The Superior times. [volume] (Superior, Wis.) 1870-1912, 1872-05-04
Published April 5, 1871
AN ACT authorizing the formation of town ms
CHAPTER 103-GENERAL.


rance companies.
The people of the state of Wisconsin, represented
in senate and assembly, do enact as follows:
Section /. 1T shall be lawful for any number OF
persons not less than twenty-five, residing in any
town or adjoining towns, rot exceeding four in
this state who collectively sna own property of not
less tian twenty-five thousand dollars in value,
which they desire to have insured, to form them
selves into company for mutual insurance
against loss or damage by FIRE or lightning; which
corporation shall possess the usual powers ana be
subject to the usual duties of corporations and the
corporate name thereof shall embrace the name of
fhe town in which the business office of said
3sny shall be located.
Sec. 2. Every company so formed shall choose
OF their number not less than five nor more than
nine directors, to manage the affairs OF such COM
pany, who shall hold their office for year. and
until others Ire elected and such directors shall
choose one OF their number president, and one as
Sec. 3. The directors of such company shall Gle
their articles OF association, together with COPY
Of their bylaws and the names of the officers of
such company, in the clerks Office of the town in
which the office of such company is located and
shall keep arecord of their proceedings in n book
TO be kept for that purpose, together with the
names of all persons insured, and the amount
each person ia insured; which record shall be kept
open for the inspection of oil the members of such
company, from the hours of nine O'Clock A. NJ, to
four clock P. M, OF each secular day. the estab-
Eehed holidays excepted.
Sec. 4. The directors of such company may is
cue such policies, signed by the president and sec
rotary, agreeing in the name OF the company to
pay all loss ORDINANCES which may be sustained by
tire or lightning Tor term not exceeding five
years by the holders OF such policies, and not ex-
ceeding the sum named in such policy.
Sec. .: Every person SO insured shall give his
undertaking, bearing even date with the policy go
issued to him, binding himself, his heirs and as
signs to pay mis- pro rata share to the company of
all losses or damages by fire or lightning, which
may be sustained by any member thereof, and
every such undertaking SHALL within five DAYS
alter the execution thereof, be filed by the
airy OF such company, in the Office of the clerk of
The town in which the office of the company is To-
Gated. and shall remain on file in such office,
cept when required to he produced In court as ev-
ldence. He snail also, at the time OF efecting in
snrance, pay such percentage in cash. aud such
reasonable sum for apoIy as may be required by
the rules or bylaws OF the company.
Sec g. Every member of such company who
may sustain loss or damage by fire or lightning,
shaIl Immediately Iot.fy the president of such
comlany, or in case of his absence, the secretary
thereof, who shall forthwith convene the direct
ors OF such company, whose duty it shall be,
when convened appoint a committee of
not less than three nor more than five members
OF such company, to ascertain the amount of such
loss and in case of the inability of the parties to
agree upon the amount OF such damages, the
claimant may appeal 10 the judge of the county
court of such county, whose duty shall be to APP
point three disinterested persons a committee
of reference, who shall have full authority to ex-
anime witnesses and to determine all matters in
dispute who shall make their award in writing
to the president, or In his absence, to the sec
rotary Of such company which award thereon
shall be final. The said committee of reference
shall each be allowed the sum of two dollars per
day for each days service SO rendered, and the
iIy Travelled in the discharge of such duties which
shall be paid by the claimant unless the award of
sald committee shail exceed the sum offered by
the company in liquidation of such loss or damage,
In which case ssid expenses shall be paid by the
company
Sec T. The companies formed under the pre-
visions OF this act may classify the property in
ssured at the time of issuing policies thereon IN
der different rates, corresponding nearly may
De to the greater or lees risk from fire and loss
which may attach 10 each several buildings or per-
sonal property Insured Whenever the amount of
any loss shall be ascertained, which exceeds in
amount the cash funds of the company, the presi-
dent shail convene the directors of said company,
who shall make an assessment upon all property
Insured to the amount Tor which each several piece
OF property is insured, taken in connection with
the rate OF premium under which it may have
been classified.
