certain the amount of such loss or damage, and in case of the inability of the parties to agree upon the amount of such loss or damage, the claimant shall choose a disinterested party and the company shall choose a disinterested party, who shall constitute a board of arbitration to settle such loss, and in case these parties cannot agree, they shall choose a third party to act with them, and said board of arbitration shall have power to administer oaths and examine witnesses and determine all matters in dispute, and the decision of such bcard shall be final. § 7. MAY CLASSIFY PROPERTY—ASSESSMENTS.] The company formed under the provisions of this act, may classify the property insured, at the time of issuing the policy thereon, under different rates, corresponding as near as may be, to the greater or less risk from fire or loss which may attach to each several building or property insured. Whenever the amount of any loss shall be ascertained, and there are not sufficient funds in the treasury to pay such loss or damage, the president or secretary shall convene the directors of such company, who shall make assessments on the property insured, sufficient to cover all unpaid losses, taking in connection the rate of premium under which it may have been classified. It § 8. DUTY OF SECRETARY IN CASE OF ASSESSMENT.] shall be the duty of the secretary, whenever such assessment shall have been completed, to immediately notify every person composing such company, by letter sent to his usual postoffice address, of the amount of such loss or losses, 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 sixty days from the date of such notice. $9. MAY BRING SUIT FOR NON-PAYMENT OF ASSESSMENT.] Suits at law may be brought against any member of such company who shall refuse or neglect to pay any assessment made upon him under the provisions of this act, and the directors of such company so formed who shall wilfully neglect to perform the duties imposed upon them under the foregoing sections of this act shall be liable, in their individual capacity, to the person sustaining such loss. § 10. LIMITATION OF INSURANCE.] No company formed under the provisions of this act shall insure any property outside of the limits of the township or townships in which the said company is located, nor shall they insure any property other than detached dwellings and their contents, farm buildings and their contents, school houses and the furniture therein, church *buildings and the furniture therein, live stock only on the premises or running at large, and hay or grain ia bin or stack, nor shall they insure any property within the limits of any in corporated city or town, except such property as is located upon lands actually used for farming purposes. § 11. ARTICLES HOW AMENDED.] Any insurance company organized under the provisions of this act, may, at any regular annual meeting of its members, by a majority vote of those present, amend its articles of association so as to include in its organization other adjoining townships not included therein, not exceeding in the aggregate twenty-five townships. Amended articles of association must be signed, executed, approved and filed the same as original articles. § 12. DIRECTORS—WHEN AND HOW CHOSEN.] The directors of such company, so formed, shall be chosen by ballot, at the annual meeting thereof, which shall be held on the first Tuesday after the first Monday in January in each year, unless otherwise determined by a majority of the members of such company, and every person insured shall have one vote, but no person shall be allowed to vote by proxy at such election. § 13. SECRETARY ΤΟ PREPARE STATEMENT-WHERE FILED. It shall be the duty of the secretary of every company as aforesaid, to prepare a statement, showing the condition of such company on the day preceding the annual election, which statement shall contain the amount insured, the number of polcies issued, and to whom, and the amount insured by each policy, and other matters pertaining to the interests of such company, which statement shall be filed in the office of the township clerk of the township in which the office of such company is located, and a copy thereof shall be filed in the office of the auditor of the county in which such office is located, on or before the fifteenth day of January in each year, and which statement shall also be read to the members at their annual meeting. $ 14. MEMBERS MAY WITHDRAW-HOW-SECRETARY TO KEEP WITHDRAWAL BOOK.] Any member of such company may withdraw therefrom at any time by giving ten days' notice to the president, in writing, or to the secretary thereof, and by paying his share of all claims existing at the expiration of the ten days against such company; and the directors, or a majority thereof, shall have power to annul any policy by giving ten days' notice in writing, to that effect to the holder thereof. And it shall also be the duty of the secretary, whenever any member of such company shall withdraw from his membership therein, to notify every other member thereof, of such withdrawal by recording the same at full length in a separate book, to be kept by him in his office for that purpose, called the "withdrawal book." $ 15. NON-RESIDENTS MAY BECOME MEMBERS.] Nonresidents of any township in this state, owning property therein may become members of any company founded under this act, and shall be entitled to all rights and privileges appertaining thereto, except that it shall not be lawful for any such non-resident to become a director of such company, unless he beat the time of such membership, a resident of a township adjoining a township or townships in which said company has been formed under the provisions of this act. § 16. BY-LAWS.] Any company so formed may adopt such by-laws for its regulation, as are not inconsistent with the provisions of this act, and may therein prescribe the compensation of its officers. § 17. TERM OF EXISTENCE] No company formed under this act shall continue for a longer