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148   DEPARTMENT OF FINANCE—INSURANCE BRANCH.

 

 

the provisions of this Act, and said company, institution or corporation shall thereupon have the same pokers and privileges in Manitoba as if the same were incorporated under the provisions of a statute of the province of Manitoba ; Provided, however, that the Lieutenant-Governor in Council may restrict such license in any manner that may seem desirable.

(2.) This section shall not apply to, or in any way affect any company, institution or corporation incorporated and now existing or hereafter incorporated, the powers and objects of which are the acquiring, purchasing, holding and receiving property, real or personal, for the use or uses of any particular congregation or congregations, or mission station or stations in connection with any church or religious denomination, or the lending of money on the security of real or personal estate, and with or without interest, for the purchase or erection of churches, chapels, manses or parsonages and buildings connected therewith for the use or uses of any particular congregation or congregations, or mission station or stations, in connection with any church or religious denonnivation ; and it shall not be necessary for any such company, institution or corporation to obtain a license authorizing or enabling it to exercise the powers or carry out the objects for which it has been or may hereafter be, incorporated or any of them ; Provided, that if such company, institution or corporation desires to exercise any other powers than those mentioned in this subsection. a license shall he necessary.

  1. Any insurance company incorporated as provided in the second section of this Act, may, upon complying with the requirements of this Act, apply for and obtain a license under the provisionsof this Act, empowering it to purchase real estate, and to loan and invest its moneys upon the securities set forth in this Act, to the extent permitted by the Act or charter of incorporation of the company :

  2. Any such license obtained by any such insurance company, within three months after the seventh day of July, in the year one thousand eight hundred and eighty-three, shall be deemed to have ratified and confirmed all previous acts of the company, and shall l,e construed as if such license had been granted before such company invested any money in this province ; saving, however, all investments which, on the said seventh day of July, had been questioned by proceedings commenced in any court of law in this province.

DOCUMENTS TO BE FILED.

  1. Before the issue of a license to any such company, institution or corporation, the company, institution or corporation shall file in the office of the Provincial Secretary (a) a certified copy of the act of incorporation or other instrument of association of the company ; (b) an affidavit or statutory declaration that the said company, institution or corporation is still in existence, and legally authorized to transact business under its Act of incorporation, or other instrument of association ; (e) a copy of the last auditor's report upon the finances of the company, institution or corporation ; ((I) a power of attorney containing the matters hereinafter mentioned from the company, institution or corporation to its chief officer or agent in the province or some other person resident and doing business in the province, under the seal, if any, of the company, institution or corporation, and signed by the president and secretary or other proper officers thereof, in the presence of a witness, who shall snake oath or affirmation as to the due execution thereof. The official positions in the company. institution or corporation, held by the officers signing such power of attorney, shall be established by the oath or affirmation of some person cognizant of the facts.

  2. Such power of attorney shall declare at what place in the province the chief agency, head office, or office of the attorney of the company, institution or corporation is, or is to be established, and shall expressly authorize the attorney to receive service of process in all actions, suits and proceedings against such company, institution or corporation in the province in respect of any liabilities incurred by the company, institution or corporation therein, and shall declare that service of process at the chief agency, or personally on the attorney at the place where such chief, agency, head office, or office of the attorney is established, shall be legal and binding on such company, institution or corporation, to all intents and purposes whatsoever.

  3. Whenever a company, institution or corporation licensed under this Act, changes its chief agent, attorney, head office or chief agency in Manitoba, the company, institution or corporation, shall file a power of attorney as hereinbefore mentioned, specifying the change, and containing a similar declaration as to service of process as hereinbefore mentioned.

 

NOTICE OF LICENSES.

 

  1. Every company, institution or corporation obtaining such license as aforesaid shall forthwith give notice thereof in the Manitoba Gazette, and in at least one newspaper in the municipality, city or place where the chief agency, head office, or office of the attorney of the company, institution or corporation is, or is to be established, of which four insertions in said Ga:Fttc and newspaper respectively shall be sufficient, and such notice shall state the name of the attorney so appointed as aforesaid, and when a new attorney shall be appointed under the provisions of this Act the name of such new atorney, and the like notice shall be given when such company, institution or corporation shall cease to carry on business within this province.

 

HEAL ESTATE.

 

  1. No company, institution or corporation, not incorporated under the provisions of the statutes of this province and not having obtained a license under this Act, except those nentioned in subsection 2 of section 2 of this Act, shall be capable of taking, holding or acquiring any real estate within this province or of exercising the powers mentioned in section 11 of this Act.


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