The Republican journal., 1913-04-10


10. To examine titles of real estate
and personal property. furnish informa-
ton relative thereto and insure owners
and others interested therein against
loss by reason of membranes or defec-
tive titles.
H. To insure against loss or damage
to automobiles except loss or damage by
fire or while being transported in any
conveyance, either by land or water;
including loss by legal liability for dam
age to property resulting from the
maintenance and use of automobiles.
p To insure tany goods or premises)
against loss pr damage by water, caused
by the brealtage or leakage of sprinklers,
pumps, water pipes, or plumbing and its
Nom other cause than fire or lightning
to such sprinklers, pumps, water pipes.
plumbing and fixtures.
Il. TO insure against loss or damage
to property arising from accidents to
elevators. bicycles and vehicles. except
rolling stock of railways from other
causes than fire lightnng(
Section . Section A. Such agreement
shall set forth the fact that the sub
scrbers thereto associate themselves
with the intention to constitute a cor
poration. the name by which it shall be
known, the class or classes of insurance
for the transaction of which it is to be
which its business is to be conducted
the town city in which it is estab-
5hea or t loea'ed 'no and Of ,t s can
tai stock, and if mutual COM
pany with guarantee capital, the
amount thereof. The capital stock of a
stock company organized for any of the
purposes hereinbefole mentioned shall
not be less than one hundred thousand
dollars, and mutual company Moor
porated TO transact any class or kind of
insurance other than fire marine or
plate glass shall have Il guarantee capt.
tai provided in section forty-three of
chapter forty-nine of the Revised Stat
utes and holders of certificates of such
guarantee capital shall not receive divl
dends in excess of seven per cent in
any one year and in no case unless
ter determining all liability as required
by the insurance commissioner. Mutual
companies may be Incorporated to tran
sact fire. marine and plate glass fnSur-
with the provisions of section twenty
seven. chapter forty-nine of the Revised
laws of this state relating to such com
panes, provided, that they shall contine
their business to not more than ten
towns; mutual companies may lncor
porate for any of the foregoing pur-
poses which do not so limit their bust
ness and before doing any business
they shall establish guarantee fund or
capital of not less than ten thousand
dollars Which may be divided into shares
of not less than one hundred dollars and
certificates issued therefor. A dividend
not exceeding seven per cent. in any
one calendar year may be paid from the
net earnings of the company after pro
viding for all expenses, losses, reserves
and liabilities then insured. Such guar
anty fund or capital shall be invested as
provided in section eleven, chapter
forty-nine of the Revised Statutes and
shall be deposited with the state treas
urer. When the cash and other avail
able assets Of the company are ex-
hausted such part of said fund as may
be required shall. with the approval of
the insurance commissioner be drawn
and used to pay losses then due. When
such fund is so drawn upon. the direc-
tors shall make good the amount so
drawn by assessments upon the contin-
gent funds or notes of the company and
unless such fund is restored within six
months from date of withdrawal the
share holders shall be assessed in pro-
portion to the amount of stock owned by
them for til" purpose of restoring SAID
capital. Share holders and members of
such companies shall be subject to the
same provisions of law relative to their
right to vote as apply respectively to
share holders in stock companies and
policy holders in purely mutual compan-
les. said guaranty capital may be re-
tired, when the surplus funds OF tho
company over and above al! liahluties
including guaranty capital shall equal or
capital, by vote of the policy holders or
any part of said guaranty capital may
be retired provided that the amount OF
net surplus and guaranty fund shall not
be less than ten Thousand dollars. sand
guaranty capital shall be retired when
the net cash assets of the company
capital
ANY mutual fire. marine or plate glass
insurance company which has estab-
lished = guaranty capital provided
herein and has obtained applications for
insurance required by section forty
four of chapter forty-nne of the Revised
Statutes, shall be authorized by the in
surance commissioner to write business
and such company may take a premium
note as provided in section twenty-seven
Of CHAPTER forty nine Of the revised
charge and collect premium IN cash
and by its bylaws and policies fix the
contingent mutual liability of its mem
bers for the payment of losses and eN-
penses. not provided for by its cash
funds; but such contingent liability of a
member shall not be less than an
amount equal TO and in addition to the
cash premium written in his policy and
in no case less than one per cent. of the
maximum liability of the company, I'M
der said policy. The total amount of the
liability of the policy holder shall be
plainly and legibly stated upon the filing
back of each policy. Whenever any re-
duction is made in the contingent liabill-
ty of members such reduction shall APP
force, '-(Approved March l.. 1879
Chapter 40.
An Act to amend Section twenty-threee
Ct Chapter eighteen Of the the Ghapts
nineteen hundred seven, relating to the
State Laboratory of Hygiene.
Section twentN-three of chapter eigh-
teen Of the Revised Statutes. amend
ed by chapter twenty-siN of the public
laws of nineteen hundred and seven, is
hereby further amended by striking out
the words -four thousand five hundred
and substituting in the place thereof the
words five thousand five hundred so
that said section, as amended, shall read
as follows:
Section % The sum of five thousand
five hundred dollars year is hereby ap-
propriated to pay for the services of the
director. and of such assistants as may
he necessary, to procure the necessary
supplies, and to meet the other neces-
sary expenses of said laboratory, which
sum shall be expended under the super
Vision of the State board of health. -
(Approved March u. 1879
Chapter Al.
An Act to repeal Chapter one hundred
fifty three of the Public Laws of nine
teen hundred eleven, entitled AN Act
to prohibit the use of gang hooks, so
called, when fishing in the inland
waters of this State.''
Chapter one hundred fifty-three of the
public laws of nineteen hundred eleven.
entitled IAN Act to prohibit the use of
gang-hooEs, so called when fishing in
the inland waters of this State is
hereby repealed.-(Approved March IL,
1881
Chapter az.
An Act to amend Sections eighty and