The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1913-01-06
INSURANCE LAW IS
TO Be IMPORTANT
"Mobile Bill" is Planned for
Passage by the Present
Legislature.
(By H. D. Paulson.)

Bismarck. N. D.. Jan. 6.-of all
the proposed insurance legislation
which the Thirteenth legislative as.
sembly will be called upon to consid-
er. undoubtedly the most important
measure. from the standpoint Of the
and control of fraternal
benefit societies. This. at any rate. is
the opinion Of Insurance Commission
err w. c.. Taylor. who will urge the
passage of the so-called Mobile Bill" !"
which is designed to secure a standard
Of solvency for fraternal societies
which issue insurance certificates
This bill was formally adopted by the
National Convention Of Insurance
vention held In Mobile. Ala. in 1910.
From that fact the measure has come
to be known as the Mobile Bill" 1t
has also been endorsed by the National
Fraterpal Congress, the Associated
Fraternities of America and the Fed
Grated Fraternities these being the
leading associations Of fraternal soci-
cites in the United States, representing
in their membership ninety per cent Of
ed fraternal beneficiary societies.
The Importance Of this measure
from the standpoint Of the insuring
public" said Commissioner Taylor to-
day. lis at once indicated by the fact
that the thirty-four fraterual benefit
societies which are authorized in
North Dakota had nearly eighty mil
lions Of dollars of insurance in force
upon the lives Of citizens Of this state
charging adequate rates? Can they
fulfill their sacred obligations to the
widows and orphans who are to be?
Shall the history Of cheap Insurance.
with all of the disappointment and
dismal failure that have been wrought
in Its name. profit US nothing?
Many people are of the opinion
that only comparatively small por-
tion of life insurance in this country
it going to the old line companies.
But this is not the case. Take our
own state. for example. On, Dec. 81.
1911. the forty legal reserve life in
surance companies doing business in
North Dakota had $61.259.729 of in
surance in force herein. while on the
same date the thirty-four authorized
fraternals had $77.o74.577 Of insur-
ance in force in this state. There is
the premium rate charged by the
legal reserve companies. 1t 10 equally
as important that there should be no
question as to the adequacy Of the
rates of contribution charged by fra
ternal benefit societies. They can
charge adequate rates and still have q
substantial advantage over the old
line companies because Of the loyalty
and cohesion Of their membership.
coupled with the fact that 1t costs
them less to get the business on the
books than it does the old liners
1.-The Mobile Bill was introduced as
a uniform measure in the legislatures
of some thirty states two years ago.
and was enacted in sixteen Of them.
1t failed Of enactment In North Dako.
Ia. not on the question Of its intrinsic
and clear understanding OF tho i'm
perative need Cor such measure. In
view of the unqualified endorsement
which has been given the Mobile Bill
by all of the leading fraternalists of
the country. its enactment by the
Thirteenth legislative assembly Of
North Dakota should be a foregone
conclusion. I can conceive Of no
antagonism to the measure which IL
informs tion."
In addition to the annual report
herein required. each society shall an
nually report to the Commissioners a
Of its certificates in force on
December 81. last preceding: exclud.
ing those issued within the year for
which the report Is filed. In cases
where the contributions for the first
year in whole or In part are used for
current mortality and expenses; pro-
vided. the first report of valuation
shall be made as Of December 81,
1912. Such report OF valuation shall
show. as contingent liabilities. the
present mid-year value Of the prom
ised benefits provided In the consti-
tuition and laws Of such society under
certificates then subject to valuation: