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

19fI-I2 II the sfatutes, nd TO repeal
SEA oas i94I-3, i94i-6. 1918, and
i94 La Of tbe gIaUles relating 70 city
aau village mut al ire Insurance CON-
paHizs
The people OF fle state OF ~ cOnsia, rep
scented q s. ate and ass mbiy. 90 ea.
act as foilowz
sectlon /. Sections lC4l--e. 1941--5.
1888 =, lsttr-9. I941-1 -, 194I-11, and
lf4l-f2 " llv ststatcs are Haelded 10
read Scctica l941-2. Uni IS other
wise provided rs the cost tltloa or by
laws q a4y city AID village mutual hte
insurance company, the rec ors, subse-
qnent g The ~ isoaid. sliali be chosen
ny taliot At The annual meeting which
shall be aeld "a tie third
Monday q January Of each year, unless
some other day be fixed { for by Il
majority Of tie votes If such corporation
Every person is14ed scall save one vote
az Asuca election ma the transaction Of
al 9th r busilCss, except as otherwise
proFidea boy Law, may be determined viva
Foee or by ballot as TIE bylaws or other
Inles ana regulations prescribe.
NO person saafi =ote = proxy excep'
womenand no person shall cast more than
one proxy vote.
insure propertv located any
where in this state. but in 10 case shall
any single risk exceed fifteen
hundred dollars 81, 500. Y ex-
cept that any such corporation having a
surplus may Insure a single risk in an
amount not exceeding one eighth Of one
PSF centum Of tue insurance in sforee, nor
tea per centum o. The surplus, nor to ex
coed three thousand dollars ea any single
FISK. No policy shall be Issued for a term
Of more than three years
Section 1919. Whenever the amount
or any Joss shall exceed the
amount Of the cash funds Of the corpora
ton, the president. or In his absence, the
Yice-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
Wnlch lt may have been classified, suffi-
Gent at least TO pay such loss; provided
thae such board may assess up TO four
mIlls even II such I SIS should not require
such an amount. Whenever such assess
ment shall have been completed the secre-
tary shall Immediately cause to be pub
lished for three consecutive weeks in such
weekly newspaper, printed within the city
or village, II any, u which the Office of
such company is located otherwise in such
newspaper printed within the county as
the board Of directors may Designate a
notice stating the tine when such assess
ment was levied and the 6me when
the same becomes due; aid notice, togeth-
en- with the proof Of the publication there
OF such Assessment. Of The ~
rectors may, for tfas purpose Of paying
losses within the Unit 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 a rate Of in
terest not exceeding seven per cent and
nav, on or Before the maturity of such
ut the time Of the making of such loan,
Tor the payment Of the same and interest
No such loan shall be renewed. Within
thirty days after the Lowing OF
such assessment the secretary shall notify
every member by letter or postal card sent
10 the usual postotiice address, of Fthe
amount Of sach 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 al 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
neglect or refuse for thirty days to per
form the duties Imposed upon them by
section 1@41--9 shall be jointly
and severally liable In their individual ca
Section 1941--11. Any policy
may be cancelled as provided in section
l94l--52, upon ! ne payment by sneh MEM
her of his portion of all the liabilities out
standing at the time Of such cancelat on,
and the liability on the part of such mem
Der on such policy shall cease,
Section l941-I1 Any policy
secretary of every such corpo-
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 g. Section 1914 h-3. 1941-6,
let's and 1a41--13 of the statutes are
hereby. repealed
Approved June IT, 1909.