reglab/housing_qa huggingface dataset:
MN Stat § 66A.311 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 66A — Mutual Companies|Section 66A.311 — Exemption; Fire, Hail, And Tornado Associations Maintained By Members Of One Religious Denomination.

66A.311 EXEMPTION; FIRE, HAIL, AND TORNADO ASSOCIATIONS MAINTAINED BY MEMBERS OF ONE RELIGIOUS DENOMINATION. The members of any one church, or of any one religious denomination, may maintain for the exclusive benefit of the members thereof an unincorporated association for the mutual insurance of the property of the members against loss or damage by fire, lightning, hail, or tornado, or all of them. The association shall furnish no insurance except upon the property of an actual member of the church or denomination. It may conduct its business upon the plan and method adopted by it and shall not be required to be licensed by or report to the commissioner. History:  1967 c 395 art 7 s 20; 2005 c 69 art 2 s 18
MN Stat § 66A.32 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 66A — Mutual Companies|Section 66A.32 — Prerequisites Of Life Companies.

66A.32 PREREQUISITES OF LIFE COMPANIES. No mutual life company shall be qualified to issue any policy until applications for at least $200,000 of insurance, upon lives of at least 200 separate residents, have been actually and in good faith made, accepted, and entered upon its books and at least one full annual premium thereunder, based upon the authorized table of mortality, received in cash or in absolutely payable and collectible notes. A duplicate receipt for each premium, conditioned for the return thereof unless the policy be issued within one year thereafter, shall be issued, and one copy delivered to the applicant and the other filed with the commissioner, together with the certificate of a solvent authorized bank in the state, of the deposit therein of such cash and notes, aggregating the amount aforesaid, specifying the maker, payee, date, maturity, and amount of each. Such cash and notes shall be held by it not longer than one year, and at or before the expiration thereof to be by it paid or delivered, upon the written order of the commissioner, to such company or applicants, respectively. History:  1967 c 395 art 1 s 7; 1969 c 7 s 7-13; 1969 c 598 s 1; 1969 c 708 s 63; 1973 c 634 s 2-4; 1976 c 213 s 1-4; 1978 c 465 s 1,2; 1978 c 674 s 60; 1980 c 516 s 2; 1983 c 216 art 1 s 15; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1986 c 313 s 2; 1986 c 444; 1991 c 325 art 10 s 4; art 14 s 1; 1992 c 564 art 1 s 15,16,54; 1995 c 214 s 3; 1996 c 446 art 2 s 1,2; 2005 c 69 art 2 s 1-6, 18
MN Stat § 66A.33 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 66A — Mutual Companies|Section 66A.33 — Temporary Capital Stock Of Mutual Life Companies.

66A.33 TEMPORARY CAPITAL STOCK OF MUTUAL LIFE COMPANIES. A new mutual life insurance company which has complied with the provisions of section 66A.32 or an existing mutual life insurance company may establish, a temporary capital of, such amount not less than $100,000, as may be approved by the commissioner. Such temporary capital shall be invested by the company in the same manner as is provided for the investment of its other funds. Out of the net surplus of the company the holders of the temporary capital stock may receive a dividend which may be cumulative. This capital stock shall not be a liability of the company but shall be retired within a reasonable time and according to terms approved by the commissioner. At the time for the retirement of this capital stock, the holders shall be entitled to receive from the company the par value thereof and any dividends thereon due and unpaid, and thereupon the stock shall be surrendered and canceled. In the event of the liquidation of the company, the holders of temporary capital stock shall have the same preference in the assets of the company as shareholders have in a stock insurance company. Dividends on this stock are subject to section 60D.20, subdivision 2. Temporary capital stock may be issued with or without voting rights. If issued with voting rights, the holders shall, at all meetings, be entitled to one vote for each $10 of temporary capital stock held. History:  1967 c 395 art 1 s 7; 1969 c 7 s 7-13; 1969 c 598 s 1; 1969 c 708 s 63; 1973 c 634 s 2-4; 1976 c 213 s 1-4; 1978 c 465 s 1,2; 1978 c 674 s 60; 1980 c 516 s 2; 1983 c 216 art 1 s 15; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1986 c 313 s 2; 1986 c 444; 1991 c 325 art 10 s 4; art 14 s 1; 1992 c 564 art 1 s 15,16,54; 1995 c 214 s 3; 1996 c 446 art 2 s 1,2; 2005 c 69 art 2 s 1-6, 18
MN Stat § 66A.34 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 66A — Mutual Companies|Section 66A.34 — Dividends.

