PHILLIPS LEE GOLDSBOROUGH, ESQ., GOVERNOR. 1605

sworn statement of the treasurer or corresponding officer of such
association that at least five hundred applicants have each paid
in cash at least one regular monthly payment as herein provided
per one thousand dollars of indemnity to be affected, which pay-
ments in the aggregate shall amount to at least twenty-five hun-
dred dollars, all of which shall be credited to the mortuary or
disability fund on account of such applicants, and no part of
which may be used for expenses.

Said advanced payments shall during the period of organiza-
tion be held, in trust, and, if the organization is not completed
within one year as hereinafter provided, returned to said appli-
cants. The insurance commissioner may make such examina-
tion and require such further information as he deems advis-
able, and upon presentation of satisfactory evidence that the
association has complied with all the provisions of law he shall
issue to such association a certificate to that effect. Such certi-
ficate shall be prima facie evidence of the existence of such
association at the date of such certificate. The insurance com-
missioner shall cause a record of such certificate to be made and
a certified copy of such record may be given in evidence with
like effect as the original certificate. No preliminary certificate
granted under the provisions of this section shall be valid after
one year from its date, or after such further period, not exceed-
ing one year, as may be authorized by the insurance commis-
sioner, upon cause shown, unless the five hundred applicants
herein required have been secured and the organization has
teen completed as herein provided, and the articles of incor-
poration and all proceedings thereunder shall become null and
void in one year from the date of said preliminary certificate,
or at the expiration of said extended period, unless such asso-
ciation shall have completed its organization and commenced
business as herein provided. When any domestic association
shall have discontinued business for the period of one year,
or has less than four hundred members, its charter shall become
null and void.

Every such association shall have the power to make a con-
stitution and by-laws for the government of the association, the
admission of its members, the management of its affairs and
the fixing and readjusting of the rates of contribution of its
members from time to time; and it shall have the power to
change, alter, add to or amend such constitution and by-laws,
and shall have such other powers as are necessary and inci-
dental to carrying into effect the objects and purposes of the
association.