June thirty, nineteen hundred seventeen, the sum of two hundred thousand dollars. SEC. 2. The several sums appropriated by the provisions How paid out. of this act shall be paid out of the State treasury to the treasurer of the Michigan Soldiers' Home at such times and in such amounts as the general accounting laws of the State prescribe, and the disbursing officer shall render his accounts to the Auditor General thereunder. SEC. 3. The Auditor General shall incorporate in the State Tax clause. tax for the year nineteen hundred fifteen the sum of two hundred thousand dollars, and for the year nineteen hundred sixteen the sum of two hundred thousand dollars, which when collected shall be credited to the general fund to reimburse the same for the money hereby appropriated. This act is ordered to take immediate effect. Approved April 1, 1915. [No. 36.] AN ACT making an appropriation for the Michigan Soldiers' Home for building and special purposes, for the fiscal year ending June thirty, nineteen hundred sixteen, and for the refunding of excess pension money, and to provide a tax to meet the same. The People of the State of Michigan enact: SECTION 1. There is hereby appropriated for the Michigan Soldiers' Home for building and special purposes for the fiscal year ending June thirty, nineteen hundred sixteen, for employes' dormitory building, extension of water mains, steam pipes and electric wiring, the sum of twenty-five thousand dollars. Amount appropriated. SEC. 2. The further sum of seven thousand eight hun- Further appropriation. dred thirty-one dollars and eighty-two cents, is hereby appropriated for the fiscal year ending June thirty, nineteen hundred sixteen, for the purpose of refunding excess pension money paid by the members and former members of the Michigan Soldiers' Home. SEC. 3. The several sums appropriated by the provisions How paid out. of this act shall be paid out of the general fund of the State treasury to the treasurer of the Michigan Soldiers' Home at such times and in such amounts as the general accounting laws of the State prescribe, and the disbursing officer shall render his accounts to the Auditor General thereunder: Pro- Proviso, excess pensions. vided, That the sum hereby appropriated for refunding of excess pension money to the members of the Michigan Soldiers' Home shall be paid to each such member entitled thereto upon warrants issued by the Auditor General upon vouchers presented to him and signed by the chairman pro tem. of the board of managers of the said Michigan Soldiers' SEC. 4. The Auditor General shall incorporate in the State tax for the year nineteen hundred fifteen the sum of thirty-two thousand eight hundred thirty-one dollars and eighty-two cents, which amount, when collected, shall be credited to the general fund to reimburse the same for the Number of Capital stock. AN ACT to provide for the incorporation and regulation of The People of the State of Michigan enact: SECTION 1. Any number of persons not less than five, de- SEC. 2. The persons proposing to form such corporation shall associate by signing articles of association in duplicate and acknowledge the same before any notary public or officer of this State, duly authorized to take acknowledgment of SEC. 3. Such articles of association shall state: (a) The names of the persons associating in the first instance and their respective residences; (b) The name by which such corporation shall be (c) The period for which the company is incorporated which shall not exceed thirty years; (d) The number of directors which shall not be less than five, nor more than eight, and the names of the directors (e) The place where the main office of the company shall be located, which shall be within the State of Michigan; SEC. 4. The amount of capital stock of any company or twenty-five thousand dollars, the par value of all shares of stock to be one hundred dollars. business. SEC. 5. Any company organized under the provisions of Kind of this act shall have the right to insure railway conductors, railway engineers and railway officials in an amount not exceeding five hundred dollars for loss of position arising from discharge or retirement, on such terms and conditions and subject to such rules and regulations as shall be prescribed in the by-laws of any such company, which by-laws shall be printed in full and constitute a part and portion of each policy or insurance contract issued. do business. securities. When deposit returned. SEC. 6. No company shall be incorporated under the pro- Capital visions of this act until the total amount of authorized cap- paid in. ital stock is subscribed for and until at least one-half of the total amount of authorized capital stock is actually paid. No Authority to such company shall be authorized by the Commissioner of Insurance to transact business in this State until it has deposited a sum equal to at least the total amount of the authorized capital stock of the company with the State treasurer of this State. Said deposit shall consist of bonds, stocks or Deposit of securities such as are required in accordance with the provisions of law governing the deposits of life insurance companies in this State. The deposit so required to be made with the State Treasurer shall be held for the security and protection of any person insured under the provisions of this act and if any such company shall go out of business, such deposit shall be returned in accordance with the provisions of the life insurance law of this State. SEC. 7. When the articles of incorporation of any such Articles, how company shall be executed, they shall be submitted to the Commissioner of Insurance for his approval. If the Commissioner of Insurance shall find that the articles conform to the provisions of this act, he shall thereupon