Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1891-05-14

] Published April "a, 1891.
On pqfE - lfC

NppIoNSu pm "a, 1871
No S3S. A Published April "a 1891
CHAPTER PTS
AN ACT to enable religious and church corpora
lions to form fire insural CO companies for the
purpose % nsurng church property.
The people OF the { ate Of Wisconsin. represent.
Ell IN senate and assembly do enact as follows.
Section Any number Of persons not less
than nine, who are residents OF this state, who
are regular members of any church congrega
t"n. conference. Lresbytery or synod OF said
church may form corporations for the iasuring
uron The plan OF NATURAL insurance. OF church
parsonage and school property including
furniture. fixtures and household goods, and
personal property OF minister. against loss OF
d mage by Ore and Ii hting. The first niue
/ perso' signing such articles of organization.
shall be directors OF such corporation until the
first annual meeting or until others are elected
and shall possess the usual powers given
such officers in similar corporation. when such
articles have been filed with the commissioner
| of insurance, and proof that policies
| In the required number and amount have been
appned for, said articles rhall he examined by
the attorney general, aud IL found in conformity
with the law, the attorney general shall issue his
certificate to the commissioner OF insurance TO
| that effect and the commissioner Of insurance
| shall issue his certificate that said corporation
is duly organized. and Is entitled to do business
| under the laws of this state.
Section 3 Such corporation. in addition TO
/ the powers given by chapter IS, Of the revised
statutes, shall have power
First TO make contracts of insurance IN this
state, with any church board of trustees, OFF,
cial board of any religious denominations against
loss by FIRE and lightning, on any property, real
or personal, held by said church the official
| representative thereof for said church, held or
owned by its pastor or minister for his use
such paster minister, for such pre-
MUM consideration, and under such regula-
1 tionss or restrictions, such corporations may
! provide by its bylaws; provided, that single
/ risk shall exceed the maximum OF two thousa aud
/ dollars
Second. To purchase, receive, hold, possess
and convey all real estate and personal proper
/ ty may be necessary for the accommodation,
and the convenient transaction of the business OF
/ said corporation.
Third TO provide for the admission of mem
I beers and the Withdrawal of the same.
Fourth. To make all necessary rules and reg
ulations for the payment % losses and also
make neeess ry bylaws for the transaction of
! business.
Fifth. 10 fix and appoint all other officers
| and their duties, and TO require bonds for the
faithful performance of their duties; to invest all
/ funds in bonds secured by mortgages upon real
estate, ana IN such municipal bonds, and upon
| such securities as shall appear acceptable 10 The
directors; or TO deposit IN any bank, with or
without interest, any funds not needed for the
payment Of losses and expenses sustained and
to order certain percentage nf an assessment,
10 be held as reserve fund, 10 be used In case
OF extra loss damage.
sixth To exerc Sc such other powers as shall
be necessary TO effect the object Of such corpo-
ration.
Section s. The commissioner of insurance
/ shall issue certificate to any such corporation,
as il shall have been properly organized,
and have twenty five bona fide applicants for
! insurance, averaging at least TIA ouand dol
/ lars each, upon the payment of the license fee of
ten dollars and the issuance Of the certificate Of
/ the attorney-general, as heretofore required,
/ that all requirements Of this act complied
| with, aud II at any time after any such
corporation shall have been organized and be-
gun business the number of policies In force shall
become lees than twenty five. of the average Of at
! least one thousand dollars each, the commissioner
of insurance shall be empowered, TO cancel the H.
cense, and cause the corporation To wind up its af
fairs in the manner provided by law in the case Of
! other insurance eompar es organized in this state
But no resolution for the voluntary dissolution Of
this corporation shall be adopted take effect,
unless three-fourths Of the members present at a
| regular duly called meeting OF the members,
| shall vote for It's adoption.
Section 4. Any church church society or
church corporation, pastor, minister priest,
| holding policy in any such corporation, for the
sum of FIVE hundred dollars shall be member Of
| such corporation for so long such policy is in
force aud shall be entitled to vote to be- cast
| by is representative, for such church church
society for each five hundred dollars Of insurance
20 held. But in case that for any reason such pol
icy shall be forfeited or shall lapse, the holder of
said policy shall not be entitled to any vote, unless
! such policy shall be again renewed
| Section 3. An animal meeting shall be held
! the first Tuesday succeeding the hrst Monday In
January of each year. at the office of the secretary
| of such corporation, for the purpose Of eecting
officers at which meeting the secretary and treas
urer shall make annual report, setting forth the
condition of the corporation, the number Of poll
cies in force, the number Of new, and the number
of cancelled policies and the total amount of risks
written during he year just pHst, the amount of
losses paid, the number of assessments levied, the
condition of the treasury and the financial eondi-
ton of the corporation, and what changes there
have been made in the reserve fund, If there be
one
Section g. The president or the vice-president
and the secretary Of such corporation, shall annu-
ally, within the month OF January, prepare, and
deposit In the Office of the commissioner Of insur-
ance, a statement, verified by their oaths, of the
oft he no nd
condition on the thirty fret day Of December then
next preceding, and containing such items and
facts in regard TO it's business and condition the
commissioner of insurance may require.
Section T. Every member Of any such corpora
ton who may sustain loss under policy issued
by said company. shall Immediately notify the
secretary, In writing who with the president shall
proceed a. soon as practicable, to determine the
loss damage and n possible make settlement.
II the parties sustaining the loss shall not Requies
&c in the decision, the claim shall be submitted TO
referees mutually agreed upon whose inward shall
be hnal: provided. the corporation shall have the
privilege Of paying such appraisal Of making
the loss good in repairing rebuilding properly
! injured or destroyed
| Section g. Whenever the condition of treasury
IL such that assessment is necessary, the score
tary, under the direction Of the director shall pro
coed 10 levy such assessment according TO the
amount for whicl each several policy Issued
taking into consideration the rate Of premium
which has been paid therefor which Is to be
paid thereon. When any such assessment shall
have been completed, the secretary shall notify
every poty ~iioiutE ny It's REPRESENTATIVES btt'iiA
ing to such corporation by letter sent to his usual
postofice address, Of the amount Of the assessment
tina Il then due the time within which, and 70
whom such assessment has TO be paid. but such
time Of payment shall not exceed sixty days from
the time Of the mailing said notice. II he H-surted
uegiects the payment 0fany assessment, for more
than sixty days from the time Of mailing said not
ice said policy shall, at the option Of the direct
ors, be null aud void, unless such assessment is
paid and accepted by the corporation. And the
directors shall have power, IN tie naTne " z4ich
corporation, 10 sue and collect any such assess
ment; and when said assessments are collected The
policy shall be revived.
Section . Any member Of any such corpora
ton may withdraw ths refroin by giving notice in
writing to the secretary thereof and paying up all
dues upon basis Of the usual short rate cancea-