The Advocate and news., 1899-03-15
House Bill No. ;357.

AN ACT to provide for mutual hail insur-
ance.
Be 1t enacted by the Legislature Of the State
of Kansas:
Section /. That any number of persons,
not less than fifty, residing in this State,
may form an Incorporated company under
the provisions of this act for the purpose
Of mutual insurance Of the growing crops
of its members against loss or damage by
hail.
Section O. Such persons 80 desiring to in
corporate shall file In the office Of the SUI
perintendent of insurance, a statement
signed by all the incorporatOrs, stating their
purpose of forming company for the trans
action Of the business OF insurance as eX-
pressed in the first section OF this act, which
statement shall also contain a copy OF the
charter adopted by them, also copy Of the
by laws proposed to be adopted by them.
1t shall then be the duty of the superin-
tendent Of insurance to furnish the cOrpOr-
alton certificate, which shall be their au-
thority to commence business and Issue
policies, and the same may be used In evil
dence for or against such corporation; for
said examination and certificate, the COM
pany shall pay ten dollars.
Section g. Companies organized under the
provisions of this act, may issue policies ON
growing crops, against loss or damage by
hail. All persons desiring insurance, snail
make application on blanks furnished by
the company, and shall pay the full amount
Of the premium to the company in cash or
by secured note as shall be required by the
bylaws Of said company All persons so
insured shall be deemed members OF the
company. In case the whole amount OF
such premium shall be insufficient to pay
all losses sustained after paying the neces-
sary expenses in any one year, the sufferers
Insured by such company shall receive their
propOrtionate share of the funds realized
from such premiums in full satisfaction Of
such losses, and no member shall ever be lia-
bic to the company or to any other person
for more than the premium which was paid
by him when making his application. Pro-
vided, that should there be a cash surplus of
not less than ten per cent Of the total pre-
miumS In the cOmpanyS possession, after
all losses and expenses are paid, all In ex-
cess Of five per cent Of such premiums shall
be prOrated back to the members in pro-
portion to the premiums paid.
Section 4. In companies organized under
the provisions Of this act, the number Of di-
rectors shall not exceed Is, who shall be
chosen from the members Of the company.
OF those chosen at the first election, one
third shall be chosen for one year. one third
for two years, and one third for three years,
or until their successors are elected and
qualified At each annual meeting Of the
company, number equal to one third Of
the whole number of directors shall be
chosen for three years to fill the places OF
those whose term Of office expires. A ma
jority Of the board Of directors shall be a
quorum for the transaction Of business. Va
Cancies In the board shall be filled by the
remaining members until the next annual
meeting.
Section 5. The annual meeting Of the
members shall be held on the first Thursday
after the first Monday in January of each
year, at the principal Office Of the company
and every member shall be entitled to as
many votes as there are directors to be
elected and shall cast the same in person.
them among the same or a. less
number of candidates to be elected, or con-
centrating them upon one candidate as he
may think fit, and plurality shall elect.
Section 6, The directors shall, at their an
nual meeting, elect from their number q
president, vice president and treasurer; and
they shall also select a secretary, who may
or may not, be a member Of the company,
all Of whom shall hold their Office for one
year, or until their successors are elected
and qualified.
Section z. The directors shall possess the
usual powers and be subject to the usual
duties Of directors thereof, and may make
such bylaws and regulations, not inconsisC-
emit with the constitution or this act, as may
be deemed necessary for the management Of
It's affairs, and may prescribe the duties OF
It's officers and agents, and fix the compen- |
sation for the same, and may alter and |
amend its bylaws at any annual meeting of
the board of directors by majority vote |
Of the whole number of directors. They |
shall also fix the rates OF insurance, and |
membership fees, II any are charged.
Section s. The annual meeting Of the |
board of directors shall be held on the day |
the annual meeting Of the MEM |
Oers OF the company when practicable, and |
shall not be later than five days thereafter |
'or the election Of It's officers and the trans |
action of such other business as may be nee |
essary. The board Of directors may meet |
1t such times as may be designated by the |
bylaws of the company.
Section 9. The board OF directors may pro- !
vide for an executive committee Of such |
lumber OF its members as they may see fit. |
ind they may delegate to them such powers |
md duties as they think necessary.
Section TO- All policies issued by compa-
HES organized under the provisions of this |
lct shall expire on the first day Of April in |
he wear following that In which they were |