State ex rel. Clapp v. Federal Investment Co.
Supreme Court of Minnesota
Quo warranto on relation of Moses E. Clapp, attorney general, against the Federal Investment Company. The respondent claims to be a corporation organized in this state. •Its business is carried on by the admission of members. A person on becoming a member is required to pay $5 admission fee, and $2 monthly dues each month in advance, so long as he continues to be a member.
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Quo warranto on relation of Moses E. Clapp, attorney general, against the Federal Investment Company. The respondent claims to be a corporation organized in this state. •Its business is carried on by the admission of members. A person on becoming a member is required to pay $5 admission fee, and $2 monthly dues each month in advance, so long as he continues to be a member. This $5 and 15 per cent, of the monthly dues go to pay ■agents’ commissions, and expenses of the business. Another 15 per cent, goes into a reserve fund. The balance is called a maturity-fund, and, as often as $100…
1Opinion of the CourtMitchell, J.
The question in this case is whether the respondent, is a corporation of the kind or kinds referred to in Laws 1885, ch. 184, and as such subject to its provisions. To bring a corporation, within this act, it must be (1) an insurance company (2) transacting the business of life, casualty, or endowment insurance (3) upon the-co-operative or assessment plan. This is perfectly apparent from both the title and the first section of the act. If any of its provisions apply to corporations of any other kind, they would clearly not be embraced within the subject expressed in the title. The very…
2Cases cited1 opinion
- Briggs v. McCulloughCalifornia Supreme Court · 1869
3Cited by19 opinions
- Curtis v. New York Life InsuranceMassachusetts Supreme Judicial Court · 1914
- Fox v. SwartzSupreme Court of Minnesota · 1952
- Spellacy v. American Life Ins. Assn.Supreme Court of Connecticut · 1957
- Banker's Mutual Casualty Co. v. First National BankSupreme Court of Iowa · 1906
- Metropolitan Police Retiring Association, Inc. v. Walter N. Tobriner, Board of Commissioners for the District of ColumbiaCourt of Appeals for the D.C. Circuit · 1962
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