Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1909-08-13

f, acting the business of casualty or surety
ship insurance shall pay to the state on
or before the first day of Marcn IN each
/ year. as license fee for transactlng such
! business two per centum upon the gross
! premiums received during the preceding
rear on all policies or contracts Whlca
| have kean written the lives OF resi-
! dents or property in this state.
Section 1896. Subject re the conditions
and in the manner prescribed Dy iaW'
corporation may be organized by h1teen OF
nlnre rasiGeEls OF this state to transact
the business Of Insurance and the articles
thereof may be amended in the manner
! provided in chapter So of the statutes
EXCEPT that such articles and amendments
shall be filed in the Office of the commits
sioner of insurance instead of being filed
in the Office of the secretary of state, and
shall be submitted to and approved by
the attorney general before filing.
/ Section 1897. An insurance corporation
may be formed for the following purposes
THE mention Of several subjects or RISKS
of insurance In any subsection indicates
that any one or more or all may be IN
! cuded.l
l. Fire Insurance. Against loss or
damage to property on land, by fire, light
ming, hail, tempest or explosion.
2. Marine Insurance. Vessels, freights.:
goods, moneys, effects, and money loaned
on bottomry and respondents, against the
perils Of the seas and other perils usually
| insured against by marine insurance, IN
Guiding the risks of inland transportation
and navigation.
health of persons, and every assurance per-
| tanning thereto, and to grant, purchase or
dispose OF annuities and endowments.
| 4. Disability Insurance. Against bodily
injury or death by accident, and upon the
health of persons.
5. 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.
6. Steam Boiler Insurance. Against loss
or damage to the property of the insured
q mr. NJ
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.
8. Title Insurance. To examine titles
to real and personal property, furnish IN
| cumbrance and defects In titles and
against non -payment of principal and in
| terest Of bonds and mortgages
8. Credit Insurance. Against loss from
the failure of persons Indebted to the as
| sured to meet their liabilities
10: Burglary Insurance Against loss
! or damage by burglary Or theft, or both.
| II. Plate Glass Insurance. Against the
breasage 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 fits 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
II. Live Stock Insurance. Against loss
or damage to domestic animals, except by
fire, and to furnish the services Of a vet
| Urinary surgeon for such animals
10. Other Casualty Insurance. Against
| paS y-hj oh FnQv lox fu1I hn no IN
| Ject of insurance, and which shall be speci-
fed in the articles Of organization, and for
which no other provision is made by law.
Section 1897a 1. Companies may be
| formed upon the stock plan to transact
| any kind Of insurance authorized by Sec
ito tlon 1897, +, or upon the mutual plan to
in subsectfons 1, 2, 3, 4, 5, IL, II and II
| Of section 1897.
2. 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
| may be formed.
(a) For the purposes specified in sub
! sections /. 2, and II; or
~ For the purposes specified in sub
(c) For any or all of the purposes
! elusive.
8. Insurance under each subsection of
section 1897 shall be written In separate
ana distinct policies, except that the same
! policy may embrace risks specified in sub
| sections l and ~ or 4 and 5.
| 4. Insurance against damage by hail to
| crops shall be written in separate and dis
tinct policies from other insurance men
t1o seotn IN subsection Of section 1897
| corporation hereafter organized doing bus
mess on the mutual plan shall contain 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 msle9d aot the public in any respect
mutual Insurance company shall provide,
(a) That every person, corporation, as
sociation OF partnership insured shall be a
! member and shall have one vote.
| (b) For amendment Of the articles by
vote of threefourths Of the members
! voting at regular or special meeting aft
| er the proposed amendment has been filed
| with the secretary and the commissioner
! of insurance and copy thereof with no.
| 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
sam. same be expressed in every policy, may
(a) The insurance to specified kinds or
| classes Of property, lives, individuals or
| liabilities within any subsection Of section
1So7a;
(b) The territory within which insur-
anee shall be granted; or
(c) The liability Of members which
| liability shall be the annual premium or a
! specified number of times the annual pre-
MUM
Section 1S97d. 1. Every insurance cor
/ poration shall adopt bylaws and prescribe
the manner in which the same may be
! amended.
a 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 1879 /. In 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.