« ForrigeFortsett »
in which such conservator, guardian, curator or committee was appointed, shall be effectual in law and equity to pass to the grantee or grantees therein all the right, title and interest of such insane person, spendthrift, drunkard, or incompetent therein. The court ordering the sale may authorize any person to act as auctioneer of the property, but the deed shall be executed by the conservator, guardian, curator or committee. The proceeding and practice and the powers of the court in such case shall be the same as near as may be, as is provided by law in cases of the application and proceedings by resident conservators to sell lands of their wards. § 44. The said Circuit or County Court may, in its discretion, require such conservator, curator, guardian, or committee to file a bond, with sufficient securities, conditioned for the faithful application of the money which may be received for any such property, for the benefit, and to the use of such insane person, spendthrift, drunkard or incompetent. § 46. Whenever real estate is about to be sold by virtue of the decree of any court in this State, in which any insane person, spendthrift, drunkard or incompetent, has an estate of homestead or dower, or any other interest or estate whatever, the conservator of such insane person, spendthrift, drunkard or incompetent, may petition the court wherein such proceedings are or may be pending, or the court appointing such conservator, for authority to assent in behalf of his ward to the sale of the homestead, dower, or any and all estate or interest of his ward in the real estate so sought to be sold; and if the court shall find that the interests of such ward will be conserved thereby, it shall be lawful for the court to enter an order so authorizing such conservator to assent to the sale, of the homestead, dower and any and all other estate or interest of his ward, in such real estate, or any part thereof, and said conservator shall then so assent in writing in the proceeding for such sale; whereupon it shall be lawful for the court wherein such proceeding to sell such real estate is, or may be pending to enter an order or embody in its decree a provision, directing such real estate to be sold free and clear of the homestead, dower. and any and all other estate and interest of such ward, in such real estate, or any part thereof; and the conveyance pursuant to such decree, shall be valid and effectual to convey to the purchaser the homestead, dower, and any and all other estate or interest of said ward, in and to such real estate so conveyed or any part thereof; provided, that before any disposition or distribution of the proceeds of such sale, the court shall ascertain the fair cash value of said homestead, dower, and any and all other estate or interest of such ward, in such real estate, which shall be paid over to his conservator, less any portion of the costs of proceeding equitably chargeable to his ward’s interest in such proceeds of such sale. § 47. Whenever the ward is the owner of an estate in dower, in any real estate, the conservator of such ward may petition the court in which the estate of his ward is being administered for authority to sell the ward’s said estate in dower in such real estate; and if the court shall find that the interests of such ward will be conserved thereby, or that it is to the best interests of said ward that said estate in dower of said ward be sold, it shall be lawful for the court to enter an order or decree so authorizing such conservator to sell the ward's estate in dower, in said real estate. The petition shall set forth the facts and circumstances on which the petition is founded and a particular description of the estate in dower of said ward sought to be sold. The petition shall be signed by the conservator and be verified by his affidavit. . § 48. If upon examination the court shall find that the conserva: tor has substantially set forth the estate in dower of the ward in said real estate and that it is for the best interests of the ward that his dower interest and estate in said real estate be sold, the court shall enter a decree for the sale of such estate in dower. 49. All such sales of the ward’s estate in dower in real estate shall be made and conveyances executed for the same, by the conservator applying for such order, and shall be valid and effectual against the ward, and all other persons claiming by or through him. In case of the death, resignation or removal of the conservator applying for an order of sale before conveyance is made, his successor shall proceed in the premises and make conveyance in the same manner as if he had originally applied for such order, which conveyance shall be good. valid and effectual. § 50. The court shall make no order for the sale of the ward's dower interest in said real estate under said petition, until the conservator shall have executed and filed an additional bond payable to the People of the State of Illinois, with at least two sufficient sureties, to be approved by the court, in at least double the value of the dower estate and interest, by said petition sought to be sold, conditioned for the