Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1907-08-08
n and held in cash or invested as provided

in and held in cash or invested as provided
in section 1903 of the statutes
d. A certificate shall have been made
and filed by the commissioner of insurance
in his office setting forth that such. cor
poratiQn has complied with all the provl-
sions of the law and is authorized to trans
act the business of life Insurance:
4. The provisions of chapter Sc of the
statutes and the acts amendatory thereof
relating to corporations under the general
law shall apply to all corporations men
toned in this section except so far as the
same are inconsistent with the provisions
of the law relating to life insurance com
panies. The manner of filing articles Of
incorporation shall be the same, except that
such articles shall be filed with and the
fees paid to the commissioner of insurance
The manner Of filing amendments and the
fee upon the filing of any amendment shall
be the same, except that such amendment
shall be filed with and the fees paid to the
commissioner of insurance. In case the
corporation Is formed without capital stock
the signers of the articles shall, subject to
the approval of the commissioner of insur-
ance, fix the time and place for the first
meeting for the election of officers, which
time and place shall be specified in the
certificate of authority to do business here
tofore mentioned but the signers of such
articles shall give written notice thereof
by mail to each person subscribing for in
surance at least twenty days prior to the
holding of such meeting.
5. No life insurance corporation what
ever shall do any business In this state,
nor shall any person act as agent or other
wise within this state In receiving or pro-
curing applications for life insurance or in
any manner aid in transacting such bust
ness for any such corporation
until it shall have first procured a license
from said commissioner authorizing 1t to
issue policies of insurance in this state
and have paid therefor the license fee re-
quired to be paid by section 1920; pro-
vided, that in case any such life insurance
corporation organized under the laws Of
any other state or country, having procured
license as herein provided, shall remove or
make application to remove into any court
ceeding begun in any court of this state
upon a claim or cause of action arising OUT
of any business or transaction done in this
state it shall be and is hereby made the
impera tive duty Of the commissioner to re-
woke any and every authority, license or
certificate granted to such corporation or
any agent thereof to transact any business
in this state, and no such corporation or
agent thereof shall thereafter transact any
business of insurance in this state, till
again duly authorized, and no renewal, H.
cense or certificate of authority shall be
granted to such corporation for three years
after such revoca ton; and, provided fur
ther,. that If the license of any such cor
pOration shall be revoked as aforesaid the
attorney last appointed and the agent last
designated as acting as such for it shall
continue attorney and agent for the pur-
pose Of serving process for beginning az
lions upon any policy or liability incurred
or contracted IN this state, while 1t trans
acted business therein so long as any such
liability shall exist.
Approved July 10, 1907.