Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1913-08-29
No. 84a 81 Published May 10. 1913.
EHARTER 30. LAWS OF 1919.

No. 84a. 81 Published May 10. 1918.
CHATTER 40. LAWS OF 1918.
ACT. To repeal subdivision (c) Of subsection i,
and subsections 3 and Of section 1915, and sec
lions 1858, l966--l and l9s6-32 to create sub
division (cl ofSsubsectton I, and subsection Of
section 1915. and section 1915m. Of the statutes.
relating the admission and licensing Of insurance
companies and insurers. and providing penalty.
The people Of the State OF Wisconsin, represented in
Senate and Assembly do enact as follows:
Section 1. Subdivision tcl Of subsection l. and
subsections and Of section 1915. and sections
1853 1861. and 1868, Of the statutes are
repealed.
Section q There is added to subsection / Of
section 1915 Of the statutes . new subdivision to
read: (Section 1879 l. tc) Lloyds association,
whereby each associate underwater becomes liable
for proporuonate part Of the whole amount insured
other than Efe insurance, In the state the
terms and conditions insurance companies OF other
states Of the United States. (2 No capital stock
keep and maintain deposit at all times with tht
attorney attorneys in fact for such Lloyds associa
ton licensed in this state. sum In cash or in Sc
curites mentioned In section 1908. equal to three
times the maximum amount assured by such under
writer on any single risk. in lieu thereof the
LOyds association may comply with subsection OF
this section (4) No underwater shall assure any
liability single risk in this state Excluding
reinsurance authorized by the laws Of this stated In
underwater. (5) statement Of such limit Of single
risk and liability. and Of such net worth with the
names. addresses and occupations OF all individual
underwriters shall be fled with the application for
admission, and with each annual statement and
oftener as required by the commissioner.
Section 3. There is added to section 1915 OF the
statutes subsection to read: tSecton 19l5
2. ta) Any such company other insurer shall
first file written instrument duly executed. decar-
ing that it desires to transact the business Of insur
in this state and that It will accept license
therefor according to the laws of this state which
shall cease and terminate in such insurer shall
make application to remove into eourt
of the United States action or proceeding COM
menced in any court Of this state upon claim or
Of action arising out Of business trans
action done therein or In case it shall violate fail
to comply with any provision OF law applicable to
such insurer or in case Its capital shall be impaired
to the extent Of twenty cent, and shall not be
made good within such time as the commissioner or
insurance shall require such commissioner shall. In
either case declare its license revoked therefor
(b) Such insurer shall also appoint. In writing
the commissioner of insurance and his successors in
office to be its true and lawful attorneys upon whom
all legal process in any action or proceeding against
it may be served. and In such writing shall agree
said attorney shall be of the legal force and
validity If served the insurer. and that such
authority shall continue in fierce long there is
any liability outstanding against the insurer In this
state whether the license of such insurer to do bust
In this state shall remain in force shall be
revoked or otherwise terminated. copy OF such
writing. duly certified, shall be fled in the office
of the commissioner and copies certified by him shall
be deemed SUFFICIENT evidence thereof
lei Service upon such attorney shall be deemed
sufAcient service for all purposes upon the principal
and shall be eRectual for all purposes though
made upon corporation or other insurer existing
under the laws of this state. The service of sucn
process shall be made BY leaving duplicate copies
thereof in the hands office Of the commissioner OF
insurance and paying to him for the Of the state
fee of two dollars. certificate BY the Cmmis-
soner Of insurance showing such service and at ached
to the original third copy of such process pre-
sCnted to him for that purpose shall be sufficient
evidence thereof.
tdl record shall be kept by the commissioner
showing the day and hour when any such process
has been served. He shall also Immediately forward
by mail copy of such process to the secretary or
attorney in fact Of the corporation other insurer
upon whom service shall be made or in case Of
corporation other insurer from foreign country
such shall be forwarded to the resident manager
or attorney in fact. If any. in this country.
Section l. There is added to the statutes new
section to read: Section 1915m. l. Individuals
partnerships and corporations OF this state hereby
designated subscribers. are authorized to exchange
reciprocal insurance contracts with each other
With individuals partnerships. and corporations
Of other states and countries providing indemnify
among themselves for any loss which may be insured
against under other provisions Of the laws excepting
life Insurance
O. Such contracts may be executed by an attorney
agent other representative herein designated ar
tcrney. duly authorized and acting for such sub
scrfbers..
g. Such subscribers 80 contracting among them
selves shall. through their attorney. nle with the
commissioner Of insurance declaration verified By
The cath of such attorney. setting forth:
fal The title OF the once at which such
subscribers propose TO exchange such indemnity con-
racts Such name or title shall not be SO similar Is
any other name or title previously adopted by =
similar oxxanization b. insurance corporation
assleialicn In the o1lxion Or the