thereof, shall forthwith convene the directors of such company, whose duty it shall be when convened to appoint a committee of not less than three disinterested members of such company to ascertain the amount of such damage or loss. If in either case there is a failure of the parties to agree upon the amount of such damage or loss, the claimant may appeal to the judge of the county court of the county in which the office of such company is located, whose duty it shall be to appoint three persons as a committee of reference, who shall have full authority to examine witnesses and to determine all matters in dispute and shall make an award in writing to the president of such company, and such award shall be final; the pay of said committee shall be two dollars ($2) per day for each day's service so rendered, and four cents for each mile necessarily traversed in the discharge of their duties, which shall be paid by the claimant, unless the award of said committee shall exceed the sum offered by the company in liquidation of such loss or damage, in which case said expenses shall be paid by the company. [As amended by act approved May 10, 1887. In force July 1, 1887. L. 1887, p. 202. 95. Assessments. §12. Whenever the amount of any loss shall have been ascertained, which exceeds in amount the cash funds of the company, the president shall convene the directors of said company, who shall make an assessment upon all the property to the amount for which each several piece of property is insured, taken in connection with the rate of premium under which it may be classified. 96. Notice of assessment. § 13. It shall be the duty of the president, whenever such assessment shall have been made, to immediately notify every person composing such company, personally, by an agent or by letter sent to his usual post office address, of the amount of such loss, and the sum due from him as his share thereof, and of the time when and to whom such payment is to be made; but such time shall not be less than thirty nor more than ninety days from the date of such notice. 97. Suits. § 14. Suits at law may be brought against any member of such company who shall neglect or refuse to pay any assessment made upon him by the provisions of this act; and the directors of any company so formed, who shall wilfully refuse or neglect to perform the duties imposed upon them by the provisions of this act, shall be liable, in their individual capacity, to the person sustaining such loss. Suits at law may also be brought and maintained against any such company, by members thereof, for losses sustained, if payment is withheld after such losses have become due. 98. Annual statement. $15. It shall be the duty of the secretary to prepare an annual statement, showing the condition of such company on the thirty-first day of December, and present the same at the annual meeting. 99. Withdrawal from company. § 16. Any member of such company may withdraw there from by surrendering his policy for cancellation, at any time while the company continues the business for which it was organized, by giving notice in writing to the secretary thereof, and paying his share of all claims then existing against said company: Provided, that by the withdrawal of any such member, the number of the members remaining in the company shall not be reduced below the orig. inal number of corporators, or that the assets will not be reduced below the amount at the time of the organization: Provided, further, that the company shall have power to cancel or terminate any policy by giving the insured notice to that effect. 100. Report to auditor-certificate-fees. § 17. It shall be the duty of the president and secretary of every such company on the first day of January of each year, or within one month thereafter, to prepare, under their own oath, and transmit to the auditor of public accounts, a statement of the condition of the company on the thirty-first day of December then next preceding, in such form as the auditor may direct. If, upon examination, he is of the opinion that such company is doing business correctly, in accordance with the provisions of this act, he shall thereupon furnish the company his certificate, which shall be deemed authority to continue business the ensuing year, subject, how[*612] ever, to subsequent provisions of this act. For such examination and certificate the company shall pay $1. Each company shall pay, at the time of organization, $10 for the auditor's services, all of which shall be paid into the State treasury and applied to the insurance fund. 101. Dissolution. § 18. Any such company may be proceeded against and dissolved in the manner and upon the same conditions as provided in case of other insurance companies incorporated in this State. 102. Companies formed under act of 1872. § 19. Any township insurance company formed under an act entitled "An act to incorporate and govern mutual fire insurance companies in townships," approved April 3, 1872, may, with the written consent of two-thirds of the members, accept the provision of this act, and thereupon shall be governed by its provision. Before any such company shall be entitled to the benefits thereof, the directors or a majority of them shall file with the auditor of public accounts the declaration provided for in section 2 of this act. DISSOLUTION OF INSURANCE COMPANIES. AN ACT in regard to the dissolution of insurance companies. [Approved February 17, 1874. In force July 1, 1874.] 103. Involuntary dissolution. SEC. 