to my services as president of this body. I would like to detain you for an hour in telling you how much I appreciate it, but it would only weary you. I do want to say, however, that I thank

you from my heart. [Applause.]

The President-Gentlemen, you have heard the resolution of Mr. Johnson. What is your pleasure?

The resolution was adopted unanimously.

Mr. Ben Williams-Mr. President, the hour is getting late, so I will confine my remarks to returning my hearty thanks for the adoption of Mr. Johnson's resolution. [Applause.]

Mr. Plummer-If it be agreeable, I am sure we would all like to have the new secretary of the association presented to us.

The President-The chair will appoint Capt. Kendall and Mr. Norris a committee to escort Mr. Christy to the secretary's table. When the committee escorted Mr. Christy to the platform the president said:

Gentlemen, I take great pleasure in introducing to you your secretary for the ensuing year, Mr. E. W. Christy. [Applause.] Secretary Christy-Gentlemen, it gives me very great pleasure to acknowledge the high compliment which you have paid me today. It gives me still greater pleasure to acknowledge the compliment because the gift comes from a body of life insurance

men.

This association work is only in its infancy. To contrast the past with the present, I am satisfied that every man here would rather mortgage his home than to have the old conditions of ten or fifteen years ago prevail today. I very highly esteem the compliment you have paid me.

In Cleveland we have one of the best and most loyal associations in the country, and its members have all been very kind to me. I appreciate their friendship. I also appreciate your friendship.

Many of you gentlemen are a good deal older that I am, and have a great deal more wisdom than I have, hence it gives me much pleasure to be associated with such a body of gentlemen, because I shall have the opportunity of advising with you, and in that way I expect to be guided as I should be in the performance of my duties.

I again thank you for the compliment of my election. Work is before us, work is what you want, and work is what I am willing to do. [Great applause.]

The President-Gentlemen, is there any unfinished business? Mr. Plummer-Mr. President, the report of the executive committee was presented at the morning session yesterday, and received. I wish in connection with that to move its adoption.

The motion was agreed to.

Mr. Munson-There are several of us here who would like to hear from the committee on transportation. I am much interested in that.

The President-The committee will be here at the door of the convention immediately after the adjournment.

The executive committee will meet immediately after the adjournment of the convention, in its committee room. Is there any other business to come before us?

At 1.30 o'clock P. M. on motion, the convention adjourned sine die.

CONSTITUTION AND BY-LAWS

OF THE

National Association of Life Underwriters.

REVISED AND ADOPTED

SEPT. 22, 1892, SEPT. 8, 1893, AND SEPT. 16, 1897.

CONSTITUTION.

ARTICLE I.-NAME.

This organization shall be called the National Association of Life Underwriters.

ARTICLE II.-OBJECT.

The object of this association shall be to advance the best interest of the cause of true life insurance throughout the country.

ARTICLE III.-MEETINGS.

The association shall meet annually, each local association being entitled to five delegates and one additional delegate for every ten active members in excess of twenty-five.

In case of vacancies in any desegation, such vacancies may be filled by substitution, provided at least one delegate is present who is a member of the association which he represents and in which such vacancies occur, and such member or members shall have power to fill vacancies in such delegations.

The presence of delegates from one-half of the associations composing the national association shall constitute a quorum for the transaction of any business at any meeting.

ARTICLE IV.-OFFICERS.

The officers of the association shall consist of a president, vice-presidents, as hereinafter described, a secretary, and a treasurer, and there shall also be an executive committee of fifteen members, all of whom shall be elected by ballot, to hold office for one year or until their successors are elected, except as to the tenure of office of the members of the executive committee, as hereinafter provided, but not more than one member of the elective portion of the executive committee shall be from any one association. At the next election one-third of the elective portion of said committee shall be elected to serve for one year, one-third for two years, one-third for three years, and each year thereafter successors shall be elected to fill vacancies for three years. The vice-presidents shall be

selected one from each local association represented in the national association, which local association shall not have otherwise a representative by election or ex-officio in the executive committee. The president, vicepresidents, secretary, treasurer, and ex-presidents shall be members exofficio of the executive committee, with the right to vote. The secretary of this association shall be secretary of the executive committee.

