Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1908-09-15
Western Life and
Accident Co. Must
Stay Out
RESULT Of EXAMINATION
Made By Deputy Insurance
Commissioners Lienau and
Special Exc miner.

The New Mexican herewith publish
es the decision of Territorial Insurance
Commissioner Jacobo Chavez. declin-
ing the Western Life and Accident
company of Denver, admission to do
business in this territory The report
Is based upon the result Of an exhaus-
tive examination of the affairs OF the
company made in Denver recently by
Deputy Insurance Commissioner Peter
NJ. A. Lienau of this territory and
Paul l.. Woolston, Of Denver, a special
examiner. Under the present regula-
tions the territorial insurance depart
ment Is making diligent and careful
inquiry into al companies applying for
a license to do business in New Mexi-
CO and no companies are admitted un-
less they have good resources and are
absolutely solvent. Insurance Commits
sioner Chavez and Deputy Commission
er Lienau are paying particular atten-
ton to all insurance companies doing
business here and subject them to a
thorough investigation before admit
tance. It is of the greatest benefit to
first-class insurance companies and
also to those who carry insurance, es.
pecially to merchants and house own
ers. who take out fire insurance. The
decision is lengthy one, but Of great
interest to all who carry life and acci-
dent insurance in New Mexico 1t
reads:
Examiners Report.
Denver. Colo, August n, 1908:
Western Life and Accident Company,
Denver, Colo.
Incorporation.
The Western Life and Accident
Company was organized in 1904 under
the provisions Of Chapter 10 OF the
General Statutes of the State Of Color
ado, entitled, can Act for the Forma'
ton of Corporations" The Certificate
of Incorporation was filed with the
Secretary Of States of Colorado. Octo
ber 1S, 1900, as shown by certificate OF
said officer dated May 7th, 1901.
Articles Of Incorporation.
A certified copy of the Articles OF
Incorporation is enclosed herewith as
required by law. These articles show
the company to have been formed and
incorporated for the purpose OF insur'
ing its members against death, acci
dent or sickness on the mutual plan
to deal in real and personal property
necessary for the transaction OF Its
business, ETC., the term of existence oi
the corporation being limited to TWEEN
ty years.
Bylaws.
The Company does not possess a
copy of the original bylaws and none
could be obtained. These Bylaws
have been amended from time to time
and the latest printed copy of October
2lst, 1907 shows the following facts:
Article !.
Object ITO insure the lives Of its
members by the assessment plan
against accidental death and loss OF
time from sickness and accident"
Article II.
Board of five directors.
Article w.
Notice annual meeting mailed policy
holders thirty days in advance. Prox
les Of policyholders not present to be
cast by the President.
Article XIV.
After January LIST, 1908, reserve
fund of $4,000 to be maintained, to bt
increased per cent each year Of me-
premiums, said net premiums to b.
equal to gross premiums less member
ship fees, commissions to agents
claims paid and state taxes and fees.
Article XVI.
In every policy or certificate there
shall be printed the minimum ant
maximum limit OF the contingen
mutual liability Of the policy-holders