Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1901-03-23

,Ht."' L. "iit ,tsS, Hslhent or pcriodica
than one thousand dollars Tha ~ ies
: &C. cn,nm.Ssit Ter shan amman, ,'iSuF
February. certify to the treasi,re,, Il
Sta.n ,..e MINIMUM amount ~ - "
fund required TO be kept on deoosit' t y, ~
,IraSuiy py each asSocia' ION dol -, ~ M
ness under this act. If said 9-e niSi
ton shall neglect for sixty 'fI 5at
any cours il this state. then Tho 1t, u
| treasurer shall convert into mor,u sd IL
said securities, and forthwith satisfv a. ~
Judgment. and said association shiIl 'u ,'t
| transact any further BUSINESS uniii 40
! deposit is restored. When any s'n. saie
/ ISOLATION shall discontinue businoss" as
Jus ace of the supreme judicial cont a., ~,
'ippoint receiver or agent to adininiste,
| WI ch shall he used. less comnen.n ,uiu
not to exceed five per cent, as sich cn,,r
or JUSTICES may a.iow the rrc.Iar "
agent; first. in the payment of aror,,,' ~
mortuarv or Indemnity claims unon ~.
tIficates or policies, or if insufic;an, :
pay sucii claims in fun they shah he
pa.,, pro rata: second, if a balance We
iuaIns after tnc payment of such H..
such balance to be d!stributnd 70 ~
notuc,S at cert tilcate' then IN torca Nv,
rata. in accordance with the total mort
uary payments of said members. afte
first paying all expenses incident To siIc,
distribution If. upon the thirty-.irst ia
IF december of any year, the emrrpcnry
or reserve fund of any such association is
found To he less than The amount of one
assessment or periodical call unon nj
mo ,ncmners thereof said assnc;n,;nn
shall within SIX months thereafter col
lcct from is members sum sufficient
To bring said emergency or reserve fund
up to one assessment or periodical car:
unun all its members, and dcposit thn
amount with the state treasurer TO The
credit of said fund.
Section - No such association shall
re-inSurc with or transfer its member
ship certificates or funds To any organi-
cation, unless the said contract of trans
fer. or rc-inSu.lnce is first submitted to
and "pproved by Il two-thirds vote of the
members Of each association present at
meetings called to consider the same of
which meetings written or printed notice
shall he mailed to each certificate holder
at least thirty days before the date fixed
for sand meeting. nor unless the said con-
tract or transfer or Reinsurance is frs
submitted to and approved by the in
surancc commissioner. The members OF
lratcrnal beneficiary ASSOCIATIONS shat
not vote by proxy.
Section j. Fraternai beneficiary asso-
Citations organized under the laws of an
other stat" or country which were trans
acting business in this state as herein
defined. on the twcnt y-cignth day OF T. eb-
ruary, eighteen hundred and eight mine.
or which subsequently thereto have been
legally admitted To transact business in
shall report when requested To the in
SuranCc commissioner may continue such
business; subject to the provisions of this
act. y fraternal beneficiary aSsociat .ou
which was not transacting business in
thus state on the twenty-eighth day of
February. eighteen hundred and ninety
nine, and which has not since been legal
Il admitted to transact business therein
and which may hereafter desire 10 H., 50.
shall frs; obtain a license therefor from
the insurance commissioner. Before re
CeivinS such license it shall file with the
a duly certified copy of its
Il
copy of its constitution or laws. Certi-
led ny its secretary or corresponding Of
iiCer, Il power Of attorney to the com.
missioner. as hereinafter provided: a
urder oath OF the pICSiden;
and SECRETARY, ar corresponding officers,
in the form required by the commis-
sicne:, "f its husine IS for The proceed
ing year; certificate from tn. proper
official in its home state or country. that
the company is lhgally orsa niZcd and tina
similar associations "f This state may -"
to transact business IN said
state or country; a copy OF its appfca-
ton and policy or certificate. which must
show that benefits are provided for by
assessments upon persons holding SIM
liar contracts. and snail furnish the com
missioner with such other information as
ne may deem necessary to Il proper OK
hlbit OF its business and standing ana
plan of working, and II ne deems II en-
pedicnt he may license such association
- do business IN this state III accordance
with the provisions OF this act; provided,
however, that no license shall be issued
10 any such company unless il shall nave
adopted and have in force mortuary as
,ossment rates which are not lower than
hose now indicated as necessary by the
fraycrn1l congress mortality
5thIcr. ANY such association upon filing
he papers herein required shall pay the
commissioner twenty dollars
Section 10. Zach such association now
Icing y hereafter admitted to do
,uSincsS within this state, ard NO
\, in IL
state. and not being organized under the
avs OF this state. shall appoint IN VIII
ug the Insurance comm isSioner ana his
successors in office to be It's true and
process in any action or proceeding
igaIns: it shall be served. and in such
writing shall agree that any lawiu prog.
.Ss against it which is served on sdiG
attorney shall he of the same legal force
md validity as If served upon the aSso-
.iation, and that the authority snail con
niue in force so long as any liability re
mains outstanding in this state. COPIES
If such appointment. certified by said IN
,IIranCc commissioner, snail be deemed
;ufficien: evidence thereof, and shall be
admitted in evidence with the same force
mi erect as the original thereof might
% admitted. Service upon such attorney
shall be deemed sufficient service upon
-uch association; When legal process
against any such association Is server
lp1n said insurance commissioners. he
hall Immediately notify the ASSOCIATION
# such service by letter. prepaid ana di-
ectcd to its secretary or corresponding
,ffccr and shall within two days after
such scrvic" forward in the same man
Tor a copy of the process served on aim
q such officer. The plaintlii IN such
process 50 served shall pay To tn" 1nSuf~
,ncc commissioner at the time OF such
service Il fee of two dollars, which snail
% recovered ~ him rs. part OF the tax
,be costs. if he prevails in the suit.
Section L. No certificate issued by any
association trans acting bisincSS uf'',v
his act shall be valid or legal which snail
e. conditional upon an agreement or VI
icrstanding that the beneficiary shaii pa
he dues and assessments. or eithcf Oh
hem for sad member. Every call tor
,avmcn. Nv the policy or certificate hold
RS shall distinctly state the purpose ot
M. anne. No part of the money colief'-
Il fey rortuary or indemnity pufioSes
n for The emergency or reserve tii"t
hall he 'iSed for cxI enses; PROVIDED tiiat
INV such association now transdctin"
business in this state and whose LAWS
provide for and which is now using Such
I1ndS for expenses may continue so u 90
M not to exceed the amount named Tor
bat purpose in such "XiStltlS laws.
Section r. Any association authorized
~ transact business as defined in this act
nav employ paid agents III soliciting buS-
noes b,It no person shall act as such
,crut until the association or ITS author
zed manager has filed with the insurance
"A certificate certifying that
,1lch person has been appointed as the
cont of the association. Upon receiving
INCH certificate the commissioner may.
mon the payment of the fee of two dol
arr issue a license to such person, auth
,rizinp him to transact business in this
,t4te in accordance with the provisions
{ this act ANA such license shall expire
n the first day of the next July but no
hull 10 iSSncd under the DToNiS-