The Superior times. [volume] (Superior, Wis.) 1870-1912, 1899-05-20


situated or located Ill this state except
after the said risk has been approved, IN
writing, by an agent who is u resident OF
this state, regularly commissioned and IL
herein, who Shall counterslSn all pohcles
50 issued and receive the COMMISSION there
on when the premium is paid, ana enter
such policy. duplicate policy or contract
anu payment OF premium upon his recoEus,
10 the end that The state may receive lue
taxes Required by law TO be paid on lIe
premiums collected for Insurance on All
property located in this state. Nothing IN
this act shall be construed to prevent ANY
such insurance company or association du-
thOriZtu to transact business in TINS state,
from Issuing policies at its principal or De
pdrtment offices, covering property IN TINS
state, provided that such pOllcleS are IS
sued upon applications procured ana sub
mitted 10 such company by agents VINO are
residents of this state, and. licensed 10
transact the business or insurance mere
in, and who shall Couutersign all polcleS
so issued and receive the commission there
on when paid, and make the entries Thereon
hereinbefOre provided. No provision OF TINS
section is intended 10 or shall apply 10 I'll
rect insurance covering the rolling stock OF
railroad corporations or property in transit
while i'll the possession ana custody or
railroad corporations or other common car
rierS, nor TO the property OF such common
carriers used or employed by them IN their
business as common carriers OF freight,
merchandise or passengers.
Section >. No lire insurance company or
association. shall reiusure i'll any manner
taken by il on property situated or located
in this state in any other company or aSSo-
citation not authorized to transact business
in LhiS state. No fire insurance company
or association shall transfer or cede. IN any
manner whatsoever, TO any company or as
ISOLATION not authorized to do business IN
this state. any risk or liability or any part
thereof assumed by it, under any form or
contract of insurance, covering property
located in this state, including any FISK or
liability under any general or noatlnS poi
icy, or any agreement, general, noatlnS OF
specific, to reinSure excess loss by one or
more fires. No fire insurance company or
association shall reinSure, or assume as Il
reiuSuring company. or otherwise, IN any
manner or form whatsoever, the whole or
any part of any risk or liability, covering
property located IN this state, or any In
SuFanCe company or association not author
lied TO transact business in this state.
Section 3. Whenever the commissioner OF
insurance shall have or receive information
that any fire insurance company or asso-
citation, not Incorporated under the laws or
this state, has violated any of the proVi-
sious of section one Of this act, he Is au-
thOriZed, at the expense Of such company
or association, to examine, by himself or
his accredited representative. at the prln-
cipal office or offices OF such company or
association, located in the United States OF
America. or in any foreign country. ana
also al such other offices or agencies Of such
company or association as he may deem
proper, all books, records and papers or
such company or association, ana may eN-
anime under oath the officers, managers
rs to such violation or violations. The re
fuSal of any such company or ASSOCIATION
10 submit to such examination or TO eN-
hibit its books and records for Inspection
shall be presumptive evidence that II has
violated the provisions of the first section
of this act. and shall be subject to the
penalties prescribed and imposed by this
act.
Section 4 Every fire insurance company
or association shall annually and At such
other times as the commissioner Of inSur-
auCe may require. in addition to all returns
now by law required OF ii or its agents or
managers, make a return to the commits
SiOner of insurance in such form and detail
as may he prescribed by him, of all rein
surance ceSSionS of risk or liability con
tracteu for or effected by it, whether by
issue Of policy. entry on bOrdereau, or gen
eral participation agreement, or by excess
loss reinsurance. or in any other manner
whatsoever. upon property located in this
state. or covering. whether specified or
otherwise. any risk or liability upon prop
erty so located, such return to be certified
10y Jne oath of its president and secretary,
if n COMPANY or association Of one OF the
United States. and. if a company or asso-
citation Of a foreign country, by the oath Of
its managers in the United States as to
through its branch office in the United
States, and nv the oath of its president and
secretary. or by officers corresponding
thereto, at its home office wherever located,
as to reinsurance as aforesaid contracted
for or effected through the foreign office.
The refusal Of any such company or aSso-
quired shall be presumptiye evidence that
il is guilty of violating the provisions Of
the second section of this act, and shall
subject it TO the penalties prescribed and
Section 5. Any insurance company or as
sociation willfully violating or failing TO
observe and comply with any OF the pro-
visions Of this act, applicable thereto, shall
be subject TO and liable to pay penalty OF
five hundred dollars for each violation
thereof and for each failure to observe and
comply with any provisions of this act;
such penalty may be collected and reCOy-
cred in an action brought i'll the name Of
the state in any court having jurisdiction
thereof. Any insurance company or associ-
alton which shall neglect and refuse for
thirty days after judgment in any such
action to pay and discharge the amount Of
transact business in this state revoked by
the commissioner of insurance and such
revocation shall continue for at least one
year from the date thereof, nor shall any
insurance company or association whose
authority to transact business in this state
shall have been so revoked, be again au-
thoriZed or permitted to transact business
herein until it shall have paid the amount
Of any such judgment and shall have filed
in the office of the commissioner of inSur-
ance certificate signed by its president or
other chief officer to the effect that the
terms and obligations Of the provisions OF
conditions of its right and authority to
transact business In this state.
Section g. Any company or person who
snail SOlltlL or pace INSURANCE III Il IRE III
surance company not authorized to do bust
ness in this state shall in the event of the
failur" Of such unauthorized company to
pav any claim or loss within the policy is
sued. be liable to the insured for the
amount thereof to the extent that such
company would have been liable; and such
company or agent shall, on satisfactory
proof of violation Of either of the foregoing
provisions made to the commissioner Of in
surance. have its OF his authority to trans
act business in this state revoked for a
q
Shall not again be permitted to do business
herein until all liability for such violation
shall be discharged and the provisions Of
these statutes concerning the admission OF
foreign fire insurance companies to do bust
ness In this state he complied with. When
ever said commissioner shall receive notice
Of the violation Of any provision of this
section he shall forthwith in person or by
his deputy. visit the Office of the company
or any insurance agent charged with such
violation. and demand an inspection of the
pany or such agent refusing to permit such
inspection shall be deemed guilty OF viOlat-
ing this section. and such commissioner
shall enforce the penalties herein provided
against the same.
Section :. All acts and parts Of acts,
whether general or special incOusist ent
with the provisions OF this act. are hereby
repealed.
section s. This act shall take effect and
be in force from and after Its passage and
publication.
Approved April A. 1899.
No. 339, 81 published April 10, 1899.
CHAPTER 49,