Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1909-08-13
No. $50, Al Published April Is, 1909.
CHAPTER SO. LAWS OF 1909.

No. $50, Al Published April Is, 1909.
CHAPTER SO, LAWS OF 1909.
AN ACT to amend subsection 8 of section
s947, of the statutes, relating to organi2-
ton of domestic life insurance cor
9orationS.
The people of the State of Wisconsin.
represented in Senate and Assembly, do
enact as follows;
Section ]. Subsection of section 1947
of the statutes is amended to read: Sec
ton 1917. s. No such corporation shall
transact any business of insurance, until
all the following conditions shall be COM
a. If organized without capital stock
ut least two hundred persons
shall have subscribed for not less than
one thousand dollars of Insurance each
and passed Il prescribed medical eNamin-
alton and shah have each paid one full
annual premium in cash upon the insur-
ance subscribed for. amounting in the
aggregate TO at least twenty thousand
dollars. Or. in lieu of such sub
ScriptSons for insurance, the company shall
provide and hold 4 special guaranty fund
Of at least twenty five thousand dollars In
cash or invested as prescribed in section
1921 OF the statutes, to be used Tor no
purpose other than the payment of death
losses, until the largest policy IN force
dedueting any reinsurance thereon in au-
thorized companies. shall not exceed one
half or one per centum of the total IN
surance in force deducting all such rein
Surance Such company may borrow
sum of money sufficient TO provide the
amount to be held as Il special guaranty
fund aud an additional sum to defrAY the
expenses of organization not exceeding ten
Thousand dollars. This loan shall not be
liability and the agreement therefor shall
so provide and that the principal ana IN
terest thereon shall only be repaid from
assets III excess of all liabilities. The
agreement shall also provide for interest
at rate not exceeding eight percentum
per annum and after the release of the
special guaranty fund the principal shall
be repaid in the discretion Of the board
or directors or at Snch times as liked III
said agreement Solicitation of suhscrip-
tons for insurance under this section may
be made by agents holding i certificate
Of authority to be issued by the commits
Sloner in Insurance. Every application for
such insurance shall contain q statement
that the issuance Of the policy is contin-
gent upon the completion OF the organiz-
alton OF the company.
h. If organized with capital
stock until a capital stock of at least one
hundred thousand dollars and
ReS Sqf dollars Of shalt ha1t Rsen sH
scribed for and fully paid in and is held
in cash or invested as provided in section
1851 of the statutes, No part of
such special surplus shall be used for any
purpose other than the payment of death
! losses while the largest policy In force
deducting and reinsurance thereon In au-
thorized companies, shall exceed one-half
OF one per centum of the total insurance
in force. dedncting all snch reinsurance
G.. There shah have been
case of corporation organized without
capital stock, Il fee of one hundred dol
lars, and III case OF il corporation organ
lied with capital stock fee equal to that
required upon the Incorporation of other
corporations under chapter Sc of the stat
utes but no such fees shall be required
to be paid until at the time of the issuing
Of the certificate of authority under sub
section q.
d. A certificate shall have been made
and filed by the commissioner Of insur-
Office setting
corporation has complied with all the pro-
visions of the law and is authorized to
transact the business of life insurance
Section 3 This act shall take effect
and be in force from and after its passage
and publication.
Approved April 10, 1900.
" CHAPTER 40, Laws OF 1908 y
AN ACT to create section 1861 of the
statutes, relating to neglected and aban-
doned animals
The people Of the State of Wisconsin,
represented in Senate aud Assembly, do
enact as follows
Section /. There is added to the stat
utes new section to read: Section 1G3Gr
i. ANY sheriff, constable village mar
shall, police officer or agent of the Wis
consin Humane society may remove, shell
ter and care for any horse or other ami
NAL found to be cruelty exposed to the
weather, starved, neglected or abandoned,
and may deliver such animal to another
| person to be sheltered cared for and given
medical attention, if necessary: but in all
cases the owner, if known, shall be imme
diately notified; and such officer, or other
person, having possession of the animal
shall have a lien thereon for it's care,
keeping and medical attention and the ex-
pense of notice.
.. If the owner or custodian be un-
known and cannot with reasonable effort
| be ascerta1ned, or shall not within five
days after notice redeem such animal by
paying the expenses incurred as afoFe
said, it may be treated eStray ana
dealt with such,
3. Whenever in the opinion Of any snch
officer an animal is hopeiessly injured or
diseased as to be beyond the probability
of recovery it shall be lawful for such
officer to kill such animal and the owner
thereof shall not recover damages for the
| killing of such animal unless he shall
! prove that such killing was unwarranted.
Section 2. This act shall take effect and
be in force from and after its passage and
publication.
Approved April Is, 1909.
| No 1928. Al Published April 10 1909.
A a