The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1910-06-29
PROTECT YOURSELF
BY FORMING 4 MUTUAL INSCR-
iNCE COMPANY.
According 10 Fill Passed by the Leg
i>l:.turc Last February Ten Men
May Organize For Self Protection.

i>l:,turc Last February Ten Men
May Organize For Self Protection.
\ Ill! Was paSeG and approved BY
tn Legislature on III. 9Th day OF
February l"I" providing FOR the or
samiz.i!on ard regulation OF Mutual
Protective Associations. il l-uI .d@S
;nat any Ten men OF lawful age
could form an association 10 project
themselves against loss from tice
disease accidents. lightning. hai! fa:'-
a:c OF crops. aad 20 insure the Ike
stock o: lis members. IL must be
understood that this association IS al
lowed only 10 protect its aeinberS
ans is not organized with 4 purpose
OF making nloney. or enrich!us aay-
on privately These associations
are on, allowed 10 work il: tn coun-
" in which they We're organized.
Before the state allows any OF them
20 begin business the elected presi-
dent and secretary Of the proposed
association must swear that twenty
five men will take on, policies in II
for not less than a total sum OF
twenty-five thousand dollars. This
lis; Of subscribers must be sworn 10
and NED with the Insurance Com
missioner.
Each member Of the Association Is
entitled TO one vote in the elections
necessary Il is required that a thirty
day notice be given Of each meeting
By publishing the same in the county
paper and by sending postal TO each
member Of the association. who can
either attend or send proxy. but
no man is permitted &c vote more
| than twenty proxies or vote under
| the orders Of anyone having twenty
proxies. Each association is required
20 meet a; least once year and elect
directors and officers. the latter can
not De elected for term longer than
ed by each officer mus; be stipulated
before the duties OF the Office are en-
tered upon or the work performed
The manner in which this association
would pay the loses Of lis number
would be 70 assess each member
eQuitably for the amoun, Of the loss.
Should upon investigation the lHsur-
ance Commissioner find that ay OFF,
Ger is negleeting 20 levy and collect
any asseSsmen: made he may apply a;
any court having the proper author
i.y for mandamus 10 enforce the
performance OF the neglected duty.
The premium is 10 be gua-an-
teed By note or lein on the property
insured. bu, the property must be SO
described tha, a person could rec
ognize il from the description. Any
OF these associations could create a
reserve fund il the maner prescribed
By their bylaws. provided il did not
conflic; with the laws OF the state:
From table complied by Insurance
Commissioner McMaSter il is shown
iha, there are 6fte-n OF these insur-
ance associations now 4; work in this
State. carving from s19l.60i TO
S4.i25.0i0 insurance in foTce. The
| rates Of these companies range from
$3.50 70 $500 per thousand.
Here is what Insurance Comm!s-
sioner McMasteT says about them:
| The salvation OF these companies
is TO have director in each township
who will approve the insurance OF
each piece Of property in his town
ship: TO take only the class OF prop
erty. viz country residences and tn
| ant houses: 20 take only limited "a
! mount OF insurance. say $1,000 on
any one peice Of property: 10 have
at least one annual meeting Of the
policy aoliers 4: which the officers
and directors are elected. and al
which complete reports are 10 ue
mad by the officers: 10 have quar-
;erly meetings Of the directors.
| While 4 number OF these asso-
stations levy assessments rs the ireS
occur. and while Others levy ASSESS
mentS but once year j; is believed
safer 20 require the insured TO pay
that il would be very much better AID
in advance what is understood to be
the rate by the stock companies. and
a; the end OF III. year 20 refund him
whatever the saving might be.
There are m-my other features
connected with the business needing
explanation and IL insurance De-
paT;ment will be glad TO answer any
inquiries made. AddreS your let
ter 10 the Insurance Department OF
South Carolina. Columbia. S. c.