Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1907-08-08
No. 331. 81 Published July IL. 1907
CHAPTER 5O4, LAWS OF 1907.

~ Il. -
CHAPTER 5O4, LAWS OF 1907.
AN ACT to amend section 1850 of the
statutes relating to discrimination by life
insurance companies =
The people of the State of Wisconsin, repre-
scented in Senate and Assembly, do enact
Section /. Section 1850 of the statutes
is amended to read Section 1860. 1. No
life insurance company doing business IN
this state shall make or permit any distinc-
ton or discrimination in favor of indlvldu-
ais between insurants of the same class and
equal expectation of life in the amount or
payment of premiums or rates charged or
in any return Of premium, dividends or
other advantages.
2. No such company or any agent Thereon
shall make any contract or agreement as to
such contract other than as plainly ex-
pressed i'll the policy issued pursuant there
to. nor pay or allow or offer to pay or
allow any rebate of premium payable on the
policy or any special favor or advantage
whatever in the devidends or other bene-
fits to accrue thereon, or any valuable con-
sideratiOn or inducement whatever not
specified in the policy.
g No such company or any agent thereof
shall at the time of soliciting insurance or
issuing policy or at any time in consid-
GRAFTON of or in connection with policy
issued or proposed to be issued, make or
offer to make any contract or agreement
whatever for any deduction from any pre-
mium or an, addition to any dividend or
other benefit whatever, on account of sery-
Ices rendered or TO be rendered by the ap-
plicant for the policy or any person IN
tereSted therein, either as an advisor of the
company or as a member of an advisory
Or similar board or body or in any other
capacity or manner whatever; nor contract
for, sell or offer for sale any stock of such
life insurance company or any stocks, bonds
Or other certificates representing any IN
terest or property in any organized COM
pany or corporation which shall at the time
be under any contract or agreement what
ever with such life insurance company, or
own or control any of the stock thereof, or
In any case where any part or the stocks,
bonds or certificates of Indebtedness OF such
company or corporation shall be owned or
held by such life insurance company, No
person shall so contract with any such
company or agent thereof, or receive any
such favor, privilege or advantage what
eyer. within the meaning OF this act.
1. ANY officer. director or agent aforesaid
or person contracting with such company:
officer, director or agent, in violation OF
any of tine provisions of this section shall
be punished by fine Of not less than nifty
dollars nor more than three hundred dollars
or by Imprisonment in the county Jail Tor
term not exceeding six months, or by
both such fine and Imprisonment.
3. Whenever 1t shall appear 10 the salts
faction of the commissioner of Insurance
after a hearing before him upon notice, that
any company, officer, agent, sub-agent, help
er's agent, broker solicitor has violated
any provision Of this section, he shall re-
woke the license of any such company or
person to transact business in this state,
and no other license shall be issued to any
such company or person within three years
after such revocation.
g. Any such corporation, company, officer
or agent of such corporation or company
shall, upon demand in writing by the COM
missioner of insurance, furnish said com.
missioner with the form or forms OF all
insurance policies, the form or forms of all
contracts for insurance and the form OF
forms of any other paper or papers per
tanning to any contract of insurance or the
maintenance of the same, issued or used OF
authorized to be issued or used by said cor
pOration or company or by its agents OIL
representatives in or about the business OF
life insurance carried on by said corpora
I. on or company. Upon the failure on the
part of such corporation company or Its
regents or representatives to fully comply
with such demand. within a period OF
fifteen days after the service of the same
the commissioner shall forthwith revoke the
authority of such corporation com
Dany, or the license of such agent to dc
business in this state. Service of such de
mand upon, an agent of such corporation OF
company within this state, or a deposit Of
the same registered and addressed to tn,
home Office of such corporation or company
shall be sufficient service.
T. No person. officer or agent of any cor
nnration within the purview of this ac
shall be excused from attendance testify
ing or producing books, papers, contracts
agreements or documents or privileged from
testifying in relation to anything herein
prohibited before the commissioner of In
surance or any court, or in obedience t.
fine subpoena of any court having jurisdic
tion of the otense herein prohibited, on tn