Mexico weekly ledger., 1922-10-19

%AAa 49, ~ 80
insurance fund, the manager of the said
fund or other officer to whom c power
and authority may be delegated by the
commission, as provided by section IA
hereof, shall have fun power and au-
thority-
ID To enter into contracts Of insur-
ance, insuring employers against liability
for compensation, and insuring to en-
ployees and other persons the compensa-
ton ixed by this act.
sation benefits.
(3) To decline to insure any risk in
which the minimum requirements of the
commission with regard to construction,
equipment, and operation are not observed
o. which is beyond h safe carrying Of
the Missouri compensation insurance fund,
but shall not have power. or authority,
except as otherwise provided in this sec"
ton, to refuse to insure any compensation
risk rendered with the premium therefor.
az To reinsure any risk or any part
thereof. Provided, however, that any con-
tract Of reinsurance n any reinsurance
carrier shall first be approved by the SUI
perintendent Of insurance.
(5) To inspect inc audit, or cause to
W AaAN ANANSA viz P15 SA0 "a
employers applying for insurance against
liability for compensation.
(6) To make and enforce rules and
regulations for the investigation and set
Element of claims against such fund and
to determine to whom and through whom
the payments Of compensation are to be
made.
"a To contract with physicians, sur
geons and hospitals for medical and sur
gical treatment and the care and nursing
of injured persons entitled to benefits
from said fund.
Sec. II. (a) 1t shall BE the duty of
the commission to fix and determine the
rates to be charged by the Missouri COM
pensation insurance fund for compensa-
ton insurance coverage as herein pro-
vided, and such rates shall be fixed with
due regard to the physical hazards of each
industry, occupation, or employment, and,
within each class, SO far as practicable, in
accordance with the elements of bodily
risk or safety or other hazard of the plant
or premises or work Of each insured and
the manner in which the same is con-
Quoted. together with a reasonable regard
for the accident experience and history
of each such insured, and the and
methods of caring for injured persons hut
such rates shall take nos account Of the
extent to which the employees in any
particular establishment have or have not
persons dependent upon them for support;
(b) The rates so made shall be that
percentage Of the pay roll Of any employ
er which, in the long run and on the
average, shall produce a sufficient sum,
when invested at three and one-half per
cent interest:
~ To carry all claims to maturity;
that is to say, the rates shall be based
upon the reserve" and not upon the
Assessment" plan;
(2) To meet the reasonable expenses
of conducting the business of such insur-
ance, which shall not exceed ten per cent
of the earned premiums;
[3) To produce a reasonable surplus to
V the catastrophe hazard.
(c) Nothing in this section shall be
construed as exempting the rates so made
from the operation of section 20 of this
act.
Sec. 7S. Every employer accepting the
provisions of this act may insure his liza
bility hereunder with the Missouri COM
pensation insurance fund, subject to the
provisions hereof and to such rules and
regulations as may be prescribed by the
commission or under its authority. The
| 10 IllSC dSlG gu lIlo W
the Missouri compensation insurance fund
n persons i~nsuring herewith may be
either limited or unlimited and issued for
one year, or, in the form Of stamps OF
tickets or otherwise, for one month oil
any number of months less than one year
or for one day or for any number of days
less than one month or during the per.
Torrance of any particular work, job. Of
contract: Provided, that the rates charged
shall be proportionately greater for 6
shorter period than for q longer period
and that a minimum premium charge
shall be fixed in accordance with a rea-
sonable rate for i~nsuring one person FOL
one day. Nothing in this act shall BIZ
construed to prevent any person applying
for compensation insurance from being
covered temporarily until the application
is finally acted upon, or to prevent the
insured from surrendering any policy al
any time and having returned to him the
difference between the premium paid anC
the premium at the customary short tern
for the shorter period which such polict
has already run. The Missouri compen.
sation insurance fund may at any tim,
cancel any policy after due notice. upon
pro rata basis Of premium repayment.
Sec. 70. The Missouri compensation in,
surance u may issue policies. includ
ing with their employees employers VIII
perform labor incidental to their occupa
tions, n including also members of tn,
families of such employers engaged in TIL,
same occupation, such policies insuring t.
such employers and working members o
their families the same compensation pro
vided for their employees. and at sam,
rates: Provided, that the estlmations O
their wage values, respectively, shall b,
~'reasonable and separately stated in ant
added to the valuation of their pay roll!
upon which their premium is computed
Such policies may likewise be sold to self
employing persons n to casual EN-
ployees who. for the purpose of such in,
surance, shall be deemed to be employees
within the meaning of the act.
Sec. 80. The treasurer of the stat,
shall be custodian of all moneys and Sc
c~urities belonging to the Missouri com
p~ensation insurance fund. except al
otherwise provided in this act, and shall
be liable on his official bond for the SAT
keeping thereof. All moneys belonging
to said FUND collected or received by TIL,
commission or the manager Of the Mis-
souri, compensation insurance fund, un
der and by virtue of the provisions o
this act, shall be delivered to the treas
ury of the state or may be deposited t,
his credit in such bank or banks through
out the state as he may, from time t.
time, designate. and such moneys whei
so delivered or deposited shall be credite,
by the treasurer to the said fund and NJ
moneys received or collected on accoun
of such fund shah be expended or paii
out of such fund without first paying int,
the hands Of the state treasurer and be
inr drawn therefrom ms Drovfdad In thi