(3) Income of previous year. (4) Expenditure of previous year. Companies to reply to inquiries of Council. Penalty for not replying. (f) The amount covered by policies in force in respect of each class of risk; Thirdly, The income of the Company during the preceding year specifying— (a.) The amount of cash received on premium notes; (b.) The amount of premium notes or undertakings: (c.) The amount of interest received: (d.) The amount of income from all other sources : Fourthly. The expenditure during the preceding year, specifying (a.) The amount of losses paid during the year, stating how much of the same accrued prior, and how much subsequent to, the date of the preceding statement, and the amount at which such prior accrued losses were estimated in such preceding statement; (b.) The amount of expenses paid during the year: (c.) The amount of taxes; (d.) The amount paid for re-insurance; (e.) The amount of all other payments and expenditures under their appropriate heads. C. S. M. c. 9, Div. 1, s. 68, part; 53 V. c. 28, s. 34, part. 80. Any Company shall further, when required, make prompt and explicit answer in reply to any inquiries in Lieut. Gov. in relation to its transactions, which may be required by the Lieutenant Governor in Council; and any Company which fails to make and deposit such statement as in the last preceding section required so verified, or to reply to such inquiry, and its Manager and Secretary shall be subject, respectively, for each offence, to a fine or penalty of fifty dollars, to be recovered on behalf of Her Majesty for the use of this Province; and it shall be the duty of the Department of Agriculture and Immigration to publish a synopsis of such returns, as well as the names of such Companies which have not made returns, in the Manitoba Gazette, on or before the first day of March in each year. C. S. M. c. 9, Div. 1, s. 68 part; 53 V. c. 28, s. 34, part. time tion to apply Insurance 81. The two last preceding sections and all the provisions Previous secthereof also apply to every Fire Insurance Company by to all Fire whatever authority incorporated, and now or at any hereafter transacting the business of fire insurance in Province. C. S. M. c. 9, Div. 1, s. 69; 47 V. c. 10, s. 44; 53 V. c. 28, s. 33, part. this sons to exam Fire Insur 82. The Lieutenant Governor in Council, whenever he Lieut. Gov. in Council may shall deem it expedient, may appoint any one or more quali- appoint perfied persons, not being officers of any other Fire Insurance ine into the Company, to examine into the affairs of any Mutual Fire In- affairs of surance Company incorporated under the provisions hereof or ance Com under "The Manitoba Mutual Fire Insurance Companies Act "panies. or any Acts amending the same, or to which the said provisions or any of them may apply, and also into the affairs of any Fire Insurance Company doing business in this Province; and it shall be the duty of the officers or agents of any such Company to cause its books to be opened for the inspection of the person or persons appointed, and otherwise facilitate such examinations and for that purpose such person or persons shall have power to examine, under oath, such officers and agents: and whenever it shall appear from such examination that the assets and financial position of such Company are such as not to justify the continuance in business of any such Company, the Attorney-General may apply in a summary manner, on motion to the Court of Queen's Bench or to any Judge thereof, for an order requiring such Company to show cause why the business of the Company should not be closed; and the Court or Judge may thereupon proceed to hear the alle- Proceedings to gations and proofs of the respective parties, and in case it shall panies whose appear to the satisfaction of the Court or Judge that the an unsatisfacassets and funds of the Company are not sufficient as aforesaid, tory or that the interests of the public so require, the Court or Judge may decree a dissolution of said Company's affairs, and may appoint a Receiver to take possession of, collect and get in the assets and effects of the said Company, and may order and direct that the affairs of the said Company shall be wound up under the order and direction of the Court, and do all other matters and things necessary or requisite in the premises. C. S. M. c. 9, Div. 1, s. 70. close Com affairs are in tory condi rights of the 83. Such Receiver shall have full power, under the author- Powers and ity of the Court of Queen's Bench or any Judge thereof Receiver appointing him, to make all such assessments on the premium appointed by notes or undertakings held by the said Company as may be necessary to pay its debts and claims against it, as the Directors would have authority to make, and the notice of assess Powers of Judge. ment may be given in the same manner as is herein before provided; and the said Receiver shall have the like rights and remedies upon and in consequence of the non-payment of such assessments as are given to the Company or the Directors thereof, and such Receiver may receive a surrender of any policy of said Company or cancel any policy in all cases where the Directors are authorized to receive the surrender of or cancel policies. C. S. M. c. 9, Div. 1, s. 71. 84. The Court or any Judge by which or whom such Receiver is appointed may also, upon his application, examine by a reference or otherwise, as it or he may deem proper, into the proceedings and acts of said Company, and if it shall appear upon such examination that the Directors or officers of such Company, or any of them, have in any manner misapplied or improperly disposed of the funds, property or effects of such Company, it shall be lawful for the Court or Judge to order and decree that such persons as may be found guilty of such misapplication or improper disposition shall pay the amount thereof to such Receiver, and to enforce such order or decree by execution or by attachment, or by such process of the Court as shall seem expedient. C. S. M. c. 9, Div. 1, s. 72, part. Short title. EXAMINATION INTO AFFAIRS-RECEIVER-DISSOLUTION. Examination-Winding up, s. 47. $3. 47-49. Powers of Court, s. 49. Right and powers of Receiver, s. 48. ER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows: SHORT TITLE. 66 1. This Act may be cited as The Mutual Hail Insurance Act." 54 V. c. 18, s. 1. INTERPRETATION. Interpretation. "Company." 2. In this Act, unless the context otherwise requires,— (a.) The expression "Company means a Company incorporated under the provisions of this Act or of the Act of the Legislature of Manitoba passed in the fifty-fourth year of Her Majesty's reign chaptered eighteen. INCORPORATION. Lieut. Gov. in 3. The Lieutenant Governor in Council may, by Letters grant charters. Patent under the Great Seal of the Province, grant a charter to any number of persons. not less than ten, each of whom shall be the owner of real estate situate in the Province of Manitoba, worth at least one thousand dollars over and above all incumbrances thereon, who shall petition therefor, constituting such persons and others who may become members of the Company thereby created, a body corporate and politic for the purpose of mutual insurance against loss or damage by hail, tornadoes, cyclones and hurricanes. 54 V. c. 18, s. 2. Notice of application. Contents of notice. 4. The applicants for such Letters Patent must give at least two weeks' previous notice of their intention to apply for such charter, to be inserted once in the Manitoba Gazette. which notice shall state: (a.) The proposed corporate name of the Company, which shall not be that of any other known Company incorporated or unincorporated, or any name liable to be unfairly confounded therewith, or otherwise on public grounds objectionable : |