Section amended. Number who may associate Further pur poses of asso ciation. reinsurance. [ No. 51. ] AN ACT to amend an act entitled "An act to amend section one of act seventy-seven of the session laws of eighteen hundred and sixty-nine, entitled 'An act relative to life insurance companies transacting business within this State, approved March thirtieth, eighteen hundred and sixty-nine, being compiler's section two thousand nine hundred and thirty-six of the compiled laws of eighteen hundred and seventy-one, section one, chapter one hundred and thirty-one of Howell's annotated statutes of Michigan, as amended by act approved January twenty-seventh, eighteen hundred and eighty-five." SECTION 1. The People of the State of Michigan enact, That section one of act seventy-seven of the session laws of eighteen hundred and sixty-nine, entitled "An act in relation to life insurance companies transacting business within this State, approved March thirtieth, eighteen hundred and sixtynine, being compiler's section two thousand nine hundred and thirty-six of the compiled laws of eighteen hundred and seventy-one; section one, chapter one hundred and thirty-one of Howell's annotated statutes of the State of Michigan, as amended by act approved January twenty-seventh, eighteen hundred and eighty-five, be and the same is hereby amended so as to read as follows: SECTION 1. That any number of persons not less than thirfor purpose of teen may associate together to form an incorporated company life insurance. for the purpose of making assurance upon the lives of individuals, and of every insurance pertaining thereto, and to grant, purchase and dispose of annuities. Also against accidental injuries and death by accident. The indemnity of employers against injury to or death by accident of their employés. The insurance of plate glass, damage to property, and injury or death of persons occasioned by the explosion of steam boilers, and the insurance of persons holding positions Provisions for of public or private trust. Every company organized under this act shall have authority to reinsure any risk hereafter authorized to be undertaken by them, and to grant reinsurance upon any similar risk undertaken by any other company, but shall not have power to undertake marine and fire risks, or any other species of insurance whatever, except upon lives, or to be in any way connected in their business with any company undertaking other risks than upon the lives of individuals, except as herein provided. The provisions of this section. shall apply to any company heretofore organized or that may hereafter be organized under its provisions, for the purpose of insuring the lives of individuals, or for the purpose of paying indemnities for accidental injuries. Fire and marine insurance prohib ited. Approved March 26, 1897. [ No. 52. ] AN ACT authorizing the incorporation of homes for aged, infirm or indigent men or women. corporate. SECTION 1. The People of the State of Michigan enact, That Number reany number of persons, not less than five, being citizens of this quired to inState, may organize a corporation for the purpose of founding and establishing a home for the care and support of aged, infirm or indigent men or women within this State. subscribers board of association, politic. SEC. 2. Upon there being subscribed as a donation for the When amount benefit of any such proposed home two thousand five hundred subscribed, dollars the subscribers thereto may meet and elect a board may elect a of directors not less than five or more than thirty-five in num- directors. ber, who shall be citizens of the State of Michigan, and when ten per cent of the amount so subscribed shall have been paid to the said directors, such directors may thereupon execute Articles of articles of association in duplicate, and file one duplicate in where filed. the office of the Secretary of State and one duplicate in the office of the clerk of the county wherein such home shall be located, and the same shall be recorded at length in said county clerk's office; and thereupon, such board of directors To be a body and their successors shall become a body politic and corporate. Such directors shall be elected in three classes, equal or as near equal as may be in number to each other respectively, to hold office for one, two and three years respectively, and until their respective successors shall be elected and qualified; and thereafter during the existence of such corporation, successors to such directors shall be elected by the board of directors at the annual meeting of such board in such manner as shall be provided by the articles of association, to hold office for three years and until their respective successors shall be elected and qualified. And in case of vacancy in such board by death, Vacancy in resignation or otherwise, the board of directors shall fill such board of divacancy by election for the unexpired term: Provided, That filled. all directors shall be citizens of the State of Michigan, and citizens. shall respectively, before they shall enter upon their duties, be approved by the Governor of the State of Michigan, and in Time of case of the failure of the Governor to approve or disapprove of approval by any such director for thirty days after notice of the election thereof he shall be deemed to have approved of such director. And in case the Governor shall disapprove of such director within the thirty days herein before provided it shall be the duty of the board of directors to call a new election for the purpose of filling any vacancy caused by the disapproval of the Governor. rectors, how Proviso as to of association SEC. 3. Such articles of association shall contain the name, What articles character and object of the corporation, which object shall be t to provide a home for the care and support of aged, infirm or indigent men or women; the place where the same is located, and the period for which it is incorporated, which shall not Number of directors. Powers of corporation. To hold property. Proviso as to exceed thirty years; the number of the board of directors, which shall not be less than five or more than thirty-five; the names of the original directors and the periods for which they are respectively elected and the manner in which the succeeding directors shall be elected; and such articles of association shall specify such other officers of the corporation as shall be deemed necessary and the time of holding the annual meeting of the corporation; and shall also specify the kind of security or securities in which the funds of the corporation shall be invested. SEC. 4. Such corporation shall have power besides the general powers of a corporation: First, To sue and be sued in the corporate name of such corporation and suit may be commenced against said corporation and process served thereon in the manner provided by section eight thousand one hundred and thirty-seven, third volume Howell's annotated statutes; Second, To take and hold by gift, grant, bequest, devise