Greenbrier independent. [volume] (Lewisburg, Va. [W. Va.]) 1859-1980, 1897-05-06
Important 60 Policy Holders,

~ HoiuerH.
Last December w. III. Leach, of thi.
county, who holds a policy in the Farm
ers' Home Fire Insurance Company
had his barn burned. He at once noti.
fled the Company. an assessment was
made on the policy holders aud the loss
made good l. Mr.. Leach agreeing that
the Company might rebuild the barn
which was done. Among those in
sured in the Company at the time, and
upon whom call was made for his pro
rata assessment, was A. NJ. Shankljn,
or Monroe county. Mr.. Shanklin did
not pay the assessment made, and has
not paid to this day. In January or
February of this year Mr.. Shanklin's
house was burned, of which he notified
the Company and called upon it to
make good his loss. He was informed
that he had lost the benefit of his insur-
ance by reason of his failure to meet
his assessment for the Leach loss. The
following section of the bylaws shows
the authority of the Company for this
action:
Sec. 8. Any policy-holder sustain
ing loss shall at once notify the Secre-
tary of the Company in writing, stat
ing the cause and extent of the loss.-
The Secretary shall at once ascertain
and proceed to adjust the loss by max
ing full statement to the Executive
committee of the facts in the case and
the amount due the party sustaining
the loss, which shall be endorsed by
him as satisfactory. If sufficient funds
in the Treasury to pay the loss or dam
age they shall instruct the Treasurer to
pay 1T at once, but if not, the Secretary
shall be empowered to make a pro rata
assessment upon the members of the
Company, and shall notify each men,
Der of the assessment, stating the
amount due and the purpose for which
1t Is to be applied, such notice NAV. be
delivered personally or by mail. If by
mail, service shall be deemed complete
when deposited in the postofice at the
home office Of the Company, and must
be paid to the Treasurer within 40 DAYS
from the date Of notice, and upon the
failure to pay the same within the time
required, the delinquent member shall
stand suspended, and during such sus-
pension for non-payment of assess
ments the said delInquent's policy shall
be void, and the Company is not to be
responsible for any loss that NAV &C.
cur during such delinquency. If the
delinquent fails to pay the assessment
within 60 days of the notice of assess
ment the Company shall have recourse
on his premium obligation"
Mr.. Shanklin claims that he did not
get the notice of assessment, and there
fore did not know that an assessment
had been made, The Secretary of the
Company declares and Will testify
should it become necessary that he no.
titled Mr.. Sharklin twice by mail in ac-
cordance with the requirement of the
foregoing section of the bylaws.
AT meeting of the Board of Direc-
tors held here recently, Mr.. Logan, of
Monroe, appearing for Mr.. Shanklin-
the Board, after a careful consideration
of the case, decided that the enforce
ment of the bylaw above quoted is alb
solutely essential to the continued ex-
istence of the Company, inasmuch as
the Company has no means lat least for
the presently of meeting it's losses ex-
cept by the prompt payment of assess
ments made when loss occurs. The
Board was anxious to pay him but
thought that ruinous precedent would
be set by failure to enforce said by
law. The Secretary informs us that
there are some other policy holders who
have not paid the assessment made to
meet the Leach loss. Under this rul-
ing of the Board these delinquents
have no insurance so long as they are
in arr ears. Mr.. Shanklin has sued the
Company.