Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1891-05-28
ss 1884,

| interest in the assessment and direct payment
! OF sach assessment 10 be made Rot latter thar
the ihirty-frst day OF December next following
- the assured neglect 10 make payment Ct an,
assessment within the time specified 10 the no
tice 70 be sent him by the secretary as hereiube
fore provided. then his policy shall be null ant
void until such assessment Is paid, and also hi.
pro rata share Of sll other assessments which
may be levied during the suspension Of the policy
on account Of the nOn-payment Of 3 previOu,
assessment. Actions may be brought against
any member Of such corporations, who shall re
fuse or neglect TO pay any asse-s meni made npeF
his insured property under tue provision OF thi.
act. and the directors OF aIy such corporation
VINO shall wilfLlly neglect OF refuse FOR thirty
days - perform the duties imposed upon them
by this o. the next preceding section shall BE-
jointly and severally liable IN their individual
capacity to the persons sustaining such loss
Section II. Section 4 OF said act is hereby
amended by striking out the words, and paying
his share of all claims then existing against said
corporation" aud inserting IN lien thereof tse
following: and paying all dues and assessments
which he may then owe said corporation. ~ SC
that said section II. when so amended shall read
as follows; section Il. Any member OF such
corporation may withdraw therefrom by giving
notice in writing 10 the secretary thereof, and
paying all dues and assessments which he may
then owe said corporation: aud the directors. or
majority thereof. or such or so many OF them
as they may have appointed as a committee for
such purpose, shall have power 70 annul any
policy by giving five days notice in writing ID
that effect to the holder thereof
Session IL. sec ion u OF said act Is hereby
amended by striking out the words, "the names
Of all persons insured, the amount insured 0y
such policy" aud by striking ont the words. "a
detailed statement OF every item OF expenses.
so that said section when so amended shall read
as follows: "Section IL. The secretary of every
such corporation I'll annually prepare state
ment showing IFS condition on the thirty first
day OF December preceding Its annual meeting
which shall contain the whole number OF policies
issued. the whole number then in force, the ag
gregate amount then insured and the aggregate
amount Of losses paid by the corporation since
its or ganization the whole amount Of losses sus-
tanned and unpaid if any. and all such Other
matters pertaining to the interest of such corpo
ration as by the bylaws he may be required q
poratlon shall annually prepare q statement ol
Its financial condition on the thirty first day oil
December next preceding its annual meeting
showing amount on hand January lst preceding
amount received during the year from pre=i
uns. amount received from assessments. mum
amount paid for losses, amount paid for expcn
ses, and amount of cash on hand aud such Other
items as the bylaws may require Such state
ments Jr so much thereof rs said corporation al
its annual meeting may by resolution or other
wise agree upon. shall be read to the members OF
such corporation al their annual meeting anC
entered at length upon the records and. within
fifteen days after such annual meeting shall be
filed in the office Of the city or village clerk, oil
in case Of county company with the county
clerk of said county and copies thereof certified
by the secretary transmitted tothe commissioner
0fiusurauce.
Section {. Allacts or parts of acts Inconsistent
with the provision Of this act are hereby re
pealed.
Section Il. This act shall take effect and be il
force from and after its passage and publication
Approved April IT, 1891