The Republican journal. [volume] (Belfast, Me.) 1829-current, 1897-03-25

| thereof and inserting the words secular dave,
30 that said section, as amended, shall read az
follows:
Section l. Every loan and building assooia.
ton doing business In this state shall semi
| annually on the last secular days of April and
October make a return signed and sworn to by
| Its SECRETARY OF its monthly capital dues paid
In by It's share holders during the six months
preceding each Of said Days. exclusive Of
Said return shalll be made to the treasurer OF
state on or before the second Mondays Of May
and November, and for wilfully making false
return, the secretary forfelts not less than five
The treasurer OF such association shall pay to
tho treasurer Of state q tax on account Of such
dues, of one-fourth OF one per cent a year ON
the amount 80 returned
[Approved Mar. I'll
AN ACT relating to Fraternal Beneficiary
Organizations.
SECT, l. A fraternal beneficiary association
is hereby declared to be g corporation. society
| or voluntary association, formed or organized
and carried on for the sole benefit Of its mem
bers and their beneficiaries, and not for
profit. Each association shall have lodge
system, with rituahadc form of work and rep
resentative form of government, and shall
make provision for the payment OF benefits IN
case Of death, and may make proy!sion 70. the
porary or permanent physical disability, either
as the result Of disease, accident or old age,
provided the period in life at which payment
OF physical disability benefits on account of
| old age commences, shall not be under seven.
t. years, subject to their compliance with its
constitution and laws. The fund from which
the payment OF such benefits shall be made,
and the fund from which the expenses Of such
association shall be betrayed shall be derived
from assessments or dues collected from its
members. Payments of death benefits shall be
to the families, heirs, blood relatives, afl
anced husband or affanced wife of, or to per-
| sons dependent upon the member; Such asso
shall be exempt from this provisions OF insur-
| ance laws OF this state, except as herein pro-
vided and no law hereafter passed shall apply
to them unless they bc expressly designated
therein.
SECT. = 6even or more persons. resident Of
the state desiring to form a fraternal bcneh-
oiary corporation for the purposes above pro-
vided, and having signed an agreement there
for, declaring therein the purposes of such
corporation, may organize as such In tho man
ner provided in sections one, two and three Of
such corporation shall have all the powers,
privileges and immunities and be subject to
a the liabilities named in said section three.
SECT. 8. The presiding officer, treasurer and
Il majority Of the directorssor other officers,
shall forthwith make, sign and swear to a oerti-
fcate setting forth a true copy ofthe agreement
and declaration of the purposes OF the associ-
alton. with the names OF the subscribers thereto,
the date OF the first meeting, and the success y
sive adiournments, II any, and shah submit
such certificate and the records of the corpor-
shall make such examination and require such
evidence rs he deems necessary; and If It
appears that the purposes of the corporation
conform to law, he shall certify his approval
thereof, and The certificate shah then Be filed
by said officers in the office OF the secretary of
| state, who, upon payment OF fee OF five dol
lars, shall cause the same with the endorse
rents, to be recorded, and shall thereupon issue
d certificate in the following form
STATE OF MAINE.
of the subscribers to the agreement OF assoeia-
ton shall be insertedl. have associated thorn
selves with the intention of forming q corpora
ton under the name of {here the name of the
corporation shall be inserted), for the purpose
here the purpose declared In the agreement
of association shall be inserted), and have
compiled with the provisions of the statutes
of this state i'll such case made and provided,
ms appears from the certificate of the officers
of the corporation duly approved by the in
| surance commissioner and recorded in this
Office; now therefore, there the name of the
secretary shall be inserted), secretary of the
state of Maine, do hereby certify that said
| here the names of the subscribers to the agree.
uent Of association Shall be inselted), their
| associates and successors, are legally organized
and established Us and are hereby made an
existing corporation under the name of there
| the name OF the corporation shall be insertod)
with the powers, rights and privileges, and
subject the limitations, duties and restrictions
which by law appertain thereto Witness my
official signature hereunto subscribed, and the
Din these aag blanks the day. month the a Ssa[ year
execution of the certificate shall be inserted
The secretary shall sign the name and cause
| the seal of the state TO be thereto affixed, and
such certificate shall be conclusive evidence Of
| the existence of such corporation at the date OF
| such certificate. He shall cause a record OF
| such certificate to be made.
| SECT. 4. Any such corporation may hold al
any one time, as d death fnnd belonging to the
| benehciaries of anticpated deceased members
| an
a general or unlimited membership, ar
| amount not exceeding in the aggregate, one
| assessment from each limited class or division
of its members; provided that nothing in this
section shall be held TO restrict such fund to less
than twenty five thousand dollars
SECT. 5. No corporation organized under the
| provisions of this act shall commence to tic
| business or issue any certificate until it has
| presented to the insurance commissioner ant
received his certifcatiun that it has obtaine &C
not less than five hundred bona Ide appllca
tions for membership. For until it has depOsi
ted with the treasurer OF state at least one
! thousand dollars az q part OF Its emergency
| fund, which shall be held and applied in ac
cordance with the provisions of section six OF
chapter two hundred thirty of the public
laws of eighteen hundred and ei9hty-nlne as
amended. All such companies or associations
hereafter organized or Incorporated under the
laws of this state shah also comply with al
provisions of section six of said chapter.
SECT. 8. No charter granted under the pro
visions of this act shah be valid after one yeal
from its date unless the organization has beer
completed and business begun Hereunder
And when any domestic corporation has dis
continued business for the period of one yea
its charter shall become null and void
SECT. Z. No such corporation shall rein
sure with or transfer its membership celtif
Gates or funds to any organization, unless th'
said contract of transfer or reinsurance is frs
submitted to and approved by two thirds
vote of the members of each association o.
society present ct meetings called to considel
the same, OF which meetings written OF printed
notice shall be mailed to each certificate
holder at least thirty days before the date flNet
for said meeting, nor unless the said contrac
of transfer or reinsurance is first submitted t.
and approved by the insurance commissioner
SECT 8. Amy fraternal beneficiary corpo
ration existing under the laws of this state
and now engaged III transacting business q
herein defined, may reincorporate under th'
| provisions of this act provided, that nothin!
In this act contained shall be construed as re
quiring any such corporation to Ieincorporate
and any such corporation may continue to ex
! ercise all the tsshts, powers aud privilege