66A.34 DIVIDENDS. Subdivision 1. Annual apportionment and accounting of surplus. Every life insurance company doing business in this state conducted on the mutual plan or in which policyholders are entitled to share in the profits or surplus shall make an annual apportionment and accounting of divisible surplus to each policyholder, beginning not later than the end of the third policy year, on all participating policies hereafter issued; and each such policyholder shall be entitled to and be credited with or paid, in the manner hereinafter provided, such a portion of the entire divisible surplus as has been contributed thereto by that person's policy. Subd. 2. Policyholder to choose. Every policyholder shall, on all participating policies hereafter issued, be permitted, after that person's policy has been in force five years, annually, to select the manner and method of the application of the surplus to be annually apportioned to that person's policy from among those set forth in the policy. All apportioned surplus not actually paid over to the insured, or applied in the reduction of current or future premiums or in the purchase of paid-up insurance or pure endowment additions, shall be credited to the insured and carried as an actual liability and be paid at the maturity of the policy. Subd. 3. Waiver prohibited. No agreement between the company and the policyholder or applicant for insurance shall be held to waive any of the provisions of subdivisions 1 and 2. Subd. 4. Policies issued prior to January 1, 1908. Every life insurance company doing business in this state conducted on the mutual plan, or in which policyholders are entitled to share in the profits or surplus, shall, on all policies of life insurance issued prior to January 1, 1908, under the conditions of which the distribution of surplus is deferred to a fixed or specified time, and contingent upon the policy being in force and the insured living at that time, annually ascertain the amount of surplus to which all such policies as a separate class are entitled, and shall annually apportion to such policies as a class the amount of surplus so ascertained, and carry the amount of such apportioned surplus, plus the actual interest earnings and accretions of such fund, as a distinct and separate liability to such class of policies on and for which the same was accumulated, and no company or any of its officers shall be permitted to use any part of such apportioned surplus fund for any purpose other than the express purpose for which the same was accumulated. This subdivision shall not apply to industrial policies. Subd. 5. Required policy provision. The required policy provision is contained in section 61A.03, subdivision 1, paragraph (f). History:  1967 c 395 art 2 s 26; 1986 c 444; 2005 c 69 art 2 s 18
MN Stat § 66A.36 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 66A — Mutual Companies|Section 66A.36 — Stock And Mutual Life Insurance Companies.

66A.36 STOCK AND MUTUAL LIFE INSURANCE COMPANIES. Insurance corporations for the transaction of the kinds of business authorized and permitted by section 60A.06, subdivision 1, clause (4), and subject to these provisions and limitations, may be formed having a capital stock, but which shall be controlled by the votes of both stockholders and participating policyholders. All such companies shall be known as stock and mutual companies. Corporations so formed shall have the right to make any contracts which insurance companies formed to transact the same kinds of business upon the stock plan or upon the mutual plan are authorized by law to make. History:  1967 c 395 art 2 s 33; 2005 c 69 art 2 s 18
MN Stat § 66A.37 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 66A — Mutual Companies|Section 66A.37 — Application.

66A.37 APPLICATION. All provisions of law relating to stock companies and all such provisions relating to mutual companies shall, so far as applicable, relate to and govern such stock and mutual companies and the rights of stockholders and members thereof. History:  1967 c 395 art 2 s 34; 2005 c 69 art 2 s 18
MN Stat § 66A.38 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 66A — Mutual Companies|Section 66A.38 — Voting Rights.

