Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1878-03-21
Published March s, 1878. 7
CHAPTER 90.

AN ACT to prevent the making and publication OF
of fire insurance
The people Of the state Of Wisconsin, represented in
senate and assembly, do enact as f0UOlCs:
Section l. 1t shall not be lawful for any companv
corporation, association individual or individuals,
now tranSacting, or now or hereafter authorized
transact the business of fire insnra1ce With i.
state to state or represent either by advertisement
any sign, circular, card policy of insurance or GER
fcate Of renewal thereof, or otherwise, any fund.
as assets to be in possession of any such company
corporation, association individual or individuals
ration association, individual or individuals. and
available for the payment of losses by fire AM
held for the protection of holders of policies of fire
insurance, and such statement shall also show tile
amount available and held in the United States.
nouncement, and every sign, circular or card here
Ger, agent manager or legal representatives thereof
now or hereattef F authorized by any existing OF
fire insurance within this state, which shall pur-
orindividuals shall capital actually paid
over all liabilities of such company, corporation,
association Individual or individuals actually
for the protection of holders of their policies of fire
insurance including in such liabilities capital actu
ally paid in. and the fund reserved for reinsurance
of outstanding risks and shall correspond with the
verified statement made by the company, corpora
ton, association individual or Individuals making
or issuing the same TO the insurance department. OF
this state next preceding the making or issuing Of
Section 3. 1t shall be unlawful for any COMPANY
association or corporation tranSactng the business
of fire insurance in this state publish any stare
ment, by newspaper advertisement card or other
wise, which shall represent said company as tran
Sacting different business than il III reality is in
regard to the nature and class of risks written by
said company.
Section 4. ANY company, association or corpora
ton tranSactlnS the business of fire insurance in
this state shall cancel any policy of insurance at
any time, by 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 of the full term the
said policy has been issued
Section ;. Any Violation of any provision of this
act SHALL for the first ofense, subject the Company
corporation, association, individual or indyduaiS
guilty OF such Violation to penalty of five hundred
dollars to be sued for and recovered the name of
the people with costs and expenses of such prose-
cut1on, by the district attoEney of any county in
which the company, corporation, association iidi-
vidua or individuals shall be located or NAV trans
act business, or in any county where such offense
may be committed, and such penalty when rec0y1
efed shall be paid into the treasury of such county
for the benefit of the school fund. Every subse.-
quent violation shall subject the company CORPORA
tOin, association, individual individuals guilty
of such violation to penalty of less than one
ed and disposed of in like manner as for the first
offenSe.
section This act shall take effect and be in force
on and after July lSt 1878.
Approved March !, 1878.