The Birmingham age-herald., 1907-08-29

ed from such class section or division,
 such amount payable to the assured at death, or beneficiary named by him only. Class 2 For q weekly benefit of not | exceeding twenty dollars in case of dis ability and no death benefit, such com pany or association shall keep on deposit | with the insurance commissioners two | thousand dollars.
 | Class 3. For a weekly benefit of not | exceeding ten dollars in case of disabil- | ity and a death indemnity of not ex- ceedng two hundred and fifty dollars l such company or association shall keep on deposit with the insurance commis- soner three thousand dollars. Class 4. For a weekly benefit of not ex-
 ceedlng fifteen dollars in case of dsablli- | ty and a death benefit of not exceeding four hundred dollars, such company or association shall keep on deposit with | the insurance commissioner four thou sand dollars
 Glass ,. For weekly benefit of not exceeding twenty dollars in case of dis ability and death indemnity of not ex- | ceeding five hundred dollars, such com. pany or association shall keep on deposit with the insurance commissioner five | thousand dollars. Such companies or as- ! sociations shall not be authorized to I transact business in this state until they
  l stituton, by laws and certificate of mem 1 bership, or policies to the insurance com | missioner, and have at all times not less 1 than five hundred bona fde members or 1 policy holders, and the amount that IS ! required to be deposited with the insur- l ance commissioner in such of the above | and foregoing class or classes of this section regulating weekly benefits. death benefits and deposit required to be made | with the insurance commissioner as may l be determined, shall limit the class of l business of any company or association l qualifying for business under this act. | has been paid In a benefit or indemni- 1 ty fund for the use and protection of it's members or policy holders Such bene- fit fund must either be paid in cash or in bonds of either the United States, the ] State of Alabama, or of a county or mu- | nicipalty of said State, of the market l value of the amount that may be specified 1 in either of the above and foregoing | classes of this section. Such benefit | funds shall be kept on deposit with the | insurance commissioner of Alabama and | kept by him as an indemnity fund for the benefit of its members or policy holders in this State Provided, however. that any such company or association | making such deposit shall be entitled to | the income thereof, and may from time to time with the consent of the insurance | commissioner, change in whole or In part | the securities which compose the de-
 posit for other competent securities of equal value. Provided further, that all l companies or associations organized and | transactng business under this--act shall 1 have, and at all time maintain solvent assets to the amount of one dollar and | fifty cents for each one hundred dollars ! of insurance in force written by such 1 companies or associations, and In estimat- .t.,tR. .aI, must be deducted therefrom any liabili- l ties of such companies or associations, 1 for any sums or amounts due or owing | for any purpose claims other than iia- bilities upon it's policies or contracts Of 1 insurance
 | Sec 2. Be 1t further enacted that Sec l ton four (D be amended so as to read | as follows: Section 4. That Section 1119 of the Code of Alabama of 1s96 be 1 amended so as to read as follows 1l19 | Q55O. Visitation and examinations. EV- cry such company or association shall ee subject to visitation and It's books ana papers to inspection by the insurance commissioner, his deputy or such person as he may designate and the actual cx- penses of such examination shall be paid by the company or association. In no case shall the insurance commissioner or his deputy or such person as he may designate charge for the time not au- tually taken in going over the books ana papers of such company or association. If the insurance commissioner is after such examination, of the opinion that such company or association should be restrained from doing business. he shall report such opinion with the facts upon which it is based to the attorney general, whose duty 1t is, If he think the facts warrant the report to apply to the chan cellor of the chancery division, or the city or other court having chancery Ju- risdiction in which is located the princl- pal office of the company or assoclatloh' for the appointment of a temporary re- ceiver and an order requiring the offi- eers of the company or association to show cause within a reasonable time why the company or association should not be restrained from continuing business. In the event 1t shall be ascertained thai the company or association should be re- strained from continuing business, ana IT it shall appear that the interests of poli- cy holders resident In the State of Ala hama require further intervention and protection, the court may make the tenn porary receiver permanent, or may ap- point Q permanent receiver. In the ad- ministration of the duties of both tenn porary and permanent receivers they shall be subject to the laws now in force and to such reasonable orders of the court as may be necessary.
 Approved August 3. 1907.
 official:
 Frank N. Julian,
 Secretary of State.
 l No. 73O) AN ACT (H. B. lSfZ. To amend Sections IA and IS of an act
 entitled "an act to prescribe rules anu
 regulations relating to demurrage and
 car service and the charges therefor,
 and the respective rights, duties. obll-
 gations. liabilities and remedies Of
 common carriers by rail and shippers an consignees with respect to the TUT
 nishing of empty cars and the trans
 portation and delivery of freight ana
 delay of shippers and consignees In the
 loading and unloading of cars and the
 receiving of freight and charges for
 such delay" approved February S,
 1907.
 Section l. Be 1t enacted by the Leg's- lature of Alabama, that Section IA of dn act entitled, ''an act to prescrlpe rules and regulations relating to demurraSe and car service and the charges therefor and the respective rights duties, ooiiga- lions. liabilities and remedies of common carriers by rail and shippers and con- signees with respect to the furnishing or cn,nty ears and the transportation ana delivery of freight and delay of shippers and consignees in the loading and unioao- ing of cars and the receiving of freight, and charges for such delay, approved February 2s, 1907 be and the same is
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