Indiana, a corporation
organized and existing under the
laws of the State of Indiana, a
Second Party, hereinafter designated
as The Lincoln National Life, WIT
NESSETH,
WHEREAS, The Pioneer Life des-
Tres to sell, transfer, deliver and as
sign to said The Lincoln National Life
all of it's life insurance business and
all of it's outstanding obligations of
every nature and have all it's policy
contracts reinsured with, and its out
standing obligations Of every nature
now accrued or hereafter to accrue,
assumed by said The Lincoln National
Life.
AND, WHEREAS, said The Lin
coin National Life desires to rein
sure, take over and assume the life
insurance business of said The Pho
neer Life together with all outstand-
ing obligations Of said The Pioneer
NOW, THEREFORE,, in consider
alton of the premises and of the mu-
tual covenants and agreements here
in contained, it is hereby agreed by
and between the parties hereto as fol-
lows:-
/. The Lincoln National Life, up
on the approval of this contract by
the Auditor of the State of Indiana
and by the Commission, established
and acting under the laws OF ~" 1
Dakota for the approval of re- ~
ance contracts upon petition filed with
the Insurance Commissioner of North
Dakota, does hereby under-write, as.
sumo, r~einsure and guarantee all OF
the insurance policies and contracts
Of said The Pioneer Life in force at
the date of such approval, whether
issued at such time or thereafter IS
sued. And The Lincoln National Life
does hereby, upon such approval OF
this contract, assume and agree to
pay all valid, legal outstanding con-
tractual liabilities of said The Pho
neer Life as. Of March 31st, 1917 and
covenants and agr~~s to and with Inc
Pioneer Life and to and with each OF
the holders Of the ,,slicies herein re-
ferred to and to g | with the bene-
fciaries thereof and their legal repres,,
entatives and assigns, to assume and
carry out the several obligations OF
The Pioneer Life contained in the
policies herein referred to-, and cov-
enants and agrees to forthwith Is
sue to each policyholder it's independ..
ent Certificate of Assumption as Oh
March 31st, 1917, to be attached TO
each such policy reinsuring the same
according and subject to the terms
and conditions thereof; provided, how
ever that all obligations and liabiil-
ties hereby assumed by The Lincoln
National Life are assumed subject to
all defenses, counterclaims and offsets
which are or might hereafter become
available to The Pioneer Life.
2. The Pioneer Life does hereby,
upon the approval Of this contract by
said Commission and by the Auditor
of the State Of Indiana, sell, transfer,
assign and convey to The Lincoln
National Life all of it's right, title
and interest as of March 31st, 1917,
in and to all of it's policy contracts
issued on or prior to such approval,
or in force at said time, whether such
policies are issued at such time or
thereafter.
8. The Pioneer Life does hereby,
upon such approval of this contract,
sell, transfer, assign and convey to
The Lincoln National Life as OF
March 31st, 1917, all Of it's assets and
property Of The Pioneer Life, includ-
ing mortgages, notes, bonds, accounts,
cash, agents balances and other evil
dences Of debt or credit, furniture fix
lures, and all property Of every kind
and nature owned or possessed by The
Pioneer Life at such time wherever
situated, excepting q sufficient amount