Alma record. (Alma, Mich.) 1878-1928, 1907-06-05
INSURANCE BILLS PASSED BY THE HOUSE
All Of Them Agreed to and Put Through Without Amendment
of Utmost importance We're introduced at In.
stance OF State Insurance Department-Ths Ticket
Scapns Evil Causes an Appeal to the Legislature
NO Hope For the Local Option Bill

Lansing, Mich, June THE house
devoted an afternoon to the consider
alton OF number OF insurance bills
introduced at the instance of the state
insurance department. Eight OF these
bills relate TO life insurance, being de-
signed TO curb any tendency TO in
dulge In the questionable methods re-
vealed by the Armstrong investiga-
ton. All OF the measures were agreed
to without amendment and passed by
a unanimous vote. They are of more
than ordinary Importance irasmuch rs
they change in material particulars
the life insurance laws OF the state
Probably the most important is one
establishing standard provisions and
conditions which shall be embodied in
all life insurance policies hereafter is
sued In Michigan. This bill DISC speci-
fies a number of provisions which
shall not be embodied I'm policies is
sued in Michigan.
What Other Bills DO.
Other bills prohibit companies from
making contributions for political pur-
poses. prohibit misrepresentation
and the use OF estimates i'm the sale
of life insurance. require an itemized
voucher to accompany every disburse-
ment in excess of 500. prohibit the
payment OF any salary or compensa-
ton in excess of $1,000 TO any officer
or agent of company unless such sal
airy Is first authorized by a vote of
the directors. They also make the per
son soliciting life insurance the agent
Of the company and not the agent OF
the insured person, provide that every
policy shall contain the entire contract
between the company and the insured.
and materially strengthen the anti
rebate or anti-discrimhltion bill so as
to confine the transaction between the
parties 10 the sale OF life Insurance
shorn Of all stock schemes and other
collateral considerations
Fire Insurance Measures.
Other insurance department bills
passed by the house permit fire insur-
ance companies TO invest in the same
class OF securities as state banks are
permitted TO invest in, and a penalty
clause TO the retaliatory fee law and
place the expert employees Of the de
partment on the same basis as EN-
ployes OF the state banking depart
ment. The only bill passed affecting
fraternal beneficiary societies IS
one which prohibits any two or more
such societies from amalgamat'ng
unless the members OF each are per
conally notified by mail Of the in
tention so to do and notice thereof
published I'm five newspapers and the
contract Of amalgamation or reinsur-
ance is first approved by a commission
composed of the governor. attorney
general and commissioner of insur-
ance. This measure is designed 10
protect the interests of the members
OF these societies and prevent their be
ing transferred 10 their great disad-
vantage by officers and directors who
may profit by the transaction.
All OF these insurance bills are now
in the hands OF the senate committee
on insurance They VIII be reported
ont this week. and there is little doubt
that all OF them will become laws.
They will give Michigan all the new
legislation that is needed OH this sub
ipct