1999 Minnesota Statutes

     67A.01 Number of members required, property and 
  territory. 

    (a) It shall be lawful for any number of persons, not less 
 than 25, residing in adjoining townships in this state, who 
 shall collectively own property worth at least $50,000, to form 
 themselves into a corporation for mutual insurance against loss 
 or damage by the perils listed in section 67A.13. 

    (b) Except as otherwise provided in this section, the 
 company shall operate in no more than 150 adjoining townships in 
 the aggregate at the same time.  The company may, if approval 
 has been granted by the commissioner, operate in more than 150 
 adjoining townships in the aggregate at the same time, subject 
 to a maximum of 300 townships.  If the company confines its 
 operations to one county it may transact business in that county 
 by so providing in its certificate of incorporation.  In case of 
 merger of two or more companies having contiguous territories, 
 the surviving company in the merger may transact business in the 
 entire territory of the merged companies, but the territory of 
 the surviving company in the merger must not be larger than 300 
 townships. 

    HIST: 1967 c 395 art 8 s 1; 1971 c 135 s 1; 1975 c 15 s 1; 
 1999 c 53 s 1