Washtenaw Mutual Fire Insurance Co.

Revised Charter and By-Laws OI THE T r - t-l Art. i. lie it known that we, W. R. Waldron, Munnis Kenny, S ï Williams, H. M. Queal, B. K. I)il)hle, T. R. Starnon, L. W. Wodgett, Horace J Carpenter, O. N. Conklin, S. Van Kiper, residents of the County of Washtenaw, in the State of Michigan, and citizens of said State, pursuant to the f ' act of the Legislature of said State entitled "An act for the incorporation of _- -, Insurance Compartios and defining their powers and duties, approved February 25, 1859, and April 15, 1873," do hereby associate together and form an r incorporaled company for the purpose as authorized by tlie first subdivisión of --"v the first section of said act of making insurance agárnst loss by fire on dweiling liouses or othcr buildings, and personal property of farmers, and against } loss and damage by lighlning jto buildings of farmers and personal properly -, ,. therein ; and we 1 hereby adopt this instrument and declare the same to be f the Charter of said Company by which subject to the constitution and laws of V J said State, it shall in all usjn-cls be governed. i j Art. 2. Said Company shall be known and designated by the name of the . Washtenaw Mutual Fire Insurance Company, and is organized to do business r . in the County of Washtenaw and State of Michigan, and its office for the transaction of its business shall be locatcd in the city of Ano Arbor. Art. 3. The officers of this Company shall be residents of the Cotinty of Washtenaw and memben of the Company, and shall consist of five Directors, -r who shall be elected by ballot at each annual meeting of the Company and by J J the members present at such meeting, and each person having a majority of ., all ballots cast shall be declared elected. The following named persons shall j act as Directors of this Company until the annual meeting, and until the pery sons then elected shall have entered upon the duties of their office, to wit : _. [ohn J. Robison, Allen Crittenden, Newton Sheldon, H. M. Mowry, and An ( J drew Campbell. -" ' Art. 4. The Directors shall have the general supervisión of the business of the Company-, and the management of its affairs, its funds, and property, - including power to borrow moncy to pay losses. Art. 5. The annual meeting of the Company shall be held on the second f ' Wednesday of January in each year, at 10 o'clock A. M., and at such place s- in the city of Ann Arbor as the Board of Directors may select. The Directors shall on the day on which they are elected, or at an adjourned meeting r 1 to be then designated, procced to elect from their own number, a President, and a Secretary who shall be tx-offiav Treasurer. All officers shall hold their offices for one year and until their successors shall be elected and shall enter upon the duties of their office. AU vacancies in any office of the Company shall be filled by the Board of Directors for the unexpired portion of the term. -- ■-. Art. 6. Special meetings of said Companymay be called at any time by I T I order of the Board of Directors, or upon the written request of ten or more ' of the members of said Company presented in writing to the Secretary, and j j stating especially the purposes thereof. All special meetings shall be called -J and notified in such manner as shall bc prescribed by the By-Laws, subject to 1 1 this Charter. ' 1 Art. 7. The fiscal year shall termínate on the thirty-first day of December in each year, and the succeeding fiscal year shall cominence on the first I 1 day of January following. T Art. 8. Theliability of themembersof thisCompany tobeassessed towards } ' { defraying the losses and expenses of the Company and the mode and manner . of collecting such assessments shall be provided for by the By-Laws to be f J adopted by the Board of Directors. Each assessment shall be limited to a V J sum sufficient to cancel actual liabilities and the estimated expenses of the Company for one year. Art. 9. All applications for membership shall be approved by the Prcsi._ dent or Secretary, ánd all forms of applications for insurance and policies f ) snall be adopted by at least three-fifths of the Directors. -' JArt. 10. It shall be the duty of the Directors to cause an examination ' of the property insured in this Company before the first day of March, one L J thousand eight hundred and scventy-six, and every five years thereafter, and f in all cases where the buildings are insured for more than two-thirds their _- - r actual