Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1891-06-11
No. 679, Al
Published May ), 1891
CHAPTER 44O.

No. 639, A. fuknshed May ., 1891
CHAPTER 40
AN ACT TO provide for the reorganization, of
any corporation organized under the prOyis-
ions of section 177I. of the revised statutes of
Wisconsin, and to define the powers and du-
ties thereof, and the rights of its members.
The people of the State of Wisconsin, repre-
sent d in senate and assembly do enact as
follows:
Section l. Any corporation heretofore organ
ICED under the provisions of section l77l, of the
revised statCtes of Wisconsin, and having q
membership of not less than one thousand Ier-
Sons. may re-Organize and re-incorporate under
the provisions of this act, for the purpose of in
surfing or indemnifying its members, on the as
sessment plan of life Insurance. against accident,
old age and deaths OF against either of them.
Section >. The majority of the board of diree-
tors Of any such corporation. al a regular meet
ing, thereof OF at a special meeting
the provisions OF this act shall make, sign and
acknowledge written articles containing and de-
claring
ton, the date OF its organization, the purpose for
which it was organized the names and resi-
dences OF the president, secretary and treasurer,
or principal officers, the names ana residences OF
the several members of its board of directors its
principal office or place of business. the num-
Der of It's members and the fact that such cor
poration desires to reorganize and incorporate
under the provisions of this act
End. The purpose for which such corpora
ton is recognized and incorporated.
Sd. The name and location of the corpora
ton BIS re.organized, but such name shah not
contain the names of individuals, in the manner
in which they are ordinarily used in partner
ships or business names. No corporate name
shall be held illegal because Of the omission OF
one word limited, or the word mutual.
4th The designation OF the general officers,
their terms of office, and how elected whether
| by the members or by the board of directors.
5th The number of the directors, and their
present classification and terms of office, giving
| the names of the members OF the present board
of directors belonging TO each class. and when
Their terms of Office will expire, and how their
successors viii be elected, and their terms OF
office except when elected or appointed to fill
vacancies
9th. The principal duties of the several gen
earl officers respectively, and of the board OF
directors.
7th That the board of directors shall have
authority to make, amend or repeal by. laws.
| 8th. Whether there shall be all executive
committee, medical board, how elected or con-
stituted their terms of office, and that their gen
eral powers and duties shall be set forth in the
| bylaws of the corporation.
| 9th. Such other provisions and powers, not
| inconsistent with this act, the constitution and
| laws of the United States and the constitution
and laws of the state of Wisconsin, as may be
| necessary or convenient for carrying out the
purposes for which such organization is REIN
| Section 5, true copy of the articles provided
| for in section of this act duly verified by the
president and secretary of sucn corporation.
shall be recorded by the register Of deeds of the
| county in which such corporation is
| located, and not until such articles
are SO left for record, shall such corpor-
| alton be deemed to be re-organized and incOr-
pOrated under this act A. like verified cOpy
SHALL within thirty days, be filed with the secre-
tary of state, and for failure to do the presi-
dent and secretary of scuh corporation shall for
felt each the sum of one hundred dollars.
! Section 4. certified copy OF such articles OF
! incorporation and reorganization by the regis
ter OF deeds or by the secretary of state, shall be
admitted in evidence in all courts and in all
| places in this state.
Section 5. The present officers directors and
| committees and medical board of any scuh cor
pOrat1on shall continue in office and exercise
| their present powers and duties until they are
otherwise provided by bylaws and until their
successors are elected and have qualified.
| Section 1t shall be the duty of the board oil
| directors of any such corporation to make and
adopt code OF bylaws and provide therein how
| persons may be accepted into membership, OF
| suspended or discharged therefrom. The by
| laws shall also prescribe the duties OF members
and the terms and conditions upon which they
shall forfeit their rights of membership. The by.
laws may contain such other matters as the
board of directors may see fit TO adopt in the in
terest of scuh corporation, not consistent with
the purppOes and powers named in the articles
OF Incorporation. and not inconsistent with the
constitution and laws of the United States or the
state of Wisconsin. Provided. that the present
bylaws of any such corporation shall govern un.
til a new code of laws shall be adopted, Pro.
vided, also. that any copy of the by-laW of any
such corporation, certified by the president and
the secretary of any such corporation to be the
bylaws thereof, shall be admitted in all courts
anu leSdl tDlS STATE as conclusive
evidence OF the bylaws of any such corporation.
Section T. The rights and obligations of all
| persons and members of the old corporation
shall remain and be preserved intact in the new
| corporation re-organized and re-incorporated
under this act, subject. however to the right and
| power OF such corporation to make bylaws and
prescribe therein the rights and duties of the
members of such corporations.
| Sections Any such corporation may acquire
and hold real estate necessary and convenient
to carry on its business; it may loan its moneys
and to secure the payment thereof, it may take
notes or bonds and real estate mortgages Ii
shall have power to invest its moneys ana funds
4 III any bonds, certificates or other evidences OF
| Indebtedness. issued by the United States, the
| state of Wisconsin, or by any county town,
school district, or incorporated city or village
within the state of Wisconsin. And such cor
poration may sue or be sued in its corporate
name,
Section 9, This act shall take effect and be
in force from and after its passage and publ.
cation.
| Approved April "a. 1891.
| No. 16J Published Nav 5 1891