The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1909-02-10

otaa2y Ssta SNice yeaf 81 hch nrs Que shall be IL hs
sprha ana ono sh &c ia c al 81 eacs year At he Spring
meeting fug and complete report 81 Sic condition Of the
pary shalt be made.
SECTION IS The president shall preside al al meetings
Of the directors and perform such other duties the bylaws
may require
SECTION .6 The Board Of Directors with Tie president
aap appoint board Of appraisers 10 damages prop
&t isprcd Awlftne times ashe board may see ST. with
tie power change the persons composing the board sch
time or cs as the directors may m and appraiscmcnt
when SO made shall be final as % The anont Of the loss
SECTION IL. The secretary shall have charge q Chs
clerical business Of the COMPANY shall receive all moneys and
funds belonging hc company keep record Of such moneys
gnd funds and turn them the treasurer q the company
ang the treusurcs cccip therefor upon bis books Of
SECTION 49, The treasurer shall dsburse all money oy
payment OF losses debts and expenses Of the company upon
written order from the secretary counrsgned by the prcs
dent but he shall have authority dispose Of the securities
Of the company borrow MONEY in the Of the company
lcss authorized do BY majority vote Of the directors
SECTION Io The secretary and treasurer shall each give
bond payable the company for the faithful performance o.
his duty ID such Sums as shall be demanded by tic Boar d
Directors The president shall be custodian Of said bonds and
L shall be his duty 10 that said bonds executed with
standard bondng company legally authorized to do busicss il
this State and q such as demanded BY the Board Of D
rectors.
SECTION co. Any officer Of the company may be removed
or neompcency neglect refusal attend 70 business or lot
conduct unbecomng ali officer BY two-ihird majority o ic
claims In the losses and claims exceed ie maximum prem
an less the necessary expenses the amount collected less The
necessary expenses al be paid pro rata upon such claims and
and the company shall bc released from any further ia
bity thereon
SECTION ai The officers 81 any company organized I'M
der hs act shall sunay before The rs day Of February o
each year make The Commissioner q Insurance foil report
81 Tic financial condition of hc isl day o December 81 hc
i,
said company during the previous year Will detailed report Of
It's receipts and expenditures
SECTION as The grant Of corporate power IN This act
contained subject to alteration suspension repeal thc dis
contained subject to alteration suspension repeal il c dis
erection Of the Legislative Asscsby
Board Of Directors OF the regular meetings Of such board
OF at special meeting Of such board called for that purpose
SECTION aI Any company operating under this act shall
aside any equal per cent Of the gross prem
for the purpose Of creating fund from whiclto
pay losses cases Of emergency and the fund
acd shall be invested only provided for in the general laws
Of this State relating The in which the funds Of IN
surancc companies shall be invested
SECTION za. The company may sue and be sued hi its
corporate name
SECTION a. In case Of suit on any policy obIiea
ons 81 the company member Of the company shall be liable
for any other Than his premium bis policy any
Judgment upon amy policy claim against The company shall
paid ii ihe and to the same extent as other
Section a6 Provided that nothing contained in his set
shell affect any company heretofore incorporated and now do
ng business IA ibis State But any such company may by
resolution adopted BY majority Of is Board oi Directors as
sept The provisions Of this copy Of said resolution and
certificate showing the vote thereon shall be filed with the In
Commissioned and another such COPY and certificate with
the Secretary Of State and theeupon the provisions Of this act
SHALL and become applicable such company except eeons
s. 3 and which shall be held apply only to he manner Of
organising companies hereinafter Incorporated
SECTION ~ That chapter XVII article Of he Session
Laws Of 1900 and all other acts and parts Of acts 10 conflict here
5e;h hereby repealed