valué it shall be the duty of the Directors to reduce the insurance on ( J said buildings to that Standard. Slmuld the holders of policies object to said - ' reduction their policies shall be canccled. And the Board of Directors shall fs have further power to cancel any policy heretofore issued, or that may be issucd by this Company, as they may deern necessary for the benefit and safety [ ' ] of the Company. And in addition to the duties and powers conferred upon the officers of this Company by the Statutcs and by this Charter, they shall dis charge such further duties, and have such furlher powers as may be conferred vj upon them by the By-Laws - subject to this Charter and the laws of this State. ' Art. II. In case of any disagreement beTwccn the Company and the insured in case of loss, the Board of Directors shall select a suitable and disinlerested Farmer, nol a member of this Company, residing in the County of Washtenaw, and in some town other, than the one in which the loser shall rer side, to act as referee, the loser shall choose another, like situated as above, f and the two referees so chosen in case of their disagreement shall select a Jl third farmer ; said referees so chosen, or if a third shall be selected a majority .J of them, shall determine and decide the amount of the losses and liability of the Company, and their decisión shall be final. The expenses attending such 1 arbitration or reference shall be borne equally by the Company and the insured. T Art. 12. The officers shall receive such compensation as the members of - J the Company may determine at the annual meeting. ., i 1 1. The President sball preside at all meetings of the Company, and of the Board 1 ' J of Directors. He .shall sign all policies issued by the Company. He shall receive and ' lile all bond for Bafe keeping, ánd dlsbursement oï the funds of the Company. Should y" " the President be absent at any meeting of the Company, or of the Board of Directors a f ) President pro tempore shall bc selected from the members present at such meeting. V mlS 2. The Secretary shall keep the books of the Company, and alo the books of . . the Board of Directors, in which ho shall enter, in writing, i full and perfect record of ) all the doings of the Company, and of said Hoard : which books shall be opeu for rispenL j tion to everv member of tlc Company. He shall cuunturalKii and issue all policies in V conformity willi rliartrr amlbylawi ir tlic conipuny, IIu shall ninkc a report of hls . oftlcial doings at. each Annual Meotinir. He shull perform such othor dutiea as may bc hereinafter defiued, or the Board of Directors may require. " 1 3 The Secretary shall be ex ojjicio Treasurer, and shall executo a boud In favor of the Company, with good and suüicicnt surety, to bc approved by a majority of the Board of Directors, and fili-d with the President of the Company, lor the proper appropriation of all moneys that may come into lus hands by virtue of his office as Treasiirnr. He shall pay all losses and other sums, by order of the Board of Directors, but no moneys shall be paid from the Treaaury, except on an order signed by the President and one Dirocr - tor. He shall eollect all assessments thut may be ordered by the Board of Directors, and he Tl shalluiakea report of his doings as Treasurer, and of the condition of the finances of L I J the Company at each Anuual Meeting, and at any time the Board of Directors may require. He shall pay over to his successor in office, all the funds remalning in the Treasl j ury and also turn over all other property in his possession belonging to the Company. ' - 4 The Board of Directors shall Have power to cali ín all policies issued uuder former charters, and to replace the samo with m-w ones, to be issued in conformity with the } ' i provisions of the present charter, and to cancel the policy of any member heuever, in r their judgment, the best interests of tli3 Compauy requl it. , 5 A majority of the Board of Directors may cali special meetings of the Company, specifying in tlie uotice the business of such meeting. Special meetings shall also be L_ called by the üeeretary, upon the written request of ten oí the membera of the Company. Nolicesof meetings of the Compauy, both anuual and special, shall be given, by publication in oue or moro nowspapers ín the county, at least two weeks before such meet6. Evcry person op becoming a member of said company shall pay to the Secretary seventy-flve cents, and also one dollar on each tbousand dollars insured. Any person r now a member of this company, desiring furthor iusuraiice, shall pay twenty-five cents, J and at the rate of one dollar on each thousand dollars of additiuual insurance. But said ' additioual insurance shall be written ou a separate pulicy. ... 