Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1878-03-28
GENERAL LAWS OF WISCONSIN.
Published March l6, 1851
EE pTEP Oh

fire and inland navigation insurance companies"
The people Of The state Of Wisconsin, represented in
senate and assembly, do enact as fOlOlUS:
Section l. Section 81 of chapter Sc of the general
laws of 1870 is hereby amended as TO read as fol-
lows: Section 81 There shall be paid by every
company, association person or persons or agent
to whom this act shall apply, the following fees
For filing the declaration or certified copy of char
ter herein required the sam of twenty-five dollars
Tor Ming the annual statement required. twenty
agents of ali companies doing business within this
state one dollar; for every copy of paper filed in
seal of said office and certifying to the same fifty
SSeIiIS IN case two or more companies shall COM
pune 10 erect insurance under joint policy pol
ices each and every company thus combining shall
and every one wrote Separate po 5 s or eoeies sae
SecIlen section - of chapter So of the general
lows: Section 81. For the purpose of carrying
INTO effect more thorough supervision and exam
doing business in this state there is hereby eStab
act. The governor by and with the consent of the
quaiified a commissioner Of insurance. who shall
hold his office for the term of two years from the
shall hereafter be appointed and until his successor
shall be appointed and qualified, unless sooner re
moved for cause by the governor Before entering
upon his duties such commissioner of insurance
shall take and subscribe oath of Office TO be filed
with the secretary of state and he shall also exc
cute bond to the state of Wisconsin for the penal
sufficient suretieS conditioned for the faithful per-
formance of his duties, which bond when approved
by the governor shall be deposited with the state
treasurer said commissioner of insurance shall
anu other assistance as ne snail deem necessary,
and at such expense as he shall determine to MAIN
to take charge of and conduct or cause to be con-
Quoted all examinations of the business and affairs
ed by law and generally to exercise such supervis
ion and control over insurance companies doing
business in this state as the law may require: pro-
yided. that the whole amount of expenses of such
amount of fees paid by insurance companies dur
ing such year; and, groridsd, that such expenses
one year shall exceed the sum of thirty-five hun
dred dollars: and preUided further that the amount
lars, received from fire and life insurance compa-
mics, by virtue OF any existing law of this state
ance the state treasurer and go into the general
fund statement OF the receipts and disburse7
report of said commissioner of insurance
Section 3. Section 30 of chapter So of the general
laws of $50 is hereby amended so as to read as fol-
lows: Section 80 Whenever examinations shall
missioner of insurance, personally, or by one or
more of the clerks of said department no charge
sary travelling and other actual expenses, and all
charges for making a OF any
an attorney or appraiser OF this department Shan
shall first be approved by the said commissioner
and then audited by the secretary of state, and
upon the state treasurer, to the person persons
making such examination; and the company ex
charges as audited, and paid by the secretary of
state, shall repay the amount of the same to the
state treasurer to replace the money drawn out as
above provided for, and no company examined
",
gift, gratuity or otherwise, any other or further
sum, to said commissioner or examiners for ser
or on any other pretenSe whatever, said commits
sioner, examiner or any officer clerk or other EN-
plOye, of any insurance company, violating the
provisions of this section shall be guilty of msde
meanor. Said commissioner of insurance, in his
discretion shall not be required to make an exami
nation of such companies, organized outside of this
are similarly supervised by and under the proper
officer, as in such laws provided; and such ofheer
shall furnish, whenever required to do so by the
commissioner of insurance certificate and state
ment exhibiting the solyency of such company.
sioner of insurance all books, records and papers
in Office relating to the subject of insurance to
be kept and preserved by said commissioner in his
= Section l. The superintendent of public property
is hereby directed 10 provide the commissioner OF
insurance with suitable accommodations in the
such stationery as he may need in the performance
of his duties and he shall be furnished with neces-
other state officers are furnished,
Section s. This act shall take effect and be In force
from and after its passage and publication.
= Annrovsd March IL 1878
Published March 49, 1881
CHAPTER 1879.
! AN ACT authorizing the counties cities villages
and towns of this state to refund their indebted
ness.
The people of the state of Wisconsin represented in
senate and assembly, do enact as fOltOlOS:
Section l. The present bonded Indebtedness of
any county, city, village or town in this state may
the same amount by the constituted and statutory
authorities having " charge and power by law, over
ever, and only when such existing bonds can be
retired or paid by the substitution of money real
lied by such issuance of new bonds in the place
and stead of existing bonds, bearing rate of in
terest not exceeding that Of the bonds author
lied to be retired or paid.
Section 2. In case any holder of existing bonds
shall be willing to surrender bonds of any county,
city, village or town and accept in their place and
stead other bonds at the same or lower rate Of
new bonds at a par value of each then the cOnsti
city, village town prescribed in the first section
of this act may, in their discretion, make such
and the substitution ami issuance therefor of such
new bonds, and may extend end the date Of payment
ten years beyond the time when the principal Of
become payable provided, that no such extension
shall be for more than twenty years from the time
such debt was created, except in case of bonds is
sued prior to November l. 1914.
Section 3. Whenever any bonds of any county,
city, village or town shall become due and payable
in anticipation thereof the constituted or Statu-
tory @ hayng the BY aW
tiOn cause to be issued in proper form, new bonds
bonds, which may be issued under the provisions
of this act shall first be offered for sale within the
period of thirty days; notice of such sale shall be
by advertisement in newspaper printed i'll such
therein, and if not then by advertisements posted
Village or town. The terms of sale of such bonds
shall be that to the person bidding the highest sum,
not less than par and offering TO accept the lowest
rate of interest for the whole or any part of said
bonds, the said bonds in whole or in part shall be
have been sold authorized by this act or if any
portion of them shall remain uHsOld at the eXpra-
ton of thirty days. such bonds remaining unSOld
may then be disposed of by the statutory authOr-
ties in such manner as in their Judgment will be
for the best interests of the bond payers but i'll
case shall new bonds be sold except at rate of in
tereSt as low as that borne by the bonds for which
the new bonds are to be exchanged Such
bonds shall bear date and draw interest from the
date of the payment of the bonds retired, and
shall be made payable at some stated place within
the state of Wisconsin, and shall be of denomina-
lions not exceeding one hundred dollars, nor less
than twenty-five dollars.
Section 4. The moneys arising from the sale OF
hand In lRa fnff
shall be app. to the payment and satisfaction of
the bonds the becoming due and payable
Section ). L, principal and interest of all bonds
authorized to b, jSued pursuant to the provisions
of this shall paid i'll the lawful money of tho
United States.
Section g. This act shall take effect and be in force
from and after its passage and publication.
Approved March 10. 1873.