Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1870-06-07

SIC. 10. II shall be lawful for any married woman
by herself and Ia her own name, In the name IF any
third person. with his assent as her trustee 10 ~
be insured for her sole use, the lie OF her hnshand
son other person for any definite nsriad'
or for the term Of the natural life of such person and
II shall be lawful for any person effecting or III
be procured effected any policy Of Insurance ~ ,hs
life OF any person. TO assign cause the same
TO be made payable TO any married woman or 10 anv
person In trust for her or her benefit whether The n.
son efectng or procuring such insurance or msting
such assignment transfer be the husband ~ sncb
married woman or not and such policy Of insurance.
when expressed, 70 be for the benefit Of or assigned
transferred or made payably 10 any married waman
shall insure 10 her separate and benefit and that ~
her children andin case OF her surviving such period
or term, the net amount of the insurance he
coming due and payable by the elms of the Insurance
shall be payable to her. TO and for her own use and
benefit free from the claims of her husband his renre
ssntativeso creditors and free from the claims the
person efecting assigning transferring such Insur
anee, his representatives or creditors: Dropfded
hoaCeoer that II the premium such policy Is paid NV
any person with the intent 30 defraud his creditors an
amount equal TO the premium so paid with the inter
est thereon shall insure TO the benefit Of said creditors
SUBJECT however, to the statute Of limitations The
amount OF the insurance may be made payable In case
OF the death Of the wife, before the period at which
becomes due, to his, her, their children for their
use, as shall be provided in the policy Of insurance
and TO their guardian II under age and the receipt Of
such married woman or Of such children, or of their
guardian, II minors In the in which such insur
anceis payable to them either Of them pursuant 10
the terms othe policy, and the provisions Of this act
Shall relleVe the insurance company from all further
liability therefor The provisions Of this section shall
apply TO all assurances on lives effected before the pas
sageof this act.
SIC. 20. Whenever the existing or future laws Of
any other state OF the United States shall require of
life insurance companies incorporated by or organ zed
under the laws of this state OF the agents thereof
any deposit of securities in such state for the protec
tion OF policy holders otherwise any payment for
taxes fines, penalties certificates of authority license
fees or otherwise, greater than the amount required
Tor such purposes from similar companies Of other
nv tbau rfsftn 9 . III.
and In every such case all life accident insurance
companies OF such states establishing or having here
totore an agency agencies In this state
snail be and are hereby required TO make the same
deposit Tor Ike purpose with the state treasurer Of
this state and TO pay the secretary of state for taxes
mes penalties. certificates Of authority license fees
or any other obligation, an amount equal TO the
amount Of such charges and payments imposed by the
laws OF such other state upon the companies Of this
state, and the agents thereof.
SEC. Il. Every life accident insurance GONNA.
ny not organized under the laws Of this state shall be-
fore doing business in this state deposit with the sec
rotary OF state copy OF the charter of the company
and statement, signed and sworn to by the pres-
dent or vice president and secretary in the form pre-
serbed or authorized for the annual statement adopted
to the business done by such company.
SEQ. ~. Whoever solicits insurance ON behalf OF
any life accident insurance companv not chartered
by and not established within this state or transmits
for any person other than himself on application Tor
Lille or accident insurance, policy of life or acct.
dent insurance, TO or whom such company or adver-
tses that he will receive transmit the same shall h.
held to be an agent OF such company TO all ntents
and purposes, and subject 10 all the duties
liabilities and penalties set forth In the laws M tbIs
state, reaiingo life accident insurance companies
not incorporated BY the legislature thereof
SEC. 70. Any agent making Insurance IN vis1a
ton OF any law Of this state regulating life nsrance
companies shall forfeit for each ofense sum not ex
ceedlng five hundred dollars.
SEC. "a. For filing the annual statement reouirad
In the Office Of the secretary Of state tbs said
shall be paid twenty-five dollars for each agents Ger
tihcaie OF authority one dollar; for every copy Of
paper filed In the secretarys Office, twenty cents peI
folio, and for atxing the seal Of said office 10 such
copy and certifying the same one dollar; and for az
amining the affairs Of any company, when deemed
necessary the expenses incurred therein shall he Maid
TO said secretary Of state by the company f
SEC. 20. The secretary Of state shall annualiv on
or before the first day of May prepare and print In
single document, the informal ON contained In the
statements made under this act and shall communi
cate the same TO the legislature. lie shall also canss
tile annual statements required TO be filed by this act
10 De published Ia the official state paper for one week
and for the like period in Newspaper published in m,
city OF Milwaukee, at the expense Of such companie,
respectively.
SEC. 20. II shall be unlawful for any life or acct
dem insurance company against which a final judg
ment has heretofore been recovered or shall hereafter
be recovered in any court Of competent jurisdiction
this state after sixty days from the rendition OF such
judgment and while the shall remain unpaid uplas
execution be payed by appeal according law 10 issue
any new policy Of insurance, and in any life in
surance or accident company by its officers or agen
agents shall violate the provisions Of this section
such life accident insurance company shall forfeit
the sum Of one thousand dollars which May be recov
cred in the name Of the state OF Wisconsin la actor
of debt and when collected shall be paid over TO h
common school fund, and any agent OF such compan,
who shall knowingly violate the provisions Of this sec
ton shall be deemed guilty Of a misdemeanor aud IN
on conviction thereof shall be punished by fine not ex
ceedng five hundred dollars, nor less than one hun
dred dollars, or by imprisonment In the county Jail
ths proper county for term not more than tire,
months nor less than thirty days and DrOoided tina
the Provident Life insurance company Of Chicago
state of Illinois, and the Eagle insurance company
(hfeaUO ~ ab.Ii
Issue any policy Of Insurance in this state and shal
not have any right or privileges whatever under or b,
virtue Of this act
SIC q. No life or life and accident Insurance com
pany shall transact business In this without frs
having obtained license therefor from the secretar
OF state, which license when issued shall authorize tn
Insurance company named therein and the agent
thereof TO transact business In this state until the las
day Of February following the date thereof No sucI
license shall be Issued by the secretary Of state 10 am
lie, or life ana accidental insurance company unit
such company shall have filed In the Office Of the sec
rotary Of state the reports and statements In this
required and shall have paid the state treasurer
addition TO the fees in this act prescribed an annua
license fee of three hundred dollars and all life ant
life accident companies organized in this state uude
special charters granted for that purpose, or unde
general laws shall pay into the state treasury one ne
cent on the cash receipts for premiums received b,
such company in the state Of Wisconsin for the YEA
proceeding the making Of the annual report herein
before provided which shall be paid 10 the stat
treasurer at the time such report is filed with the
tary for which sum paid the state treasurer shall
execute uupncate receipts Inc payment OF the sun
provided In this section, shall be in lieu Of all taxe
for any purpose authorized by the laws Of this state
excepting taxes upon such real estate may be owned
by such company pr0cided that nothing In this ac
shall be construed 10 relieve any company from IN.
payment Of license fees taxes now due undel
existing laws upon business transacted prior 20 Janu
airy first, 1870.
SEC. %. Chapters one hundred and ffty.eight ant
one hundred and seventy-nne Of the general laws
1857 and sections and two Of chapter one hundred
and eghtytwo Of the general laws 1862 so far as they
relate to life insurance companies or the business o.
life insurance, are hereby repealed.
SEC. 30. This act shall take effect and be in forcs
from and after its passage
Approved March a. 1870