whenever such assessment shall have been COM
peted, to Immediately notify every person com
posing such company by letter, sent 10 his usual
post office address, of the amount of such loss,
and the SUM dle from him as his share thereof,
and of the time when and TO whom such payment
Is to be made, but suCh time shall not be than
sixty nor more than ninety days from the date CT
such notice, and every person designated to re- ]
celve such money may demand aud receive two |
per cent. In addition o the amount due each |!
assessment as aforesaid for his fees in receiving
and paying over the same. |
sec. 3. Suits at law may be brought against I
any member Of such company, who shall refuse or /
neglect to pay any assessment made upon them by i.
the provisions OF this act and the directors of any
Company so formed, who shall wllfuliy neglaCt or
Eefuse perform the duties imposed upon them by |
the foregoing sections of this shall be liable
IN their individual capacity to the person sustain
eng such loss.
Sec: 10. No company formed under this act
shall insure any pToberbby on OF the limits OF the
nor shall they insure any property other than de
tached dwellings and their contents, ard farm
buildings and their contents and live stock while
on the premises or running at large, and hay and
grain IN the bin stack, shall they insure any
property within the limits of any Incorporated
city 10 this state.
Section II. The directors of each company so
formed shall be chosen by ballot at the aanGal
meeting thereof which ahall be held on the first
Tuesday of January in each year, aad every per-
son shall have one vote for each two hundred dol
lars which he may be insured. but no person slall
be allowed to vote by proxy at such election.
Section II. Il shall be the duty of the secretary
of every company aforesaid, to prepare a state
ment showing the condition OF such company on
the day preceding their annual meeting, which
statement shall contain the amount insured, the
number of policies issued, and to whom, and the
amount insured by eGca policy, and all other mat
tiers pertaining to the interests of such company.
which statement shall be filed in the office of the
town clerk, in which said company may be lcca-
ted or before the fifteenth day of January IN
year and which statement shall also be read
TO the members OF said company at their annual
meeting.
Sec 49, ANY member of sucn company may
withdraw thererom at any time, by giving notice
IN writing TO the president, or In his absence, TO
the secretary thereof and paying his share of all
claims then existing agains; said company; and the
directors or majority thereof, shall have power
TO annul any policy by giving notice in writing to
&c. Il. Nonresjdents of a-y town in this state,
owning property therein, may become members of
any company founded under this act, and shall! be
entitled 20 all rights and privileges appertaihing
thereto, except that it shall not be lawful fer such
nonresident to become q director of said compa-
ny, unless he be at the time of such membership,
a resident of a town adjoining the town or towns
in which said company has been formed under the
provisions OF this act.
Sec. 10. The company so formed may adopt such
bylaws for its reputation, as are not inconsistent
with the provisions of this act, and may therein
prescribe the compensation of lis officers.
Sec. IL. No company formed under this act
shall continue for longer term than thirty years
Sec. II. This act shall apply to all companies
heretofore organized in compliance with the pro-
visions of chapter iortysix, general laws of 1859,
and The amendments thereto
Sec. 49, All acts and parts Of acts inconsistent
with the provisions OF this act are hereby repealed
Sec. -. This act shall take effect and be in
force from and after its passage and publication.
Approved March %, 1871. rs COPY.
Published April 8, 1871
CHAPTER 1Sf-GENERAL.
AN ACT to authorize counties, towns and villages
to issue bonds in certain cases.
The people of the safe of Wisconsin, represented
in senate and assembly, do enact as follows:
Section l, Any county, city, town or village In
this state which shall have heretofore issued lis
bonds pursuant to any law of this state, is hereby
authorized to Issue new bonds in exchange for any
bonds so issued which are unpaid and out
standing The new bonds to be issued shall be
substantially of the same form as thc bonds in
lieu of which they are issued, except that they
may be made payable after a different period OF
time and bca, less rate OF interest: pr0Cidei,
tina, the principal Of such lew bonds shall cx-
coed the principal CT the bonds in exchange OF
which they are issued.
may be authorized TO issue bonds by any law OF
this state, the may be Issued without seal or
such iowa may procure seal and seal such
bonds Herewith, and the want OF a seal on any
such bonds heretofore issued shall not he held TO
affect the validity thereof
Sec 3, Whenever 1t shall be Iecessary for any
n Aulll bridge