ed by the legislature of this territory is adopted, and declared to be law within said territory. CHAPTER 16.-CORPORATIONS. INSURANCE COMPANIES. SECTION 1. [Statement.]-It shall be the duty of each and every insurance company incorporated under the laws of this state to file with the auditor of the state a full and specific statement of the amount of cash paid in upon said stock; the amount of stock not paid for in cash; the amount secured by mortgages or pledges of real estate; the names and residences of the stockholders in said company, with the amount of stock owned or held, set opposite the name of each, and if not all paid up in cash, the amount unsecured and the amount secured, specifying whether by real or personal security, also set opposite the name of each; the names of all the officers and agents of the company wherever residing; the amount of polices issued by, and outstanding against the company, at the date of said report; the amount of premiums received by said company during the preceding six months; the amount of cash on hand; the amount of bills payable and receivable at the date of said statement; the amount of real estate owned by said company, where held and owned, and in what manner said real estate became vested in said company; which report and statement shall be verified by the oath of the president and secretary of the company. R. S. 187. G. S. 160.] SEC. 2. [Semi-annual statement.]-It shall be the duty of every insurance company now created, or that may hereafter be created under the laws of this state, to file a semi-annual statement of the affairs of said company, with the auditor of the state, on the first day of January and July in each year, which statement shall be verified by the oath of the secretary of the company. Such statement shall contain- First. The name and locality of the company. Second. The amount of capital stock of said company. I. The amount of cash on hand. II. The amount of cash in hands of agents. III. The real estate unincumbered. IV. The bonds and notes of the company, and how they are secured, with the rates of interest thereon, and whether given in payment of stock subscription, or for bona fide loans. V. Debts of the company secured by mortgage. VI. Debts otherwise secured. Fifth. The amount of liabilities due or not due to banks or other creditors by the company. Sixth. Losses adjusted and due. Seventh. Losses adjusted and not due. Eighth. Losses unadjusted. Ninth. Losses in suspense. Tenth. All other claims against the company. Eleventh. The greatest amount insured by any one risk. And the auditor shall cause a brief abstract of such statement to be published in at least one newspaper at the capital of the state, and such company shall pay for said publication. SEC. 3. [Penalty.]-A failure to comply with the provisions of the two preceding sections, shall subject the president and secretary of any company, each, individually, to the penalty of one hundred dollars, to be recovered in an action at SECS. 1-141. Chapter 25. R. S. 187. G. S. 160. law in the name of any citizen of the state, one-half of the same to the use of the state, and the other moiety to the use of the informer. SEC. 4. Real estate.]-It is declared unlawful for any insurance company in this state, to purchase or hold any real estate, save what shall be necessary for the transaction of its legitimate business of insurance; and deeds and conveyances to said company, for any other purposes, are hereby declared to be void. SEC. 5. [Foreign companies.]-It shall not be lawful for any agent or agents of any insurance company, incorporated by any other state or territory, directly or indirectly, to take risks or transact any business of insurance in this state without first procuring a certificate from the auditor of the state; and before obtaining such certificate, such agent or agents shall furnish the auditor with a statement, under the oath of the president or secretary of the company for which he or they may act, which statement shall show First. The name and locality of the company. Third. The amount of its capital stock paid up. I. The amount of cash on hand, and in the hands of agents and other persons. III. The lands owned by the company, and how they are secured, with the rate of interest thereon. IV. V. VI. The debts of the company secured by mortgage. Debts otherwise secured. Debts for premiums. VII. All other securities. Fifth. The amount of liabilities due or not due to banks or other creditors by the company. Sixth. Losses adjusted and due. Seventh. Losses adjusted and not due. Eighth. Losses unadjusted. Ninth. Losses in suspense, waiting for further proof. Tenth. All other claims against the company. Eleventh. The greatest amount insured by any one risk. Twelfth. The greatest amount allowed by the rules of the company to be insured in any one city, town or village. Thirteenth. The greatest amount allowed to be insured in any one block. Fourteenth. The act of incorporation of such company. Which statement shall be filed in the office of said auditor, together with a written instrument under the seal of the company, signed by the president and secretary, authorizing such agent to acknowledge service, consenting that service of process upon such agent shall be taken and held to be as valid as if served upon the company, according to the laws of the state, or any state or territory, and waiving all claims of errors by reason of such service; and no insurance company, or agents of any insurance company, incorporated by any other state or territory, shall transact any business of insurance in this state, unless such company is possessed of at least one hundred thousand dollars of actual capital, invested in stocks of at least par value, or in bonds or mortgages on real estate worth double the amount for which the same is mortgaged; and upon filing the aforesaid statement and instrument with the auditor of the state, and furnishing him with satisfactory evidence of such instrument, as aforesaid, it shall be the duty of said auditor to issue a certificate thereof, with authority to transact business of insurance, to the agent or agents applying for the same; and the auditor may demand and receive two dollars for every such certificate, to be paid by the company. SEC. 6. [Additional statement.]