or otherwise, any real or personal property for the purposes mentioned in this act: Provided, That said corporation shall not time of hold hold any lands for a longer period than ten years, except such as may be necessary for the direct and reasonable use and convenience of its home; ing. May convey property. May erect buildings. To direct rules for manage Third, To sell, convey, lease, invest or otherwise use such property in such manner as it shall deem most conducive to its interests; Fourth, To erect and maintain from time to time such building or buildings as it shall deem expedient for the uses of such corporation; Fifth, To direct and prescribe general rules for the care and ment of home. management of such home, and for the admission and dismissal of inmates and the conduct of inmates therein; To employ matron, etc. To fix salaries of officers and employes. How funds to be used. Property to be exempt from taxation. Directors to make annual statement of affairs. Sixth, To appoint and employ matrons, overseers, nurses, physicians and such other officers and persons as may be deemed necessary and to dismiss the same at pleasure; Seventh, To ascertain and fix all salaries for all officers and employés: Provided, That the directors of such association shall not receive any compensation for services rendered by them either as board or otherwise. SEC. 5. All the funds of the corporation shall be faithfully and exclusively used for the purposes thereof as set forth in its articles of association, and shall be wholly used in this State. SEC. 6. The property of such association on which their home or institution buildings shall stand, and which is actually, wholly and necessarily used for such home or institution, shall be exempt from taxation. SEC. 7. Such corporation shall, on or before the first day of February in each year, make and exhibit a full statement of its affairs in duplicate, on oath of at least five (5) of its directors, which shall contain the name of the corporation and the place where it is located, the names of the board of directors of State. of such corporation, and their places of residence the description and value of all the real estate owned by said corporation, and the description and value of all the real estate actually and exclusively used for the purposes of the corporation; also a detailed statement of all other property, securities and effects belonging to such corporation and how and where the same is located or invested, and also a detailed statement of Statement to be deposited all its liabilities and both such duplicates shall be in office of deposited in the office of the Secretary of State, and the Secretary Secretary of State shall carefully examine such statements and if they shall be found to comply with the requirements of this section he shall file one of them in his office and shall transmit the other by mail to the clerk of the county in which such home shall be located; and the said county clerk shall thereupon file the same in his office: Provided, That the Secretary of State may at any Proviso as to time, when he shall deem it advisable, require such statement to be made. And for neglect to furnish and file such statement on or before the first day of February in each year, or at any other time when required by the said Secretary of State, within thirty days after service of notice of such requirement, the directors so neglecting shall be liable to a penalty of one Penalty for hundred dollars each, to be recovered by an action of debt in neglect to file the name of the people of the State of Michigan. And in case On failure of any such forfeiture or liability the Attorney General upon eral to proserequisition of the Secretary of State, shall prosecute and cute. recover the penalty herein before provided, and when recovered pay the same into the State treasury to the credit of the primary school fund. statement. statement. Attorney Gen of associa articles to be SEC. 8. The directors at their annual meeting may amend How articles such articles of association in such manner as shall be in tion may be accordance with the provisions of this act by a vote of not less amended. than two-thirds of all the directors. In case of such amend- Amended ment the directors shall within ten days thereafter file duplicate copies thereof, duly certified with the Secretary of State and the clerk of the county in which such institution is located, and such amendment shall be recorded at length in the said county clerk's office. filed in office of Secretary of State. directors. bond. SEC. 9. Each director of any corporation organized under Bond of this act, shall, before entering upon the discharge of his duties as such director, execute a bond in the penal sum of one thousand dollars, with two or more sureties to be approved Approval of by the probate judge or circuit judge in the county where said proposed home is to be located, for the faithful discharge of his duties as such director, and each of the other officers of any such corporation shall, before entering upon the discharge of his duties, execute a bond to be approved as above, in the penal sum of at least five thousand dollars, and in the penal sum of at least twice the amount, as found by the board of directors, that shall at any time be in his hands or under his This act is ordered to take immediate effect. Costs taxed in case of malicious prosесиtion. [ No. 53. ] AN ACT to regulate taxation of costs in malicious prosecution. SECTION 1. The People of the State of Michigan enact, That in all cases of malicious prosecution begun in this State, where the recovery is less than one hundred dollars, the total amount of costs taxed shall not exceed the amount of the verdict. Approved March 31, 1897. Section amended. To regulate of trees in highways. [ No. 54. ] AN ACT to amend section twenty-one (21), chapter seven (7), of act number three (3) of the public acts of eighteen hundred ninety-five (1895), approved February nineteenth, eighteen hundred and ninety-five (1895), entitled "An act to provide for the incorporation of villages within the State of Michigan, and defining their powers and duties." SECTION 1. The People of the State of Michigan enact, That section twenty-one (21) of chapter seven (7) of act number three (3) of the public acts of eighteen hundred and ninetyfive (1895), entitled "An act to provide for the incorporation of villages within the State of Michigan and defining their powers and duties," be and the same is hereby amended so as to read as follows: SEC. 21. The council may provide for and regulate the the planting planting of shade and ornamental trees in public highways, streets and avenues of the village, and for the protection thereof, and the trimming of all trees in or that overhang such highway, streets, or avenues, or which obstruct public lighting, and may light the streets and public places, and regulate the setting of lamps and lamp posts therein and protect the same. Approved March 31, 1897. |