River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1878-05-02

other charges as may be required by the by
laws of the company.
Section 10. ANY such company may classify
the property Insured therein at the time OF
issuing Policies thereon, under different rates,
corresponding as nearly as mas be to the
greater or less risk from fire and loss which
may attach to each OF the several buildings in
sured.
section Ill. Every member of sue company
who may sustain loss by fire, shall immediate
~ notify the secretary who shall proceed at
once TO determine the amount OF loss or dam
re, and, If possible, make settlement. If the
party sustaining loss shall not acquesce in the
decision, the claim shall be submitted to ref
erees, mutually agreed upon, whose award
shall be final. If the amount awarded by the
referees shall be greater than the amount
awarded by the company, the company shall
bear the expense Of the reference, If less, the
the party procuring the reference shall bear
the expense.
Section IL Whenever the amount of any
loss has been ascertained which requires an
assessment to be made, then the president and
the officers of the company shall make an
assessment upon all the property insured, to
the amount for which each several piece of
property is insured, taken in consideration
with the rate of premiums under which 1t may
have been classified.
Section IS. 1t shall be the duty OF the Sec
| rotary whenever any such assessment shall
1 nave De6N competed, 10 lnUleut1lSiN nOlllN
/ every person composing such company, by let
| ter sent to his usual Postofiiee address, of the
! fact of loss. the amount of such and the sum
/ due from him as his share thereof, and of the
time when and to whom such payment
/ is to be made, but such time of payment shah
| not be less than thirty nor more than sixty
days from the date of such notice.
Section IA. 1t assured neglect payment OF
any assessments within sixty DAYS FROM date
of notice. then his policy shall be null and void
until said assessment is paid, and also the
| assessments which may be levied during the
suspen sion of the policy on account OF the
non payment of q previous assessment
Section Is. S6hts at law may be brought
against any member Of such company who
shall refuse or neglect to pay any assessment
made upon them blythe provision OF this act
and the directors OF any company formed.
who shall willfully neglect or refuse to per
from the duties imposed upon tnem by the
provision of this act, shall be liable In theil
individual capacity to the persons sustaining
such loss.
Section l6. The certified copy Of the chart
er provided for in section two of this act may
be used in evidence for and against said com
psny with the same effect as the original.
Section II. II shall be the duty of the Sec
rotary to prepare an annual statement show
ing The condition of said company Oh
the 31st day of December in each year, anC
present the same to the annual meeting.
Section 1S 1t shall be the duty of the pres
ident and secretary of every such company OF
the LIST day of January in each year TO trans
nit 10 the Secretary of State verified state
ment OF the condition OF the company on th'
3lst day OF December then next proceeding
in such form as the said Secretary may direct
Ii upon examination he is OF the opinion tina
such company is doing business correctly
and In accordance with law, he shall thereup
on furnish the company his certificate, which
shall be deemed authority 10 continue bust
ness for the ensuing year. For such exami
nation and certificate the company shall pa,
three dollars. Each company shall pay al III
time of organization for services of Secretar,
of State the sum of ten dollars.
Section 49, Any company organized undo
the provisions of this act may be proceede'
against and dissolved in the manner and upoI
the same conditions as provided for in case o
other Insurance companies Incorporated il
this state.
Sectie 20. ANY member of any such com
pany may withdraw therefrom by giving
notice, in writing, 10 the secretary thereof
and paying up all dues and his ratable shar,
of all loss or damage by fire suffered by sucl
company, up to the date of his withdrawal
the officers shall have power TO annul an
policy hy irving notice in writing to that efiec
l., he holder thereof, and paying all due
which may appear TO be due 10 such member
Section 81. This act shall be in force from
and after lts passage and publication.
| Approved March Is, 1878.