The Owosso times. (Owosso, Mich.) 1897-1926, 1921-03-25

of the members of The Shaw assoc
Mutual Fire Insurance Company will
be held at the Court House in the City
of Corunnas on April 9Th. 1921, two
O'Clock p. m, for the purpose of the
fadoption or rejection of the report of
the committee appointed at the last
regular annual meeting of said Com
psny, for thef purpose of revising and
extending tho Charter and By Laws Of
the Company, -.
Your committee would unanimously
recommend that the Charter and By
Laws under which said Company is
organized and operated. be, and is
hereby extended indefinitely, or until the
ssmeis altered or changed by a Court
having jurisdiction, or by vote Of The
Shiawessee Mutual Fire Insurance
Company legally called. 3
We would further reco nmend the
changipg,.sof several sections of the
CHARTER to read as follows:
Section. The officers of said Com
pany shall be, President, Vice Presi
dent, Secretary Treasurer, one or more
collectors, ard Board of Three Direc-
tors, of which; number the President
and Secretary shall exofficio be two,
and such other officers as said Company
shall at any time deem necessary to
have or appoint
Section 8. The regular annual meet
ling Of said Company shall be held on
the second Thursday after the first day
of January in each year at the County
Seat of said County, and at such hour
between the hours of ten o'clock a. III
and two o'clock p. M /, rs the Board of
Directors shall appoint, Of which meet
ing reasonable notice shall be given in
such manner as may be prescribed by
the by laws, and such meetings may be
adjourned from day to day, or from
time to time, as may be- necessary, until
the business. thereof shall be fully com..
pleted.
Section.l6, Said Company is formed
and shall be conducted for the mutual
insurance of the property of its mem
bers and rural schools, rural churches,
and town houses, against loss by fire,
and no other property shall be insured,
except the dwelling houses, buildings
and personal property of farmers, sit
uated upon or used on or about their
farms or business Of farming together
with the stacks of hay and grain upon
said farm, provided, however, that
where the property insured consists of
buildings or personal propertys other
than farm property or dwelling houses
and their contents. The amount of any
one risk on either of said classes of
property assumed by this Company,
organized under the provisions of the
charter shall not exceed So, 000.09. 4 ~ 4.
Section 16 Any person may here,s
after become member of the Company
who owns property in the County of
Shiawassee, and by applying for .insur
ance upon said property and entering
into written agreement therefor with.
said Company as required by law, and
by this charter, and by the bylaws of
said Company. which agreement shall
be entered and kept in the books of said
Company, and in othsffespects comply
ing with said Chartef and BYLAWS of
sain Company; but all propositions and
agreements for insurance shall be sub;
iect to the approval. acceptance or
rejection, by the President or Secretary
of said Company. Any member may
withdraw from said Company by re-
turning his or her policy to the Score
tary, and by paying all assessments
made, or liable to be made by previous
losses, and all debts and claims then
drouruerrtU tine COMPANY .s,e,@
section IS. Every person on becom
ing member of said Company as afore.
said, shall pay to the Company the fol.
lowing sums: A memberships fee of
81 90, a policy fee of iftyscents and a
premium of one dollar on each q ne
thousand dollars in, ured
Section 10. The Board or DIRECTORS
shall in the month ,ofJapuary of seach
year, make an assessment upon the
members of said Company to pay the
losses and the necessarysexpenses Of the
Company, and to be made on the Drop
erty at risk on the 3lst day sof Decem.
Der previous Should the said atsess-
ment be insufficient to pay the losses
during the year, the Beard Of Dirtctors
may, If they deem III necessary make
an extra assessment upon. the meGhbers
of said Company for the phfpdse of
paying said losses, providing, that no
assessment shall exceed three mills on
the dollar on the amount at risk. and
provided further, that If there bhould
be in the Secretary Treasurer's hands on
the first day of January 6fsany year a
sum sufficient to pay the probable losses
for the'space of six months, then the
Board Of Directors shall not make an
assessment until they deem it for the
best Interests Of the Company to do
80 Provided further. new members
shall not be subject to assessments for
period of three months from date of
application for membership,
Section 20. The Secretary Treasurer
shall receive all moneys paid to him by
any of the officers of said Company,
and pay the same out on the order of
the Board of Directors.
Section 90. The Directors of said
Company shall receive compensa.
ton at the rate of;f6b more than three
dollars per day, and SIX cents per mile
necessarily travelled. s
Section %. Any member of said Com
pany may use any motive power
about his or her buildings insured sub
ject to the by laws Of the Company.
Section 90 An assessment roll signed
\. II -. : = 49,. 49, A