The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1913-03-01
published in The Topeka State Journal
March l, 1873

SUBSTITUTE FOR SENATE BILL
NO. 81.
AN ACT concerning fraternal beneficiary
societies, orders and associations.
Be it enacted by the Legislature of the
State of Kansas.
Section /. That any fraternal bene-
state of Kansas is hereby authorized to
consolidate or merge with or transfer It's
members to or reinsure its members with
any other similar organization authorized
to do business in this state.
Sec. 2. To effect such consolidation,
merger, transfer or reinsurance. it shall
templated in section l of this act, to file
with the Superintendent of Insurance d
copy of their contract, signed by the
president and secretary, or corresponding
officers, of the contracting organization,
together with a sworn statement of the
financial condition of each. Such contract
insurance of all the members of both Or
ganizations, provided. the consolidated or
ganization or the organization TAX over
the members shall have the same defense
to any certificate that the organization
had which issued the same. Such con-
tract shall provide for its ratification oy
an affirmative vote of the majority of the
members of the supreme legislative boCy
of such organizations to be sent, in writ
ing, to the principal office and there
counted by the managing board OF Salfi
organization: or by any affirmative vote
of majority of the members of the su-
preme legislative body of such organiza-
ton, assembled in regular special ses-
sion and by an affirmative vote of a ma
jority of the beneficiary members of sucn
organization voting upon said proposition
II one of the contracting parties shall be
an incorporation of another state. the
Superintendent of Insurance shall require
satisfactory proof that such organization
has fully complied with the laws or such
other states.
Upon the submission of said contract
financial statement and proof of COM
pliance with the laws of the state of Its
Incorporation Gf one OF such contracting
parties be incorporated in another State)
the Superintendent of Insurance, If salts
fled that the consolidation, merger, trans
Ter or Tefnsuring is just and equitable to
tne members OF each of said organization,
shall approve said contract and notify the
respective parties to said contract of MS
approval, and said contract shall not be-
come effective until approved by the Sd
perIntendent of Insurance.
Sec 3. In any case where a fraternaI
beneficiary association has entered into Il
consolidation or reinsurance contract with
another fraternal beneficiary association
and such contract has already been sub
mitted for ratification and approval In
either of the ways provided for in section
of this act and has already been adopted
or ratified before the taking effect of this
act, the superintendent of Insurance.
shall. upon the filing of the contract and
statement provided for in section of this
application for consolidation the same as
provided for in said section without any
further reference vote being taken
thereon All consolidation and -einsuf-
ance agreements which have heretofore
been carried into effect between fraterEai
beneficiary associations with the consent
and approval of the Superintendent of IN
Surance be and the same are hereby legal
lied and made binding and effective.
Sec. This act shall be in force from