The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1909-07-15

dS.ins 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 or contracts which
nave neen written on the lives of resi-
oeAts Or property in this state
section 1896. Subject TO the conditions
ana IN the manner prescribed by law, n
corporation may be organized by fifteen or,
more residents of this state TO transact
the business OF insurance and the articles
lhereoI may be amended, in the manner
provided in chapter SO of the statutes,
except that such articles and amendments
| snail be filed in the Office of the commits
. sloEer OF insurance instead Of being filed
IA the Office of the secretary of state, and
shaiI be submitted to and approved by
the attorney general before filing.
Section 1897. An insurance corporation
may De formed for the following purposes:
tIhe mention Of several subjects or risks
. ., insurance in any subsection indicates
ciuded.)
l. Fire Insurance Against loss or
damage to property on land. by IRE, light
Hlng, nall. tempest or explosion.
z. Marine Insurance. Vessels. freaghts.
soods. moneys, effects. and money loaned
| on Dottomry and respondents, against the
perils of the seas and other. perils usually
insured against by marine insurance. In
eludlng the risks OF inland transportation
and navigation.
B. Life Insurance. Upon the lives or
nealtn or persons and every assurance per-
tanning thereto, and to grant. purchase or
dispose OF annuities and endowments.
s. Disability Insurance. Against bodily
injury or death by accident, and upon the
health Of persons
.. Liability insurance. Against less or
Damage by the sickness. bodily injury or
death by accident. Of any person for which
ioss or damage the insured is liable
ii lsN&Y A ,tx%~A aor.~
or damage to the property Of the insured
or to the life, person or property of an
otner,. for which the insured lie liable,
caused by. the explosion of steam boilers.
nected Herewith or operated thereby.
I. Fidelity Insurance. Against the loss
from the defaults Of persons In positions
OF trust. public or private, and to guar
andee the performance Of contracts and
obligations other than that Of Insurance.
.. Title Insurance. To examine titles
to real and personal property. furnish in.
formation relative thereto and insure
against against loss or damage by, reason of in.
against non payment of principal and in
terest Of bonds and mortgages
y. 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
oreakage OF glass located or in transit.
Il Sprinkler Leakage Insurance. Against
loss or damage by water, caused by the
oreakage or leakage of sprinklers, pumps,
water pipes or plumbing, or it's fixtures,
and against accidental injury to such
sprinKiers and other apparatus.
10. Elevator Insurance. Upon elevators,
and vehicles. and to inspect the same and
Issue certificates thereof.
IL. Live Stock Insurance Against loss
OF damage to domestic animals, except by
fire, and to furnish the services OF vet
erlnary surgeon for such animals.
10. Other Casualty Insurance. Against
loss or damage to property by any other
casualty which may lawfully be the sub
lect or insurance. and which shall be speci-
neg 10 the articles Of organization. and for
when no other provision Is made by law.
section lS97a. l. Companies may be
formed upon the stock plan to transact
any KING OF Insurance authorized by Sec
tlon 1897, or upon the mutual plan to
In subsections l, 2, 3, A, Is. II, IL and IA
Of section 1897
2. No company shall be formed for the
purpose OF engaging In any other kind OF
OF the subsections Of section 1897, or more
KINDS OF insurance than are specified in
single subsection, except that company
may be formed
sections !, 2, and II; or
sections 8 and A.; or
snee s2 For any OF al Of the purposes
elusive.
81 Insurance under each subsection of
section 1897 shall be written In separate
ana distinct policies, except that the same
polcy may embrace risks specified In sub
sections l and IL or and 8.
4. Insurance against damage by hail to
crops shall be written In separate and dis.
unct policies from other insurance men
toned In subsection of section 1897.
Section 1879. l. The name of eyery
corporation hereafter organized doing bus
lness on the mutual plan shall contain the
word mutual" and II 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
De SO similar to any name already in use
Section 1870. l. The articles Of q
mutual insurance company shall provide
lal. That every person, corporation as
soclatlon or partnership insured shall be
member and shall have one vote.
s(b) For amendment Of the articles by
q 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.
z. The articles Of mutual insurance
company subject to the condition that the
same De 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-
anee shall be granted; or
;. ~tc2 The liability of members. which
liability shall be the annual premium or a
specified number Of times the annual pre-
MUM.
Section 1s97d. /. Every insurance cor.
poratlon shall adopt bylaws and prescribe
amended Z
copy Of such bylaws and Of any
amendments thereto, accompanied by the
certificate Of the president and secretary
adopted and that such copy is true and
complete shall be fled with the commits
sloner Of insurance within thirty days aft
err such adoption, and In case OF failure so
to do each shall forfeit twenty-five dol
lars. 80
Section 1s97e. 1. In a mutual insur-
ance corporation, statement Of the
agreements or applications for insurance
maze before organization shall be filed
with the commissioner of insurance In such
form as he shall require.
Every person making such agree
ment OF application shall. after such FL
ing, and until the corporation begins to
transact insurance, be entitled to notice
OF and to participate In all meetings Of
members OF the corpora ton.
Section 1919. l. No stock insurance
company shall transact the business Of In
surance unless:
(a) 1t has q capital stock actually paid,
In cash or invested as provided by law,
of at least one hundred thousand dollars
for the insurance specified In any one sub
section Of section 1897;