Chapter 970. To amend an Act entitled "An Act to incorporate the Masonic Mutual Relief Association of the District of Columbia." March 2, 1903.[[Public, No. 127](/us/pl/34/127).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, That sections two an
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CHAP. 970.— An Act To amend an Act entitled "An Act to incorporate the Masonic Mutual Relief Association of the District of Columbia." March 2, 1903.[[Public, No. 127](/us/pl/34/127).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, That sections two and threeDistrict of Columbia.Masonic Mutual Relief Association.Vol. 15, p. 335. of an Act entitled “An Act to incorporate the Masonic Mutual Relief Association of the District of Columbia,” approved March third, eighteen hundred and sixty-nine, as amended by the Act entitled “An Act to amend an Act entitled ‘An Act to incorporate the Masonic Mutual Relief Association of the District of Columbia,’ approvedVol. 27, p. 464.
March third, eighteen hundred and sixty-nine,” approved February twentieth, eighteen hundred and ninety-three, as amended by the Act entitled “An Act to amend an Act entitled ‘An Act to incorporate the Masonic Mutual Relief Association of the District of Columbia,’ approved February fifth, nineteen hundred and one,” be amended soVol. 31. p. 759 amended. as to read as follows: " “Sec. 2. That membership in this association shall be limited toMembership limited.Objects of the corporation. master Masons, and that the particular business and objects of the society or corporation shall be to provide and maintain a fund for the benefit of the widow, orphans, heir, assignee, or legatee of a deceased member immediately upon proof of such death; and for this purposeLife insurance. it shall and may be lawful for the said society or corporation to make all and every insurance appertaining to or connected with life risks of whatever kind and nature, and because of its fraternal and benevolent purposes it shall be defined and classed as a fraternal beneficial association: *Provided, however*, That upon all policies which shall be issued*Proviso.*Reinsurance reserve fund. for a specified amount it shall be required to maintain a reinsurance reserve fund not less than that computed upon the American experience table of mortality at four per centum interest.
“Sec. 3. That the number of directors of said association shall be atDirectors.Term of sender three years. least twenty-one, a number of whom, less than a majority, shall be elected annually by the members of the association from among themselves and shall serve for three years; that the annual meeting of saidAnnual meetings. association shall, after the year nineteen hundred and three, be held on the third Tuesday in February of each year, and for this purpose the terms of service of the present directors shall be, and are hereby, extended to the date of the annual meeting succeeding the expiration of their present terms of service.
In all cases of a tie vote the choiceVoting. to be determined by lot, and in all other cases a majority vote shall decide. And said directors shall, at their first meeting succeeding theOfficers. annual meeting of the association, elect one of their number to be 924president of the board of directors, who shall also be president of the association, and shall elect one of their number as vice-president, and one of their number as secretary, and one of their number or a member of the association as secretary of the association, and the said secretary of the association shall give bonds with security to said association in such sum as the board of directors may require for the faithful discharge of his duties; and one of their number as treasurer, who shall also give bonds with surety to said association in such sum as the said board of directors may require for the faithful discharge of his Quorum.Vacancies.trust.
At all meetings of the board of directors a majority of the board shall form a quorum. In case of any vacancy in the board of directors, by death, resignation, or otherwise, such vacancy shall be filled by the remaining directors from among the members of said association, who shall serve until the next annual meeting of the association, at which time a successor shall be elected to serve for the remainder of the unexpired term. " Approved, March 2, 1903.