The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1908-04-15
INSURANCE LEGISLATION
Vice President Of Fraternal
Congress Discusses Pend
ing Measure
sneeIal 10 naIIy Leader.

Special 10 Daily Leader
Hon charles f. piper Of chicaao
M yice-presidcnt OF The National
Traternal congress, is regisleied at
The lone hotel The National Fraternd
congress is an association of the lead.
Ing frateral insurance societies of
the country one OF the particular pur
poses Of which is the uniting nf the
different orders represented in an ef
fort TO adiusiLthe rates OF assessment
of sucs orders on q sound and pcrma
ncnt basis, Relative to pending ia
snrancc legislation he said
AS yice-presidcnt Of the National
leraternal congress. ! came 10 Guthrie
20 discuss The Insurance code pro
posed for The government of raternal
insurance societies represent the
executive committee of the congress
"Oklahoma IS fortunate In having az
this time 80 competent an insurance
commissioner as r. j. McComb. Tie
Is the right man IN ihe right place lle
knows the insurance business thor
oughly; is able 40 distinguish clearly
between real and fake insurance aud
has The courage TO declare what be
KNOWS TO Dt true.
THE territorial Aw governing The
licensing Of fraternal associations is
a very good law. so Tar as II goes. aud
IL has proven quite satisfactory TO
Oklahoma and to the societies.
The commissions suggests two lm-
pOriant amendments As thc laW
Stands, no fratenal association MOI
doing business in oklahoma when The
law was enacted can be admitted or
licensed unless its rates of eefdribu.
lion are based ON the National Fra
icrna congress table OF mortality
with Z per cent interest assumption
This means in plain English the so-
.ciety must collect money enough to
pay all losses ana 80 meet all prom
ises to pay as they come due This
is common honesty in insurance. Now
how about societies now doing bust
ness IN your state ON inadequate rates
Shall they be- permitted 10 80 on prom
ising bepeflis which they know can
not be paid. or ought we not 10 set
"A definite date for all such assoca.
tions TO get right al least so far as
new membership is cOnccrncd2 The
law IN all fairness ought 10 provided
that no society should be permitted
AAAif a ANilNlH nNiN ~ NihNll OF NulIiii
new members on inadequate rates
The commissioner also suggests
that all funds collected for he purpose
.ot. paving death and disability losses
shall be safe eguarded and not used for
The pas ment OF expenses Of manage
ment or other general expense
why should any honest manage
ment protest against so reasonable
NH al
tiops By Your state insuranca dc;.art-
ment aud lei societies which misuse
mortality funds be- denied the right to
do business in Oklahoma.
This state Us young u may avail
itself Of tie experience Of older states
and save its citizens from being eN-
plotted not only by vicious grafiers.
bat also by clumsy and ignorant man
ayers o, societies who seem incapable
Of taking warning from the experience
of others until the receiver knocks at
Che door and enters t0 clean lp the
fragments Of their diseredited and in-
solent institutions.
Senator B0ddies fraiernal insur
ance bill Senate Biil No. 2SI. incor.
poraies both suggestions made by the
commissioner a. is "a good bin in
many respects bui goes farther than
Us wise al his time There should be-
no effort 10 force the raising of rates
Of present members of societies The
purpose OF The bin Is laudable ana the
senator viii glaAis welcome any pr0n
er amendments designed lo improve
and strengthen g.
regret lhe criticisms that hive
beeu directed toward Senator Roddie
FOR introducing This bin They come
from iwo distinct sources. first. from
those who DO NOT understand the prin
eiples that control tine cosi of nsur
ance. aud second from crafty and uu
scrnpulOus holders of official positions
in fralernal socicties who would raih.
er stick to theif Jobs than 10 icll their
members ebe truth about their own
organization
y iind senator hotaie. Ike Com
missioner McComh lue friend og
ifniernal insurance They both should
be- respected for ine's cndeayor 10 pro.
ltels lhe people nf this great common.
wealth from Insurance fak.rs and
'upDoried in iheir efforts io gives 20
lOklshoma a sound cffe of insurance
laws
LET roe direct your attention %