66A.38 VOTING RIGHTS. Unless otherwise provided in the certificate of incorporation or an amendment thereto adopted as provided by section 60A.07, subdivision 1d, or 66A.39, each stockholder of a stock and mutual life insurance company shall, at all meetings, be entitled to one vote for each share of stock held and, except as otherwise provided by law, each holder of a policy entitled to participate in profits or savings shall be a member and, as such, shall be entitled to the number of votes to which that person would be entitled in a mutual company. History:  1967 c 395 art 2 s 35; 1986 c 444; 2005 c 69 art 2 s 18; art 3 s 11
MN Stat § 66A.43 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 66A — Mutual Companies|Section 66A.43 — May Acquire Capital Stock.

66A.43 MAY ACQUIRE CAPITAL STOCK. In pursuance of any plan such company shall have power, and shall be privileged, to acquire any shares of its capital stock by gift, bequest, or purchase. Until all of the shares of its outstanding capital stock are acquired, any shares so acquired shall be taken and held in trust for all the policyholders of such company, as hereinafter provided, and shall be assigned and transferred on the books of the company to three trustees, who shall be named in such plan and shall be approved by the commissioner. All shares held by such trustees shall be deemed admitted assets of such company at their par value. Such trustees, who may be directors of the company, shall vote all shares so acquired and held by them at all corporate meetings in accordance with the majority vote of policyholders voting on any question before the meeting. When all of the outstanding capital stock of any such corporation shall have been acquired, the entire capital stock of such corporation shall be retired and canceled and thereupon such corporation shall be and become a mutual life insurance company without capital stock. The plan of conversion formulated pursuant to section 66A.42 shall provide for the method of filling vacancies among such trustees. Before undertaking any of the duties of appointment each trustee shall file with the company a verified acceptance of appointment and a declaration that the person will faithfully discharge the duties of trustee. All dividends and other sums received by such trustees on the shares of stock so acquired by them shall, after paying the necessary expenses of executing the trust, be immediately repaid to such company for the benefit of all who are or may become policyholders of such company and entitled to participate in the profits or savings thereof. History:  1967 c 395 art 2 s 38; 1986 c 444; 2005 c 69 art 2 s 18
MN Stat § 67A.01 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 67A — Township Mutual Companies|Section 67A.01 — Number Of Members Required, Property And Territory.

67A.01 NUMBER OF MEMBERS REQUIRED, PROPERTY AND TERRITORY. Subdivision 1. Number of members. It shall be lawful for any number of persons, not less than 25, residing in adjoining counties in this state, who shall collectively own property worth at least $50,000, to form themselves into a corporation for mutual insurance against loss or damage by the perils listed in section 67A.13. Subd. 2. Authorized territory. (a) A township mutual fire insurance company may be authorized to write business in up to nine adjoining counties in the aggregate at the same time. If policyholder surplus is at least $500,000 as reported in the company's last annual financial statement filed with the commissioner, the company may, if approval has been granted by the commissioner, be authorized to write business in ten or more counties in the aggregate at the same time, subject to a maximum of 20 adjoining counties, in accordance with the following schedule:      Number of Counties Surplus Requirement   10 $500,000   11 600,000   12 700,000   13 800,000   14 900,000   15 1,000,000   16 1,100,000   17 1,200,000   18 1,300,000   19 1,400,000   20 1,500,000   (b) In the case of a merger of two or more companies having contiguous territories, the surviving company in the merger may transact business in the entire territory of the merged companies; however, the territory of the surviving company in the merger may not be larger than 20 counties. (c) A township mutual fire insurance company may write new and renewal insurance on property in cities within the company's authorized territory having a population less than 25,000. A township mutual fire insurance company may continue to write new and renewal insurance once the population increases to 25,000 or greater provided that amended and restated articles are filed with the commissioner along with a certification that such city's population has increased to 25,000 or greater. (d) A township mutual fire insurance company may write new and renewal insurance on property in cities within the company's authorized territory with a population of 25,000 or greater, but less than 150,000, if approval has been granted by the commissioner. No township mutual fire insurance company shall insure any property in cities with a population of 150,000 or greater. (e) If a township mutual fire insurance company provides evidence to the commissioner that the company had insurance in force on December 31, 2007, in a city within the company's authorized territory with a population of 25,000 or greater, but less than 150,000, the company may write new and renewal insurance on property in that city provided that the company files amended and restated articles by July 31, 2010, naming that city. History:  1967 c 395 art 8 s 1; 1971 c 135 s 1; 1975 c 15 s 1; 1999 c 53 s 1; 2009 c 37 art 3 s 18
MN Stat § 67A.02 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 67A — Township Mutual Companies|Section 67A.02 — Certificate Of Incorporation.

