sation, one cent on every thousand dollars for the valuation of its policies issued by it on lives. A certified copy of the valuations of the policies of any company organized in this state or any other state, made by the insurance department or other proper officers of the states of Massachusetts or New York, filed in the office of the secretary of state shall be a compliance with this section.

policies.

SECTION 18. No life insurance company organized Not to issue under the laws of this state shall issue policies insuring fire, or marine, or accident, or live stock risks, nor do any banking business.

ried women.

SECTION 19. It shall be lawful for any married Rights of marwoman, by herself and in her own name, or in the name of any third person, with his assent as her trustee, to cause to be insured for her sole use, the life of her husband, son or other person for any definite period, or for the term of the natural life of such person; and it shall be lawful for any person effecting or causing to be procured or effected any policy of insurance of the life of any person, to assign, transfer or cause the same to be made payable to any married woman or to any person in trust, for her or her benefit, whether the person effecting or procuring such insurance or making such assignment or transfer be the husband of such married woman or not, and such policy of insurance, when expressed to be for the benefit of or assigned, transferred or made payable to any married woman, shall inure to her separate use and benefit and that of her children, and in case of her surviving such period or term, the sum or net amount of the insurance becoming due and payable by the terms of the insurance, shall be payable to her, to and for her own use and benefit, free from the claims of her husband, his representatives or creditors, and free from the claims of the person effecting, assigning or transferring such insurance, his representatives or creditors: provided, however, that if the premium on such policy is paid by any person with the intent to defraud his creditors, an amount equal to the premium so paid, with the interest thereon, shall inure to the benefit of said creditors, subject, however, to the statute of limitations. The amount of the insurance may be made payable, in case of the death of the wife, before the period at which it becomes due, to his, her

or their children for their use, as shall be provided in the policy of insurance, and to their guardian, if under age, and the receipt of such married woman or of such children, or of their guardian, if minors, in the cases in which such insurance is payable to them or either of them, pursuant to the terms of the policy and the provisions of this act shall relieve the insur ance company from all further liability therefor. The *****provisions of this section shall apply to all insurances on lives effected before the passage of this act.ebay

Who held to be c agents.

SECTION 20. Whenever the existing or future laws of any other state of the United States shall require of life insurance companies, incorporated by or organized under the laws of this state, or of the agents thereof, any deposit of securities in such state for the protection of policy holders or otherwise, or any payment for taxes, fines, penalties, certificates of authority, license fees or otherwise, greater than the amount required for such purposes from similar companies of other states, by the then existing laws of this state, then, and in every such case, all life or accident insurance com panies of such states establishing or having heretofore established an agency or agencies in this state, shall be and are hereby required to make the same deposit for a like purpose with the state treasurer of this state, and to pay to the secretary of state for taxes, fires, penalties, certificates of authority, license fees or any other obligation, an amount equal to the amount of such charges and payments imposed by the laws of such other state upon the companies of this state, and the agents thereof.mye shamba to korfoq done waivivupe SECTION 21. Every life or accident insurance com pany not organized under the laws of this state, shall before doing business in this state, deposit with the secretary of state a copy of the charter of the company, and a statement, signed and sworn to by the president or vice president and secretary, in the form prescribed or authorized for the annual statement adapted to the business done by such company, vlog done SECTION 22. Whoever solicits insurance on behalf of any life or accident insurance company not chartered by and not established within this state, or transmits, for any person other than himself, an a for life or accident insurance, or a policy of life or accident insurance, to or from such company, or adver

í

tises that he will receive or transmit the same, shall be held to be an agent of such company to all intents and purposes, and subject to all the duties, requisitions, liabilities and penalties set forth in the laws of this state, relating to life or accident insurance companies not incorporated by the legislature thereofreo tompo.') jo

SECTION 28. Any agent making insurance, in vior Forfeit th lation of any law of this state regulating lite insurance companies, shall forfeit for each offense, a sum not exceeding five hundred dollars. on Lulla alop E lo stute