1 7. In case of loss or damage by fire, or lightning, to proporty insured in this Com- any theloscr slmll givo notice within ten days to the Secretary. And in adjusting such loaa the Company Is liable only for two-thirds of the insured loss on personal property ""VJ and not to exceed the amount insured on the buildings. In caseot joint insurance with 1 other Company, or Companies, this Company will pay its pro rat of the loss and all losses shall be paid within 90 days after adjudication. 8 The Board of Directors shall order no moro than ono assessment per annum, and at such timo as they shall determine, and whenever an assessment is so ordered the Secretary Bhall execute the sume, which shall be signed by a majority of the Board of Directors and Secretary, and placed on lile in the Secrctary's office, and when 30 flled shall r 1 be évidenco in all placea ibat the sums so assessed are due and payable to the Company, I t I from the persons against whom the same are respective])' assessed. Bvery member shall ' 4 be assessed on the Dasis of the wholo amount insured on his buildings, and two-thirds the amount insured on his property. When such assessment sball have been - complotcd, the Secretary shall prepare a circular, a copy of which he shall direct to each S member of Ibis ('oinpany to his last known post office address, setting forth in such l;ir thc amount due from such member, and require him to pay such assossmcnt to thu f 1 Treosurer, at his office, within :iü days from the date of such circular. Thc circular . shall also coutain the ñames of the losers, for the payiuent of which the assessinent is f } made, together w(th the scvcml amounts awarded said losers. The mailing of such I I cular sháll be deemed sufficient notice of his HabDity to pay. If any member sball _ lect or refuse for the space of 30 days from tho date of such circular, lo pay such - ment, thcnceforth every such deliuquent shall coaseto have any rightor claim against f A tbis Company, by reason of any poliey or agreement of insurance, executed by said Cómpany ; bul smh deliuquent shall coiifliíue Hable for all demands duo from him to said f Company, and the Treasurer shall forthwith procecd to OOÜect the assessments from each of said dáUpquenta by due process of law, adding 10 por cent, to the amount of said assessnient of each of said delinqnents. 9. The term Capital Stock, whenever used in the Charter, By Laws, or tbe Records of the Company, shall bo ieemod to bc the aguregate amount of insurance on buildings, and two-thirds such amouut of insurance on personal ptoperty. i_ 10. No policy of iusuraucc issued by this Company shall anply to cover any books r r of account, written securitles, deeds. or evidriicr.s of Htlee to land, nor to bullion or mon( 1 ey nor to bonds, notes, or other evidonces of dcbU. -. .- 11 All ssnUcann foi insumnee shall state the amount of encumbrance on the pret mises whereon the properly to DC [nsúréd is situated. And should ftdditional eiicumr 7' braoie be placed on saiu premises, so that the whole amount shall exceed one-third the S cash valúe of said premlses, without thc written consent of thc Secretary or one Director, f i sucli policies sball be void ; and thc Company will not be liable for any loes under them. 12. Evory application for iusurance shull purticalarly set forth, by schedule, the í property tobe insun'd, and shall lie signed by tho applieant. ■ ' ' 13. Amenibir inay withdniw at. any time from tliis Company bygiving written notme thereof to the Beeretary, and paying to the Treasurer all assossmenta mude, or I i li:il.lc to !