The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1897-04-25

| point another, and if such two arbitra-
| tors fail to agree upon the amount OF
such loss, then they shall select third
diSintereSted person to act with them.
! Such arbitrator SO appointed shall have
| full authority to examine witnesses.
and to do all other things necessary to
| the proper determination of the amount
| of loss sustained by the claimant, and
shall make their award in writing to the
President of such company, and such
! award SO as aforesaid made shall be
| final as to the amount of the loss sus-
| tanned.
The pay of the said committee shall be
W per day for each days services so rem
dered, and cents for each mile neces-
Sarily Travelled in the discharge of their
duties, which shall be paid by the claim
ant unless the award of such committee
shall exceed the sum offered by the COM
pany in liquidation of such loss or dam
age, in which case such expense shall be
paid by the company.
Section T. When the amount of any
loss shall have been ascertained, which
exceeds in amount the cash funds of the
company, the President shall convene
the directors of said company, who shall
make an assessment upon all the prop
erty to the amount for which each sew
eral piece of property is insured, taken
in connection with the rate of premium
under which it may be classified.
| Section ID. 1t shall be the duty of the
| Secretary whenever such an assessment
shall have been made, to Immediately
notify every person holding a risk in
such company, personally, by an agent,
or by letter directed to his usual Post
office address, of the amount of such
loss and the sum due from him, as his
! share thereof, and of the time and to
whom such payment is to be made;
but such time shall not be less than
thirty days, nor more than ninety days
from the date of such notice.
Section IA. An action may be brought
against any member of such company
who shall neglect or refuse to pay any
assessment made upon him by the pro-
visions of this Act, or other liabilities
due the company and the directors of
any company so formed who shall will
fully refuse or neglect to perform the
duties imposed upon them by law or by
| the bylaws of the company shall be
liable in their individual capacity to the
may also be brought and maintained
against any such company by members
thereof for losses sustained if payment
| is withheld after the amount of such
losses have been determined, and is due
by the terms of the policy.
Section -. 1t shall be the duty of the
Secretary to prepare an annual state
ment showing the condition of such
company on the 31st day of December,
| and present the same at the annual
meeting.
Section 16. Any member of such COM
pany may withdraw therefrom by sur
rendering his policy for cancellation at
any time while the organization con-
tinues. the business for which it was or
ganized, by giving notice in writing to
the Secretary thereof, and paying his
share of all claims that may exist
against such company; provided, that
the company shall have power to can
eel or terminate any policy by giving the
INSURED five days written notice to that
effect, and returning to him any excess
of premium he may have paid during
the term of the policy, over the cost of
his insurance, as measured by the rates
of standard fire insurance companies
doing business in this State.
Section II. 1t shall be the duty of the
President and Secretary, within thirty
days after the first day of January in
each year, to prepare, under their own
oath, and transmit to the Insurance
Commissioner a statement of the con-
dition of the company on the last day of
the month next preceding the annual
meeting. If, upon examination, the In
surance Commissioner finds that such
company is doing business correctly, in
accordance with the provisions of this
Act, he shall thereupon furnish the COM
pany his certificate, which shall be
deemed authority to continue business
during the ensuing year. subject, how
ever, to the provisions of this Act. For
such examination and certificate the
company shall pay 81. Each company
shall pay, at the time of organization,
50 to the Insurance Commissioner, for
all services which he shall render in the
matter of organization.
Section IS Any such company may be
proceeded against and dissolved in the
manner and upon the same conditions
as provided in case of other insurance
companies incorporated in this State
Section 10. All Acts and parts of Acts
in conflict with this Act are hereby re-
pealed.