The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1909-07-15
COPY LAWS OF WISCONSIN PASSED DURING SESSION OF 1909

1s41-12 Of the statutes. and to repeal
sections l9fl--3. l941-6 l94l--s. and
i9il-13 OF the statutes relating TO city
and village mutual fire insurance COM
! The people of the State o. Wisconsin,, rep
resented in Senate and Assembly, do en-
! act as follows
Section /. Sections l94l--2, 194l--J,
! l9i1-7, l9i1--a. I94l-10, 1o4l-11. and
| lo4l--l2 of the statutes are amended to
read Section 194l--2. Unless other
/ wise provided by the constitution or by
laws Of any city and village mutual fire
Insurance company, the d.rec,ors, subse-
| quent to the hr.t board, shall be chosen
BY ballot at the annual meeting which
snail be held on ne third
some other day he fixed ter for oy a
majority of the votes of such corporation.
Every person iasdrcd sail lave one vote
at such election; and the tr,nssction OF
all other business, except as otherwise
provided by law, may be determin viva
voee or by ballot as the by avs or other
rules and regulations prescribe.
snd no vote Shall cast more
Section 1s4I--5. Such corporations may
insure insure property loca, ed any,
where In this state but In no case shall
any single ask exceed fifteen
hundred dollars $1,000, ex-
cep' that any such corporation having a
sur LUIS may In ure a sin lie risk in an
uot tXcefOlnR uuS ciSut "a ouc
per centum Of tie insura ce In force, nor
Ten pr centnm OF be rplus, n"r to x
coed three thousand dollars on any single
risk No policy shall be issued for term
Section 1941-9. Whenever the amount
OF 'ny loss shall exceed the
amount of the cash funds Of tine corpora
tion, the president, or In his absenre, the
directors, who shall make an assessment
upon all property insured In proper
to the amount thereof and the rate under
which It may have BEN ella si'ied. sum.
that such board may assess up to four
mills even II such loss should not require
snch An amount. Whenever such assess-
ment shall have been completed the secre-
tary shall Immediately cause to be pub
llshed for three cons c'tive weeks In such
weekly newspaper, printed wfth'n tn" city
or village. II any, in which the office Of
such company Is located, otherwise In such
newspaper printed within the county as
the board Of directors may designate,
notice stating the time when such assess
ment was levied and the time when
the same becomes due; said notice. togeth
OF shall be conclusive evidence Of notice
OF such assessment Or the d.
rec'ors may. for the purpose o. paying
losses within the limit herei after sprcl
hed, borrow sum not exceeding one-fourth
of the premium and interest income Of the
company for the preceding year for time
not exceeding SIX months at rase of In
terest not exceeding seven per cent, and
may. on or before the maturity of such
loan, levy an assessment upon the members
nj the time Of the making of such 'oan,
Tor the payment OF the same and interest
No such loan shall BE- ren'wed. Within
thirty days after the levying Of
such assessment the secretary shall modify
every member BY letter or postal card sent
TO the usual postoffice address, OF the
amount OF such assessment. and the sum
DIR fra ftyN l. IT, nt,n.
time within which and to whom payment
Is to be made. which time shall not be less
than thirty nor more than
sixty days from the date OF such notice.
II the assured neglect TO make
payment of any assessment within the
time specified In the notice cent I'm, his
policy shall be null and void until such
assessment is paid, and also his pro rata
he levied during the suspension Of the
policy on Account of the non-payment Of
a previous assessment.
Section 1941-l0. An action at law
may he brought against any member Of
such corporation who shall refuse or neg
lect to pay any assessment made upon
his Insured pronerty and the directors Of
any such corporation who shnil wi'lful'y
neglect or refuse for thirty days to per
section 1941--a shall be Jointly
and severally liable In Their individual ca
pacty to the persons .u'ta'ning such loss.
Section 1941--11. Any policy
1ol1--52. upon the payment by such mem
ber Of his portion Of all the liabilities ont.
standing at the time Of such cancellat' on.
and the liability on the part Of such mem
Der on such policy shall cease
Section 1941--Jl. Any policy
secretary OF every such cOrpo-
IN zion shall, On or before the first day OF
February In each year. make
such report as may
be required by the commission
er OF Insurance.
Section 2. Section 194l-3, 1a41--6,
1918 and l941--13 Of the statutes are
hereby repealed
1000