Daily capital journal. (Salem, Oregon) 1903-1919, 1911-10-11

transferring or reinsuring its men, |
bers holding said certificate provid- |
ing for death and disability indem- !
nifty only to said Company.
Now Therefore, The said Company, !
in consideration of the covenants and
agreements hereinafter contained,
does hereby reinsure and accept as
its members, upon the terms nd to
the extent following, all of the living
members of the said Order holding
said above described membership
certificates who are in good stand
ing at twelve o'clock noon on the
books of the said Order on the date
this agreement goes into effect; it
being understood that this shall also
include such delinquent members of
said Order as shall be hereafte" rein
stated under the terms of the said
certificates. AS to every such men,
Der said Company will and does here
by assume the full liability under his
or her said Life Benefit Certificate
for the full term of one year from
twelve o'clock noon of the day this
agreement goes into effect, unless
such policy is sooner exchanged. as
hereinafter provided,
On or before the expiration of said
term of one year, said Company will
issue to each such transferred or re-
insured member, in lieu of his pres
ent Life Benefit Certificate in said
Order, without medical examination
and without expense to him or her,
the Whole Life Non-Participating
Policy of said Company, or any other
form of policy now issued by said
Company, at its present prescribed
premium rate for such policy, applic-
able to his or her then attained age,
| for an amount not exceeding that
provided by his present Life Benefit
| Certificate in the said Order accord
ing to on of the two following op-
| tiuns:
First Option: Said member may re-
ceive from said Company, in lieu of
his or her said Life Benefit Certifi-
cate in said Order, upon fling his
written application therefor, any
form of policy now issued by said
Company, on which policy the mem
ber will be required to pay the pres
ent prescribed premium rate of the
Company for such policy, applicable
to the said members then attained
age, the said policy to be free from
all lodge dues; or
Second option: Said member may
hereafter pay to said Company the
same premium amount heretofore
paid by him or her to said Order
and thereupon shall receive from
said Company, in lieu of his or her
said Life Benefit Certificate n said
Order. said Company's Whole Life
Non-participating Policy, for such an
amount of insurance as said monthly
payment will purchase, computed on
the present Whole Life Non-Partici-
pating Premium Rate of said Com
pany applicable to the said members
then attained age, which net amount
of insurance shall be plainly eX-
pressed in words and figures in the
face of the policy; the said policy to
be free from all lodge dues fThe
Whole Life Non-Participating Prem
ium Rate of said Company is the
National Fraternal Congress four per
cent net rate, with an adequate load
ing for eXpenses.)
ANY such member who fails 10 no
tify said Company of his or her Sc
lection Of one of said options within
one year from the date hereof shall
be assumed to have selected and ac-
cepted the second of said options;
and thereupon the policy provided
for in said second option shall be is
sued to and accepted by. him or her
in lieu of his or her said present
Life Benefit Certificate.
That the entire undertaking oi
; said Company is to assume and car
ry the contracts of said order. trans
. ferred, as hereinbefore provided. and
as evidenced by the said certificates
, for the period of one year from the
; date this agreement goes into effect
and that at the end of said wear, OF
, before, upon the selection or accept
} ance of one of said options, as above
provided, said Company will issue tC
said transferred member, without
medical examination or expense to the
insured the policy provided to he is
sued in the option so to be selected
or accepted, which said policy wheT
issued shall in the case of each ant
every transferred member replace
his Life Benefit Certificate, and cause
such certificate to become null ant
void
That until further notice from salt
Company during the term Of on
! year. as aforesaid, premium pay
ments may be made by such mem
! bers, either at the Home Office O
said Company or at such othe
place or places as may from time t
! time be designated by said company
7 That the Subordinate unions {
! said Order may be continued by II
! present members, but such subOrd
Z nate unions shall not be necessary
! the continuance of their insurance
I said company neither shall sal
J unions be a part of or cOntcclled
! any manner by said Company nC
Z shall said Company be held to an
! responsibility for the acts Of sue
: unions, their officers or members.
Z That said Company hereby r
serves and is given the same right
7 defense against any liability whiC
Z may accrue to or against it under
! because of this agreement as wou
7 or could be exercised by SAL Ord
Z In the absence of this agreement.