The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1909-02-25
Senate BillNo. 95
BYeouLDENc
AN ACT


b. Eeaoed by me People Of he STATE q okanogas ,u.,o
SECTION Il Associations Of moi less than one "V's"'r
M .lo have ~ insnrabIc interest such property as Is
ter specified may be formed IL the manner Aere'na'e p
~ M M nurosc 81 mutual Insurance Of live stock ano p"no
;s hlf NAV embrace conts school houses and churches any
ser csens farm buildings and their contents ana qeaeN
su dwellings and barns SIXTY feet from any oopans any "''
e5etcnss against Gre, lightning and NndspFns,
srcrlON Il Articles oi Incorporation siah q pVp"Sf
pcac and submitted d lc Insurance ~ommssone ~ w
ptoss and said articles Of incorporation shall designate ~
fc eon,asny its place Of busncss, The term ior whru
ha exss sc nunbcr and names 81 is directors VINO s'" n
oha c farmers by occupation and members q u ss2.'g
oE which lcre shall be not less than hyc nor more na'
sad aee shan be filed with tie Insurance Commissioner O r
se sorn statement showing that said charter appued io'
III n M ta ono thousand persons having the qualifications
,ncaoued ard who have made bona hde applications ioF
,hc premiums puon which shall amount 70 not less than
hec thousand dollars Of which at least ve Thousand NoF
AVS shan have been paid in actual cash and Tor the ''anos
5 Fch noGes Of solvent parties ounaea upon aeua any ''
s applications for insurance shall have been received po os
~, s received as Aforesaid shall amount 70 moro laa o
honare dollars and no thereof shall be gwen lot INC SNR
,s ~ made by the same person firm except where the WRo@
non 81 suc notes docs net exceed ihe sum q ohc nue"
a.r nor shall any such be regarded or represented q
cs nuless policy be issued upon the same within 'nfy ss
after e organization Of the company taking the same upon
M which sa BE- for no shorter period than twelve months no
M otes shall be accepted as part Of such assets unless ln
same shall he accompanied By certificate Of justice q lh
aF nubc II clerk 81 the district court in the county ~ which
c sso cxcmnung such note shall reside tha person nas
, As n hs oninior pecuniarB responsible Tor the same u
,fofff moi exempt from execution by the laws Of TINS sae
SECTION H with hc articles Of incorporation, snal ne
M ut by-aws which shall have been adopted BY same gen
eraI aeelng The members and which shall Continue ~ loes
uusll changed BY The Board Of Directors
SECTION III hc articles ol incorporation are iound 'e
co.upg with thc pfovsions Of this Act aud all Other laws rs
State applicable 10 such eompaay tIe Insurance COMMISSIONS
sau approve tic One copy 20 approved Aal 3 heo WIN
III SECRETARY 0f State with the Insurance Commissioner ana
se other one Shall be returned the Company Tic Secretary
ii ssalf S then issue charter 10 said company and he In
sans Commissioner upon payment Of license Zee o hvc dol
fs sa issue the said company license 70 engage IN e Ous
ness Of FIRE lightning and wndston insurance as may o pre-
sidcd III said articles Of incorporation
SECTION u Any such company shall procure License
1fo tie Insurance Commissioner for each agent apponeu an
lhe frc for said license shall be fifty cents.
SECTION Tue company shall eSisi ior any term io ,.
stated IN lie charter exceeding hiy so years unless soone
dissolved IS other corporations by law dissolved
SECTION 7. Changes IN lhc bylaws not affecting ou'.
Endng insurance may bc made BY majority vote q ue oaf
ST Directors al regular called meeting q le joaFd o. y
ersor thirty days notice Of such proposed change shall have
een previously given Such changes mu bc authenticated by
M signature 81 the propcr officers and tic seal q Tic eomms
and 81 recorded h the proper Of proceedings Of such con-
,ah9 a0d duly authenticated copy q such changes snail ne e
III slc Office 81 lie Secretary d State thirty days before c sane
sa be valid II sIa be ie duty OF the Secretary Of c can
llc company
SECTION8. No policy shall BE- issued Tor argc anoH9s
spon buildings than 6cn hundred dollars until said conpans
se actual bona de FIRE lightning and wilslonn INSURANCE
fh force and effect ID amount equal ouo less than ile
er dollars after which said company may issue policies io ap
enouug NOT exceed which said company may Issue policies eF
III amount not exceed 100000 aus building and contents
Provided That no buildings e contents thereof shal =
INSURED for more hau lrir actual value and 81 case c paA
Toss the total measure Of indemnity shall not eSefed the ael
cash value 81 icp property DESTROYED al hc time loss Wien
ever there Il partial destruction damage Of properly covert
byasufanec shall be The duty o lc party writing se ole'
tbpay sum money eqai o the carnage done te foefy
oepaf tho same to the extent 81 suss daunse. not eSrsen.
thamonnt written the policy 50 tai said property s hei
IS rood condition as before tie fire. 81 tie option q e insurer
pfoyata 4pfhe Ihao Autuas lnuFance Company ha ssV
NV osin ~ policy other Than tie 0kahoma STANDARD wiihoa
fr submitting said form TO- and obtaining the approval OF II
lnSahhee Commissioner
SECTION 8 Any company taass under ule ppsislppFa
{bysuA recenein cas4 of omsoFy notq nVs less i9g qs
hAf 81 = Yef#a upaa I've seek badngs and contents a
t tremahdt9 secured BY anoie payable in whole Or m pas M
assessment or assessments made BY The Board Of Directors 81 Il
company weuey they consider The same necessary g pay II
losses znd expenses
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