༄།།

SECTION 124 For filing the annual statement Fees of secrerequired in the office of the secretary of state, the said tary of state. secretary shall be paid twenty-five dollars; for each; agent's certificate of authority, one dollar; for every--li modo tan l copy of a paper filed in the secretary's office, twenty cents per folio, and for affixing the seal of said office to such copy and certifying the same, one dollar; and for examining the affairs of any company, when deemed necessary, the expenses incurred therein shall be paid tó said secretary of state by the company o¶ to zab SECTION 25. The secretary of state shall annually, Advertising on or before the first day of May, prepare and print in a single document, the information contained in the statements made under this act, and shall communicate the same to the legislature. He shall also cause the annual statements required to be filed by this act, to be published in the official state paper for one week, and for the like period in a newspaper published in the city of Milwaukee, at the expense of such companies respectively, qumasa si

t

statements.

standing

new policies,

SECTION 26. It shall be unlawful for any life or When judgment accident insurance company against which a final judg- against compament has heretofore been recovered or shall hereafter be ny, not to issue recovered in any court of competent jurisdiction in this and penalty." state, after sixty days from the rendition of such judg ment and while the same shall remain unpaid, unless execution be stayed by appeal according to law, to issue any new policy of insurance, and in case any life insurance or accident company by its officers or agent or agents shall violate the provisions of this section, such life or accident insurance company shall forfeit the sum of one thousand dollars, which may be recov ered in the name of the state of Wisconsin in an action of debt, and when collected shall be paid over to the common school fund, and any agent of such company

1

"

who shall knowingly violate the provisions of this sec tion shall be deemed guilty of a misdemeanor, and up. on conviction thereof shall be punished by fine not exceeding five hundred dollars, nor less than one hundred dollars, or by imprisonment in the county jail of the proper county for a term not more three months Companies pro- nor less than thirty days; and provided, that the Provident Life Insurance Company of Chicago, state of Illinois, and the Eagle Insurance Company of Chicago, state of Illinois, shall not be permitted to issue any policy of insurance in this state, and shall not have any right or privileges whatever under or by virtue of this

hibited.

Must obtain license before transacting business.

act.

SECTION 27. No life or life and accident insurance company shall transact business in this state without first having obtained a license therefor from the secretary of state, which license when issued shall authorize the insurance company named therein and the agents thereof, to transact business in this state until the last day of February following the date thereof. No such license shall be issued by the secretary of state to any life, or life and accidental insurance company until such company shall have filed in the office of the secretary of state, the reports and statements in this act required, and shall have paid to the state treasurer in addition to the fees in this act prescribed, an annual license fee of three hundred dollars, and all life and life and accident companies organized in this state under special charters granted for that purpose, or under general laws, shall pay into the state treasury one per cent. on the cash receipts for premiums received by such company in the state of Wisconsin for the year preceding the making of the annual report as herein before provided, which sum shall be paid to the state treasurer at the time such report is filed with the secretary, for which sum so paid the state treasurer shall execute duplicate receipts. The payment of the sum provid ed in this section, shall be in lieu of all taxes for any purpose authorized by the laws of this state, excepting taxes upon such real estate as may be owned by such company provided, that nothing in this act shail be construed to relieve any company from the payment of any license fees or taxes now due under existing laws upon business transacted prior to January first, 1870..

SECTION 28. Chapters one hundred and fifty-eight Repealed. and one hundred and seventy-nine of the general laws of 1867, and sections one and two of chapter one hundred and eighty-two of the general laws of 1862, so far as they relate to life insurance companies, or the business of life insurance, are hereby repealed.

SECTION 29. This act shall take effect and be in force from and after its passage. Approved March 14, 1870.

CHAPTER 60.

[Published March 19, 1870.]

AN ACT to amend chapter 182 of the general laws of 1865, in relation to public printing.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

เ

SECTION 1. Section five (5) of chapter one hundred Amended. and eighty-two (182) of the general laws of 1865, entitled "an act to amend section fourteen (14) of chapter three hundred and fifteen (315) of the general laws of 1860, entitled 'an act to provide for letting the public printing by contract, and to establish maximum prices for the execution thereof, and to provide for reletting the same in certain cases,' " is hereby amended so as to read as follows: Section 5. The following Maximum prices for printing and binding, and furnishing paper prices. to be used in the public printing, are hereby established as maximum prices for doing the work and furnishing materials for the public printing and binding of this state:

Schedule.

$0.60

90

1 20

Per token

GEN. LAWS.-8.

PRESS WORK.

60