Mexico weekly ledger., 1922-10-19

and premium rates relating thereto with
its system Of schedule rating Tor merit
rating ~so-called), II any. The superin-
tendent then shall hold a hearing to de-
termine upon a uniform classification Of
risks and premium rates relating thereto.
and in his discretion a uniform system Of
schedule rating Cor merit rating. So
calledl. Within sixty days after his Sec
ton becomes effective. the su~perintend-
emit h approve or issue as fair. rea-
sonable and adequate for all insurance
carriers or groups of carriers, authorized
by law to transact liability or compeusa-
ton insurance business in this state. q
uniform classification Of risks and pre-
MUM rates relating thereto. and may in
his discretion approve or issue a system
OF schedule rating (or merit rating So
calledl which shall be a uniform system
Of schedule rating Tor merit ra-ingf So
called) for all such Insurance carriers.
TIL superintendent may subsequently APP
prove or issue a uniform system Of sched-
uIe rating Tor merit rating so-caIledl for
all insurance carriers. or may modify or
change any such system previously APP
proved or issued after holding a hearing
to determine fits effect upon the fairness.
reasonableneRs. adequacy or unfairness,
u~nreasonableness or inadeuuacy OF rates
and may approve or issue additional uni
form rates and ~classiications or uniform
changes III rates CT CfdSSlllcdIlOHS dttcf
holding a hearing to determine upon the
fairness. reasonableness, adequacy or un-
fairness. unreasonableness or inadenuacy
of such additions or charges. No insur-
ance carrier or group of carriers shall
issue, renew or carry insurance for en-
ployers or employees as provided In this
section at premium rates which are less
thar the rates approved or issued by the
superintendent for all insurance carriers
or groups Of carriers as fair, reasonable
and adequate for the risk TO which they
respectively apply; provided. however.
that II the superintendent shall have
previously approved or issued a uniform
system of schedule rating Tor merit rating
so-caIled), insurance carriers may apply
the same to any risks subject thereto, but
basic rates no less thar the rates previ-
ously approved or issued by the superin-
tendent, and any additions thereto or
reductions therefrom on account of the
application of such system Of schedule
rating Cor merit rating so-called) shall be
clearly set forth in the insurance con-
tracts or endorsements attached thereto:
and provided. however. that nothing con-,
tanned in this section shall affect the
right of any insurance carrier or carriers
to issue participating policies or to pay
savings or dividends actually. earned or
saved; and provided further. that the
provisions Of this section as to rates and
classifications shall not apply to employ
ers who provide among themselves insure
ance or indemnity against liability under
this act, or the reciprocal, inter-insurance
or mutual plan, except that the classic
cation shall be approved by the superin-
tendent of insurance and hat the rates
for such insurance or indemnity shall
not be less than the rates approved by
the superintendent Of insurance as suf-
ficient to provide for the payment of the
compensation provided by this act.
Section 30. No Insurance carrier SHIN
write any insurance against liability here
under unless 1t maintains such reserves as
are required by law, or In the absence
thereof such reserves as may be required
by the superintendent of the insurance
department, the power to require and
regulate which is hereby vested in said
superintendent.
Section 81. Every insurance carrier
writing insurance for liability hereunder
or the liability Of employers rejecting this
act, shall report to the superintendent Of
the insurance department, in accordance
with such rules as he may adopt, such
information as he nay at any time re-
quire for the purpose of determining the
solvency of the carrier or the fairness,
reasonab1eness and adequacy of it's rates,
and for such purpose the superintendent
may inspect the books and records Of
such carriers and examine its officers.
agents and servants under oath.
Section 80 For any vic alton Of the pro-
visions of this act the superintendent of
the insurance department may suspend or
revoke the authority of any insurance
carrier to do business In this state. If any
insurance carrier fails or delays to pay
any compensation finally determined to be
due, the superintendent shall hear the
1 -~A a. -,,NL ~gI... t. ~
reasonable excuse he may revoke or
suspend the authority of such carrier to
do business In this state, and in q proper
case may apply for the appointment Of o
receiver for same.
Section SO. Any employer or group OF
employers may enter into or continue any
agreement with his or their employees to
provide a system of compensation benefits
or insurance In lieu of the compensation
and insurance provided by this act. Such
substitute system and insurance shall be
subject to the approval of the supcrin-
tendent of the insurance department and
shall not be approved by him unless they
confer benefits upon injured employees or
their dependents at least equivalent to the
benefits provided by this act, nor If they
require contributions from employees, un-
less they confer benefits in additton to
those provided under this act at least
NEUTRALITY-SUSPICIOUS. VIII SUCH C~OnLTIBuLlDTl.
Appeals shall lie to the commission from
any decision, award or order made by or
under such substitute system. Such sub
stitute system and insurance may be-
terminated by the superintendent Of the
insurance department on reasonable notice
and hearing to the interested parties, if it
shall appear that the same is not fairly
administered, or If it's operation shall dis
close latent defects threatening its solys
ency or If for any other su pstantial rea-
son it fails to accomplish the purposes OF
this act, and in this case the superin-
tendent of the insurance department shah
determine upon the proper distribution Of
all remaining assets. If any, subject to
the right Of any party in interest to have.
such action reviewed by a court Of cons
petent jurisdiction.
Section "a, Every employer in his state,
whether he has accepted or rejected tho
provisions Of this act, shall within teri
days after knowledge of such accident
notify the commission thereof, and shall.
within one month, file with the commits
sion under such rules and regulations and
bin such form and detail as the commission
may require, a full and complete report OF
every injury or death to any employee for
which the employer would be liable to-4ur-
nish medical aid or compensation hereu1-
der had he accepted this act, and every
such employer shall also furnish the cem-
mission with such supplemental reports
in regard thereto as the commission shall
require. Every such employer and his
insurer, and every injured employee, his
frdependents and every person entitind Ia