2005 Minnesota Statutes - 67A.28 — Number of members and property required, territory and types of insurance.

     67A.28 Number of members and property required, 
  territory and types of insurance.  


    The incorporators of a farmers mutual fire insurance 
 company shall not be less than 25 in number and owning in the 
 aggregate movable farm property worth at least $50,000, located 
 anywhere in this state.  Such company may insure like property 
 anywhere in this state against the perils of fire, lightning, 
 explosion, earthquake, theft, vandalism, collapse of bridges, 
 upset, overturn, collision, riot, riot attending a strike, civil 
 commotion, aircraft, vehicles, smoke, breakage of glass, weight 
 of ice, snow or sleet, freezing, leakage of water or other 
 substance, electrical power interruption or electrical breakdown 
 from any cause, and as to livestock against loss or damage by 
 electrocution by electrical currents artificially generated, 
 attack by dogs or wild animals, drowning, accidental shooting, 
 loading or unloading, collapse of buildings or straw or hay 
 stacks, or collision or overturn of conveyances, and 
 consequential losses as a result of damage from any of the 
 perils listed except public liability.  


    HIST: 1967 c 395 art 8 s 28; 1971 c 522 s 1