due and faithful accounting for and distribution of the proceeds of such sale, which bond may be put in suit in the name of the People of the State of Illinois, to the use of any person or persons entitled to recover on a breach thereof, and damages may be assessed and proceedings had thereon as in other cases of penal bonds. § 51. Such sale shall be held at such time and in such manner as the court may direct, and the conservator shall make report of said sale to the court as soon as may be and upon the hearing of such report the court may approve the same and confirm the sale or disapprove the report and order the said dower estate or interest to be resold. § 52. The words “insane person,” as used in this Act, shall include every idiot, non compos, lunatic, feeble minded, distracted of mentally incompetent person. The word “spendthrift,” as used in this Act shall include every person, who, on account of excessive drinking. excessive use of drugs, gaming, idleness or debauchery, is incapable of managing and caring for his estate or so spends, wastes or lessens his estate as to expose himself or his family to want or suffering. The word “incompetent,” as used in this Act, shall include every person who by reason of any mental or physical incapacity or incompetency is incapable of managing and caring for his estate. The word “drunkard,” as used in this Act, shall include every person, who, on account of excessive
drinking of intoxicants is incapable of managing and caring for his estate, or so spends, wastes or lessens his estate, so as to expose himself or his family to want or suffering. § 53. If any conservator appointed pursuant to this Act or any other person interested in the ward or his estate, or any other person, shall state upon oath, to any County Court, that he believes that any person has in his possession or control, or has concealed, converted or embezzled, any goods, chattels, moneys or effects, books of account, papers or any evidences of debt whatever, or titles to lands belonging to the ward; or that he believes that any person has any knowledge or information of or concerning any indebtedness or evidences of indebtedness, or property, titles or effects, belonging to the ward, which knowledge or information is necessary to the recovery of the same, by suit or otherwise, by the conservator, and that such person refuses to give to the conservator such knowledge or information, the court shall require such person to appear before it by citation, and may examine him on oath, and hear the testimony of such conservator, and other evidence offered by either party, and make such order in the premises as the case may require. § 54. If any such person, so cited, refuses to answer such proper interrogatories as may be propounded to him, or refuse to deliver up such property or effects, or in case the same has been converted, the proceeds or value thereof, upon a requisition being made for that purpose by an order of the said court, such court may commit such person to jail until he shall comply with the order of the court therein. § 55. It shall be lawful for any person having a claim or demand against any person under conservatorship to file the same in the office of the clerk of the court appointing such conservator; which claim shall be itemized and give the date of each item, and be verified by the oath of the claimant, and, unless the conservator of the estate of said ward waives the issuance of process, the clerk of the court shall issue a summons, directed to the sheriff of the county where such conservator resides, requiring such conservator to appear and defend such claim at any day of any term of court, fixed by the court, not less than ten days nor more than thirty days from the service of such summons, whereupon or at such time thereafter as the court may fix, the court may proceed to hear the same, as in cases of claims against the estate of deceased persons, and to dismiss the claim, or allow the same, in whole or in part, or make any Order thereon, as may be just and equitable, and order the same to be paid by the conservator as he shall have funds applicable thereto: Provided, nothing herein shall be construed to abrogate any of the legal defenses of the ward according to law. Either party may demand a jury of six or twelve men, to try the issue, and it shall be the duty of the County or Probate Court when a jury is demanded to issue a venire to the sheriff of the county, to summon a jury to be composed of the numher demanded. When a claim is filed in the County or Probate Court against the estate of a ward and it appears on the trial thereof, that such claimant is indebted to such ward, the said court may give judgment against the claimant, therefor, and execution may issue thereon in favor of the conservator or said ward: Provided, nothing in this section shall exclude the jurisdiction of other courts. $ 56. Depositions of witnesses in all proceedings under this Act shall be taken in the same manner as near as may be, as is now or may ... hereafter be provided by law for the taking of the depositions of such witnesses in suits at law or in chancery. APPROVED June 28, 1919.
