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ART. XXIIl] INSURANCE COMPANIES. 115
and is entitled to vote either in person or by proxy at any and all
meetings of said company. The annual meetings are held at its home
office in on the day of in each
year, at o'clock.
The blanks shall be duly filled in in print, and shall be a sufficient
notice.
A corporation which becomes a member of such company may author-
ize any person to represent it in such company, and such representative
shall have all the rights of any individual member.
Any person holding property in trust may insure the same in such
company, and as such trustee assume the liabilities and be entitled to
the rights of a member, but shall not be personally liable upon such
contract of insurance.
Members may vote by proxies dated and executed within three
months and returned and filed with the secretary of the company
twenty days or more before the meeting at which they are to be used.
Such company shall have its home office in the city or town specified
in its charter, and if it establishes agencies in other cities or towns, all
signs, cards, pamphlets and advertisements issued by them shall specify
the city or town in which the company they represent is located.
1916, ch. 250, sec. 154P.
154P. Any such company may hold cash assets in excess of its lia-
bilities, but such excess shall be limited to two per cent of its insur-
ance in force, shall be subject to the provisions of law relative to the
investment of the capital stock of insurance companies on the stock
plan and may be used from time to time in payment of losses, dividends
and expenses.
1916, ch. 256, sec. 154Q.
154Q. All policies issued by such company shall be signed by its
secretary, assistant secretary or, in their absence, by a secretary pro
tempore, and by its president or vice-president, or in their absence, by
two directors.
1916, ch. 256, sec. 154K.
154E. All investments and deposits of the funds of the company
shall be made in its corporate name and no director or other officer
thereof and no member of a committee having any authority in the
investment or disposition of its funds, shall accept, or be the beneficiary
of, either directly or remotely, any fee, brokerage, commission, gift
or other consideration for or on account of any loan, deposit, purchase,
sale, payment or exchange made by or in behalf of such company, or
be pecuniarily interested in any such purchase, sale or loan, either as
borrower, principal, co-principal, agent or beneficiary, except that if a
policy holder, he shall be entitled to all the benefits accruing under the
terms of his contract. No investment, sale or loan, except loans on its
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