Farmers' Milling Co. v. Mill Owners Mutual Fire Ins.

1. Mutual insurance: levy of assessments; cancellation of policy. The defendant was organized as a mutual insurance company under title 9 of tbe Code of 1873, and as such, on June 1, 1898, issued the policy under which the loss occurred. The only defenses interposed are 0 (1) that the policy was in a state of suspension ^ .^me pr0perty Was burned; and (2) that it had been cancelled. Under the plan QÍ insurance prescribed by the articles of incorporation and by-laws, each person applying for- a policy executed to the company a note equal to the premium on the indemnity proposed for one year,…