Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1870-04-19

Acknowledged
the required Dy law for the proof or acknowl
edeemeLi of conveyances which certificate shall he
filed In the Office of said secretary OF state before any
action shall be by him thereon. The secretary Of
state In he shall permit any such 10 RI.
duce Its capital In the manner provided in t6s az,
shall execute tue certificate required by this act In
duplicate and deliver Of such Certificates 10 m,
officers of such company who shall forthwith file The
same with the clerk OF the circuit of the county
In which such company Is located and the other such
eertcats shall be filed In the office Of said secretary
OF state. Such company, upon filing the certificate
With the clerk Of the circuit required nv this
act shall with such reduced capital possess the same
rights and be subject TO the liabilities that II
possessed orwas subject to at the time Of the reduction
Of its capital. And the charter Of such coInpanv
shall be deemed to be amended in respect to the
amount OF capital and the par value Of thu shares 40
ms TO conform 10 such reduction II shall be lawful
for the said company require the return OF the orig
maj certincate OF stock held by each stockhoder aud
IN lieu thereof 10 issue certificate for such number
OF shares as each stockhodes may be entitled 10 In the
proportion that the reduced capital may be found TO
pear 10 the original capital Of tue company. II shall
DC a"iu ior any such company after its capital shall
be 50 reduced aforesaid increased It's capital stock
In the mode prescribed by this law. shall be the duty
OF all receivers and trustees Of insurance companies
during the month OF January II each year. and any
other time when required by the secretary state
make and file annual and other statements of their
assets and liabilities and Of their income and expen
dtures. in the same manner ard form and under the
same penalties, the officers Of such companies are
now required by law 20 make annual and other state
mens 20 the secretary Of states Office Every fire or
business In this state shall its annual statement
by this act required be fled be published in ,he
official state paper for two weeks, and Ia one daily
paper Of general circulation, published in the city Of
Milwaukee.
SEC. 2S. II shall not be lawful for any agent or
agents TO act for any Insurance company or connanes
directly or Indirectly in taking risks or transaeng
business Of insurance in this state without nroeurne
from the secretary of state certificate Of authority
setting forth that such company has complied with all
the conditions OF this ACT Agents appointed Inv any
company doing business In this state shall be held
personally responsible to such company for all mon
eys received by them for such company and In Gaze
any such agent shall embezzle or fraudulently con
vert to hls own use any money belonging to such COM
pany which may have come into his possession or be
under his care by virtue Of his agency shall be deem
ed by so doing TO have committed the crime ofarceny
and on conviction, shall be. subject to the fines and
penalties provided by the statute in such cases.
SEC ~ Whenever the existing future laws or
any other state Of the United States shall require of
insurance companies, incorporated organized under
the laws Of ths state, having agencies IN such other
state Of the agents thereof any deposit of securities
In such state for the protection 81 policy holders or
otherwise or any payment Of taxes, fines penalties
certificates Of authority license fees otherwise great
than the amounts required for such purposes from
SIMILAR companies Of other states by the then existing
Laws Of this state then, aud in every such case all
companies Of such states having or ESTABLISHING an
agency agencies in this state shall he and are
hereby required 20 make the same deposit with. pay
the same taxes. fines, penalties and fees for ike pur-
poses unto the secretary Of stats imposed upon or re-
quired by the laws Of such state Of the Companies OF
this state agents thereof
SEC. 20. The necessary expenditure for any exam
nation made ordered to be made the SECRETARY Of
state under this act shall be certified to by him and
paid on his requiston by the company which Is the
subject Of such examination orocfded, such exami-
nation be not required Of such companies organized
outside OF this state in states where under the
thereof they similarly supervised by and under tn.
proper officer, as in such laws provided, and such
officer shall FURNISH whenever required % do by the
secretary Of state certificate and satemc exhibiting
the solvency Of such company.
Sac. 81. There shall be paid BY every company
lvanpa a., H.. fB.g
act shall apply, the following fees For filing the dec.
laration or the certified copy Of charter herein re
quired, the sum of twenty-five dollars for filing the
annual statement required, ten dollars for each GER
hcate OF authority TO agents Of all companies doing
bn slness within this state dollar for every copy
OF paper filed IN his Office fifteen cents ner folio aud
for axing the seal Of said Office and certifying 10 The
same, fifty cents. On two or more companies
shall combine to effect insurance under joint policy
er policies, each and every company thus combining
shall pay the fees provided heren the as if each
and every one wrote sepsrate policy policies
SEC 81. II shall be the duty Of the secretary Of
state, for the purpose Of carrying into effect more
thorough supervision and examination of the affairs OF
all insurance companies doing business In this state
and enabling the secretary of state exercise control
over the same as may be required by law to establish
In his office, department 20 be called the department
Of insurance, and 70 employ such clerical and other
assistance as he shall deem necessary and at such
pense as he shall determine. 20 maintain and keep
such department and enable him take charge Of
and conduct, TO be conducted, all examina-
tons of the business and affairs Of such insurance
companies that may be required by law and
generally 10 exercise such supervision and control
over insurance companies doing business in this state
as the law may require prOridsd that the whole
amount Of the expenses Of such department 10 any
year shall net exceed the Of fees paid v in
surancc companies during that year and propided.
that such expenses in shall the sum Of
five thousand dollars and DrOuided that the amotn,
of all fees and above five thousand dollars maid
by insurance companies under section 81 of this act
shall be paid over by the secretary OF the state
treasurer and to the general fund and for all such
purposes, and TO that extent the secretary of state
shall be called and held 10 be the commissioner Of in
suTance.
