Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1913-05-09

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tsrlninias ti,s amount
D q Esoald s. Di1ss ahali "a.
mate the insnrances 81 any sibaeriber WIN. re-
rsssfds sucS RUE. or 81 osieit
az premiums previouslys paid by. him'S D .sv.
.5. ~ e e: Dsy
Tor the payment Of Aasse1smentsa then Qr there-
after made 81 the Board q Directors to make
Up deneiencies existing 1T the tionss q
Sec. IL Every such ompany snsi eh.rEe
ands collect. on each policy 9 premium ~ "a
cy Issued and snail also IL
laws and specify u its policies the maximum
the payment Of losses. and expenses not pro-
yided for by its cash fund. The ntingent
liability q. 9 member shall not be- less than
premium nor moro than sum equal to and
In addition to one annual premium nor more
Of such snnual premium in or. II ease 81 =
policy written for less than 4 one year, Y the
continent Liability shall not exceed the
shall be plainly and leEibly stated upon each
..The maximum contingent liability Of the
policyholder under this policyais $-.''s y.
Sec. -, The Board OF Directors shall de-
subscribers OF the Association shall pay: for
their insurance. in accordance with the nature
OF the business In which such subscribers are
engaged. and the probable risk of injury to
their employees under exciting conditions. and
they shall fix premiums at such amounts as
the association to pay to Its subscribers
all sums which may become due and payable
to their employees under the provisions Of law.
ness of the Association. In fixing, the pre-
MUM, payable by any subscriber. the Board of
of the plant. work room, shop, farm or prem
81 Of those to
such Board. ana they may from time to time
chang. the amount Of premiums payable by
require, and the condition Of the plant, work
scriber in respect to the safety Of their en-
the premiums of any subscriber neglecting
to provide safety devices required by law. or
o
the provisions Of Section II Of this act. No
policy OF insurance issued by any subscriber
In cash the premium so nxed and deter
n'i Sec. H. The Board Of Director. NAV .;d,-
vide the subscribers into groups in accord
ance with the nature OF their business and the
probable risk Of INJURY therein. In such case
ments, and determine and pay all dividends
by and for each group in accordance with the
bs but al the
claim against the Association; provided. how
ever, that las between the Association and its
gent liability Of the members Of other groups
shall be exhausted. the general funds of the
Association and the contingent liability of
the members Of other groups shall not be
available for the payment OF losses and ex-
penses incurred by such group in excess Of
thereof. - 1855. .
Whenever the liabilities. including unearned
premiums and such other reserves as are or
may be required. by law and the Insurance
Commissioner. are in excess Of the admitted
assets computed on the basis allowed for its
ment upon its policyholders, said assessment
to be based upon the amount Of one annual
premium MUM, as written in the policy and not
iums. ,A--. Is.. r - ~
1t becomes necessary to levy the as
icies shall be issued until the admitted as
sets s. ct the association are in excess Of its
Sec. Is. A statement Of any proposed pre-
mium assessment, dividend or distribution Of
subscribers into groups shall be filed with
: Sec. 1e II any officer Of the ASSOCIATION
shall falsely make oath to any certificate re-
quired to be. filed with the Commissioners
Sec. i. ANY. subscriber Of the Association
who has complied with all its rules and
Written notice to that eject. sent el BY suc eH
subscriber by registered mail to the Asso-
citation. and such withdrawal shall become
et1ectlve on the first day of the month imme-
diately following the tenth day after the re-
cetpt OF such notice. but such withdrawal
shall not release such subscriber from lia-
after made by the Board Of Directors to
make up deficiencies existing at the date Of
his withdrawal. and such subscriber shall
be entitled to- his share OF any i dividends
earned E9e at at the date of hls withdrawal.
keep invested all its funds OF every descrip-
in the transaction of its business. in ac-
cordance with the laws Of this state relating
to tho Investment of funds Of domestic insur-
Sec. 10. No such association shall pur-
BY seeiea ns%s
Sec. 90 Any mutual employers liability
insurance association Of ANOTHER state upon
compliance with all laws governing such cor
Of 3sos snd t 3 s gsc
visions Of this act. may be admitted to trans
act business in this state. Such association
fees prescribed by Section 8. Chapter ss8
Whenever the contracts of insurance issued
gate less than five thousand employees. the
assured shall forthwith notify the Commission
err of Insurance Of such fact. and If, at the
expiration of six months from said notice. the
aggregate number Of employees covered BY
said contracts Of insurance shall be less
than FIVE thousand the commissioner Of in
ISOLATION and shall petition the district court
for the appointment Of receiver for the
purpose Of winding up it, affairs. i
in force from and after Its passage sage anu @
Approved March q. 1913. 1s.E., -.
CHAPTER 1873 F. No. 41e. 81 n
in&