§ 1. Amends sections 3 and 5, Act of $ 5. Investment of surplus 1899. money.
§ 3. Capital—how invested
(SENATE BILL No. 372. APPRoved JUNE 28, 1919.)
AN ACT to amend sections 3 and 5 of an Act entitled, “An Act to incorporate and to govern casualty insurance companies and to control such companies of this State and of other states doing business in the State of Illinois, and providing and flaing the punishment for violation of the provisions thereof, and to repeal all laws now eristing which conflict therewith.” (Approved April 21, 1899; in force July 1, 1899, as subsequently amended.) SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly: That sections 3 and 5 of an Act entitled, “An Act to incorporate and to govern casualty insurance companies and to control such companies of this State and of other states doing business in the State of Illinois, and providing and fixing the punishment for violation of the provisions thereof, and to repeal all laws now existing which conflict therewith.” (Approved April 21, 1899; in force July 1, 1899, as subsequently amended), be amended to read as follows: § 3. No such corporation, for any of the purposes specified in this Act shall do business with a capital stock of less than $100,000 fully paid in, in cash, with an additional $50,000, fully paid in, in cash, for every kind of insurance, more than one, which it is authorized to do: Provided, that it may not do the business named in subdivision two (2) of section 1 hereof, on a capital of less than $200,000, fully paid in, in cash. Before any corporation commences business, its whole capital must be invested in such class of securities as are permitted by the laws of this State applying to life insurance companies; at least $100,000 worth of such securities aforesaid, approved by the Director of Trade and Commerce, shall be duly made or assigned to him, in trust for the purposes hereinafter mentioned. Said Director of Trade and Commerce shall hold such securities for the benefit and protection of the policy holders of the corporations, and so long as any such corporation continues solvent shals permit it to collect the interest of dividends thereon, and from time to time withdraw such securities, or any part thereof, on depositing with said Director of Trade and Commerce other securities of the kind heretofore named, and of equal value with those withdrawn. If such company shall at any time cause all of its unexpired policies to be paid or cancelled, and all its liabilities under such policies thereby be extinguished, then the Director of Trade and Commerce, on application of such company, under oath of its president or secretary, on satisfying him, by examination of its books and its officers, under oath, that all of its policies are so paid, cancelled or extinguished, shall deliver up to it such securities: Provided, that companies formed for the purpose of insuring live stock against death from any cause, injury or theft, shall only be required to have a subscribed capital of one hundred thousand dollars ($100,000), of which fifty thousand dollars ($50,000) shall be paid in, in cash, and shall only be required to make a deposit of twentyfive thousand dollars ($25,000) with the Director of Trade and Commerce before it shall commence business. But no such company shall expose itself to loss on any risk or hazard to an amount exceeding five per cent of its paid up capital, unless the excess shall be reinsured in some other responsible and reliable company authorized to transact business in this State. s
§ 5. Any corporation organized under these provisions may invest any surplus money in excess of its capital stock in such class of securities as are permitted by the laws of this State applying to life insurance companies.
APPROVED June 28, 1919.
CASUALTY COMPANIES. § 1. Amends section 12a, Act of 1899. § 2. Amends title of Act.
§ 12a. Procedure in determin-
(Hous E BILL No. 597. APPROVED JUNE 30, 1919.)
AN ACT to amend section 12a of an Act entitled, “... in Act to incorporate and to govern casually insurance companies and to control such companies of this State and of other states doing business in the State of Illinois, and providing and firing the punishment for violation of the provisions thereof, and to repeal all laws now eristing which conflict therewith,” approved April 21, 1899, in force July 1, 1899, and to amend the title of said Act.” SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly: That section 12A of an Act entitled, “An Act to incorporate and to govern casualty insurance companies and to control such companies of this State and of other states doing business in the State of Illinois and providing and fixing the punishment for violation of the provisions thereof, and to repeal all laws now existing which conflict there with.” approved April 21, 1899,