River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1909-07-15

acting the business of casualty or surety
snip insurance shall pay to the state on
or before the first day of March in each
year, as license fee for transacting such
business two per centum upon the gross
premiums received during the preceding
year on all policies contracts which
nave been written on the lives of resi-
dents or property in this state.
Section 1886. Subject to the conditions
anu IN the manner prescribed by law,
! corporation may be organized by fifteen or
more residents of this state to transact
the business of insurance and the articles
. thereof may be amended, in the manner
provided in chapter Sc of the statutes
except that such articles and amendments
/ shall be filed in the Office of the commits
sioner of insurance instead of being fled
shall be submitted to and approved by
the attorney general before filing.
Section 1897. An insurance corporation
may be formed for the following purposes:
tine mention of several subjects or risks
OF insurance in sany subsection indicates
that any one or more or all may be in
cludedl
/. Fire Insurance Against loss or
damage tc property on land, by IRE, light
ming, hail, tempest or explosion.
4 Marine Insurance. Vessels, freights.
gooos, moneys, effects, and money loaned
on bottomry and respondentia, against the
perils of the seas and other perils usually
insured against by marine Insurance, in
Guiding the risks of inland transportation
and navigation
3. Life Insurance Upon the lives or
health OK persons. and every assurance per-
tanning thereto, and to grant, purchase or
dispose OF annuities and endowments.
f. DISABILITY Insurance Against bodily
INJURY or death by accident, and upon the
health Of persons
o Liability Insurance Against loss or
damage by the sickness, bodily injury or
death by accident, Of any person for which
loss or damage the insured is liable.
o. Steam Boiler Insurance Against loss
or Damage to the property of the insured
other, for which the insured is liable
caused by. the explosion of steam boilers,
pipes, engines, motors and machinery con-
nected herewith or operated thereby.
z. Fidelity Insurance. Against the loss
from the defaults Of persons In positions
OF trust, public or private. and to guar
obligations other than that of insurance
D. Title Insurance. To examine titles
to real and personal property, furnish in
against loss or damage by reason of in
cumbrance and defects in titles and
against n-payment of principal and in
terest Of bonds and mortgages.
g. Credit Insurance Against loss from
the failure Of persons indebted to the as
sured to meet their liabilities.
TO- Burglary Insurance. Against loss
or damage by burglary or theft, or both.
IL. Plate Glass Insurance. Against the
oreakage of glass, located or in transit
II. Sprinkler Leakage Insurance. Against
loss or damage by water, caused by the
| breakage or leakage of sprinklers, pumps,
water pipes or plumbing, or it's fixtures,
and against accidental injury to such
sprinklers and other apparatus.
ID Elevator Insurance Upon elevators
and vehicles, and to inspect the same and
Issue certificates thereof.
IA Live Stock Insurance. Against loss
or damage to domestic animals, except by
| fire, and to furnish the services of q vet
Urinary surgeon for such animals.
10. Other Casualty Insurance Against
loss or damage to property by any other
casualty which may lawfully be the sub
1ect of insurance, and which shall be speci-
lied In the articles of organization, and for
which no other PROVISION is made by law.
section 1874. I. Companies may be
any kind of insurance authorized by sec
ton 1897, or upon the mutual plan to
transact the kinds of insurance DESCRIBED
Of section 1897.
O. No company shall be formed for the
purpose of engaging In any other kind Of
insurance than that specified In some one
of the subsections Of section 1897 or more
kinds Of insurance than are specified In
single subsection except that company
may be formed.
(a) For the purposes specified In sub
sections /, 2, and ~; or
(b) For the purposes specified In sub
sections and 4 !; or
/ specified in subsections to Ia, both in
elusive.
g. Insurance under each subsection Of
section 1897 shall be written In separate
and distinct policies, except that the same
policy may embrace risks specified In sub
sections and IL or and 5.
A. Insurance against damage by hail to
crops shall be written in separate and dis
tinct policies from other insurance men
toned in subsection 1 of section 1897.
Section 1872. I. The name Of every
mess on the mutual plan shall contain the
word mutual" and If the liability of the
members to the company and thereby the
liability of the company to the members
shall be limited, the name of any corpo-
ration hereafter organized shall contain the
words limited mutual"
2 No name shall be used which shall
be so similar to any name already In use
as to mislead the public in any respect.
Section 1890. 1. The articles of a
mutual h Insurance company shall provide,
(a) That every person, corporation, as
ISOLATION or partnership insured shall be a
member and shall have one vote
OBJ For amendment of the articles by
vote of three-fourths OF the members
voting. at a regular or special meeting aft
er the proposed amendment has been filed
with the secretary and the commissioner
tice of the time and place Of meeting has
been mailed to each member at least thirty
days prior TO such meeting.
2 The articles Of a mutual insurance
company, subject to the condition that the
same be expressed in every policy, may
limit
~ (a) The insurance to specified kinds or
classes Of property, lives, individuals or
Liabilities within any subsection of section
1897a;
(b) The territory within which insur-
ance shall be granted; or
(c) The liability of members. which
liability shall be the annual premium or
specified number Of times the annual pre-
MUM
Section 1870. l. Every insurance cor
poration shall adopt bylaws and prescribe
the manner in which the same may be
amended.
copy of such bylaws and of any
amendments thereto, accompanied by the
certificate Of the president and secretary
stating that the same have been duly
adopted and that such copy Is true and
complete, shall be filed with the commits
sioner Of insurance within thirty days aft
er such adoption, and in case of failure so
to do each shall forfeit twenty-five dol
lars.
Section 1S97e. l. In a mutual insur-
ance corporation, a statement Of the
agreements or applications for insurance
made before organization shall be filed
with the commissioner of insurance In such
form as he shall require.
2. Every person making such agree
ment application shall, after such i'll
ing and until the corporation begins to
of and to participate in all meetings of
Section 1879. 1. No stock insurance
company shall transact the business Of in
surance unless:
(a) It hasa capital stock actually paid,
IN cash invested as provided by law,
of at least one hundred thousand dollars