Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1911-08-04

separate and apart from all other
i benefit and expense funds and the val
uatlon of all other business of the So
ciety; provided that where a combined
contribution table is used by society
! for both death and permanent total
! disability benefits, the valuation shall
/ be according to tables of reliable eX-
perience approved by the commission
separation of the funds shall not be
required.
! g. The valuation herein provided
Tor shall not be considered or regard
ed as a test of the financial solvency
OF the society, but each society shall
be held to be legally solvent so long
as the funds in it's possession are equal
to or in excess of its matured liabil-
tiles.
h. Beginning with the year 1914 a
report of such valuation and an eX-
PLANTATION Of the facts concerning the
closed shall be printed and mailed by
the society to each beneficiary mem
Der of the society not later than the
first of each year, or in lieu thereof
such report OF valuation and showing
| of the society's condition as thereby
disclosed may be published in the So
ciety's official paper and the issue con-
tanning the same mailed to each bene-
flclary member of the society.
l. This subsection shall not apply to
any foreign society issuing certificates
IN a sum not exceeding five hundred
fore January /, 1911.
| "a. The commissioner of insurance,
| or any person he may appoint, shall
! have the power of ViSitatiO and eX-
animation into the affairs of any do
nestle or foreign society. He may en-
pIoy assistants for the purpose of such
examination, and he, or any person he
may appoint, shall have free access to
all the books, papers, and documents
that relate to the business of the So
ciety and may summon and qualify as
witnesses under oath and examine its
officers, agents, and employees or other
persons in relation to the affairs, trans
ACTIONS, and condition of the society.
The expense OF such examinat ton shall
be paid by the society examined, upon
statement furnished by the commits
sioner of insurance, and the eXamina
ton shall be made at least once in
three years.
25. The commissioner of insurance
may, in his discretion, in lieu of eX
aiming such foreign society, accept
the examination of the insurance de-
partment of the state, territory, dis
| trict, province, or country where such
society is organized.
q. Pending, during, or after an ex
animation or investigation of any
such society, either domestic or foreign,
| the, commissioner of insurance shall
make public no financial statement, re-
port, or finding, nor shall he permit
to become public any financial state
ment, report, or finding affecting the
status, standing, or rights of any such
SDClelS, uHLlI d copy luG1eO1 small nave
been served upon such society, at it's
home office, nor until such society
shall have been afforded q reasonable
opportunity to answer any such Hnan-
cial statement report, or finding and
to make such showing in connection
Herewith as it may desire.
%. When the commissioner of in
surance on investigation is satisfied
that any foreign society transactinG
business under this act has exceeded
its powers, or has tailed to comply with
any provisions of this act or is con-
Quoting business fraudulently, or is
not carrying out it's contracts in gOo0
faith, he shall notify the society Of his
findings, and state in writing the
grounds of his tisfactiOn, and af
ter reasonable notice, require said So
Ciety, on a date named, to show cause
why it's license should not be revoked.
If on the date named in said notice
| such objections have not been removed
to the satisfaction of the said com
missioner, or the society does not pre-
sent good and sufficient reasons why
it's authority to transact business III
this state should not at that time be
revoked, he may revoke the authority
of the society to continue business in
this state. All decisions and orders
of the commissioner of insurance re-
lating to fraternal benefit societies
may be reviewed as provided for the
review of orders relating to insurance
companies
80. Every fraternal benefit society
organized or licensed in this state
shall be exempt from all and every
state, county, district, municipal and
school taxes or fees, but shall be re-
quired to pay all taxes and special as
sessments on it's real estate and office
equipment and the same fees for fling
it's articles or amendments and annual
report and for certified copies, as pro-
vided by section 1872.
Section 2; Sections 1850, 1858.
1861, and 1955k of the statutes are
remembered and made respectively
subsection of section 1857. and sub
sections %, 26, and 20 of section 1859
of the statutes.
Section g. Sections 1955b, 1850,
1869, 1861. 1861, 1851, 1851, 1955m,
1955n, and 1978X are repealed.
Section 4. This act shall take effect
and be in force from and after it's pas
sage and publication.
Approved May 26, 1911. Copy Law.
No. "a, 81 Published May 81, 1911.
CHAPTER PIT, LAWS OF 1911.
AN ACT to validate and confirm fran