Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1901-06-06
Nu. 900, a. |
Published Feb. 2S, 1901.

CHAPTER q.
AN ACT regulating license fees to be paid
ny lie insurance companies, corporations
and associations, and to amend section
I@zV OF the Wisconsin statutes Of 1898, as
amended by chapter 326 of the laws Of
Wisconsin for the year 1899
Inc people of the State of Wisconsin rep
resented In senate and assembly do enact
as follows:
Section i: Section 1920 of the Wisconsin
statutes of 1898, as amended by chapter
30 OF the laws of 1899, is hereby amended
so as to read as follows:
!, section 1920. Every company, corpora
1ion or association transactng the business
or life insurance within this state, except
ing only such fraternal societies as have
lodge organizations and insure the lives
OIL their own members and no others, shall,
on or before the first day of March, in each
year, pay into the state treasury an
annual license fee for transacting such
business the amounts following:
ISL II such company, corporation or as
ISOLATION Is organized under the laws of
this state, and Is not purely an assessment
or stipulated premium plan company under
chapter 270, laws of 1899, three per ccntum
or its gross income from all sources for
the year ending December 31st, next prior
to said first day of March, excepting there
from income from rents of real estate upon
which said company, corporation or asso-
citation has paid the taxes assessed thereon,
and excepting also premiums collected out
side of the state of Wisconsin on policies
held by non-residents of the state of Wis
cOnSn.
In ascertaining the income upon which
such license fee shall be computed as
aforesaid, no deduction shall be made from
premiums, whether paid in cash premi-
um notes, on account Of dividends allowed
or paid to the insured
IND If any such company, corporation
or association is organized without the
state of Wisconsin, and is not purely an
assessment company, it shall pay into the
state treasury, as such annual license fee,
the sum of three hundred dollars, except
that whenever the similar taxes and fees
imposed upon company of another state
under section 1921, statutes of 1893, shall cX-
coed three hundred dollars, the amount Of
the annual license fee shall be deducted.
Section 2. Every other such association,
corporation or company doing business
within this state, whether organized within
or without the state, including all assess
ment companies and associations, and stp-
ulatcd premium plan companies under
chapter 210, laws Of 1899, and excepting
only such fraternal organizations as are
hereinhcfore specified shall, on before
the first day of March in each year, pay
into the state treasury of the state as an
annual license fee, the sum of three hun
drcd dollars.
Section 3. Such license, when granted,
shall authorize the company, corporation
or association to whom it is issued to trans
act business until the first day of March
voked or forfeited. The payment of such
license fee shall be in lieu of all taxes
for any purpose authorized by the laws
of this state, except taxes such real
estate as may be owned by such company,
corporation or association.
Section 4. Any such company, corpora
ton or association may have such license
extended In any year, from the first day
of March to the first day of May. by pay
ing pro rata share of the license fee
prescribed by this act for the intervening
two months and thereafter said annual Ii
cense fee shall be paid the first day of
May of each year, and shall authorize such
company. corporation association to
transact business until the first day of May
of the ensuing year.
Section 5. All acts and parts of acts con
fiicting with the provisions of this act are
hereby repealed
Section G. This act shall not affect, alter
or repeal the provisions of section 1921 Of
the statutes of 1898 which section is here
by declared to be in full force and effect.
Section 7. This act shall take effect and
be In force from and after its passage and
publication.
Approved Feb. %, 1901.