CH. 78] LAWS OF THE THIRTY-FOURTH GENERAL ASSEMBLY as in other equitable actions, and said court shall have jurisdiction to enter a decree whereby the title to all the property of such extinct society shall be transferred to such trustees, or for the sale thereof and transfer of the proceeds of such sale to such trustees. Such decree or sale thereunder shall pass good title to such property. Provisions shall be made for the protection of all having claims against such local society or its property. "SEC. 1652-d. Property held in trust. The property of any such extinct religious society shall be held and disposed of by such trustees in trust for the work of the denomination in the territorial limits represented by such trustees, and especially in trust for such work at the place where such extinct society was situated or its immediate vicinity within the judgment of the religious body by which such trustees were elected. Only income therefrom shall be used for the general work of such denomination in such territorial limits, but the principal shall be kept as a permanent fund except that it may be used in the locality where such extinct local society was situated or its immediate vicinity if thought best by such body. No local society of such denomination at such place shall be allowed to demand the use of such principal for its benefit until it has been recognized and approved by and has complied with the reasonable requirements of the body so electing such trustees. "SEC. 1652-e. Existing contracts and property rights. Existing contract and property rights arising under the organization, rules, laws or canons. heretofore adopted by any corporation or organization of a religious character, shall not be affected by the provisions of this act except by consent of the interested parties. "SEC. 1652-f. Acts in conflict repealed. All acts and parts of acts in conflict with this act are hereby repealed." Approved April 10, A. D. 1911. CHAPTER 78. ISSUANCE OF POLICY OF INSURANCE BY INSURANCE COMPANIES. S. F. 284. AN ACT to amend section three (3) of chapter one hundred and twelve (112) of the acts of the thirty-third (33d) general assembly, relating to the issuance of policy of insurance by insurance companies. Be it enacted by the General Assembly of the State of Iowa: SECTION 1. Kinds of risks-limitation. That section three (3) of chapter one hundred and twelve (112) of the acts of the thirty-third (33d) general assembly is hereby amended by inserting after the word "accident" in the thirty-fourth (34) line thereof, the following words, to-wit: "and if said company is possessed of a paid-up capital of five hundred thousand dollars ($500,000), it may in addition to insuring against the casualty specified in subdivision five (5), insure against the casualty specified in subdivisions two (2) and six (6) and also insure plate glass against breakage from accident,". Approved April 15, A. D. 1911. LAWS OF THE THIRTY-FOURTH GENERAL ASSEMBLY [CH. 79 CHAPTER 79. CO-INSURANCE CLAUSES IN POLICIES OF FIRE INSURANCE COMPANIES. H. F. 335. AN ACT to amend section one thousand seven hundred forty-six (1746) of the code of Iowa, relating to co-insurance clauses in policies of fire insurance companies. Be it enacted by the General Assembly of the State of Iowa: SECTION 1. Co-insurance clause authorized-limitation. That section seventeen hundred forty-six (1746) of the code be, and the same is, hereby amended by inserting after the period following the word "stipulation' and before the word "No" in line eleven of said section the following: "Provided, that upon the written request of any person desiring insurance, a rider providing for co-insurance may be attached to and become a part of the policy, but in no case shall such rider apply to dwellings or farm property, nor to any risk where the total value of the property to be insured is less than twenty-five thousand dollars, except as to grain elevators and grain warehouses and their contents. The request for the application of the coinsurance clause or rider to any policy of insurance shall be written or printed on a single sheet of paper which shall contain nothing but the request hereinafter set out and said request must be signed by the insured and a copy thereof be left with him by the agent at the time the insurance is applied for. No form of request for co-insurance except the following shall be used by any company doing business within this state: REQUEST FOR THE APPLICATION OF THE CO-INSURANCE CLAUSE: In consideration of a reduction from the established rate of......per cent to......per cent, in premiums to be paid to the........ Insurance Company for insurance upon the following described property. I hereby request that a co-insurance rider be attached to the policy to be issued by said company and hereby agree, that during the life of the policy I will maintain insurance on said property to the extent of at least..... dollars, (or)........ per cent (whichever may be agreed upon) of the actual cash value thereof at the time of fire, and that failing to do so, I shall become a co-insurer to the extent of such deficit. Before signing this request or the co-insurance rider to be attached to the policy to be issued I carefully read each of them and fully understand that in case I shall fail to maintain insurance on the previously described property to the extent above provided then in the event of loss or damage this company shall not be liable for a greater per cent of the loss or damage to said property than .dollars, or: ..per cent of 1. The total amount of insurance maintained bears to... 2. The total amount of insurance maintained bears to... the actual cash value of the property insured at the time of fire. Date.... ...Insured. The co-insurance rider to be used shall be signed by both the agent and the insured and a copy thereof shall be left with the insured at the time the application is made for insurance. The rider shall be in form and restrictions as follows: CH. 80] LAWS OF THE THIRTY-FOURTH GENERAL ASSEMBLY IOWA CO-INSURANCE AND REDUCED RATE CLAUSE. (This clause must be signed by both the insured and the agent). In consideration of the acceptance by the insured of a reduction in premiums from the established rate of........per cent to ........ per cent, it is hereby agreed that the insured shall maintain insurance during the life of this policy upon the property insured: 1. To the extent of..... 2. ...dollars, or To the extent of at least... This clause at the request of the insured, is attached to and forms part of policy number........of the. the..... .....Insurance Company of... ...and shall in no case apply to dwellings or farm property, nor to any risk wherein the total value of the property shall be less than twenty-five thousand dollars, except grain elevators and grain warehouses, and the contents of the same. Date.... Approved April 15, A. D. 1911. .Insured. .Agent." CHAPTER 80. INSURANCE EXAMINERS. H. F. 470. AN ACT to amend section one thousand eight hundred twenty-one-c (1821-c) of the supplement to the code, 1907, relating to insurance examiner. Be it enacted by the General Assembly of the State of Iowa: SECTION 1. Appointment-compensation. That section one thousand eight hundred twenty-one-c (1821-c) of the supplement to the code, 1907, be and the same is hereby amended by striking out lines [one] (1) to three (3) inclusive and that part of line four (4) ending with the word "year" and insert the following in lieu thereof: "For the purpose of carrying into effect the provisions of this act, the auditor of state is hereby authorized to appoint two insurance examiners, one of whom shall be an experienced actuary who shall receive for his services a salary of three thousand dollars ($3000.00) per year, the other of whom shall be an experienced and competent fire insurance accountant, who shall receive for his services a salary of two thousand dollars ($2000.00) per year,". Also said section one thousand eight hundred twenty-one-c (1821-c) is hereby further amended by adding the letter "s" to the word "examiner" in lines six (6), nine (9), thirteen (13). and at the end of line twenty-two (22), and at the beginning of line twentythree (23). SEC. 2. In effect. This act being deemed of immediate importance shall take effect and be in force from and after its publication in the Register and LAWS OF THE THIRTY-FOURTH GENERAL ASSEMBLY [CH. 81 Leader and the Des Moines Capital, newspapers published in the city of Des Moines, Iowa. Approved April 15, A. D. 1911. I hereby certify that the foregoing act was published in the Des Moines Capital April 20, 1911, and in the Register and Leader April 21, 1911. W. C. HAYWARD, CHAPTER 81. BENEFICIARY ASSOCIATIONS COMPOSED OF THE MEMBERS OF ANY ONE RELIGIOUS DENOMINATION. H. F. 423. AN ACT to amend section eighteen hundred twenty-two (1822) of the code relating to beneficiary associations composed of the members of any one religious denomination and permitting any corporation heretofore organized, whose membership and plan of business permits, to bring its business under chapter nine, title nine, of the code. Be it enacted by the General Assembly of the State of Iowa: SECTION 1. Beneficiary associations composed of members of one religious denomination. That section eighteen hundred twenty-two (1822) of the code, be, and the same is hereby amended, by adding the following words after the word "laws" in the eleventh line of said section, to-wit: "Provided that beneficiary societies or associations, whose membership is confined to the members of any one religious denomination, shall only be required to have a branch system and a representative form of government, Such beneficiary societies or associations shall be governed by the provisions of chapter nine, title nine, of the code, and shall be exempt from the provisions of the statutes of this state, relating to life insurance companies, to the same extent as fraternal beneficiary associations." SEC. 2. Corporations heretofore organized. Any corporation heretofore or ganized under the laws of this state, whose membership is confined to the members of any one religious denomination, and whose plan of business permits, may take advantage of this act by amendment to its articles of incorporation, and by complying with the provisions of section eighteen hundred thirty-two (1832) of the supplement to the code 1907; provided, that such corporations as on March 15, 1907, were and have since continuously been doing business under chapter seven (7), title nine of the code, may take advantage of this act without raising their mortuary assessment rates or showing that their said rates are such as are required by section eighteen hundred and thirty-nine-j (1839-j) of the supplement to the code, 1907. Approved April 12, A. D. 1911. CH. 83] LAWS OF THE THIRTY-FOURTH GENERAL ASSEMBLY CHAPTER 82. INVESTMENT OF FUNDS AND DEPOSITING OF SECURITIES OF FRATERNAL BENEFICIARY SOCIETIES. H. F. 50. AN ACT amending section eighteen hundred thirty-nine-l (1839-1) of the supplement to the code, 1907 relating to the investment of funds and depositing of securities of fraternal beneficiary societies. Be it enacted by the General Assembly of the State of Iowa: SECTION 1. Not applicable to certain auxiliary societies. That section eighteen hundred thirty-nine-1 (1839-1) of the supplement to the code, 1907 be amended by adding after the period in the last line of said section the following words: "Nor shall the provisions of this chapter be construed to apply to auxiliary societies or associations, the membership of which consists of female members of the families of members of any one occupation, guild, profession or religious denomination." Approved February 24, A. D. 1911. CHAPTER 83. EXAMINATION OF STATE AND SAVINGS BANKS. H. F. 300. AN ACT to repeal section one thousand eight hundred seventy-three (1873) of the code and section one thousand eight hundred and seventy-three (1873) of the supplement to the code, 1907, and to enact a substitute therefor relating to the examination of savings banks and state banks by the auditor and to the publication of the statements thereof in some newspaper. Be it enacted by the General Assembly of the State of Iowa: SECTION 1. Repeal-examination by auditor of state-reports. That section one thousand eight hundred seventy-three (1873), of the code as amended by chapter ninety-two (92), acts of the thirty-second (32nd), general assembly, be and the same is hereby repealed and the following enacted in lieu thereof: "The auditor of the state, may at any time he may see proper, make or cause to be made an examination of any savings or state bank, or he shall call upon it for a report of its condition upon any given day which has passed, as often as five times each year, which report shall contain the information under the preceding section, and the auditor shall cause it to be published, except as hereinafter provided, in one regular issue in some daily, semiweekly or weekly newspaper in the city or town where such bank is located, or if there be none in such city or town, then, in one regular issue of some daily, semi-weekly, tri-weekly or weekly newspaper printed in said county, and the expense of such publication shall be paid by the bank. The statement published in the newspaper shall not contain the name of the bank or banks in which the bank making the statement, has on deposit, funds subject. to be drawn at sight, nor shall said statement show the amount of liabilities due such bank on the part of the directors thereof." Approved April 7, A. D. 1911. |