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Mutual Fire Insurance Companies

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Parent Issue
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OCR Text

A oonvontiou of Mutual Firo Insurance Oompaniea was htld at Lunsing on the 25th uit., at whioh the following resolutions wore adoptcd : R, toltied, Thuta uiiiformity in the charter of tho Farmers' Mutual Fire Insuranco Companies oí tlio State is desirablc. fi .-'■■■i,l, That the Oommiasioner of InBuranoe bo requested to examino the charters of our sevoral oompanies, and embraüing thu bost features in each, report a i'urm of charter for thu considoration oí said corapanies as woll as otheis horeaftur organizing. Resolved, That thu interests of our mutual oompanios will be burt subeerved by thu oloction of a oompetent Board of Direoiors, to be clussifiod ; and witli power to organizo theniselves by the oloction of Moderator, Secrotary and Treasorer, and to adopt by-lawa, and who shall have a general firluciary supervisión of the íinances of tho conipiiiiy. Jíisohed, Thatitia desirablB that assessments be made in antiuipation of loases, and whon collcctod be investod so as to bavailable on short notice, thus saving tho expense and annoyanco of frequent assussments, and affordjng n continual readiuuss to pay losaos asjsoou as adju.tud. Renohed, That all assessmonts should bo paid within thiriy days, and thirty days gracfi be allowed thoreafter, and the pol ei :s cf all dolinquentábitui:efid.d at the uxpiration of (50 days, subject to restoratiou wheñ paid. Rcvilced, That dainage to buildings by lightning is a projjer hazard to assumo, whothorfire rosult or not. Hewhed, That when any of our Mutual CompuTiies becomo involved in litigation tluit is of mutual iuterest to all others, such liligation should be madu a coinmon cause. Betohtd, That a system of book-keepiiiff should bo adoptod by which tho condition of tho coinpany may bo known at uiiy íLioiuíüit, it8 capital, membership, assots, the condition of its treasur'y, etc. liiwhed, That the intorests of Insurance Companies require and should demand a mjro stringent lawas aprotection against railroad iires, and that the Coiuminsioner should adopt somo concertod action to be presented to our respective companies with a view to bring the subjjet before tho Legislaturo at its nxt sessjon. The Washteniiw Mutual was represen tod by Mossrs. Sheldon and Caepenteu.


Old News
Michigan Argus