Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1907-08-08
No. 229 ST. Published July IS, 1907.
CHAPTER 597. LAWS OF 1907.

AN ACT to amend section 1854 of the stat
utes, providing for annual statements Of
the business and financial condition of
life insurance companies.
The people of the State of Wisconsin, rep
resented in Senate and Assembly, do
enact as follows:
Section /. Section 1854 of the statutes
Is amended to read Section 1854 Every
life insurance company doing business in
this state shall on or before the first day
OF March In each year, file In the Office OF
the commissioner of Insurance an annual
statement giving a complete and accurate
exhibit of its business and financial condi-
ton signed and verified by the affidavits of
the president and secretary, or If a foreign
corporation by its resident managing Of
fcer in the United States, and covering the
year ending on the preceding thirty-frst
day of December, and its business for that
year, and exhibiting the following facts
and items (1( The name Of the company
(2) Where located. (3) When incorporated
and for what period. a. Amount of CAPT
real property held by the corporation, the
dates of acquisition, the names of the
vendors, the actual cost, the value at which
it is carried on the company's books, the
market value, the amounts expended during
the year for repairs and improvements, the
gross and net income from each parcel, and
If any portion thereof be occupied by the
company the rental value thereof, a state
ment of, and all purchases and sales made
since the last annual statement, with par
ticulars as to dates, names of vendors and
amount of existing loans upon the security
of real property, stating the amount loaned
upon property In each state and foreign
country. 60 The moneys loaned by the
corporation to any person other than loans
upon the security of real property above
mentioned and other than loans upon poll
cies the actual borrowers thereof, the ma
turity and rate of interest Of such loans,
the Securities held therefor, and all sub
stitutions of securities in connection there
with, and the same particulars with REFER
ence to any loans made or discharged since
the last annual statement. (S) All other
property owned by the company or in which
it has any interest (including all securities,
whether or not recognized by the law as
proper inyestments), the dates OF acqulsl-
ton, from whom acquired, the actual cost,
the value at which the property Is carried
upon the books, the market value, the In
terest or dividends received thereon, during
the year; also all purchases and sales OF
property other than real estate made since
the last annual statement, with particulars
as to dates; names OF purchasers ana sell
ers, and the consiuera ton; and also the
income received and OUTLAWS made In CON
nection with all such property. (9) Casn
in office and in bank (10) Premium notes
and loans on policies in force. G1l1 0Hr,
in force. (12) All other loans, invest
ments and property. (13) All outstanding
losses and policy claims (14( Al! other
liabilities and claims against the company,
(15) Cash received for premiums. l16(
Cash received for interest and rents; 10
Income from all other sources. (1S) PAID
for losses and claims. (19) Dividend OK
expenses (21) All other expenditure
(22) All commissions paid to any, persons
In connection with loans or purchases OF
sales Of any property. ana statement Oh
all payments for legal expenses, giving par
ticulars as to date, amounts and names ana
addresses of payees. C23) ALI moneys eX-
pended in connection with any matter PEND
ing before any legislative body or any. OIL
Ger or department of government giving
particulars as to dates, amounts, names
and addresses of payees, the measure or
proceeding in connection with when the
payment was made, and the interest OF
the corporation therein. (24) The names
Of the officers and directors or the com,
pany, the proceedings at the last anhual
election, giving the names oil candidates
and the number of votes cast for each ana
whether in person, by proxy or by mall
(25) The salary, compensation anu ealol ~
EMPLOYEES and where the same amounts TO
more than three thousand dollars, also SAT-
airy, compensation and emoluments OF three
thousands dollars or over received by any
person firm or corporation, with partlcu-
lars as to dates, payees and the authority
by which the payment was maze also an
salaries paid to any representative ei eina
at the home office, or at any oranch onCe'
or agency, for agency supervision, also the
commissions received by each general agent
stated separately as to first year ana re-
neWal commissions, the amount palu 10 SUD
agents, the amount paid out in expenses
of the agency ana the net compensation OF
the general agent (26) The largest bal
anceS carried in each bank or trust COM
pany during each month of the year. GO
All death claims resisted or compromised
during the year, with particulars as TO
sums insured, sums paid and reasons as
Same in each case (2S) The rates OF an
nual dividends declared during the year
for all plans Of insurance ana all duratlohs
and for ages at entry twenty-five, tnIItiy,
oynd fu-
methods and factors by when sucn ulvt-
dends have been declared. (29) state
ment of any and all reserve or Surplus ILhos
funds held by the company and Tor what
nurnOse they are claimed respectively 70 De
held. 800 Number and amount OF pollcy
loans and rates Of interest charged on suc1
loans (31) Number OF policies anu
amount of Insurance lapsed on which loans
had been granted, giving net value OF pom.
cies and amount of loans. (3zl Aino1 fn
separately paid insurance departments L1T
examination and valuation fees ana al
other payments, not including statutory
fees. licenses and taxes payable to the
various states. (33) Amount OF statuIory
fees licenses and taxes PAID Tor prlVnege
Of fransacting business, separately Com
many licenses agents licenses, ming ana ue-
partment fees, advertising, ret9Iatory
taxes, state taxes on premiums or InS T'Ire
local license or privilege tax C9f) Null
her and amount of Wisconsin policy loans
1857 Number and amount OF loans on WIS,
consn real estate. For any iaIluIe ~
make and deposit such annual statement, OF
for wilfuliy making any false statement sient
therein every such corporation or olnceI
failing or making such faIse sta nd fnr
every neglect to file such annual state
ment an additional five hundred dollars for
every month while such company snail nave
any policy in force in this stare until suc c
statement be filed, 1t shall be the duty
Of the commissioner of insurance to pub
lish the information contained in suc9 9 an an
nual statement in the annual report Oh .ne s
insurance department for the information
Section 2 This act shall take effect and
be in force from and after its passage ana
publication.
Approved July II, 1907.