term than thirty years. § 18. REPEAL.] All acts and parts of acts in conflict herewith are hereby repealed. Approved March 6, 1893. CHAPTER 107. RELATING TO ORGANIZATION OF FIRE INSURANCE COM PANIES. AN ACT Relating to the Organization of Fire Insurance Companies. § 1. CAPITAL STOCK.] Every fire insurance company here. un 1901, after organized under the laws of this state, shall have a capital 04.237 stock of at least one hundred and fifty thousand ($150,000) dollars. ६ § 2. DEPOSIT WITH STATE TREASURER.] Before such insurance company shall be permitted to enter upon business in this state, it shall have its entire capital stock paid in, in 1901, cash, and shall have deposited with the state treasurer, to be held as a guarantee to protect its policy holders, at least one hundred thousand ($100,000) dollars in United States bonds, the bonds of the State of South Dakota, or in county or munic ipal bonds thereof to be approved by the governor. 1.237 § 3. PREMIUMS AND LOSSES.] Any company upon failure, or that for any reason whatsoever shall cease doing businees, shall return to its policy holders their pro rata share of the unearned premiums, and where there be unsettled losses they shall be settled pro rata in like manner. § 4. NOT APPLICABLE-WHEN.] This act shall not apply to county or township or state mutual fire insurance companies organized to do business within this state. § 5. REPEAL.] All acts or parts of acts in conflict with this act are hereby repealed. Approved February 28, 1893. CHAPTER 108. [S. B. 215.] PUBLISHING INSURANCE STATEMENTS. AN ACT Relative to the Compensation for Publishing Insurance State ments. Be it Enacted by the Legislature of the State of South Dakota: § 1. PUBLICATION OF STATEMENTS-COMPENSATION.] Every insurance company doing business in this state must transmit to the state auditor a statement of its condition and business for the year ending on the preceding thirty first day of December, which shall be rendered on the first day of January in each year, or within one month thereafter, except that foreign insurance companies shall transmit their statements of business, other than that taken in the United States prior to the following first day of May. Such statement must be published at least three times in a newspaper of general circulation, printed and published in each judicial district of the state in which the insurance company shall have an agency, and a duplicate thereof upon which shall be endorsed the name of the attorneys on whom process of law can be served as required by this act, shall be filed in the office of the register of deeds of the county wherein the agency may be established, but the provisions of this section as to the appointment of attorney shall not apply to companies organized within this state. Statements for publication shall be made out on blanks, furnished by the state auditor, and the state auditor's certificate of authority for the company to do business in this state shall be published in connection with said statement of such company doing business in this state. Proof of publication, to-wit: The printer's affidavit of the fact shall be filed with the state auditor, in all cases which affidavit shall state that [said] insurance company has paid such newspaper two-thirds of the authorized rate for publishing legal notices, and that the full amount named inures to the sole benefit of the publisher or publishers thereof, and that no agreement or understanding for the division thereof has been made with any person, and that no part thereof has been agreed to be paid to any person whomsoever and that every affidavit of publication shall state in plain terms the full amount authorized herein has been charged and collected for such publication. Provided, The state auditor shall select three newspapers of general circulation published in each of the judicial circuits, from which said company shall select one in which said statements shall be published. The proof of publication, herein required, shall be filed with the state auditor within four months from the time of the filing of the annual statement. This law is intended to define the lawful rate for the publication of insurance statements. Nothing in this act shall apply to any fraternal or benevolent life insurance association having a grand lodge or like governing body located in this state. § 2. REPEAL.] All acts and parts of acts in conflict with this act are hereby repealed. § 3. EMERGENCY.] Whereas, there is no adequate law governing this subject, an emergency is hereby declared, and this act shall be in full force and effect after its passage and approval. Approved March 6, 1893. IRRIGATION. CHAPTER 109. [H. B. 242.] ARTESIAN WELLS. AN ACT to Provide for the Sinking of Artesian Wells and for the Levying of a Tax to Pay the Expenses Thereof; and to Define the Duties of Certain Officers Connected Therewith. Be it Enacted by the Legislature of the State of South Dakota: § 1. PETITION FOR LOCATION OF WELL-DUTY OF ENGINEER OF IRRIGATION.] Whenever a petition signed by not less than fifty (50) resident freeholders of any county in this state of whom fifteen (15) shall be each the owner of not less than eighty acres of land located on any natural watercourse on which an artesian well is sought to be located shall petition the engineer of irrigation for the location and establishment of an artesian well, it shall be the duty of such engineer of irrigation to personally investigate and view out the course and extent of such natural watercourse for the purpose of determining the practicability and advisability of such well. And if in his judgment it is found practicable and advisable, he shall lo cate and establish an artesian well on such watercourse at some point where it will render the greatest benefit to the lands to be effected thereby, and shall make and file with the county auditor of the county wherein such well may be located a full report of his proceedings in locating and establishing any such |