The San Francisco call., 1906-08-03

by the league to cover all its expenses
except for litigation, as provided DeioW.
Any surplus remaining In the hands of
this league, when all claims for insur-
ance have been finally adjusted, shall
be returned pro rata to those VINO ,S CON = +
its liabilities and terminated Its ex-
istence
4 Separate Organizations-When the
board of trustees has become satlsneo
that an insurance company is not able
to pay in full. or if it refuses on legal,
technical or other grounds to 90 So
cial institution, or other person or per.
sons to which the policy holders or
such insurance company shall, when
such course is necessary, transfer or or
assign their policies and the board OF
trustees shall then proceed to take the
necessary steps to collect the same.
ADVISORY COMMITTEE.
8. Advisory Committee-In all cases
where policies are assigned, an advis,
ory committee of five may be appointed
by such policy holders from their own
trustees HTi18sa Of Of this this league. que.
6. Litigation-Any legal steps which.
in the Judgment of the board OF truS-
icy-holders of any particular company
or companies shall have the cost there
of prorated among the policy-holders
Of said company or companies, but In
exceed 5 per cent, except by consent OF
a majority of the amount of insurance
represented in that company.
Z. Withdrawal of Policies-Member
who have subscribed to the league may
at any time withdraw any of their pol
icies, the league retaining the l per
low. When litigation has been begun,
members may withdraw policies by
paying, in addition to the aforesaid de-
posit of / per cent of their policies,
fhlir of WhafpV4r costs NAV
have been incurred for legal expenses
on said suits to that date, as above pro-
vided.
GOVERNING BOARD.
s. Trustees--The governing body of
the league shall be a board of trus-
twenty-f five members. Said board shall
be composed OF two representatives
from each Of the following commercial
organizations: The Merchants Associ-
cisco Board of Trade, the Chamber of
Commerce of San Francisco, the Mer-
ers' and Producers Association of Cali
fornia and not more than fifteen trus-
tees at large, which trustees at large
may be appointed from time to time.
The ten trustees representing the
commercial organizations shall be ap-
pointed by the presidents of their re-
spective organizations. The trustees at
board of trustees. All trustees shall
hold office for one year from the date
of their appointment, or until their sue
shall constitute quorum at meetings
of the board.
g. Executive committees-The board
Of trustees shall appoint an executive
thorized to act for the board in matters
requiring immediate attention.
10 Offfcers-The board of trustees
shall annually elect a president, vice
president and a treasurer, who shall
serve without compensation for one
year. or until their successors are
retary and such other employees as may
be necessary to conduct the work of
the league, and may fix their compen-
sation.
DATE OF MEETINGS.
IL Funds-No disbursements of the
funds of the league shall be made ex-
cept upon vouchers approved by an au-
diting committee Of the board of trus-
tees and mdoe signed by the president
the board of trustees shall be held at
least once each month, to be called in
such manner as the board may deter
mine.
The annual meeting of the league
shall be held in the month of January
each year, and special meetings may be
called by the board of trustees at any
time.
IL. Amendments to by-laws-These
bylaws may be amended by the board
VI llQobCCo dly IcSul OT special
meeting, provided that a copy Of the
proposed amendments is furnished to
each of the trustees three days before
said meeting.
Said amendments shall be submitted
to the next regular meeting of mem
bers, or TO special meeting of men,
bers to be called for that purpose, for
confirmation or amendment.
The league will be ready to receive
applications for membership as soon as
the necessary blanks can be prepared
Permanent quarters will later be pro-
vided for the organization. Lander A.
Redman. a specialist in insurance law.
will act as attorney for the league