ART. 23] FRATERNAL BENEFICIARY ASSOCIATIONS. 241

this section shall be valid after, one year from its date, or after such
further period, not exceeding one year, as may be authorized by the
insurance commissioner, upon cause shown, unless the five hundred
applicants herein required have been secured and the organization has
been completed as herein provided, and the articles of incorporation
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 association 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 be-
come null and void.

Every such association shall have the power to make a constitution
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
incidental to carrying into effect the objects and purposes of the associa-
tion.

See notes to this section (as it stood in 1911) in volume 1 of the Anno-
tated Code.

1912, ch. 824, sec. 13A.

241. (Powers Retained—Reincorporation—Amendments.) Any
association now engaged in transacting business in this State may exer-
cise, after the passage of this sub-title, all of the rights conferred there-
by, and all of the rights, powers and privileges now exercised or pos-
sessed by it under its charter or articles of incorporation not inconsist-
ent with this sub-title, if incorporated; or, if it be a voluntary associa-
tion, it may incorporate hereunder. But no association already organ-
ized shall be required to reincorporate hereunder, and any such asso-
ciation may amend its articles of incorporation from time to time in
the manner provided therein, or in its constitution and laws, and all
such amendments shall be filed with the Insurance Commissioner and
shall become operative upon such filing, unless a later time be provided
in such amendments or in its articles of incorporation, constitution or
laws.

See notes to this section (as it stood in 1911) in volume 1 of the Anno-
tated Code.

1912, ch. 824, sec. 14A.

242. (Mergers and Transfers.) No domestic association shall
merge with or accept the transfer of the membership or funds of any
other association unless such merger or transfer is evidenced by a con-
tract in writing, setting out in full the terms and conditions of such
merger or transfer, and filed with the Insurance Commissioner of this
State, together with a sworn statement of the financial condition of
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