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That if the auditor of State, upon examination of any insurance company incorporated in this State, is of the opinion that it is insolvent, or that its condition is such as to render its further continuance in business hazardous to the insured therein, or to the public, or that it has failed to comply with the rules, restrictions or conditions provided by law, or has exceeded, or is exceeding its corporate powers, he shall apply by petition to a judge of any circuit court of this State to issue an injunction, restraining such company, in whole or in part, from further proceeding with its business, until a full hearing can be had, or otherwise as he may direct. It shall be discretionary with such judge either to issue said injunction forthwith, or to grant an order for such company, upon such notice as he may prescribe, to show cause why said injunction should not issue, or to cause a hearing to be had on complaint and answer, or otherwise, as in ordinary proceedings in equity, before determining whether an injunction shall be issued. He may in all such cases make such orders and decrees, from time to time, as the exigencies and equities of the case may require, and in any case, after a full hearing of all parties interested, may dissolve, modify or perpetuate such injunction, and make all such orders and decrees as may be needful to suspend, restrain or prohibit the further continuance of the business of the company. [See S$ 23, 25. 104. Voluntary dissolution. § 2. When a majority, in number, or interest, of the members or stockholders of any insurance company incorporated in this State, desire to close its concerns, they may apply by petition to the circuit court of the circuit in which the company is located, setting forth in substance the grounds of their application; and the court, after due notice to all the parties interested, may proceed to hear the matter, and for reasonable cause decree a dissolution of the corporation; and corporations so dissolved shall be deemed and held extinct, in all respects as if their charters had expired by their own limitation, subject, however, to the provisions hereinafter prescribed. 105. When charters extinct, § 3. The charters of all insurance companies incorporated in this State, which, either from neglect or by vote of their members or officers, or in obedience to the decree of any court, have ceased, or shall hereafter cease, for the period of one year, to transact the business for which they were organized, shall be deemed and held extinct in all respects as if they had expired by their own limitation; and the circuit court shall have authority, upon application, by the petition of the auditor of State, or of any person interested, to fix, by decree, the time within which such companies shall close [*613] their concerns: Provided, that this section shall not be construed to relieve any such company from its liabilities to the assured or any of its creditors. 106. Continued as to creditors, etc. § 4. Insurance companies whose charters expire by their own limitation, or become forfeited by non-user, or are dissolved by decree of court, or otherwise, shall, nevertheless, be continued bodies corporate for the term of two years after such expiration, forfeiture or dissolution, for the purpose of prosecuting and defending suits by or against them, and of enabling them gradually to settle and close their concerns, to dispose of and convey their property, and divide their capital stock and assets, but not for the purpose of continuing the business for which they were organized, 107. Appointment of receiver -- his powers. § 5. When the charter of any such insurance company expires, is forfeited, or annulled, or the corporation is restrained from further prosecution of its business, or is dissolved, as hereinbefore provided, the court, on application of the auditor, or of a member, stockholder or creditor, may at any time before the expiration of said two years, appoint one or more persons to be receivers, to take charge of the estate and effects of the company, including such securities as may be deposited with the auditor or treasurer of State, and to collect the debts due, and property belonging to it, with power to prosecute and defend suits in the name of the corporation, or in their own names, to appoint agents under them, and do all other acts necessary for the collection, marshaling and distributing of the assets of the company, and the closing of its concerns; and when necessary for the final settlement of its unfinished business, the powers of such receivers may be continued as long as the court deems necessary therefor. 108. Duties of receiver. § 6. The receiver shall pay all debts due from the company, it the funds in his hands are sufficient therefor, and if not he shali distribute the same ratably among the creditors who prove their debts, in such manner as the court may direct, and receivers may be authorized by the court to sell, convey and dispose of, and convert into money, any of the securities or assets of the company, for the purpose of paying such debts, and distributing such funds. If there is a balance remaining after the payment of the debts, the receiver shall distribute the same among those who are justly entitled thereto, as members, stockholders, or otherwise, or their legal representatives. 109. Receivers to report to auditors. 7. Receivers of insurance companies, appointed as aforesaid, shall report to the auditor of State, annually, in such manner as he shall prescribe, on or before the first day of January, and as much oftener as he may direct, and such reports, or abstracts therefrom, may be incorporated into his annual report on insurance. 110. Compensation and expenses. 8. The compensation of receivers, and their expenses, shall be determined by decree of court, but shall not exceed the costs of court, and five per cent of the amount collected of any of the assets of the company. 111. Practice. 