Page:United States Statutes at Large Volume 47 Part 1.djvu/179

 72d CONGRESS. SESS. I. CHS. 183,184. MAY 14, 1932 . 155 annuities ; t o make insu rance again st in jury, disa blemen t, or deat h resulting from accident and against disablement resulting from sick- ness and every insurance appertaining thereto ; to make and accept reinsurance of any risks ; and to furnish any aid or service to pro- mote the health and welfare of its policyholders and their bene- ficiaries : Provide d, however, That the company shall forever be %uillei, nonprofit c onducted for the mutual benefit of its policyhol ders and their co mpan y beneficiaries and not for profit ; and, as to its business transacted in the District of Columbia or in any State or other jurisdiction in which it is licensed, shall be subject to all laws of such District, Business license . State, or other jurisdiction governing similar mutual insurance companies. " SEC. 3 . The number of directors of said company shall be fixed D t°n • by the by-laws and shall be at least twenty-one, •a number of whom, less than a majority, shall be elected by the policyholders at the ann ual meet ing of the company from among themselves for a term of three years ; that in all cases of a tie vote the choice shall be determined by lot, and in all other cases a plurality vote shall decide . The annual meeting of the company shall be held at such time and Annual meetings. place as provide d in the by-laws . The board of directors sha ll Officers. elect from among the policyholders at their first meeting succeeding the annual meeting of the company a president, one or more vice presidents, a secretary, and a treasurer, and from time to time such additional officers as the by-laws may provide . The president, the vice presidents, the secretary, and the treasurer shall each give bond with surety to the company in such sum as the board of directors may require for the faithful performance of his duties. At all Quorum, meetings of the board of directors twelve of the board shall form a .quorum. In case of any vacancy in the board of d irec tors by vacancies. deat h, resig nation, o r otherw ise, suc h vacanc y shall be fille d by the remaining directors from among the policyholders of the company to serve for the remainder of the unexpired term. "SEC . 4. The board of directors shall have full power to make By-laws, etc. and prescribe su ch by-laws, rules, and regulations as they shall deem needful and proper for the elections herein provided, and for the disposition and management of the business, funds, property, and effects of the company, not contrary to this charter or to the laws of the United States, and they shall have power to alter or amend the same as the interests of the company, in their opinion, many require . ` SEC . 5 . Nothing herein contained shall be construed to affect p ired ested ri ght im . or impair in any manner whatsoever any vested right or interest existing in or under any contract of the company ." SEC. 3. Such Act, as amended, is further amended by adding at avol- 1 16, p. 335 , the end thereof a section as follows " SEC. 6 . The right to alter, amend, or repeal this Act is hereby Amendm ent. expressly reserved ." Approved, May 14, 1932.
 * [C HAPTER

184 .] AN ACT May 14,1932. To add certain land to the Crater Lake National Park in the State of Oregon, [Public, and fo r other purpose s. Be it enacted by the Senate and House of Representatives of the United States o f America in Congress assembled, That all of that tionalte r La ke a. certain tract described as follows : Beginning on the south boundary La nd added to. line of Crater Lake National Park at four mile post numbered 112 ; thence west along the south boundary line of said park four and