Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-08-23
STATE HOUSE.
The New Insurance Laws
Of State Of Maine.
Big Rush Of Business at Pres
ent in Bug Department.
Gov. Cobb Will visit. Eastern Maine Fair
at Bangor, Aug. so.
STATE HOUSE CALENDAR.
Next meeting Of Governor and Council
Thursday, Sept. 7, at 4 p. M.

received from the hands OF the printer.
The pamphlet is compilation of all
the insurance laws of Maine and of the
he. acts Of the last session of the Leg
islature.
The following are the new laws con-
tanned in the pamphlet which are not
ed us the recent legislation along the
line and which are found in the book
for the first time:
Public Laws 1909, Chapter %
Section !. Chapter ~ of the Revised
Statutes is hereby amended by add
ing thereto the following section:
Section 15S. Fr;Lternal beneficiary
associations tranSacting business in
This state on the 18th day OF February,
1889. as herein defined and named i'll
Section l42 of this chapter, shall be con-
striied 10 include those so transacting
business through their supreme bodies.
or hy "A subordinate body, or by one
affiliated herewith or rendering al
ltgiance thereto, or by an OrganiZa ton
embracing Il portion of the territory of
any such association and at that time
or subsequent thereto contributing to
It's funds, or by one using its rituals
tie work sani calling its members by
the same general name; and no change
since that time or hereafter. i'll the in
tcrnal divisions or operations OF any
such association, or its rela atoms with
subordinate bodies, shall depriv" IL OF
the power to 50 transact business
through it's supreme body and subordi-
rate and affiliated divisions or agents.
Section :. All proceedings heretofore
taken in ac"ordanc" with the foregoing
construction Of said Section AZ are
hereby confined ANA legaliZed.
Section 2. This act shall take effect
when approved
Public Laws 1903. Chapter 50
Section ]. Any association organized
or incorporated under the laws of an
other state or country as a fraternal
beneficiary association and which does
not conduct its business upon the lodge
system with a ritualiStic form Of work
and 4 representative form Of govern
rncnt, i'll accordance with the provi-
slons Of Section ia Of Chapter 40 Of the
Revised Statutes. ana which is not sub
iect 80 the statutes Of this state rcgu-
lating fraternal beneficiary aSSocia-
lions. but which confines its member
ship to the members Of some particular
order. class or fraternity. and which
has the membership and qualifications
herein required. may be licensed by
the Insurance commissioner to trans
act the business of casually Insurance
ON the assessment plan and to prOvih"
for the payment Of death or funeral
benefits Of not exceeding one hundred
dollars to the bencficiaries Of deceased
members, subject to and in accordance
with the provisions of this act.
Section ,. No such association shall
transact any business III this State
without a license from the insurance
commissioner. Before receiving such
license it shall file with the commits
sioncr a duly certified copy Of its char
ter or articles of association: a copy Of
its constitution ana bylaws certified
hy itS secretary: power of attorney
to the commissioner as provided by
section one hundred fOrty-ihree or in
Section l43 of Chapter 40: Il statement
under oath of its president and Secre-
tary. in the form required by the com
missioner. duly verified by an eXamina-
ton made in accordance with the pro-
visions of Section 153 of Chapter 40
"f It's business for the preceding year.
which statement and examination
must show that the association had at
least 5000 members in good standing at
tn" date of such report, ana that it had
ON that date available assets in ex-
cess OF all known liabilities of not less
than $4,000: a copy of its policy and
application which must show that
benefits are provided for by assess
ments upon or other payments by per
sons holding similar contracts: a GER
'ific1te of deposit from the state treas
urrr Of this State as hereinafter pro-
vided. and shall furnish the insurance
commissioner with such further infor-
| nation as he may deem necessary to a
proper exhibit of its business and plan
OF working. Upon compliance with
the foregoing provisions the commits
Sinncr may license such association to
transact business In this State as here
| in defined until the first day Of the
succeeding July. and such license may
| thereafter be renewed annually. but in
| all cases to terminate on the first day
of the next succeeding July. The pro-
visions Of Sections 1923, 143, l4j, 141.
| AS. 149 and 1873 of Chapter 40 shall ap-
Iply TO such associations.
Section 2. No license shall be is
sued TO any such association until it
, has deposited with the State treasurer
| Of this State securities which are n
legal investment for savings banks of
| this state amounting to not less than
the maximum policy issued by such as
| SociltiOn nor to less than $1,000. The
State treasurer shall receive such Sc
curites and hold the same on deposit
ana in trust for the benefit of all the
| policy holders of the association in
| this State. and shall receipt for and
hold the same in the manner provided
in Sections 60 and 81 of said Chapter
-, hut he shall retain and hold the
same as long as any liability remains
Outstanding in this State. Whenever
any judgment obtained in Il court OF
competent jurisdiction in this State. by
a policy holder or any beneficiary
thereof. remains unsatisfied for more
than 60 days after legal demand upOr
the association. and no appeal from tn,
decision of said court is pending, sale