Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1875-03-13
CHANGERS MUTUAL LIFE INSUR-
ANCE COMPANY.

CHANGERS MUTUAL LIFE INSUR-
ANCE COMPANY.
1t is proposed to establish for the
benefit of Changers and their families
Mutual Life Insurance Company,
under the above title, and upon the
following cheap and simple, though
safe plan; to wit:
l. 1t is proposed to organize this
Company when the names of Eve hun
dred persons are enrolled, and no fee
te be paid until after the organiza-
ton.
2. A person to be eligible for mem
bership in this company, must be a
member of a grange, in good standing,
of ordinary good health, and of tenn
perate habits, and so recommended by
their grange.
3. Upon the receipt of FIVE hundred
names of persons who wish to become
members, the organization shall be
perfected by the selection of fifteen d.
rectors each from a different grange,
who shall select from their number a
President, Secretary and Treasurer,
the election of said directory to be
made annually thereafter by the men,
bers of the Company, who may vote
through their grange in the form OF
written proxy or otherwise.
4. Immediately after organization,
each member will be notified through
the officers of their grange, and re-
quired to forward or pay over to the di-
rectory the sum of three dollars and
fifty cents, receiving receipt for the
same.
5. When each member has paid this
amount up to the number of five hun
bred, and the printed or engraved forms
have been procured, each member shall
receive in place of these receipts poll
cies ofinsurance on their life to the
amount of one thousand dollars, pay
able within three months after their
death to whom they may have
named in said policy.
6. Upon the death of a member,
which must be reported to the officers
of their company by the officer of their
grange, each living member must pay
within three months a proportion of
the said insurance, Tor instance, while
there are five hundred members. each
will pay two dollars when one thous-
and. each will pay one dollar; when
two thousand, each will pay fifty cents,
etc.
Z. In addition to this fee, upon the
death of one of their number, each
member will be required to pay annu-
allyinto the treasury one dollar through
the officers of their grange.
s. This one dollar paid annually,
and three dollars of the money paid
when organized shall be entered on the
books to the credit of the member
paying it, and retained as permanent
or surplus fund, and invested in bonds
or otherwise, as the directory may
think for the interest of the company,
the fifty cents paid with the three dol
lars to be used for the purchase of a
charter, books, blanks and other ex-
penses.
g. Each grange represented, will
have separate account kept for the
benefit of their members and will be
credited by all monies paid by them,
and charged with any dues they fail to
pay when called upon by the officers of
this COMPANY.
10. The principal of the permanent
or surplus fund can only be used to
pay the policy of a deceased member,
when the living members fail to pay
up the required amount within the
proper time, and then only enough to
supply the deficiency.
III. This deficiency must be charged
to the delinquent members, and when
enough is so charged to consume the
amounts that they have paid into the
treasury, they forfeit their right to
their policy, and all benefits connect
ed with or arising out of this company,
but they may have themselves again
reinstated by paying up the full
amount charged to them.
II. The expenses of the company,
over and above the fifty cents paid by
each member must be paid out of the
interest of the permanent or surplus
fund, and in no case shall the princi-
pal be used for that purpose.
13. No officer shall receive any sal
airy for one year after organization, and
thereafter no officer shall receive over
two dollars for each days actual SER
vice in the company, unless otherwise
ordered by vote of two thirds of all
of the members.
IA. 1t shall be the duty of the Sec
rotary of a grange, upon the death Of
one of their members who is member
of this company, to notify immediate
ly thereafter the Secretary of this COM
pany of the fact, stating the date of
death, the cause, and other circumstan-
ces connected with it, also who is the
properly authorized person to receive
the insurance money. This statement
must also be endorsed by the Master
and other officers of the grange, and
stamped with their seal before being
sent to the officers of this company.
10. 1t shall be the duty of the Sec
rotary of this company, Immediately
after receiving this report, to notify
the Master or Secretcry ofevery grange
represented in this company, of the
same, informing them of the amount
required from each member, in order
70 pay the policy of said deceased
brother or sister.
16. 1t shall then be the duty of the
Master or Secretary of each grange, to
forward Immediately through their
treasurer or otherwise, the amount re-
quired, to the President of this compa-
ny, who shall pay it over to the treas
urer, taking receipt for the same.
II. Immediately after one thousand
dollars have been received, the same
shall be paid to the person authorized
to receive it, and the policy cancelled,
and should the officers of this company
not receive the required amount with
in three months, then the deficiency
must be supplied from the permanent
or surplus fund, and the delinquent
members charged with the same upon
their separate accounts.
IS. The members or policy holders
through their own chosen directors
shall have exclusive control in the
management Of the affairs of this COM
pany, the same being Independent of
the State or national organization.
10. The foregoing constitution, or
rules and regulations, may be amend
ed, changed, or added to, at any time
after organization. by vote of two
thirds Of the policy holders.
The foregoing explains itself to the
grangers of our country and has been