Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1878-04-25
Published April 6, 1871
CHAPTER 277

AN ACT relating to town insurance compan-
les, and amendatory of chapter 344 Of the
laws of Wisconsin for 1876, entitled "An
act to codify and consolidate all laws in re-
latDn to town insurance companies"
The people of the state of Wisconsin, repre-
serfed in senate and assembly do enact as
folbws:
Section /. Section of 344 of the laws of
Wisconsin for 1875 is hereby amended so as
to read as follows: Section Q. Every COM
pany SO formed shall choose of their number
not less than five nor more than nine directors
to manage the affairs Of said company, who
shall hold their Office for one year ard until
others are elected; and such directors shall
choose one of their number president, one sec
rotary and one treasurer; provided, that the
directors may elect any member of the CON-
pany as treasurer. Such treasurer shall, be-
fore entering upon the duties of his Office. ex-
ecute and file with the secretary of such COM
pany bond conditioned for the faithful dis
charg of the duties of his Office, with two or
more good and sufficient sureties payable to
such company, in the penal sum of not less
than five thousand dollars, and in such further
sum as such direc tors may order, such bond
and sureties to be approved by the president
and two or more of the directors of such COM
pany
Section g. Section of chapter 344 of the
laws of Wisconsin for 1876 is hereby amended
so 81 to read as follows: Section 6. Every
member of such company who may sustain
loss Or damage by fire or lightning shall imme-
diatdy notify the president of such company,
or !, his absence the secretary thereof, who
shall forthwith convene the directors of said
company. whose duty it shall be, when so con-
venel, to appoint committee of not less than
three nor more than five members of such
company, except in case the loss is supposed
to be less than three hundred dollars, then the
PRECEDENT and secretary to appoint such CON-
mitiea to ascertain the amount of such loss or
damage; and in case of the inability Of the
parties to agree upon the amount of such loss
| or amage. the claimant may appoint one dis
interested person on his part and upon re-
ceivng notice from such claimant of such APP
poirtment and the name of the person so APP
poiited, the president of the company shall
| forthwith appoint member of such company.
| and the two persons so appointed shall forth>
with proceed to appoint third person, who
shall be disinterested, and the three persons
| so appointed shall constitute 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
1 tIe secretary Oh SUCH CuiHpahys Mui1u oWdtu
| shall be final. The said committee of refer
ente shall each be allowed the sum of two dol
lars per day for each day service SO rendered,
| and the sum of five cents per mile necessarily
| travelled in the discharge of such duties, which
shall be paid by the claimant, unless the award
of said committee shall exceed the sum offered
| by the company in liquidation of such loss or
| damage. in which case said expense shall be
| paid BY such company.
/ Section 8. Section 10 of chapter S44 OF
the laws of Wisconsin for 1876 is hereby
amended so as to read as follows Section 10
| No company formed under this act shall insure
any property out of the town or towns in
which said company is located provided, how,
eves, that any such company at its annual
meeting may by a majority vote of the menu
bers present, authorize its directors TO insure
any farm property or detached dwelling houses
and contents in any adjoining town or towns,
or in any incorporated city or village, which
is located in or adjoining the towns in which
such town insurance company is located; pro-
| vided, such farm property or dwelling ana
| contents shall be detached at least two hun
dred feet from any exposure; and all acts TO
| which this section is ameudatory shall be con-
strued so as not TO disorganize any town IN.
surance company organized under the laws OF
Wisconsin for 1874, or previous; and all acts
and proceedings Of such town insurance COM