to account in due form of law, and that if the trust fund or estate shall be satisfactorily accounted for and delivered or properly secured, such surety shall be discharged from any and all further liability as such, for the subsequent acts or omissions of the trustee, conservator, guardian, assignee, receiver, executor or administrator, or other fiduciary, after the date of such surety being so relieved and discharged, and discharging such trustee, conservator, assignee, receiver, executor or administrator, or other fiduciary.

as lawful

(514) § 5203. SEC. 8. That any receiver, assignee, May include guardian, conservator, trustee, executor or administrator, or expenses. other fiduciary, required by law or the order of any court or judge to give a bond as such, may include, as a part of the lawful expense of executing his trust, such reasonable sum paid a company authorized under this act so to do, for becoming his surety on such bond, as may be allowed by the court in which he is required to account, or a judge thereof, not exceeding, however, one per centum per annum of the amount of such bond; and in all actions or proceedings the party entitled to recover costs or disbursements may include therein such reasonable sum as may have been paid such company for executing or guaranteeing any bond, undertaking, recognizance or other obligation therein.

signing bond

(515) § 5204. SEC. 9. That no company, having signed No company such a bond, undertaking or obligation, shall be permitted to shall deny its deny its corporate power to execute such instrument or incur corporate such liability in any proceedings to enforce liability thereunder.

Sec. 10 repeals "all acts and parts of acts inconsistent with this act, in so far as they conflict herewith."

power.

tax.

(516) § 5205. SEC. 11. Every such corporation shall, as Annual a condition precedent to the renewal of an annual certificate report. by the commissioner of insurance, make and file in the office of the state treasurer annually, in the month of January of each year, on oath or affirmation a statement of the number of guarantees, bonds, covenants or agreements, which it has signed and issued, and the gross amount of premiums received or secured thereon during the year then terminated, and shall pay into the state treasury a specific tax of two per Specific cent on the gross amount of all premiums received in money or securities in this state during the said year, and in ascertaining the gross amount of all premiums received or secured, the return premiums on cancelled guarantees, bonds, covenants or agreements shall be deducted, and shall not be included in the term "gross amount of premiums," which said specific tax may be recovered from any corporation neglecting or refusing to pay the same, in any court at the suit of this state, and it shall be the duty of the state treasurer to give his receipt for all moneys paid into the state treasury under the provisions of this act: Provided, however, That Proviso. when, by the statutes or rulings of the insurance department premiums.

return, etc.,

Further proviso.

Further proviso, deductions.

of any state, a tax is laid or levied upon the amount of the gross receipts of premiums received, upon any company or ganized under the laws of this state, and doing business in such state, which amount of gross receipts shall include return premiums, then the corporations from that state doing business in this state under this act, shall be taxed upon the amount of gross receipts for premiums, without excluding the cancellation or return premiums: Provided further, That all companies transacting any reinsurance business in any manner shall pay the above tax upon the original premium received by the reinsured company on that portion of the risk reinsured: Provided further, Said reinsuring company may deduct from such premium that portion of such premiums upon which the reinsured company has paid the above two per cent tax.

Am. 1913, Act 281.

Standard form of policy.

PART III.-MISCELLANEOUS PROVISIONS.

CHAPTER X.--STANDARD INSURANCE POLICY.

An Act to provide for the adoption and use of a standard form of fire insurance policy and to repeal act one hundred forty-nine of the public acts of eighteen hundred eighty-one, as amended by act thirty-eight of the public acts of eighteen hundred eighty-nine.

[Act 277, P. A. 1905.]

The People of the State of Michigan enact:

(517) SECTION 1. No fire insurance company shall issue fire insurance policies on property in this state other than those of the standard form herein set forth, except as follows:

First, A company may print on or in its policies its name, location and date of incorporation, the amount of its paid up capital stock, the names of its officers and agents, the number and date of the policy, and if it is issued through an agent, the words, "This policy shall not be valid until countersigned by the duly authorized agent of the company at ...

Second, A company may print or use in its policies printed forms of description and specifications of the property insured;

Third, A company insuring against damage by lightning may print in the clause enumerating the perils insured against the additional words "also any damage by lightning, whether fire ensues or not," and, in the clause providing for an apportionment of loss in case of other insurance, the words "whether by fire, lightning or both;"

Fourth, The blanks in said standard form may be filled in in print or writing:

Fifth, A company shall print upon policies issued in compliance with the preceding provisions of this section the words "Michigan Standard Policy;"

Sixth, A company may write upon the margin or across the face of a policy or write or print in type not smaller than long primer upon separate slips or riders to be attached thereto, provisions adding to or modifying those contained in the standard form, or may attach a slip or rider providing that no cancellation of the policy shall be made by the company at any time when the property insured is endangered by forest fires or other conflagrations; and all such slips, riders and provisions must be signed by the officers or agent of the company so using them.

Said standard form of policy shall be plainly printed and no portion thereof shall be in type smaller than long primer · and shall be as follows:

No....

$.

(Corporate name of company or association; its principal place or places of business.)

In consideration of the stipulations herein named and of dollars premium does insure

...dollars, to the following

loss or damage by fire, except as hereinafter provided, to an amount not exceeding.. described property while located and contained as described herein, and not elsewhere, to-wit:

(Description of property insured.)

