Commercial West Volume 1

Commercial West Volume 1

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1901 edition. Excerpt: ...ever made. The plan we have adopted has attracted considerable attention in other state itssgciations and several of them have already followed our ca. Vhile in justice to the companies we represent it would not be proper for me to state publicly all of the provisions of our contracts--especially those relating to commissions--yet I deem it well that I make some explanations for the benefit of those who may not understand the relation of the insurance department to the association. First of all. the creation of this department is for the bencfit, directly and indirectly, of the members of the association, and I do not mean by this a few of the members, but every one of them. The contracts are between the Missouri Bankers' Association and the two companies I have mentioned. /Vhile to comply with the law it is necessary that the agent's commission of authority should be issued in our secretary's name individ ually. he is simply nominally agent; the actual agent is the association, or, in other words. every member is his own agent. The commissions derived from the business written belongs exclusively to the association. no pa_rt of it going to the secretary or any other oflicer. In fact, the only interest the secretary has in the matter is simply as an ofiicer of the association. For the present it has been thought best to retain the commissions received and use them to build up our reward fund until it should be an influential factor in preventing bank burglaries and frauds against our members. While we can not state positively that the increase in our reward fund has been the cause of it, yet it is a noteworthy fact that Missouri has suFfered less from bank criminals in the past year than for several previous years and more

Product details

  • Paperback | 336 pages
  • 189 x 246 x 18mm | 599g
  • United States
  • English
  • black & white illustrations
  • 1236951654
  • 9781236951656