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STATE BOARD OF INSURANCE, 1110 SAN JACINTO, AUSTIN, TEXAS 78786
NED PRICE, Member
JOE CHRISTIE, Chairman
DURWOOD MANFORD, Member
WILLIAM J. HARDING, Chief Clerk
DON B. ODUM, Commissioner of Insurance
March 19, 1974
General Casualty Bulletin No. 443
Automobile Series No. 485
W. C. Circular Letter No. 449
Burglary & Theft Bulletin No. 122
Bond Bulletin No. 185
Plate Glass Bulletin No. 34
TO THE HOME OFFICES OF ALL INSURANCE COMPANIES, CORPORATIONS, EXCHANGES, MUTUALS, RECIPROCALS, ASSOCIATIONS, LLOYDS OR OTHER INSURERS WRITING AUTOMOBILE, GENERAL LIABILITY, BONDS, BURGLARY, ROBBERY AND THEFT, PLATE GLASS, AND WORKMEN'S COMPENSATION AND EMPLOYERS' LIABILITY INSURANCE IN THE STATE OF TEXAS.
The State Board of Insurance has entered Board Order 26700 dated March 12, 1974 reading as follows:
"Came on and for consideration by the State Board of Insurance the request for a revision of one of the Texas Standard Provisions for all Policies written by Mutuals. The amendment is styled 'MUTUALS - MEMBERSHIP AND VOTING NOTICE.'
Board Order #2103 (an amendment of the then existing Rules and Regulations), dated November 28,1959, having identity with Workmens' Compensation Circular #289, Automobile Series #298, General Casualty Bulletin #220, Burglary, Robbery and Theft Bulletin #59, dated October 26, 1956; and as FURTHER AMENDED by Workmens' Compensation Circular #319, Automobile Series #337, General Casualty Bulletin #276, and Burglary, Robbery and Theft Bulletin #75, dated December 3, 1959, effective January 1, 1960, IS HEREBY AMENDED BY STRIKING OUT all of the following 'policy' clause
'A Mutual company shall print into its policy, before its signature at a place to be selected at its option, the following:
MUTUALS - MEMBERSHIP AND VOTING NOTICE - The insured is notified that by virtue of this policy, he is a member of the __________ Mutual __________ Insurance Company of __________, and is entitled to vote either in person or by proxy at any and all meetings of said Company. The Annual Meetings are held in its Home Office __________, on the _____ day of __________, in each year, at __________ o'clock __________.'
and INSERTING IN LIEU THEREOF THE FOLLOWING:
'A Mutual company shall print into its policy, before its signature at a place to be selected at its option, the following:
MUTUALS - MEMBERSHIP AND VOTING NOTICE - The named insured is notified that by virtue of this policy the named insured is a member of the __________ Mutual __________ Insurance Company of __________ and is entitled, as is lawfully provided in the charter, constitution, and by-laws, (to vote) (to one vote) (to only one vote regardless of the number of policies owned) (to a number of votes based upon the insurance in force) (to vote in accordance with the number of policies held) (to such votes as determined by the amount of premium paid) either in person or by proxy in any or all meetings of said Company. (There may be added the sentence 'Each member is entitled to only one vote regardless of the number of policies owned'.) The Annual Meetings are held in its Home Office __________, on the _____ day of __________, in each year, at __________ o'clock __________.'
[Note: This does not alter section (a) nor section (b) containing 'MUTUALS PARTICIPATION CLAUSE WITH CONTINGENT LIABILITY' and 'MUTUALS PARTICIPATION CLAUSE WITHOUT CONTINGENT LIABILITY.' Such shall remain as stated.]
Companies may continue to use their present supply of Texas standard policies. In such cases this Board Order will apply only to the next reprint of those policies.
AND IT IS SO ORDERED."
STATE BOARD OF INSURANCE
By William J. Harding, Chief Clerk