-It shall be unlawful for any incorporated company or association, partnership, firm or individual, or any member or agent or agents thereof, or for any agent or agents of any company incorporated by any foreign government, other than a state of this Union, to transact any business of insurance in this state without procuring a certificate of authority from the auditor of this state; such company, association, partnership, firm, or individual, or any agent or agents thereof, having first filed, under oath, in the office of said auditor, a statement, setting forth the charter or act of incorporation of any and every such incorporated company, and the by-laws, copartnership agreement and articles of association of any and every such unincorporated company, association, partnership or firm, and the name and residence of such individual and the name and residence of the members of every such partnership or firm; and the matters required to be specified by the provisions of this chapter, and the written authority therein mentioned; and furnish evidence, to the satisfaction of the auditor of the state, that said company has invested in stocks of some one or more of the states of this Union, or of the United States, the amount of one hundred thousand dollars, and that such stocks are held by citizens of the United States, or in bonds or mortgages of real estate situated in the United States, fully securing the amount for which the same is mortgaged, or bonds of cities of the United States, the aggregate market value of the investment of the company in which shall not be less than one hundred thousand dollars; and such incorporated company or unincorporated company, association, partnership, firm, or individual, or any agent or agents thereof, filing said statement and furnishing evidence of investment as aforesaid, shall be entitled to a certificate of authority for such body or individual, in like manner as is provided in this chapter. SEC. 7. Renewed annually.]-The statement and evidences of investment required by this chapter, shall be renewed annually in the month of January of each year. The auditor of the state, upon being satisfied that the capital, securities and investments remain secure, shall furnish a renewal of certificates as aforesaid; and the company, agent, or agents obtaining such certificate, shall file the same, together with the statement upon which it was obtained or renewed, in the office of the auditor of state. SEC. 8. [Agents.]-Any person or firm in this state who shall receive or receipt for any money, on account of or for any contract of insurance made by him or them, or for any such insurance company or individual aforesaid, or who shall receive or receipt for money from other persons, to be transmitted to any such company or individual aforesaid, for a policy or policies of insurance or any re newal thereof, although such policy or policies of insurance may not be signed by him or them, as agent or agents of such company, or who shall in any wise, directly or indirectly, make or cause to be made any contract or contracts of insurance, for or on account of such company aforesaid, shall be deemed, to all intents and purposes, an agent or agents of such company, and shall be subject and liable to all the provisions of this chapter. SEC. 9. [Evidence.]-Copies of all papers required by this chapter to be deposited in the office of the auditor of this state, certified under the hand of such auditor to be true and correct copies of such papers, shall be received as evidence in all courts and places, in the same manner and have the same force and effect as the original would have if produced. SEC. 10. [Penalty.]-Any person or persons violating the provisions of this subdivision, shall upon conviction thereof, in any court of competent jurisdiction, be fined in any sum not exceeding one thousand dollars, or imprisoned in the county jail not more than thirty days, or both, at the discretion of the court. Violations of the provisions of this subdivision may be prosecuted by information filed by the prosecuting attorney of the proper county, or by indictment of the grand jury. SEC. 11. [Statements.]-Any insurance company complying with the provisions of this subdivision, and securing the certificate of the auditor for any of its agents, shall not be required to furnish the single statement, and evidences required hereby for more than one of such agents, which being filed with the auditor of this state, shall be deemed a sufficient compliance for its free transaction of business in this state. 133 SEC. 12. [Guarantee fund.-If any insurance company, firm or individual, or their agent or agents, having filed its or their statement as required by this subdivision, and conformed to the requirements thereof, shall have on deposit in any other state or territory, or elsewhere than in this state, any portion of its capital or earnings as a guarantee fund for the exclusive benefit or security of persons insured in such state or territory, or other place, it shall be the duty of the auditor of the state to withhold from such body or individual so alienating any such portion of their capital or resources, the certificates and authority in this subdivision provided for, until such body or individual shall file with the auditor of the state, a statement, duly verified by the oath or affirmation of the president or secretary of such incorporated company, association, partnership or firm, or of such individual, showing the amount of premiums received in this state by such company during the year ending on the first of January next preceding the filing of said statement, and shall deposit in this state, in such manner as the auditor of the state shall direct, five per cents of the amount received in money, or any solvent state or United States stocks of at least par value, or mortgages on real estate situated in this state, of at least double the value for which the same is mortgaged; which statement and deposit shall be so made from year to year, at the time of each renewal or original grant of authority by said auditor, until the sum of forty thousand dollars is deposited as aforesaid, which said sum and every yearly part thereof deposited as aforesaid, shall be held under control of such auditor of the state, as a guarantee fund for the benefit of such persons as may be in any manner insured in their property by such company in this state, and the same or any part of the sums so deposited, shall not be drawn out of the depositors, until all claims for losses or premiums, or risks unexpired, shall be paid and discharged, or until all deposits made in other states, territories, or other places not within this state, shall be withdrawn; and in case of the insolvency of any such company, the sums so deposited as