ART. 23] INSURANCE COMPANIES. 205

mutual insurance association and may authorize another person to repre-
sent it in any such insurance association, and such representative shall
have all the rights of any individual member. Any person acting as.
employer in the capacity of a receiver or trustee may insure in such
association and as such receiver or trustee may. assume the liabilities,
and be entitled to the rights of a member, but shall not be personally
liable upon such contract of insurance.

Any such insurance association may borrow money or assume liability
in a sum sufficient to defray the reasonable expenses of its organization..

1914, ch. 489.

154B. Any such mutual insurance association shall have not less
than nine directors, and such officers as shall be provided in the certifi-
cate of incorporation or by the by-laws made by the members. The
directors shall be elected annually by the votes of the members. All
except three of the directors of any such association elected after its
organization is completed and it is authorized to begin issuing insur-
ance policies shall be members of such association. All the officers-
except the Secretary, Assistant Secretary and the actuary must be mem-
bers of the Board of Directors.

1914, ch. 489.

154C. At all meetings of the members of the association each
employer member shall have one vote and one additional vote for every
five hundred employees or major fraction thereof, covered by the policy
held by such employer member in the association, provided that no such
employer member shall have more than ten votes. The number of votes
of an employer member shall be determined by the average number of
employees at work and covered by said member's policy in the associa-
tion during the last six months from a date not less than ten days imme-
diately prior to the date of any such meeting. Before any such
employer member shall be permitted to cast more than one vote at any
meeting of members he shall file with the Secretary an affidavit showing
the average number of employees at work during the preceding six
months covered by the employer's policy of insurance.

If any of the employees of any such employer members shall con-
tribute to the funds of any such association for the purpose of being
insured against temporary disability, sickness, old age or non-employ-
ment they shall be members of such association and entitled to elect
from among their number representatives equal in number to the num-
ber of votes that all of the employer members of such association are
entitled to cast at any me&ting of the members of such association.
Each of the representatives elected by the employee members shall be
entitled to one vote at any meeting of the members of such association,
and shall be eligible as directors or officers of such association.
See section 17.