« ՆախորդըՇարունակել »
promote science and aid in the diffusion of knowledge.
SECTION 6. An appropriation of two hundred dollars, . ppropriaannually, is hereby made for the next succeeding two years, to be expended entirely in making such surveys and collections of specimens of minerals, organic remains and other objects of natural history peculiar to this Territory.
SECTION 7. This Act shall take effect and be in force from and after its passage and approval.
Approved March 13, 1899.
AN ACT authorizing the insurance of growing crops of grain, stock
and farm buildings and grain in bins by mutual insurance com
panies, having paid up premiums at the time the insurance is taken. Be it Enacted by the Legislatire Assembly of the Territory
of Oklahoma :
Charter. thousand persons, farmers by ocupation, may be formed for the purpose of mutual insurance of growing crops of grain against loss by hail, of work stock against fire and lightning, and of farm buildings against fire, lightning or cyclone, under the following regulations to-wit: There
shall be a charter filed with the Secretary of the Territory showing the name of the association, the number of directors, the names of a president, secretary and treasurer and not less than five (5) nor more than thirteen (13) directors who shall hold office for such term as the bylaws of the association shall provide, but not for a less period than one year, except in case of removal for cause, and except that the first officers so named shall hold until the first election of said association, which may be held at
such time as the by-laws provide. Terms.
SECTION 2. The association shall exist for any time to be stated in the charter, not exceeding fifty (50) years, unless sooner dissolved as other corporations are by law
dissolved. Articles of as- SECTION 3. The articles of association shall be filed sociation, bylaws. with the Secretary of the Territory, thirty (30) days be
fore the business of the association shall begin, and with the articles shall be filed a set of by-laws for the government of such corporation which shall have been adopted by some general meeting of the members of said association, or their representatives, and which shall continue
in force until changed by the board of directors. Changes in SECTION 4. Changes in the by-laws not affecting out: by-laws.
standing insurance may be made by a majority vote of the stockholders at a regularly called stockholders meeting, or at a regularly called meeting of the board of directors, at which notice of such proposed change shall have been previously given thirty days. Such changes must be authenticated by the signature of the proper officers and the seal of the association, and be recorded in the proper record of proceedings of such association, and a duly authenticated copy of such changes shall be filed in the office of the Secretary of the Territory thirty (30) days before the same shall be valid. It shall be the duty of the secretary of the association to record such changes
upon the records of the proceedings of the company. Property insured.
SECTION 5. The association may insure grain in bins and stacks, growing wheat, rye, barley, frax, oats and
other crops, and may also insure milch cows, work horses, work mules and farm buildings against hail, fire, lightning or wind storms of any character, upon the payment of the premium in cash. The policy shall state the name of the owner and describe the land upon which the crop, stock or buildings are located, stating the number of acres of grain and the number and value per head of the cattle or work stock insured, and the number, description and value of the farm buildings insured. SECTION 6. No policy shall be for a larger amount Amount of
policy. upon farm buildings than one thousand ($1,000) dollars, nor for a larger amount of wheat than twenty (20) bushels to the acre, nor for a larger amount of rye or barley than fifteen (15) bushels to the acre, nor for more than twentyfive (25) bushels to the acre of oats, nor for more than eight (8) bushels per acre of flax, nor exceeding twentyfive ($25.00) dollars per head, for milch cows, nor fifty ($50.00) dollars per head for work horses or mules. No more stock shall be insured by any one person than six (6) milch cows and six (6) work horses or mules. No other stock shall be insured. No property shall be in. sured except that which is located upon farms.
SECTION 7. The association may, at its option, under Premium. the provisions of its by-laws, receive in cash not less than one-half the premium upon work stock or farm buildings, or not less than one-fourth the premium upon grain, and the remainder secured by a note payable on demand at any time during the continuance of the policy, when the board of directors of the association considers it nécessary to pay the losses and expenses arising during the continuance of the policy, said note being secured upon property to the satisfaction of the association. · SECTION 8. The premium upon grain insured shall be How applied applied to loss or damage upon grain, the premiums upon work stock shall be applied to losses upon work stock, and the premiums upon farm buildings to losses upon farm buildings. The expenses of the association shall be borne ratably by all the insurance, carried by the association.
Directors, SECTION 9. Election of directors shall be held an. nually at the principal office of the company.
Each member of the association shall have one vote at any election of the association, for not less than five (5) nor more than thirteen (13) directors, and the majority or plurality of the votes cast shall determine the election of any person. Votes shall be cast by the members present and by proxy. Said board of directors shall elect a president, secretary and treasurer, who shall hold office for a period of two years, or until removed by the
SECTION 10. Any person taking a policy of insurance upon grain, stock or farm buildings and paying a premium of one $1.00) dollar or more shall be deemed a member of the association for the purpose of such elec
tion for the time that his policy is to run. Vacancies in
SECTION 11. In case of a vacancy by death or otheroffice.
wise in the office of the president, secretary or treasurer, the board of directors are authorized to fill such vacancy, and no person shall be permitted to serve in either office
who at the time is not a policy holder. Officers, who SECTION 12. No person shall be eligible to election to ofeligible.
fice in the association unless he is a farmer by occupation, Meetings of
SECTION 13. The board of directors shall be subject to the call of the president.. In the absence or neglect of the president, the majority of the board may call. a meeting at the principal office of the association at such time or times as the by-laws may prescribe, but the board shall in no event meet less frequently than twice a year, of which times one shall be in the Spring and one shall be in the Fall of each year. At the Spring meeting a full and complete report of the condition of the association
shall be made. Prezident's
SECTION 14. The president shall preside at all meetduties.
ings of the directors, and perform such other duties as the by-laws may require, and he shall receive as full compensation a salary not to exceed four hundred dollars per annum. In the absence of the president the directors may elect a temporary president
SECTION 15. The board of directors, with the presi- Board of apdent, shall appoint a board of appraisers, to assess damages to property insured, at such time or times as the board may see fit, with the power to change the persons composing the board at such time or times as the directors may see fit. SECTION 16. The secretary shall keep correct minutes Secretary,
auties of. of the proceedings of the board of directors and keep the records of the association. He shall issue all notices, keep an impression copy of all letters sent, keep in proper letter books all letters received, receive all moneys and funds belonging to the association, keep a record of such moneys and funds and turn them over in the condition they were received by him to the treasurer of the association, taking the treasurer's receipt therefor upon his books of account; the record of such funds shall be kept in a book having stubs and the secretary's payment to the treasurer shall be upon warrants numbered in regular order, the stubs having corresponding numbers to the warrants, and the secretary shall take from the treasarer receipts numbered with the identical numbers of the warrants. The stub of the secretary's book shall show the date and amount and the source from which, and the purpose for which the money or other property was paid in. The secretary shall have charge of the clerical business of the association, subject to the direction of the board of directors, and he shall receive as full compensation a salary not to exceed nine hundred dollars per annum. SECTION 17. The treasurer shall receive from the ser. Treasurer,
duues of. retary and have custody of all moneys and funds arising from the assessments levied and such other moneys, funds and assets as may, from time to time, be received by the association, for its use or benefit. He shi ll keep an exact account of all moneys, funds and property, and all moreys paid out by the association shall be paid out by the treasurer, upon warrants in the form of checks, stating fully to whom they are paid and the purpose and the claims upon which paid; each warrant shall be signed by the secretary and countersigned by the president of