The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1909-02-25

and doing business under this Act shall c permitted % engage
The business Of hal OF crop insurance
SECTION Is Che BQpd Of pgeeossflq consist pt not \
Tess hpS 6veno4mo* IN 'hi9h persons Hlo shall bona
hde farmers by occupation and policy hods q SidcoRpany
and who Shall hold their Office for suehtes ne bylaws nay
provide except that tie FIRST directors named shall only
until the first election and until their elected and
qualified Meetings for the purpose Of eeeing dec
tors shall be held annually the principal Office oI The coman
Each policy holder d the company shal have yoc Votes
shall bc cast BY the members personally By written printed
proxy and fdrait 81 votes shall elect Provided That -
order to vote member shall be apocy holder m said company
holding policy which shall be in u force and effect at he time
Of said election.
SECTION i3 The Board Of Directors authorized %
elect president treasurer secretary and general managers who
shall be members Of the company excepting the secretary and The
general manager who may may not be members Of said cont
pany Provided That no officer other than the president WHO may
or may director shall be member Of the Board Of )ree
tors and said shall have full and complete control Of the
afs 81 Sadrompauy subject at AL times to the viii o ma
oy o The BoasoF Directors They shall perform such duties
as are prescribed by law and the byaws Of the company and o
their service shall receive compensation be fixed by the oar
Of Directors The general manager shall have charge Of c field
work and perform such other duties may be specified the
bylaws Of the company The secretary and the shall
make scmiannua reports showing in detail the condition Of s
affairs the company aud Of al their transactions officers and
shall report such other times may be required by hc Boar
81 Directors.
the cali Of the president IN The absence neglect Of the prcs
dent the majority Of the Board may call meeting the pra
rpa Office Of the company sueh time times tho bylaws
may prescribe but the Doard shall meet less frequently
than twice year Of which times shall be in the spring, and
one shall be in the fan Of each year AT the spring meeting
full and complete report Of lie condition 81 tie company Shall 5
made.
SECTION 10 The president shall preside all mcctngs OF
the directors and perform such other duties the bylaws ay
require
SECTION ~ In The event of disagreement as 10 the
amount due Of loss under any policy the same shall y,
asceancd by competent and disnlcresed appraisers the
assured and the company each selecting one and the two
chosen shall first select competent and disnteresed umpire
the appraisers together shall then estimate and appaise the loss
stating separately sound value and damage ard failing agree
shall submit he differences to The umpire and the award OF any
writing shall determine the amount OF such oss The parties
thereto shall pay the appraisers respectively selected by them and
shall bear equally the expenses Of the appraisal and unpic
SECTION rs The secretary shall have charge Of tic
clerical business Of the company shall receive all moneys AMI
funds belonging 70 the company keep record Of suc money
and funds and urn them the Of tile company
taking the rcasurcrs receipt therefor upon his books Of accdun
SECTION Io The treasurer shall disbuc all money for
tic payment Of the losses end expenses OF tie company
upon written order from the secretary countersgled BY the
president but be shall have authority dispose o ihc
de o. lhe company 70 borrow money The Of the
any unless authorized to by joriy Of the directors
SECTION 2o Tile secrtay and he treasurer shall caca
gsg bond PAYABLE o company ipr c faithful performance o
It's duty scl shall be demanded by the BOARD Of Drcs
The president sl be custodian Of said bonds ad Shall
be bis duty mt said bonds executed with standard
bonding company legally authorized do business this State
and ii such demanded BY The Board Of Directors
SECTION a. my officer Of the company may be renioyei
o neompenency neglect refusal 70 attend business a
conduct unbccomag officer by twolrds majority Of the
board Of Directors Of Tie regular meetings Of such Board
special meeting Of such Board called for that purpose
SECTION aa Any company operating under This Act shall
70 amount equal 10 per Of tic gross prcnms
fo s 0losc o. creating reserve fund from which pay
81 emergency and ihcgcscve fund created shall
invested only provided for III The general laws Of ia State
ailpS Tie manner IN which The funds d insurance com-
fsniies shall be invested,
SECTION as Fhe company may qr be sired Il d.
gaspDra{e name
SGCTl0N az IN case Of suit on any pqEcy b obligation
q e company member Of the company shah bc ae or an,
ano'nit other than the gross amount Of premium slae IL hi
policy ANY judgment upon any policy caa against ttc com
parry sla be paid IN e manner and 10 c same exen
other claims Al The funds The company css tic uecasa
EXPENSES not sufficient pay III full a losses anH tgu.
said funds aIbe paid pro rata upon such losses and claims All
le company shall be released from any further liability
CErTON The olirers NJ ANY Na,neaoy ,,.le