Starr v. Bankers Union of World

Calkins, C.

The Order of the Iron Chain was a fraternal beneficiary society organized under the laws of the state of Minnesota in 1898, and having its home office at Winnebago, in that state, until November 11, 1901. At that date it had cash on hand, $5,466.01 in the benefit fund, $2,348.68 in the reserve fund, and $2.80 in the extension fund. Under the rules governing the order the benefit fund was devoted to the payment of death claims, and the reserve fund was to be used to supplement the benefit fund when the regular benefit assessments exceeded the number of 12 in any one year, while the…