Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1913-04-14

and others interested therein agqlhst
loss by reason of membranes or defec-
tive titles.
II. TO insure against less or damage
to automobiles except loss or damage by
fire or while being transported i'll any
conveyance. either by land or water
including loss by legal liability for dam
age to property resulting from the
maintenance and use OF aatomonli .ts,..,
against loss or damage by water, cause
by the breakage or leakage OF sprlnkiefs'
pumps, water pipes. or plumbing ana ltS
fixtures and against accidentdl =lllAi y,
from other cause than fire or hshthlhs
to such sprnltlers, pumps, water pipes
plumbing aud fixtures. ,-
49, To insure against loss or damage
to property arising from accidents 20
elevators bicycles and vehicles, except
rolling stock Of railways dfom Other
causes than fire or lehtningt
Section 2 Section a. Such agreement
shall set forth the fact that the sub
scribers thereto associate themselves
with the intention to constitute COZ :
poration, the name by which II ShaIi De
known the class or classes of insurance
for the transaction of which It Is To be
constituted The plan or PPfh@ aans,p ep9h
the town or city in which II Is estab-
lished or located. and if stock
company, the amount of its capt
tai stock, and If mutual com
panv with guarantee capital, the
amount thereof. The capital stock o. d
stock company organized for any OF the
OurpOSpS herein1elQfe menEultd Sudll
not be less than one hundred thousand
dollars and a mutual company lncor-
porated to transact any class or KIND OF
insurance other than fire, marine or
plate glass shall have guarantee capl-
faI as provided in section foftX-three OF
chapter forty mine of the Revised stat
utes and holders OF certificates al SQeh
guarantee capital shall Hot receive diNl-
dends in excess of seven per cent. in
any one year. and in no case unless
such dividends are properly earned al
ter determining all liability as required
by the insurance commissioner Mutual
companies may be Incorporated to IRAN
sact fire. marine and plate glass fnsaf-
ance and may operate IN accordance
with the provisions of section twenty
seven, chapter forty-ninp OF the Revised
Statutes. and other Provisions OF the
laws of this State relating to such COM
panies. provided. that they shall eaaifhe
their business TO not moro than ten
towns; mutual companies may lneof-
porate for any of the foregoing pur-
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. dividend
not exceeding seven per cent. IN any
one calendar year may be paid from the
net earnings of the company after pro-
yidins for all expenses losses. reserves
and liabilities then insured Sueh guar
anty fund or capital shall be invested as
provided in section eleven. ehaptef
forty-nine of the Revised statutes ana
shall be deposited with the state treas
urer. When the cash and other avail
able assets of the company are eN-
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
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 the purpose of restoring sad
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 the
company over and above all liabhlties
guaranty capital shall equal or
exceed the amount of such guaranty
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. SAID
guaranty capital shall be retired when
the net cash assets of the company
equals twice the amount OF guarantee
capital.
Any mutual fire. marine or plate glass
insurance company which has estao-
lishea a guaranty capital as provided
herein and has obtained applications for
insurance as required by section forty
four of chapter forty-nine of the Revised
Statutes, shall be authorized by the in
surance commissioner to write business
and such company may take premium
note as provided in section twenty-seven
of chapter forty-nine of the Revised
Statutes or in lieu of said note it may
charge and collect a premium in casa
and by its bylaws and policies nix the
contingent mutual liability of its MEM
bers for the payment of losses and ex-
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
maximum liability of the company un-
der said policy. The total amount Of the
liability of the policy holder shall be
plainly and legibly stated upon the fling
back of each policy. Whenever any re-
duction is made in the contingent liabili-
ty of members such reduction shall ap-
ply proportionally to all policies IN
force ;-(Approved March u, 1881
Chapter 40.
An. Act to amend Section twenty-three
of Chapter eighteen of the Revised
Statutes. as amended by Chapter
twenty-six of the Public Laws or
nineteen hundred seven. relating to the
State Laboratory of Hygiene.
Section twenty-three of chapter eigh-
teen of the Revised Statutes, as amend
ed by chapter twenty-six 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
be 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 r. 1872
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 hooks, so called. when fishing in
the inland waters of this State" is
hereby epealed.-(Approved March i,
1879
Chapter az.
An Act to amend Sections eighty and
eighty-one of Chapter fifty-two of the
Revised Statutes relating to provisions
for safety in the management and
operation OF steam railroads.
Gaats ok n