The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-03-15


of the company-all of whom shall hold
their offices for one year, or until their
successors are elected and qualified;
Section 10. The directors of such COM
pany shall possess the usual powers and
be subject to the usual duties of direc-
tors, and shall make such bylaws anu
regulations, not inconsistent with the con-
stitution or this act, may be deemed
necessary for the management OF Its al
fairs, and may prescribe the duties of It's
officers and agents and Tx the conpSn-
sation for the same: and may after ot ana
of the board of directors, by majority
vote of the whole number of directors.
certified to the Superintendent OF 1nSur-
ance for his approval or disapproval.
They shall also fix the rates of insur-
ance and membership fees, If any are
charged.
der the provisions of this act. the presi-
dent and secretary shall prepare annual
ly, under oath, full, true and complete
pany on the 31st day of December, and
present the same to the annual meeung
of the company in January following, ana
they shall transmit the same 10 the ou-
perintendent of Insurance, not later than
the last day of February. If upon exam
company is doing business correctly and
in accordance with the PROVISIONS OF tn:s
act he shall thereupon furnish the cIrn-
pany certificate, which shall be deemed
authority to continue business during the
ensuing year. For such examinati1l and
certificate the company snal pay th1 Su-
pclintendent of Insurance, the sum ot ten
dollars.
Section T. Companies organized under
the provisions of this act may appoint,
in writing under the seal of the conf
pany one or more agents; but no agent
for such company shall directly OF indi-
re city take any risk or transact a2y Dus-
mess, of hail Insurance in this state, IN
til lie has gwen the company a bond IN
such sum as the directors may require,
with two or more sureties, to be APPROX
ditioned upon the faithful discharge of
his duties as such agent; and n such
structions of the company, or be guilty
of any fraud or deception, and the COM
pany shall suffer loss thereby, then saio
the company on his bond for the fun
amount of such damage; nor shall any
agent transact any business until the COM
pany shall first procure from the Super
intendent of Insurance, for said agent.
a license authorizing such agent to act
as such, for which license the company
shall pay the. sum of fifty cents; such IL
cense to be in force until the first day
ed, and which shall be subject to revo-
cation at any time by the Superintendent
sufficient.
Section 13 If any member shall, for
the space of thirty days after the publ,
cation of said notice of assessment, and
service of such upon each member by
mail, postpaid, directed to him at ms
post office as written in or on application
for insurance, neglect or refuse to pay the
sum assessed upon him his portion OF
any loss as aforesaid. in such case the d.
amount Of of his deposit note or notes. with
cost of suit; but execution shall only
accrue If the whole amount of the de.
post notes and cash in the possession OF
the company and belonging thereto shalI
be insufficient to pay the losses due TO
the members of the company, occasloned
by hail, in such case the sufferers 1nsur-
ed by the company shall receive as pay
a proportionate share of the wnoie
To q adjusted losses
no member shall ever be liable to sucn
company, or to any other person, 5or
more than the whole amount of his de-
Section A. The Superintendent of In
surance may revoke the authority o. OF any
appear from the companys report, or
upon examination of such COMPANY that
of this act.
Section IS. In companies organized un-
der the provisions of this act. the e;1 nun
who shall be chosen from the members
of the company. OF those chosen at the
for one year, one-third for two years, and
one-tllird for three years. or until their
each annual meeting of the company,
number equal to One-third OF the whole
number of directors shall be chosen Tor
three wears, to fill the place of those
whose term of office expires. A major
ity of the board of directors shall be
Vacancies in the board shall be filled by
the remaining members until the next
Section Is. The annual meeting of the
board of directors shall be held on the
day following the annual meeting OF the
members of the company, when prac-
ticabIe. and shall not be later. than five
days thereafter, for the election of its
officers and the transaction OF sTch . otneE
of directors may meet at such times as
may be designated by the bylaws of the
Section II. Provision may be made by
bylaw for an executive committee, and
the board of directors may delegate to
and duties as they deem expedient. not
inconsistent with the provisions of the
law.
Section Is. Companies organized under
the provisions of this act, may issue pol
against loss or damage by hail. Every
policy shall contain a printed copy Of the
application and also copy of the by
laws, which shall become part of the
contract between the company and the
assured; and all policies of the company
shall be signed by the president and Sec
The liability of every such company
shall not cease prior to August first or
which the policy was written; but the
membership, for voting purposes only
in the year following that in which the
policy was written
resentation made by the assured, or in
his behalf in the negotiation reinsurance,
shall be deemed material. or defeat or
void the policy, or prevent its attaching,
unless made with intent to deceive and
defraud. or unless the matter misrepre-
scented increases the risk.
Section 20. No hail insurance company
doing business in this state, and no Off
Ger, director agent thereof shall issue
or circulate, or cause or permit to be is
sued or circulated, any estimate, illustra-
ton, circular or statement, of any sort
misrepresenting the terms of any policy
issued by it or the benefits or advan-
tages promised thereby, or the dividends
or shares of surplus to be received there
on, or shall use any name or title of any
policy or class of policies misrepresenting
the true nature thereof.
Any person violating the provisions of
this act shall be guilty of misdemeanor.
and upon conviction thereof, may be fined