Morrow v. Vaughan-Bassett Furniture Co.

The Lumberman’s Reciprocal Association was a corporation organized under the laws of the State of Texas and did business in sixteen other States, including Virginia. It assumed and agreed to pay losses which its subscribing members might suffer by reason of workmen’s compensation acts. The subscribers, on their part, promised to pay an*420nually to this insurance company definite sums based on pay rolls. The Texas company was in substance a mutual benefit association, although the method adopted for the payment of assessments differed. Ordinarily levies are made as losses occur, or levies are…