This company shall not be liable beyond the actual cash value of the property at the time any loss or damage occurs, and the loss or damage shall be ascertained or estimated according to such actual cash value, with proper deduction for depreciation however caused, and shall in no event exceed what it would then cost the insured to repair or replace the same with material of like kind and quality; said ascertainment or estimate shall be made by the insured and this company, or if they differ, then by appraisers, as hereinafter provided; and the amount of loss or damage having been thus determined, the sum for which this company is liable pursuant to this policy shall be payable sixty days after due notice, ascertainment, estimate and satisfactory proof of the loss have been received by this company in accordance with the terms of this policy. It shall be optional, however, with this company to take all or any part of the articles at such ascertained or appraised value, and also to repair, rebuild or replace the property lost or damaged with other of like kind and quality within a reasonable time on giving notice, within thirty days after the receipt of the proof herein required of its intention so to do; but there can be no abandonment to this company of the property described.

This entire policy shall be void if the insured has concealed or misrepresented, in writing or otherwise, any material fact or circumstance concerning this insurance or the subject thereof; or if the interest of the insured in the property be not truly stated herein; or in case of any fraud or false swearing by the insured touching any matter relating to this insurance or the subject thereof, whether before or after a loss.

This entire policy, unless otherwise provided by agreement indorsed hereon or added hereto, shall be void if the insured now has or shall hereafter make or procure any other contract of insurance, whether valid or not, on property covered in whole or in part by this policy; or if the subject of insurance be a manufacturing establishment and it be operated in whole or in part at night later than ten o'clock, or if it ceased to be operated for more than ten consecutive days; or if the hazard be increased by any means within the control or knowledge of the insured; or if mechanics be employed in building, altering or repairing the within described premises for more than fifteen days at any one time; or if the interest of the insured be other than unconditional and sole ownership; or if the subject of insurance be a building on ground not owned by the insured in fee simple; or if the subject of the insurance be personal property and be or become incumbered by chattel mortgage; or if, with the knowledge of the insured, foreclosure proceedings be commenced or notice given of sale of any property covered by this policy by virtue of any mortgage or trust deed; or if any change, other than by the death of an insured, take place in the interest, title or possession of the subject of insurance (except change of occupants without increase of hazard) whether by legal process or judgment or by voluntary act of the insured, or otherwise; or if this policy be assigned before a loss; or if illuminating gas or vapor be generated in the described building (or adjacent thereto) for use therein; or if (any usage or custom of trade or manufacture to the contrary notwithstanding) there be kept, used or allowed on the above described premises, benzine, benzole, dynamite, ether, fireworks, gasoline, Greek fire, gunpowder exceeding twenty-five pounds in quantity, naptha [naphtha], nitro-glycerine or other explosives, phosphorus or petroleum or any of its products of greater inflammability than kerosene oil of the United States standard (which last may be used for lights and kept for sale according to law but in quantities not exceeding five barrels, provided it be drawn and lamps filled by daylight or at a distance not less than ten feet from artificial light); or if a building herein described, whether intended for occupancy by owner or tenant, be or become vacant or unoccupied and so remain for ten days: Provided, A loss shall occur on the property insured while such breach of condition continues or

such breach of condition is the primary or contributory cause of the loss.

This company shall not be liable for loss caused directly or indirectly by invasion, insurrection, riot, civil war or commotion or military or usurped power, or by order of any civil authority, or by theft, or by neglect of the insured to use all reasonable means to save and preserve the property at and after a fire or when the property is endangered by fire in neighboring premises; or (unless fire ensues, and, in that event, for the damage by fire only) by explosion of any kind, or lightning; but liability for direct damage by lightning may be assumed by specific agreement hereon.

If a building or any part thereof fall, except as the result of fire, all insurance by this policy on such building or its contents shall immediately cease.

This company shall not be liable for loss to accounts, bills, currency, deeds, evidences of debt, money, notes or securities; nor, unless liability is specifically assumed hereon, for loss to awnings, bullion, casts, curiosities, drawings, dies, implements, jewels, manuscripts, medals, models, patterns, pictures, scientific apparatus, signs, store or office furniture or fixtures, sculpture, tools, or property held on storage or for repairs; nor, beyond the actual value destroyed by fire, for loss occasioned by ordinance or law regulating construction or repair of buildings, or by interruption of business, manufacturing processes, or otherwise; nor for any greater proportion of the value of plate glass, frescoes and decorations than that which this policy shall bear to the whole insurance on the building described.

If an application, survey, plan or description of property be referred to in this policy it shall be a part of this contract, and a warranty by the insured as to material facts.

In any matter relating to the procuring of this insurance no person, unless duly authorized in writing, shall be deemed the agent of this company.

This policy may by a renewal be continued under the original stipulations, in consideration of premium for the renewed term: Provided, That any increase of hazard must be made known to this company at the time of renewal or this policy shall be void.

This policy shall be cancelled at any time at the request of the insured; or by the company by giving five days' notice of such cancellation. If this policy shall be cancelled as hereinbefore provided, or become void or cease, the premium having been actually paid, the unearned portion shall be returned on surrender of this policy or last renewal, this company retaining the customary short rate; except that when this policy is cancelled by this company by giving notice it shall retain only the pro rata premium.

If, with the consent of this company, an interest under this policy shall exist in favor of a mortgagee or of any person or