Western Carolina Democrat and French Broad hustler. [volume] (Hendersonville, N.C.) 1913-1915, 1913-06-05
ABOUT LEGISLATIVE MATTERS.

I city oritown in the State, or mortgage
on real estate. This law will give
protection to the parties who patron.
ize this class of Insurance, and will
prevent many of these associations
from being run purely for the beneflt
of those who manage them. There is
also another law affecting associations
and societies of this character which
requires that there shall be stamped
on the policy or contract they issue
the words Assessment Insurance"
: Rate Making.
A bill introduced by Senator Bridg-
ers puts all rate making associations
or bureaus operating in the State un-
der the supervision of the Insurance
Commissioner, and he is required to
examine them and look into their
methods just as he does the work of
insurance companies. This is far
reaching in it's effect and is the only
law that has. ever been placed on our
statute books affecting rating bureaus.
Organization of Insurance Com oanieS.
Under a bill introduced by Senator
Hobgood companies being organized,
as we'll as corporations promoting
them or acting as holding companies,
are placed under the supervision and
control of the Insurance Commission
er. The effect of this law will be to
require proper care in the organiza-
zation of all insurance companies in
this State, and will prevent in some
cases promoters from entering the
State, selling stock to our citizens,
taking a heavy compensation there
for, and then leaving the citizens with
the bag to hold" when the company is
organized. =
Qualification of Agents.
A law was placed upon our statute
books in regard to the qualification of
insurance agents in this State, and
makes it the duty of the Insurance
Commissioner to pass upon them, and
gives him the right to refuse to grant
a license to or cancel one already is
sued to them for violation of the in
surance laws, or improper conduct, or
for lack of proper character. This
upon the Insurance Commits
a duty which it has been doubt
full whether he possessed before. that
Is. whether he could refuse to license
an agent when applied for by a COM
Dany, or cancel an agents license for
improper conduct
Investment Companies.
By a bill introduced by Representa-
tive Kellum practically what is known
the kansas Blue Sky Law" was
added to section 1905 of the Revisal of
1905. The new law was made to ap-
ply only to foreign companies. The
of this law to section 1906 en-
the commissioner to prevent
by promoting companies, or
selling or offering to sell stock.
Much money, has been saved to the
State by the enforcement of section
1905, and, of course. much more will
De saved with this new law.
Accident and Health Policies.
The uniform standard form of poll
~ for accidental and health contracts
ion OF Insurance Commissioners has
been adopted. This makes a decided
Improvement in this class of contracts.
FFaternal Orders. I
Two bills introduced by Senator
7harr apply to fraternal orders or So
One bill applies to societies
contracts for benefits less
han $500, and designates them as.
'fraternals orders" and keeps them
lnder practically the same law here
ofore enforced. The other bills is
What is known among fraternalists as
he uniform. or Mobile bill. This bill
to societies paying benefits or
800 or over and designates them as
Benefit Societies" This
aw also provides that neither class
hall in this State associate together
the white and colored
aces, and requires them to operate
the lodge system with a repre-
entative form of government.
Inter-Insurers. ~ /.
A bill introduced by Mr.. Long, Of
Alamance, provides for the supervi-
ion and regulation of persons and
Operations doing business on the CO.
perative or inter-insurers plan, and
flows citizens and corporations in
his State to engage in the business /.
it'll exchanges licensed under this act.
his act will, if the managers of these
.changes live up to their agreement,
ring into the State legally the big ex-
hanges now operating in Kansas City
nd other Western cities. and give the
tate the revenue on this class of bust
SSS. Md~uy VI IuO 1d1 SOoI A1AuAoS-
lrers have been giving their insur-
nee to these concerns, and thus de-
irving the State of the taxes. An
Their bill that will bring into the
tate many companies nov operating :
in the State is the n allow
lg mutual companies combining their s
usiness to one class of insurance. to :
perate in the State for an annual :
cense of $1O0. Nine of these compa-
les have already entered the State,
nd are among the best mutuals. be- {
lg known as the Senior mutuals,"
18th headquarters located in the New
ingland States.
Of course, it will take the commits
Toner some time to get all the new
in proper shape, published and
attributed, but that their effect, will
e seer in the insurance business in
be State may we'll be presumed. The
legislature made a decided advance
4 it's insurance legislation which