No person shall be eligible to office except an active member of the association to which he belongs, and which is represented at the annual meeting, and except, also, that he be an agent, manager of agencies, or superintendent of agents of a regular legal reserve, level premium

company.

Any officer of the association or member of the executive committee shall be disqualified for his position if he ceases to be a member in good standing of the local association of which he was a member at the time of his election, or in case his local association shall cease to be a member of the national association.

ARTICLE V.-DUTIES.

The duties of the president, vice-presidents, secretary, and treasurer shall be the same as are usual in similar organizations.

The executive committee shall first consider all business presented and shall report upon same, and, unless by a vote of the association, all propositions, resolutions, and other business relating to future action of the association shall be first referred to the executive committee without debate.

ARTICLE VI.-TIME AND PLACE OF MEETING.

At every annual meeting the time and place of the next succeeding annual meeting shall be decided by ballot.

ARTICLE VII.-SPECIAL MEETINGS.

The executive committee shall have power to call a special meeting of the association whenever in its judgment it may be deemed necessary.

ARTICLE VIII.-EXECUTIVE COMMITTEE.

The executive committee is charged with the duty of preparing the business and arranging for the sessions of the annual meeting, and said committee shall meet at least once in six months. The presence of not less than five members of the committee shall constitute a quorum for the transaction of business at any meeting.

ARTICLE IX.-MEMBERSHIP.

Any life insurance or life underwriters' association now organized, and composed of representatives of regular life insurance companies, shall be entitled to membership, but any such association hereafter organized shall submit copies of its constitution and by-laws to the executive committee, and, if approved by said committee, it shall be admitted to membership upon application and payment of annual dues, and subscribing to the constitution and by-laws of this association.

ARTICLE X.-HONORARY MEMBERSHIP OF C. M. RANSOM.

The constitution was amended June 18, 1890, so as to permit the election of Chauncey M. Ransom to honorary membership.

BY-LAWS.

ARTICLE I.-VACANCIES.

In the case of a vacancy in the office of president, the vice-presidents, in the order elected, shall act as president, to serve until the succeeding annual election. Other vacancies may be filled by the executive committee.

ARTICLE II.-DUES.

Each local association shall pay into the treasury of this association as yearly dues, in advance, the sum of twenty-five dollars, and one dollar additional for each active member belonging to said association on June 1st of each year in excess of twenty-five. Such payments shall be made on or before the 18th day of June of each year, or within thirty days thereafter, and failure to pay such dues within the time named shall work a forfeiture of membership. Provided, that any local association joining the national association within the fiscal year shall pay the proportionate part of the specified dues for that year. And the treasurer is hereby authorized to adjust all pending accounts with the association on this basis.

ARTICLE III.-EXPENDITURES.

Funds paid to the treasurer shall be used only for necessary expenses, duly authorized by vote of the executive committee.

ARTICLE IV.-DELEGATES AND CREDENTIALS.

Delegates to this association shall be selected from the active members of each association, and be either agents, manager of agencies, or superintendent of agents of a regular legal reserve, level premium company, and be accredited by credentials signed by the president and secretary of their respective associations upon the official form of this association.

ARTICLE V.-VOTING.

All questions, when demanded by the delegates present from at least two associations, shall be decided by roll call of the yeas and nays, and each association shall vote as a unit and be entitled to one vote only.

ARTICLE VI.-ORDER OF BUSINESS.

1. Called to order by president. (Prayer.)

2. Roll call.

3. President's address.

4. Reading minutes of previous meeting.

5. Report and recommendations of executive committee.

6. Treasurer's report.

7. New business.

8. Election and installation of officers.

9. Unfinished business.

10. Selection of time and place for next annnal meeting.

ARTICLE VII.-AMENDMENTS.

This constitution and by-laws shall not be amended except at an annual meeting, and then only by a two-thirds vote of the associations present and voting.