REPORT OF THE COMMISSIONER OF INSURANCE.


XiX


vehicles may continue to do so untiil otherwise ordered at any
annual or special rheeting, anid sunch insurance heretofore ef-
fected is hereby legalized.
May assume cyclone risk, when.
3. And it may at such time authorize its directors to insure
any of the classes of property herein mentioned against damage
or loss. by wind storms, cyclones and tornadoes, under the same
rules and restrictions as relate to insurance by it against dam-
age or loss by fire; provided, that a request in writing, signed
by at least ten members of the corporation, be filed with the
secretary at least thirty-five days before the next annual meet-
ing of the corporation requesting that the question of insuring
against damages or loss by wind storms, cyclones and tornadoes
be submitted at such meeting, and that the secretary give
thirty days' notice by mail to each member of the corporation
at his postoffice address., that said question will be submitted at
such meeting.
1931 (4) (Ch. 242, 1913.)
4. Such corporation may, by a provision contained in the
policy, limit the recovery as to any or all items of personal
property insured by the, policy to not exceeding such propor-
tion of the value at the time of loss, or. to not exceeding such
proportion of the loss or damage, as shall be specified in the pol-
icy.
Secretary and treasurer's report.
Section 1938. The secretary of every such corporation shall
annually prepare a statement showing its condition on the 31st
day of December preceding its annual meeting, which shall
specify  *  * * the whole number of policies issued, the
whole number then in force, the aggregate amount then in-
sured,    * * the amount of losses paid during the year,
*  3 * the amount of losses sustained and unpaid, if any,
and all such other matters  * * * as required by the by-
laws. * * * The treasurer of every such corporation shall
annually prepare a statement of its financial conditions on the
thirty-first day of December preceding its annual meeting,
showing amount on hand January first preceding, amount re-
ceived during the year from premiums, amount received from
each separate  * :    assessment, * * * amount received
from any other sources, amount paid for losses, amount paid
for expenses, giving a detailed statement of every item of ex-