The Owosso times. (Owosso, Mich.) 1897-1926, 1921-04-01

Notice OF Adjourned Meeting OF th,
Shiawassss Mutual Fire
Insurance Company.
Notice is hereby given that meeting
OF the members OF The Shiawasse,
Mutual Fire Insurance Company will
be held at the Court House In the City
Of Corunna, on April 9th. 1921, two
O'Clock p. m, for the purpose of the
adoption or rejection of the report oil
the committee appointed at the last
regular annual meeting of said Com
pany, for the purpose of revising and
extending the Charter and By. Laws OF
the Company.
| Your committee would unanimously
recommend that the Charter and By
Laws under which said Company IL
organized and operated. be, and Is
hereby extended indefinitely, or until the
same is altered or changed by Court
having jurisdiction, or by vote Of The
Shiawassee Mutual Fire Insurance
Company, legally called.
We would further reco nmend the
changing: of several sections Of the
Char ter to read as follows:
Section 8. 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
ing 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. NJ,
and two o'clock p. m, as 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 Is. Said Company Is formed
and shall be conducted for the mutual
insurance of the property of it's men,
bers and rural schools, rural churches
and town houses, against loss by fire.
esAo hO osaOh pAOROAey ohohk 10 AhouACbt
except the dwelling houses, buildings
uated upon or used on or about their
with the stacks of hay and grain upon
said farm, provided, however, that
where the property insured consists of
buildings or personal property other
than farm property or dwelling houses,
4 Id Tkn
one risk on either OF said classes Of
property assumed by this Company
organized under the provisions of the
charter shall not exceed 81, 000.09.
Section 10. Any person may here.
after become q 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 other respects comply
ing with said Charter and BYLAWS of
sain Company; but all propositions and
agreements for insurance shall be sub
ject 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
due. or justly to become due from such
member to the Company.
,1ok:1,. Eyn-~ ,~a,eo,. 49, LoooxuD
ing a member of said Company as afore.
said, shall pay to the Company the fol.
lowing sums: A membership fee of
$l.00, a policy fee of fifty cents and a
premium of one dollar on each one
thousand dollars insured.
Section 10. The Board of Directors
shall. in the month Of January Of each
year, make an assessment upon the
members of said Company to pay the
losses and the necessary expenses of the
Company, and to be made on the prop
erty at risk on the 3lst day of Decem.
Der previous Should the said assess
ment be insufficient to pay the losses
during the year, the Board of Directors
may, il they deem 1t necessary, make
an extra assessment upon the members
Of said Company for the purpose 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 should
be in the Secretsry.T Treasurer hands on
the first day Of January Of any 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 1t for the
best interests of the Company to do
So Provided further, new members
shall not be subject to assessments for
a period of three months from date of
application for membership.
Section 30. 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 %. The Directors Of said
Company shall receive compen-s.
ton at the rate of not more than three
dollars per day. and six cents per mile
necessarily travelled.
Section IS. Any member of said Com
psny may use any motive power
about his or her buildings insured sub
ject to the by laws Of the Company.
Section g. An assessment roll signed