9. The mode of summoning parties into court, the rules of practice, course of procedure and powers of courts, in cases arising under this act, shall be the same as n ordinary proceedings in equity in this State, except as herein otherwise provided. AN ACT to give contiguous territory the right to become incorporated with Township Insurance Companies. [Approved May 31, 1881. In force July 1, 1881. L. 1881, p. 101. *112. May increase to six townships. SEC. 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That it shall be lawful for any township insurance company, already organized or hereafter to be organized, having less than six political townships in its organization, to accept or receive into its said organization one or more adjoining congressional or political town. ships: Provided, however, that such organization shall not, in any event, embrace more than six such townships. *113. Contiguous territory. § 2. Any number of persons, not less than ten, who, collectively, shall own property of not less than fifteen thousand dollars in value, which they desire to have insured, residing in any congres ional or political township, which shall not already be in some township insurance company, may petition any township insurance company, already organized (to which said town ship may be contiguous) praying to have said township added to and embraced in said township insurance company. Said petition shall be accompanied by the written consent of a full majority of the then policy-holders in said company, owning not less than two-thirds of the insurance represented by the policies of said company, consenting to the prayer of said petition. Upon the receipt of such petition, accompanied by such consent, the board of directors of said company may, by vote, accept and receive into said organization such township so petitioning. If such township so petitioning shall be so received and accepted by such township insurance organization, the secre tary of such township insurance company shall at once so notify the auditor of public accounts, stating the name of the township so added and the date the acceptance was so made *114. Receiving other township. 3. The accepting or receiving of any such township, as aforesaid, shall in no way impair the obligations of said township insurance company, or that of the policy-holders or members thereof *115. Township received. § 4. From and after the date of such acceptance by such township insurance company, said township so received shall, to all intents and purposes, be a part and parcel of such township insurance com. pany, the same as though embraced therein in its original organization. CORPORATIONS FOR FURNISHING LIFE INDEMNITY OR PECUNIARY BENEFIT TO WIDOWS, ETC. AN ACT to revise and amend an act entitled "An act to provide for the organization and management of corporations, associations or societies, for the purpose of furnishing life indemnity or pecuniary benefits to widows, orphans, heirs, relatives and devisees of deceased members, or accident or permanent disability indemnity to members thereof," approved June eighteen, eighteen hundred and eighty-three, in force July one, eighteen hundred and eighty-three, and to amend the title thereof. [Approved June 16, 1887. In force July 1, 1887. L. 1887, p. 204.] *116. Change of style. SEC. 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That the title of an act entitled "An act to provide for the organization and management of corporations, associations or societies, for the purpose of furnishing life indemnity or pecuniary benefits to widows, orphans, heirs, relatives and devisees of deceased members, or accident or permanent disability indemnity to members thereof," approved June eighteen, eighteen hundred and eighty-three, and in force July one, eighteen hundred and eighty-three, be and the same is hereby amended so as to read as follows: "An act to provide for the organization and management of corporations, associations or societies for the purpose of furnishing life indemnity or pecuniary benefits to the beneficiaries of deceased members, or accident or permanent disability indemnity to members thereof," and that the said act be, and the same is hereby, amended and revised so as to read as follows: *117. Organization-purposes of corporation. SEC, 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly. That corporations, associations or societies for the purpose of furnishing life indemnity or pecuniary benefits upon the death of a member, to the widows, heirs, relatives, legal representatives or the designated beneficiaries of such deceased member, or for the purpose of furnishing accident or permanent disability indemnity to members thereof, and where members shall receive no money as profit, and where the funds for the payment of such benefits shall be secured, in whole or in part, by assessment upon the surviving members, may be organized, subject to the conditions hereinafter provided. *118. Who may incorporate-statement to be made. 2. Any five or more persons, citizens of the United States, a majority of whom shall be bona fide citizens and voters of this State, may associate themselves together as a body corporate, for which purpose they shall make, sign and acknowledge, before any officer authorized to take acknowledgments of deeds in this State, a certificate of association, in which shall be stated the name or title by which such corporation, association or society shall be known in law; the location of its principal business office (which office must be located in this State); the name and residence of the incorporators; the object of the corporation, with its plan of doing business clearly and fully defined; the number of its directors, trustees or managers, and the names of those selected to serve |