Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1909-07-21

1941-12 of the statutes, and to repeal
sections 1941-3, 1941-6, 1941-S, and
19A1-13 of the statutes relating TO city
and village mutual fire insurance COM
pc.nies
The people of the State of Wisconsin,, rep
resented in Senate and Assembly, 90 e.,
Section /. Sections 1941--2, 1941--5,
1941-7, 1918, 1941-1o. 1941--11, and
1S4l-l2 OF the statutes are amended TO
read: Section 1941-2 Unless other
wise provided by the constitution or by
laws OF any city and village mutual fire
Insurance company. the directors, subse-
quent t. the first board, shall be chosen
by ballot at the annual meeting which
shall be held on the third
Monday OF January of each year, unless
some other day be fixed therefor by a
majority of the votes of such corporation
Every person insured shall nave one vote
at such election; and the transaction of
all other business, except as otherwise
provided by law, may be determined viva
voe s or by ballot as the bylaws or other
rules and regulations prescribe.
NO person shall vote lsy proxy except
women, and no person shall cast more than
one proxy vote.
insure property located any
where In this state. but in no case shall
any single risk exceed fifteen
hundred dollars {s1,5oo), ex-
surplus may insure single risk in an
amount not exceeding one eighth of one
per centum of the insurance In force, nor
ten per centum of the surplus, nor to ex-
risk No policy shall be issued for a term
of more than three years.
Section 1s41-s. Whenever the amount
amount of the cash funds Of the corpora
ton, the president, or In his absence, the
vice-president shall convene the board Of
directors, who shall make an assessment
upon all property insured in proportion
to the amount thereof and the rate under
which it may have been classified, suf1-
cienf at least to pay such loss; provided
that such board may assess up to four
mills even if such loss should not require
such an amount. Whenever such assess
ment shall have been completed the secre-
tary shall Immediately cause to be pub
hshed for three consecutive weeks in such
weekly newspaper, printed within the city
or Village II any, In which the Office Of
such company Is located, otherwise In such
newspaper printed within the county as
notice stating the time when such assess
ment was levied and the time when
the same becomes due; said notice, togeth-
er with the proof Of the publication there
Of such assessment. Or the d.
rectors may, for the purpose of paying
losses within the limit hereinafter speci-
fed, 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 rate of in
terest not exceeding seven per cent, and
may. on or before the maturity of such
at the time Of the making of such loan,
for the payment of the same and interest.
No such loan shall DO renewed. Within
thirty days after the levying of
such assessment the secretary shall notify
every member by letter or postal card. sent
to the usual postoffce address, Of the
amount Of such assessment, and the sum
due from him as his share thereof, and the
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.
If the assured neglect to make
payment OF any assessment within the
time specified in the notice sent him, his
policy shall be null and void until such
assessment is paid, and also his pro rata
share of all other assessments which may
be levied during the suspension of the
policy on account of the non-payment of
previous assessment.
Section 1941--1O. An action at law
may be brought against any member Of
such corporation who shall refuse or neg
lect to pay any assessment made upon
his Insured property, and the directors of
any such corporation who shall wilfully
form the duties imposed upon them by
section 1912 shall be Jointly
and severally liable in their individual ca
Section Is4f-11. Any policy
may be cancelled as provided in section
1941-52, upon the payment by such mem
Der Of his portion Of all the liabilities out
standing at the time Of such cancellation,
and the liability on the part of such mem
Der on such policy shall cease
Section 1s41-l1. Any policy
ration 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 1941-3, 1941-6,
1913 and 1941-13 of the statutes are
hereby repealed.
Apnroyed luna 49, 1909