The Laws of Texas, 1913-1914 [Volume 16] Page: 445 of 1,574
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GENERAL LAWS. 435
five hundred employees to whom the Association is bound to pay compensation,
hut no subscriber shall cast, by his own right, or by right of
proxy, more than ten votes.
SEC. 9. No policy shall be issued by the Association until not less
than fifty employers have subscribed, who have not less than two thousand
employers [employes] to whom the Association may be bound to pay
compensation.
SEC. 10. No policy shall be issued by the Association until a list
of the subscribers, with the number of employees of each; together with
such other information as the Commissioner of Banking and Insurance
may require, shall have been filed with the Department of Banking and
Insurance, nor until the president and secretary of the Association shall
have certified under oath that every subscription on the list so filed isF
genuine and made with an agreement with every subscriber that he will
take the policies so subscribed for by him within thirty days of the
granting of a license to the Association by the Commissioner of Banking
and Insurance to issue policies.
SEC. 11. If the number of subscribers falls below fifty, or the
number of employees to whom the Association may be bound to pay compensation
falls below two thousand, no further policies shall be issued
until other employers have subscribed, who, together, with existing subscribers,
amount to not less than fifty, who have not less than two thousand
employees to whom the Association may be bound to pay compensation
said subscriptions to be subject to the provisions of the preceding
section.
SEC. 12. Upon the filing of the certificates provided for in the
two preceding sections the Commissioner of Banking and Insurance
shall make such investigations as he may deem proper and if his findings
warrant it, grant a license to the Association to issue policies.
SEC. 13. The board of directors shall distribute the subscribers
into groups in accordance with the nature of the business and. the degree
of hazard incident thereto. Subscribers within each group shall annually
pay in cash such premiums as may be required to pay the compensation
herein provided for the inquiries [injuries] which may occur in that
year.
SEC. 14. The association may in its by-laws and policies fix
the. mutual contingent liability of the subscribers for the payment of
losses and expenses not provided for by its cash fund, but such contingent
liability of a subscriber shall not be less than an amount equal to and
in addition to the cash premium.
SEC. 15. If the Association is not possessed of cash funds above
its insured premiums sufficient for the payment of incurred losses and
expenses, it shall make an assessment for the amount needed to pay such
losses and expenses upon the subscribers liable to assessment therefor in
proportion to their several liability. Every subscriber shall pay his proportional
part of any assessment-which may be levied by the Association,
in accordance with the laws and his contract, on account of injuries sustained
and expenses incurred while he is a subscriber.
SEC. 16. The board of directors may, from time to time, by vote
fix the amount to be paid as dividends upon the policies expiring during
each year after retaining sums sufficient to pay all compensation which
may be payable on account of injuries sustained and expenses incurred.
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1913-1914 [Volume 16], book, 1914; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth10838/m1/445/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; .