The Birmingham age-herald., 1915-10-23
JOHN PURIFOf,
 Secretary of State.
AN ACT.


 No. 2s0.) (S. 273. Green Authorizing and regulating certain
 classes of indemnity contracts, em-
 towering corporations to make such
 contracts and fixing certain fees and
 the penalty for violations thereof. Be 1t enacted by the legislature of Ala
 bama.
 Section 1. Individual, partnerships and corporations of this state. hereby designated subscribers, are hereby au- thorized to exchange reciprocal or in- ter-insurance contracts with each oth- CT, or with individuals. partnerships and corporations of other states and countries, providing indemnity among themselves from any loss which may be insured against under other provis- ions of the laws, excepting life insur- ance.
 Sec. g. Such contracts may be executed by an attorney, agent or other repre- sentative, herein designated attorney, duly authorized and acting for such subscribers. The office or offices of such attoriey shall be maintained at such place or places as may be desig- mated by the subscribers in the power of attorney.
 See 3. Such subscribers. so contract ing among themselves, shall through their attorney. file with the commits CT of insurance declartion verified by
 
 such attorney is corporation, by the oath of the chief officer thereof, setting forth: (a) The name or title of the of flee at which said subscribers propose to exchange such indemnity contracts. Said name or title shall not be so sIni- lar to any other name or title previously adopted by similar organization. or by any insurance corporation or asso- citation. as In the opinion of the com missioner of insurance is calculated to result in confusion or deception. The office or offices through which such indemnity contracts shall be exchanged shall be classified as reciprocal or in- ter-insurance exchange (b) The kind or kinds of insurance to be eIected or exchanged. Co A copy of the form of policy contract or agreement under or by which such insurance is to be ef- fected or exchanged. (d) A copy of the form of power of attorney or other authority of such attorney under which such insurance Is to be effected or exchanged. (e) The location of the office or offices from which such contracts or agreements are to be issued. (f) That applications have been made for indemnity upon at least seventy-five separate risks, az gregating not less than one and one half million dollars. as represented sby executed contracts of bona fde appli-
 
 tive, or, in case of liability or compen- sation insurance, covering a total pay roll of not less than one and one-half million dollars. (g) That there is on deposit with such attorney and avail able for the payment of losses sum of not less than twenty-five thousand dollars.
 Sec 4. Concurrently with the filing of the declaration provided for by the terms of section 3 hereof the attorney shall file with the commissioner of in- surance an instrument in writing. ex- ecuted by him for said subscribers. con- ditioned that, upon the issuance of cor tificate of authority provided for in section 10 hereof, service of process may be had upon the commissioner of insur- ance in all suits in this state arising out of such policies. contract or agree ments, which service shall be valid and binding upon all subscribers exchang- ing at any time reciprocal or interim surance contracts through such attor ney. Three copies of such process shall be served. and the commissioner of in- surance shall file ono copy. forward one copy to said attorney. and return one