Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1909-07-14

year. - license re for rransacting such
DisHess- two per centun upon the gross
pFennl@Els received during the preceding
year CD all policies or contracts wliet
have Been written on the lives Of resi-
/ denis or property n tails state
SeciIo 1886. SnGieet 10 the conditions
asF "a the Eanner prescribed by law.
{ corpora ION may be organized By fifteen or
more residents 81 this state To transact
me business % insurance and the articles
hereof may be amended, In the manner
pfoTided IN chapter Sc Of the statutes.
except that such articles and amendments
saali be fled in the Office Of the commits
N the Office OF the secretary Of state, and
shau be submitted to and approved BY
the attorney general before fling
seetlon 1877 An Insurance corporation
may be formed for the following purposes
tIhe mention Of several subjects OF risks
o. insurance In any subsection indicates
INA, any one or more or all may be in
Coded
l. Fire Insurance Agai lst loss or
damage to property on land, by fire, kght-
nlng, nan, tempest or explosion.
= Marine InsuEance. Vessels, freights.
goods, 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.
g. Life Insurance Upon the lives or
heaitb Of persons and every assurance per-
tanning thereto, and to- Grant. purchase or
NaspcsE u duuullteS ana enQOWnHeQTH.
4. Disability Insurance. Against bodily
injury or death by accident, and upon tue
health Of persons
8. 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
or to the life, person or property of an
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
obligai ions other than that of insurance.
). Tide Insurance. To examine titles
to zeal and personal property, furnish in
lorna ston relative thereto and insute
cmnbranct and Objects in titles and
against non payment of prir cipal and in
terest If bcnas ana mortgages
3. Credit Insurance AR ainst loss from
the iailure OF persons indie oted to the as
sure0 70 meet their liabil ties.
10 Burglary Insurance Against loss
or damage oy burglary or theft, or both.
breakage of glass, locat I'd or in transit
y. Sprinkler Leak+ge Insurance Against
loss or damage by water, caused by the
L Dfeakage or leakage Of sprinklers, pumps,
water pipes or plumbing, or its fixtures,
| ana against accidental injury to such
sprlnklers and other apparatus.
-. 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
IRE, and to furnish the services Of a 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
lect of insurance, and which shall be speci-
fed nrfi0lng 81 ,,s,r.k q,
which no other provision is made ~ law.
section 1S97a. 1. Companies may be
formed upon the stock plan to transact
any kind of Insurance authorized by sec
tion 1897. or upon the mutual plan to
transact the kinds of insurance des ribed
of section 1891
.. 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
| slngie subsection, except that a company
may be formed.
tal For the purposes specified in sub
sections l, 2, and 10; or
(bl For the purposes specified in sub
sections 3 and 4 ; or
% For any or all of the purposes
specified in sqbsections 4 to IA, both In
B. Insurance under each subsection of
section 1897 shall be written In separate
and distinct policies except that the same
/ pplICN may embrace rtSKS specified In sub
sections l and II or and 8.
D. Insurance against damage by hail to
crops shall be Written in separate and dis
tinct policies from other insurance men
toned in subsection of section 1897.
Section 1s97b l. The name of every
| corporation hereafter organized doing bus
| 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"
= No name shall be used which shall
be so similar to any name already in us
@ TO mislead the public in any respect.
Section 1870. l. The articles of a
mutual insurance company shall provide,
(a) That every person. corporation as
ISOLATION or partnership insured shall be
member aid shall have one vote.
Oh For amendment df the articles by
vote Of three fourtirs of the members
voting at a regular or special meeting aft
err 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 meet3dg has
been mailed to each member at Least thirty
| days prior to such meeting &
>. 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
1S97a;
(b) The territory within which insur-
| ance shall he granted; or
(cl The liability of members. which
liability shall be the annual premium or
/ specified number of times the annual pre-
MUM.
Section 1s97d. l. Every insurance cor
! pcration shall adopt bylaws and prescribe
the manner in which the same may be
amended
\ copy of such by laws and of any
amendments thereto, accompanied by the
| certthcate of the president and secretary
stating that the same have been duly
adopted and that such copy is true and
/ complete, shall be fled with the commits
! siVuer Of Insurance. within thirty days aft
such adoption, and in case of failure so
i TO 10 each shall forfeit twenty five dol
I lars
Section 1S97e l. In a mutual insur-
F., ance corporation. n Statement of the
/ agreements or applications for insurance
( made before organization shall be filed
with the comm missioner of insurance in such
/ forrn as he shall require.
! = Every person making such agree
! meat or application shall. after such i'll
! ing. and until the corporation begins 10
Z transact insurance be entitled to notice
! of and to participate In all meetings of
! members of the corporation.
Section 1879. 1. No stock insurance
| company shall transact the business of In
/ surance unless
(a} 1t has a capital stock actually paid.
! In cash or invested rs provided by law,
/ of at least one hundred thousand dollars
! for the insurance specified N any one sub
/ section of. section 1897
fbl WHh an additional fifty thousand
/ dollars for the insurance mentioned In any
I a. III,