Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1878-03-28
Published March s, 1878
CHAPTER 90.

AN ACT to prevent the making and publi-
cation of deceptive statements in relation to
the business of fire insurance.
The people of the state of Wisconsin, repre-
sented in senate and assembly, do enact as
follows
Section /. 1t shall not be lawful for any
company corporation, association, individual
or individuals, now transacting, or now or
hereafter authorized, under any existing or fu-
tUre laws of the state, to state or represent,
either by advertisement in any newspaper,
magazine or periodical, or by any sign, circu-
lar, card, policy Of insurance or certificate of
renewal thereof, or otherwise, any funds as
assets to be in possession of any such company
corporation, association, individual or indi-
viduals, and not actually possessed by such
company, corporation, association, individual
or individuals, and available for the payment
of losses by fire, and held for the protection
of holders of policies Of fire insurance, and
such statement shall also show the amount
available and held in the United States.
Section 2. Every advertisement or public
announcement, and every sign, circular or
caro- hereafter made or issued by any CON-
pany, corporation, association, individual or
individuals, or any officer, agent, manager or
legal representative thereof, now or hereafter
authorized by any existing or future laws of
this state to transact the business of fire in
surance within this state, which shall purport
to make known the financial standing of any
such company, corporation, association, indi-
vidual or individuals, shall exhibit the capital
actually paid in cash and the amount of net
surplus of assets over all liabilities of such
company, corporation, association, individual
or individuals, actually available for the pay
ment Of losses by fire and held for the pro-
lection OF holders of their policies of fire in
surance, including in such liabilities capital
actually paid in, and the fund reserved for re-
insurance of outstanding risks, and shall cor
respond with the verified statement made by
the company. corporation, association. individ-
ual or individ uals, making or issuing the same
to the insurance department of this state next
preceding the making or issuing of the same
Section 8. 1t shall be unlawful for any
company, association or corporation transact
ing the business OF fire insurance in this state
to publish any statement, by newspaper adyer
tisement, card or otherwise, which shall repre-
sent said company as transacting a different
business than it in reality is in regard to the
nature and class of risks written by said CON-
pany.
Section 4. Amy company, association or
corporation transacting the business of fire
insurance in this state shall cancel any policy
of ms france at any time, by the request Of the
party insured or his assignee, and shall return
to said party the amount of premium paid,
less the customary short rate premium for the
expired time for the full term of the said pol
icy has been issued.
Section 5. Any violation of any provision
of this act shall, Tor tho first ofFepse, subject
the company, corporation, association, individ-
ual or individuals guilty Of such violation to a
penalty Of FIVE hundred dollars, to be sued for
and recovered in the name of the people, with
costs and expenses of such prosecution, BY
the district attorney Of any county in which