The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1909-07-15

year on all policies or contracts which
have been written on the lives of resi-
dents or property In this state.
Section 1896 Subject to the conditions
ana In the manner prescribed by law, a
corporation may be organized by fifteen or
more residents of this state TO transact
the business of insurance and the articles
thereof may be amended In the manner
provided in chapter SO Of the statutes,
except that such articles and amendments
sgall be filed In the Office of the commits
In the Office of the secretary of state, and
shall be submitted to and approved by
the attorney general before filing.
Section 1897. An Insurance corporate
may be formed for the following purposes
tThe mention OF several subjects or risks
OF Insurance In any subsection indicates
that any one or more or all may be in
cluded.)
I. Fire Insurance. Against loss or
damage 10 property on land, by FIRE, light.
Ming hall, tempest or explosion
=. Marine Insurance. Vessels. freaghts.
goods moneys, effects. and money loaned
on bottomry and respondentla. against the
Perils OF the seas and other perils usually
Insured against by marine Insurance, In
Guiding the risks Of inland transportation
and navigation
8; Life Insurance Upon the lives or
health of persons. and every assurance per-
tanning thereto and to grant. purchase or
dispose OF nnnuities and endowments.
a. Disability Insurance Against bodily
injury or death by accident, and upon tho
health Of persons
Liability insurance Against l'ss or
damage by the sickness, bodily injury or
death by accident. Of any person for which
loss or damage the insured IL liable.
g. 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 Il liable,
pipes engines. motors and machinery con-
nected Herewith or operAted thereby.
I. Fidelity Insurance. Against the loss
from the defaults Of persons in positions
OF trust: public or private, and to guar;
obligations other than that Of Insurance
8. Title Insurance. To examine titles
to real and personal property. furnish In.
formation relative thereto and insure
cumbrance and defects in titles and
against non -payment of principal and In
terest Of bonds and mortgages.
the Hredt 81 Agsnst LOSE from
sured to meet their liabilities.
10. Burglary Insurance. Against loss
or damage by burglary or theft. or both.
ia. Plate Glass Insurance. Against the
6reakage OF glass, located or In transit
IL. Sprinkler Leakage Insurance. Against
loss or damage by water, caused by the
oreakage. or leakage of sprnklers. pumps,
water pipes or plumbing, or its fixture.
sprinklers and other apparatus.
IL. Elevator Insurance. Upon elevators
and vehicles. and to inspect the same and
Issue certificates thereof
"A. Live Stock Insurance. Against loss
or damage to domestic animals except by
hre. and to furnish the services Of q vet.
Urinary surgeon for such animals
10. Other Casualty Insurance Against
loss or damage to property. by any other
casualty which may lawfully he the sub.
1ect OF Insurance. and which shall be speci.
fed In the articles of organization. and for
which no other other provision is made by law.
Section 1914. l. Companies may be
any kind Of insurance authorized by sec.
ton 1907, or upon the mutual plan to
transact the kinds Of insurance described
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
single subsection, except that Z company
may be formed.
ca For the purposes specified In sub
sections etc !. 2, and IL; or
sections 8 and 4 or
&C., For any or all Of the purposes
specified In snbsections 4 to IA, both IN
elusive.
8. insurance under each subsection o.
section 1897 shall be written In separate
and distinct policies. except that the same
policy may embrace risks specified in sub.
sections and II or and S.
crops shall be written In separate and dis.
tinct policies from other insurance men
toned in subsection l of section 1907.
Section 1s07b. 1. The name OF every
corporation hereafter organized doing bus
iness on the mutual plan shall contain the
word mutual" and II 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 tho
words Limited mutual"
2. No name shall be used which shall
DE so similar to any name already In use
as to mlslead the public in any respect.
mutual insurance company shall provide,
(a) That every person, corpora ton, MS
sociaton or partnership insured shall be a
member and shall have one vote.
OBJ For amendment Of the articles BY
vote of three fourths Of the members
voting at regular or special meeting aft.
er the proposed amendment has been filed
with the secretary and the commissioner
OF Insurance and a copy thereof with no.
tice of the time and place Of meeting has
been mailed to each member at least thirty
days prior to such meeting.
Z. The articles OF q mutual insurance
company, subject to tho condition that the
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 be granted; or
lc) The liability Of members, which
liability shall be the annual premium or a
specified number Of times the annual pre-
MUM.
Section 1s97d. I. Every insurance cor.
poration shall adopt bylaws and prescribe
the manner In which the same may be
amended.
copy OF such bylaws and OF any
amendments thereto. accompanied by the
certificate OF the president and secretary
stating that the same have been duly
adopted and that such copy 10 true and
complete. shall be dled with the commits
sicner Of insurance within thirty days aft
er such adoption, and In case of failure SO
to do each shall forfeit twenty i've dol
lars
Section 1s87e 1. In a mutual insur.
ance corporation. a statement OF the
agreements or applications for insurance
made before organization shall be Aled
with the commissioner Of insurance in such
form as he shall require.
= Every person making such agree
nent or application shall. after such I'll.
ing, and until the corporation begins to
transact insurance, be entitled to notice
Of and to participate In all meetings OF
members OF the corpora tion.
Section 1919. l. No stock insurance
company shall transact the business OF In
surance unless:
(a) 1t has a capital stock actually paid,
in cash or invested as provided by law.
Of at least one hundred thousand dollars
for the insurance specified in any one sub
section OF section 1897:
tbl With an additional fifty thousand
dollars for the insurance mentioned In any
other subsection which may be transacted
by such company;
(c) Provided that the capital stock re-
quired or to be added for transacting bust
ness under either subsection to - need
M Nyp fhouaoDd