Vernon's Mcilwaine's Pocket Digest of Texas Laws, Annotated 1912

Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: authorized governing body of the association has, by resolution filed with the commissioner of insurance and banking, duly empowered to make such application; and all such certificates shall be revoked by the commissioner, upon the request of the association, and may be revoked for cause upon like ground...
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Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: authorized governing body of the association has, by resolution filed with the commissioner of insurance and banking, duly empowered to make such application; and all such certificates shall be revoked by the commissioner, upon the request of the association, and may be revoked for cause upon like ground and in like manner as the certificates of authority of agents for life insurance companies under the laws of this state. All such certificates shall be renewed anmial- ly, and shall expire on the last day of February of each year, and a fee of one dollar shall be paid for the use of the state for the issuance of each such certificate. (Id. sec. 33.) Art. 4859. Local companies exempt from chapter shall file statement.?The provisions of this chapter shall not apply to incorporated or unincorporated mutual relief, or benefit, or burial associations, operating upon the assessment plan, whose business is confined to not more than one county in the state, or to a territory In two or more adjacent counties included within a radius of not more than twenty-five miles surrounding the city or town in which its principal office is to be located, which is designated in its charter, which are hereby denominated local mutual aid associations, providing that such associations are In no manner, directly or Indirectly, connected, federated or associated with any such association, and do not, directly or indirectly, contribute to the expense or support of any other such association, or to the onlcers, promoters or managers thereof. And provided, that no person or officer shall receive from said association any payment on account of organization or other expenses or salaries not a bona fide resident of such county in which such association is domiciled. The association above mentioned shall annual...