The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1867-05-09

strued as to prevent one authorized travelling
agent of each company, association or part
nership legally authorized to transact the bust
ness of insurance in this state, and holding
license from the secretary of state, from trans
acting the business of insurance in any county
in this state where such company, association
or partnership emplQyingsuch agent shall have
an authorized agent, as provided in section 8
of this act and the secretary of state NAV, in
his discretion, grant license to one or more
agents of any company, association or part
nership legally authorized to transact business
as aforesaid, authorizing such agent to trans
act the business of insuranc. N two or more
counties of this state, spc. 40 in such Ii
cense the counties in which agent shall
be, by virtue of such lcel authorized to
transact business.
I Sec. 9. Whenever the secretary of state shall
become satisfied that the assets of any insur-
ance company not Incorporated by the state
| of Wisconsin, and transacting business therein
pursuant to the provisions of this act or any
association or partnership described in section
| Two of this act, have from any cause become
| reduced to q sum less than one hundred and
| fifty thousand dollars, it shall be his duty to
Immediately serve the officers of such compa-
ny, association or partnership with a notice,
requiring that the assets of such company as
ISOLATION or partnership shall be increased to
one hundred and fifty thousand dollars, as by
this act required, within such reasonable time
as the secretary of state may designate and
III part
nership shall fail within the time designated
by the secretary of state to increase the assets
as required in the notice served as hereinbefOre
provided, it shall be the duty of the secretary
of state to Immediately revoke the license is
sued to the agents of the COMPANY associa.
ton or partnership falling to increase the as
sets thereof as required, and shall cause notice
of such revocation to be published in the state
paper, daily for two weeks, and he shall also
cause notice of such revocation to be served
upon each of the agents of such company, Ii
censed as aforesaid, in such manner as he shall
deem proper; and all agents of any company
association or partnership, after being serveC
with notice OF the revocation of their license
as aforesaid shall Immediately discontinue thu
business of insurance within this state, an(
shall not in any way or manner act as agent o
agents of the company, association or part
nership the licenses of which have been re
voked as aforesaid prOOided, that the secreta
ry of state may in his discretion, after the Ii
censes of the agents Of any company shall hav
been revoked as hereinbefore provided permi
such company to increase the amount of TIL
assets thereof to the amount required by thi
act and when satisfied that the assets hav
/ been so increased, he may, upon such term
| as he may deem just and proper, again licens
the agents of such company, and authoriz
them to again transact the business Of insur
an ce in this state.
Sec. 10. Any person violating the provision
of this act, shall upon conviction thereof il
f any court of competent jurisdiction, be 1inet
in not less than one hundred nor more thai
one thousand dollars or imprisoned in thu
county jail not more than six months, at tn
discretion of the court. The penalties imposed
by this act shall be collected in the name O
the people, by the attorney general of tn
state, or the district attorney of the count,
where the offense shall have been committed
on the complaint of any person aggreived b.
such violation, or any other person; AM
one-half of the penalty when recovered, shall
be paid into the treasury, for the use of tn
= poor of the county where the otfenSe shall bav
been committed, and the other half to the in
former of such violation. Violations of thi
act shall be prosecuted iii the same manner a
may be provided by law for the punishment 0
offenses of like grade.
Sec II. 1t shall be the duty of the distric
attorney of each county in this state, t.
promptly prosecute all persons who shall il
r any manner violate the provisions of this act
and for the purpose of enabling such distric
! attorneys to determine who do violate tn
provisions of this act, it shall be the duty O
the constables of the several towns in thi
+ state, and the marShals and chief of police O
all the villages and cities of this state, to i'm
, mediately report to the district attorney O
I the proper county, the names OF all person
kAiolating any of the provisions of this act with
= Fin their respective towns, villages and cities
and to enable such officers to determine wheth
+ err the persons acting as insurance agents Il
+ this state are properly authorized to act a
such agents. such officers may demand of an
insurance agent an exhibition of his license
2 and if the agent, when such demand is made
shall neglect or refuse to exhibit his license
/ he shall be deemed to be acting in violation G
7 the provisions of this act, and shall be prose
+ cuted accordingly and exhibiting the licens
after the commencement of the prosecution
| shall not in any manner be taken as author
2 izing such agent to transact the business ofin
1 surance in this state. Every district attorne
? or other officer willfully neglecting orrefusin
T to discharge the duties imposed by this act
shall be guilty of misdemeanor, and upOl
conviction thereof shall be fined in any sun
r not exceeding one hundaed dollars, at the dis
erection of the court.
, Sec. 12 Chapter 100 of the general laws G
7 1859, chapter 66 of the general laws of 1862
chapters 275 and PSF of the general laws G
5 1865 are hereby repealed
Sec. 2. This act shall take effect and be il
force, from and after its passage and rublica
S ton.
Approved April IL 1867