aforesaid shall be applied by the auditor of the state, pro tinto, towards the payment of all claims against such body or individual filed in his office, duly liquidated and authenticated, and losses and premiums or risks unpaid on policies issued within six months after such insolvency may occur. Any such body or individual shall be deemed insolvent, upon failure to pay any undisputed loss insured against, within this state for the space of ninety days after final judgment for the amount of any loss so insured against, when no appeal shall have been taken from such judgment by either party, or other proceeding begun to vacate, modify, reverse, or review such judgment, or to arrest the same, or to obtain a new trial. Such body or individual shall be entitled to receive the interest or dividends on such stocks so deposited from time to time as the same may become due. This section shall not apply to any of the aforesaid bodies or individuals who have made no such deposits as in this section mentioned, elsewhere than in this state. SEC. 13. [Mutual companies.]-Mutual insurance companies incorporated by any state or territory other than the state of Nebraska, upon filing in the office of the auditor the act of incorporation of said company, together with a written instrument under seal of said company, signed by the president and secretary of said company under oath, certifying that said company is possessed of a capital of at least one hundred thousand dollars, secured by lien on real estate, worth at cash valuation at least five times the amount of said capital, and not encumbered to more than one-fourth of said cash valuation, shall be entitled to a certificate from said auditor, with authority to transact business of insurance in this state, and said company shall be exempt from the provisions of this subdivision, with the exception of the publication of statement and certificate of the auditor. SEC. 14. [Statement to be filed and published.]-It shall be the duty of the agent or agents in either of the foregoing sections mentioned, before taking any risks or transacting any business of insurance in this state, to file in the office of the county clerk of the county of which he or they may desire to es tablish an agency for any such company, a copy of the statement required to be filed with the auditor of the state as aforesaid, together with a certificate of such auditor, which shall be carefully preserved for public inspection by said clerk; and said statement and certificate shall be published one week in one daily and four weeks in one weekly newspaper printed and published in the county in which such agent or agents has or have his or their office of business as such agents; and if no daily paper is published in such county, then such publication shall be sufficient if made in one weekly newspaper as aforesaid, but if no weekly newspaper be printed or published in such county, then such publication shall be made in one weekly newspaper of this state of most general circulation in such county. COLLEGES, UNIVERSITIES, NORMAL SCHOOLS, ACADEMIES, ETC. SEC. 15. [How incorporated.]-Any number of persons, not less than five, desiring to establish a college, university, normal school, or other institution for the purpose of promoting education, religion, morality, agriculture or the fine arts, may, by complying with the provisions of this subdivision, become a body-corporate and politic with perpetual succession, and may assume a corporate name by which they may sue and be sued, plead and be impleaded in all courts of law and equity; may have a corporate seal, and the same alter and break at pleasure; may hold all kinds of estate, real, personal or mixed, which they may acquire by purchase, donation, devise, or otherwise, necessary to accomplish the objects of the incorporation, and the same to dispose of and convey at pleasure. SEC. 16. [Value of property.]-To ascertain the property and value thereof, of any institution desirous of becoming a body-corporate, under the provisions of this subdivision, it shall be the duty of the probate judge of any county of this state, on application in writing, of any number of persons not less than five, of whom not less than five shall be resident freeholders of the county where such application is made, or where such institution is or is intended to be located, setting forth the objects for which they desire to become incorporated, to select three disinterested freeholders of the county and voters therein, as appraisers, who shall first take an oath for the faithful discharge of their duties, before some competent officer, and such appraisers shall then proceed to make a schedule, and upon actual view to appraise the true value, in money, of all such goods, chattels, lands and tenements, choses in action, rights, credits and subscriptions, as such applicants shall exhibit to such appraisers, and shall return such schedule with their appraisement, and certificate of some officer authorized to administer oaths, that such appraisers were first duly sworn by him to discharge their duties as such appraisers, to the probate judge of the proper county; and if the amount so found shall be equal to the sum required for the commencement of any such institution as said applicants desire, such probate judge shall give such applicants a certificate of the fact, and they shall enter it in a book of records, by them provided for that purpose, which certificate, together with the corporate name and the articles of association, they shall also cause to be recorded in the county clerk's office of the county where such institution is or is intended to be located, and they shall thenceforward be a body-corporate and politic, according to the provisions of this subdivision; and such probate judge, appraisers and county clerk shall be entitled to the same fees as for like services in other cases, and no more. SEC. 17. [Trustees.]-The corporators of any college or university, which may be organized in accordance with the provisions of this subdivision, may elect five or more trustees, of whom not less than five shall be resident freeholders of the county where such college or university is located, who shall constitute a board. of directors for such institution, and they shall have power to fill vacancies that may occur in their board, and shall hold their offices until their successors are elected and qualified according to the rules and by-laws that may be adopted by the board of trustees, but at all times at least five of such board of trustees shall |