67A.02 CERTIFICATE OF INCORPORATION. Subdivision 1. Contents. The persons who desire to form a township mutual fire insurance company, as defined in section 67A.01, shall make, sign, and acknowledge before some officer competent to take acknowledgments of deeds a certificate of incorporation which shall specify: (1) the name; (2) the location of the principal office; (3) the general nature of the business; (4) the territory in which it desires to transact business; (5) who may become members; (6) source from which the corporate funds shall be derived; (7) the class of property it desires to insure; (8) in what board its management shall be vested; (9) the date of its annual meeting; and (10) the corporate existence. It may contain any other lawful provision defining and regulating the powers or business of the corporation, its officers, directors, and members. Subd. 2. Approval of commissioner required; filing. The certificate of every such corporation shall be presented to the commissioner for approval and, on approving the same, the commissioner shall endorse thereon the approval and the certificate shall then be filed in the commissioner's office and recorded in a book kept therein for that purpose. Upon the approval of the certificate and the filing of the same with the commissioner, the corporate organization of the incorporation shall be complete. History:  1967 c 395 art 8 s 2; 1986 c 444
MN Stat § 67A.03 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 67A — Township Mutual Companies|Section 67A.03 — Corporate Existence.

67A.03 CORPORATE EXISTENCE. The corporate existence of any township mutual fire insurance company heretofore or hereafter organized may be made perpetual by so providing in its articles of incorporation. History:  1967 c 395 art 8 s 3; 1975 c 15 s 2
MN Stat § 67A.04 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 67A — Township Mutual Companies|Section 67A.04 — Amendments To Certificate Of Incorporation.

67A.04 AMENDMENTS TO CERTIFICATE OF INCORPORATION. The certificate of incorporation of any township mutual fire insurance company may be amended in respect to any matter which the original certificate of incorporation might lawfully have contained, or which is authorized by the provisions of sections 67A.01 to 67A.26, by the adoption of a resolution, specifying the proposed amendment, at the regular meeting, or a special meeting called for that expressly stated purpose, by a majority vote of its members present and voting; or by a majority vote of its entire board of directors, within one year after having been thereby duly authorized by a specific resolution duly adopted at such meeting of the members, and by causing the resolution to be embraced in a certificate duly executed by its president and secretary under the corporate seal of the company, if it have one, and approved, filed, and recorded in the manner prescribed by such sections for the approval, filing, and recording of the original certificate. History:   1967 c 395 art 8 s 4
MN Stat § 67A.05 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 67A — Township Mutual Companies|Section 67A.05 — Bylaws.

67A.05 BYLAWS. Subdivision 1. Bylaws required. The first board of directors shall adopt bylaws, which shall remain effective until and except as amended by the members at any regular or special meeting called therefor. Subd. 2. Filing of bylaws and amendments. Every township mutual fire insurance company doing business within this state shall be subject to the requirements of section 72A.061, subdivision 2, as to amendments or additions to its bylaws. History:  1967 c 395 art 8 s 5; 1987 c 337 s 110
MN Stat § 67A.06 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 67A — Township Mutual Companies|Section 67A.06 — Powers Of Corporation.