SEC. 49, Il shall he the duty Of every company trans
acting the business of Insurance under this act to in
clude in its annual statement statement showing the
amount received in this state during year
such statement Is made In cash for premiums In prem
ium notes, In cash notes, and the amount received
from other sources AID showing also the amount
paid In this state for salaries commissions 10 agents
and for losses during the same period. And each
such company, efore receiving license to transact
business for the current year. shall pay the state
treasurer equal to per centum Of the gross
cash receipts Of such company in this state including
cash notes taken for premiums, during the year for
which such statement Is made: prOvided, all COM
panies chartered organized under the laws Of this
state may be allowed deduct from such gross re-
eeipts, their office expenditures and officers salaries
and prooided JuTsher, that when application for H.
cense Is made by any company not organized under
the laws Of this State and that shall not have transac-
ted business within the state within one wear prior 10
such application, the Of five hundred dollars shall
be paid by such company license for the FIRST wear:
such sum to be computed by under the direction OF
the secretary OF state. And In order TO ascertain
truth Of such statements the secretary of may
quire such additional evidence he shall deem ne,
sary The amount paid by the several insurance com.
panies provided above shall b. in lien Of all state
county and municipal taxes and licenses exc spting
taxes real estate owned by any insurance company
and exempt as provided in this act proyided, that
this act shall not be construed to prohibit cities
and Incorporated villages, having organized FIRE de-
partnent from collecting thu two per cent now al.
lowed by law on the receipts Of each Insurance com.
pany within their respective limits to be applied TO the
d 81 III tles and ell
lagos.
SEC "a. There shall be paid the treasurer Of the
IRE department OF any Incorporated city village in
this state, in which there may be regularly organized
fire department for the use and benefit OF said fire de-
parment on the first day Of February In each year Nv
every person who shall In said city or village
agent for or in behalf OF any individual or association
association Of individuals whether incorporated by
the laws of this state by the law any other state
territory country effect insurance against losses
or injury by fire, the Of two dollars upon the
hundred dollars, and at that rate upon the Of
all premiums, which, during the year part Of a year
ending on the next preceding first day Of January shall
have been received by such agent person. or recev.
ed by any other person or persons for him. shall
have been agreed to be paid for any insurance effected
agreed 20 be effected, promised by him as such
agent or otherwise against loss injury by fire in
any such city village No person shall in any s,ich
city or village, as agent otherwise for any indyid-
ual, individuals OF association. effect agree to elect
any insurance upon which the duty above mentioned
is requiredto he paid agent otherwise prscre
such insurance TO be effected until he shall have exc
euttd and delivered TO the said treasurer bond to the
fire department Of any such city village in the pen.
nj sum Of one thousand dollars with such SUI sties "a
the said treasurer shall approve with condition that
he will annually render TO tbs said Treasurer o The
first day OF February In each year just and true ac
count verified by his oath that the same Ia lust and
true of all premiums which, during the year ending on
the first day OF January preceding such report shall
have been received by him. any other person for him
agreed 10 be paid for any insurance against loss or
INJURY by Ere In any such city or village which small
have been effected promised by him. or agreed to be
effected or promised by him to be effected from any
individual or individuals association INCORPORATED
provided in the first section % this act aad that he
will annually on the first pay of February in each
year. pay 20 the said treasurer two dollars upon ey
hundred and at that rate upon the of such
premiums. Every person who shall effect agree to
effect, promise procure any insurance specified In
the preceding sections Of this chapter without having
executed and delivered the bond required by the pr-
ceding session, shall for each oifense forfeit ON.
hundred dollars for the Of the said fire DEPARTMENT.
such penalty of one hundred dollars shall be collected
in the of the fire department Of any such city or
village.
SEc. So Every person Who at any time hereafter
as agent otherwise for any individual or individuals
or association, may, In the city Of Mw aukec effect
or agree effect any insurance specified in the proceed
ing sections Of this chapter, shall the first day Of
February in each year, within ten days thereafter
and often in each year rs he shall alter change
his place Of doing business in said city report In
writing under his proper signature to the treasurer Of
the fire department in the city Of Milwaukee the street
and number thereof in the said CITY, Of his place Of do
ing business such agent otherwise designating
in such report the individual individuals and asso