■ made, Dr préVtOUB losses. and all debts and claims theu due, or justly to be comfi 'lúe, from such member to the Oompany. , ■ 14 In case of claim for loss or dumage, the Board of Directors or any member f r UiiT.of, sball examine such claimant under oath, touching any matter which shall seom v material to be inquirid into on the part of the Company, and in case such claimant f j shall refuse or ncglect lnr ten (liiys altor notice and demand, to submit to such examina' ' tion, or to answer thereon, he shall thereby forfeit and bei deemed to havo thereby voli ) untaiïly surrendered all rightand claim to reeeive anything from said Company, on ac' 1 count of such loss or damage. J 15. In case of death of the insured, thc insurance sjiall continuo for the benefit of CC his estáte, uutil such estáte bescttk'd.proviilrd tho iiersonal representativos of such de■ ccascd shall pay aseessmonta and complv witb the conditions and obligations of r bership, as rcqulred in the charter and by laws, and as thc ineured would have been _ bound to do: 16. This Company will not bc liable for losses occasioned by stovepipes psassing li through combustible lloors, roofs, or sides of buildings, unlcss protectea by sufficient } 1 tilator or thiuible, and entering a properly construotcd ohimncy. Nor for losses occasioned by the use of steam as a motive power for maehinery, or for lires used in drying hopa; or for hay burned in stack, or barracks on marshea or natural meadow, aftr the ti rat 'Uiy of Aojil oé belbre tbc first day ot August ; or for iosjea oeeastojied hy tho urn-v safe doposits of ashes; or for losses occasioned by permlttlng smoking in or aopt th 1 buildings ; or for losses occasioned bv an increase of hazard without the written consent I I I Of thc Compnny exirt'ssel on the policy. r 1 17. All questions of dispute arising botween this Company and tbe assurcd, or auy . persou cbiiming under him, shall bo settled by arbitrators or referees, iu aceordance with f A the Charter and the laws of this State. IJ 18. In the appraisal of damage 011 live stock, the following rules shall control and - _ - limit the action of tnc Board of Directors: , I- On Horses- The intrinsic valuation for farm purposes shall le the basis ol their f appraisal, and no horse shall be rated higher than one hundred and tifty dollars, unless I by special agreement with the Company, such horses shall be-specially described, rated aüd insured, and no horse shall be ratod above three hundred dollars. II- On üattlt.- Tho Intrinsic valué for labor, and for the dairy, and for slaughtor, shall be the basis of such appralsul, and by special agreement with the Company, cattle may be specitically described, rated and insured but no animal shall be rated above one "f hundred dollars. Il- On Slttep.- Tbe intrinsic valuc for wool and for slaughter, shall be the basis of I I ; thc appralsal, and by special agroetmmt with the Company, sheep may bedescribed, rated ' ' and insured ; but no sheep shall be rntod above twenty-five dollars. L 19. Any meml.or holding a jiolicy in tbis Company and removing from the county, ' shall within 30 days after such remuval, furnish an accepWble guarantor, who will bc re. J sponsible for all assessments made 011 said Polii-y. Tbc nnglect to furnish such f ' blo guarantor, aud withiu tbe time moutioued, shall itunul tbc poliey of evory snch mem 20. Thc property of any member, or suchas is held in joint ownership by busbaud ( 1 and wife, must be iusurcd by such party or partios representing such interest. N-V 21. Property ow ned by the wifc ín her own name, eau be insured hy bersolf. If a partnership Interes) lp the occupancy and impiovement of the same exist in the person L of hor husband, such partnership so existlug must be expressed in the applicatiou and J T)ol IC V 1 22. Personal property beid in trust, as Guardian, TRxccutor or Administrtor, or owned iu partnership or acqúired by lease, rent, or cropplng for a share, must be insured by such Guardian, Exeeutor or Administrator as such, or by the actual owner. 28. In case of the sale of property insured, the insurancö thereon shall cease, and the Coínpány thereby shall be ÏÉchargod from all lubillty tberefor. But the person or persons Befltng said property, shall promptly notify_ the Secretary of such sale, or they . will be held liable for any subsequent assessmeut wbich may be made on the members "i of the Company before such notice. C 24. The insured may assign bis policy to a creditor as collatoral secunty to a -- - mortgage or other lüdebtedness, and tbe sume sball bc good to the assignee, after notice I T I to the Secretary, who shall endorse thc consent of the Companj' on such policy, and I I make a record of the same on the original application, for which he shall be entitled to r 1 twenty-five cents _- L- 25. ThisCompany will not join insurance with any other company or companies ' except in cases where thu risk execeds in amount 88,000, and then only with tho consent V J of the company, endorsod bv the Secretary on the pulicy of the insured. v 2f. This Company will not tako additlonal rlska of iusurunc withiu an incorporated city or village.