67A.06 POWERS OF CORPORATION. Every corporation formed under the provisions of sections 67A.01 to 67A.26, shall have power: (1) to have succession by its corporate name for the time stated in its certificate of incorporation; (2) to sue and be sued in any court; (3) to have and use a common seal and alter the same at pleasure; (4) to acquire, by purchase or otherwise, and to hold, enjoy, improve, lease, encumber, and convey all real and personal property necessary for the purpose of its organization, subject to such limitations as may be imposed by law or by its articles of incorporation; (5) to elect or appoint in such manner as it may determine all necessary or proper officers, agents, boards, and committees, fix their compensation, and define their powers and duties; (6) to make and amend consistently with law bylaws providing for the management of its property and the regulation and government of its affairs; (7) to wind up and liquidate its business in the manner provided by chapter 60B; (8) to indemnify certain persons against expenses and liabilities as provided in section 302A.521. In applying section 302A.521 for this purpose, the term "members" shall be substituted for the terms "shareholders" and "stockholders "; and (9) to eliminate or limit a director's personal liability to the company or its members for monetary damages for breach of fiduciary duty as a director. A company shall not eliminate or limit the liability of a director: (i) for breach of loyalty to the company or its members; (ii) for acts or omissions made in bad faith or with intentional misconduct or knowing violation of law; (iii) for transactions from which the director derived an improper personal benefit; or (iv) for acts or omissions occurring before the date that the provisions in the articles eliminating or limiting liability become effective. History:  1967 c 395 art 8 s 6; 1969 c 708 s 63; 1975 c 15 s 3; 1979 c 152 s 1; 1987 c 337 s 111; 1987 c 384 art 2 s 1; 1989 c 209 art 2 s 1; 2005 c 69 art 3 s 14; 2009 c 37 art 3 s 19
MN Stat § 67A.07 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 67A — Township Mutual Companies|Section 67A.07 — Principal Office.

67A.07 PRINCIPAL OFFICE. The principal office of a township mutual fire insurance company shall be located in a county in which the company is authorized to do business. History:  1967 c 395 art 8 s 7; 1973 c 123 art 5 s 7; 1975 c 15 s 4; 2009 c 37 art 3 s 20
MN Stat § 67A.08 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 67A — Township Mutual Companies|Section 67A.08 — Board Of Directors.

67A.08 BOARD OF DIRECTORS. Each company shall choose of its members no less than five, and not more than nine, directors to manage the affairs of the company, who shall hold their office for such period as may be fixed by the bylaws of the company, not exceeding three years, and until their successors are elected and qualified. History:   1967 c 395 art 8 s 8
MN Stat § 67A.09 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 67A — Township Mutual Companies|Section 67A.09 — Officers.

67A.09 OFFICERS. Subdivision 1. How elected or chosen. The directors shall choose one of their number as president, one as vice-president, and one as secretary; they shall also choose a treasurer, who need not be a member of the board, but must be a member of the company. They may also choose a manager, who need not be a member of the board, and need not be a member of the company. The offices of secretary and treasurer may be held by the same person. The board of directors may appoint other officers as it deems necessary for the conduct of business. Subd. 2. Officers, bond. The officers and employees of the company shall give such bond to the company in such sum as the directors shall determine. History:  1967 c 395 art 8 s 9; 1975 c 15 s 5; 1989 c 130 s 1
MN Stat § 67A.10 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 67A — Township Mutual Companies|Section 67A.10 — Rights Of Certain Members.

67A.10 RIGHTS OF CERTAIN MEMBERS. Nonresidents owning property in the territory where any such company is authorized to do business may become a member with all the rights thereof except eligibility to office. History:  1967 c 395 art 8 s 10; 1975 c 15 s 6