approve same and endorse a certificate to that effect, and attach same to said articles. Upon the filing of said articles and the en- Where filed. dorsement of the Commissioner of Insurance, with the Commissioner of Insurance, and with the county clerk of the county in which the main office of the company is by its articles located, the persons executing such articles shall thereupon become a body corporate for the purposes set To become forth in this act, and shall have the right to carry on and body conduct the business of insurance as herein indicated. Any corporate. such company shall have the right to take over the business Reinsurance. of, or reinsure any other company, mutual, co-operative, or otherwise, conducting a business similar to that herein authorized. approved. directors. SEC. 8. The business and affairs of the corporation shall Board of be managed by the board of directors. The directors shall be chosen from among the stockholders annually at a meeting of the stockholders of said company to be held on the second By-laws. Officers. Service of process. Annual statement. Agent to procure certificate. Laws made applicable. Penalty. Wednesday of January each year, and shall hold office until their successors are elected and have qualified. SEC. 9. The directors of any company organized under the provisions of this act shall have power to enact by-laws for the management of the business of the company, which by-laws shall not be inconsistent with the provisions of this act. SEC. 10. The officers of any company organized under the provisions of this act shall be chosen from among the directors and shall consist of a president, one or more vicepresidents, a secretary and treasurer. The offices of secretary and treasurer may be held by one person. Service of process shall be made upon the president or secretary of the company; upon an attorney who shall be appointed for the purpose of receiving process or upon the Commissioner of Insurance. Each company organized under the provisions of this act, as a condition precedent to the renewal of an annual certificate to do business to be issued by the Commissioner of Insurance in accordance with the law governing insurance companies shall make and file in the office of the Commissioner of Insurance annually, such statement as is required by and in accordance with the provisions of act one hundred thirty-three of the Public Acts of nineteen hundred nine, which statement shall set forth the condition of business of such company up to and including December thirtyfirst of the preceding year. SEC. 11. It shall be unlawful for any person to act within this State as agent in receiving or procuring applications or in any manner directly or indirectly to aid in transacting the business of insurance permitted by this act, without procuring from the Commissioner of Insurance a certificate. of authority to be governed by the provisions of law in force relative to life insurance companies in the State. SEC. 12. Such provisions of act seventy-seven of the Public Acts of eighteen hundred sixty-nine, as amended, and of act two hundred thirty seven of the Public Acts of eighteen hundred eighty-one as are not inconsistent with, or in conflict with provisions of this act, are hereby made applicable to the operation of any company organized under the provisions of this act. SEC. 13. Any person violating any of the provisions of this act shall be deemed guilty of misdemeanor and upon conviction thereof shall be fined in a sum not more than five hundred dollars, or be imprisoned in the county jail not more than ninety days, or both such fine and imprisonment in the discretion of the court. Approved April 1, 1915. [No. 38.] AN ACT to provide for an average or pro rata rider clause to be attached to the Michigan standard fire insurance policy. The People of the State of Michigan enact: rata rider SECTION 1. Whenever any person, firm or corporation When pro shall make written application to any insurance company attached. authorized to do business within the State of Michigan to attach to any existing policy or to one to be issued by such company an average or pro rata clause, the latter shall have the right to issue and attach such average or pro rata rider clause but not otherwise. SEC. 2. Such application shall be made substantially in Application. the following form: policy number .hereby request that there be attached to Form. .....of the.......... Insurance Company the following pro rata or average clause, to-wit: "It is hereby agreed in case of loss, this policy shall attach in or on each building, division or location in such proportion as the values in or on such buildings, division or location bear to the aggregate value of the property insured." To the provisions of which.. agree in consideration of a reduced premium rate. form. SEC. 3. It shall not be necessary for all average or pro Language of rata rider clauses to be in the exact language used in section two of this act, but no such clause shall be attached to any policy unless the same shall be an exact duplicate of the clause recited in the application nor until the form thereof shall have been filed with and received the approval of the Approval Commissioner of Insurance. Approved April 1, 1915. of form. [No. 39.] AN ACT to amend the title and sections one and eight of act number one hundred twenty-five of the Public Acts of nineteen hundred nine, entitled "An act to provide for the incorporation and regulation of co-operative and mutual protective associations of railway conductors and engineers," approved May twenty-six, nineteen hundred nine. The People of the State of Michigan enact: tions amended. SECTION 1. The title and sections one and eight of act Title and secnumber one hundred twenty-five of the Public Acts of nine |