All existing companies this act. tion under its corporate seal, signed by its president and directors, of their desire for such extension, to extend the term of its original charter to the time specified in section twenty-five of this act, by altering and amending the same so as to accord with the provisions of this act, and filing a copy of the same in the office of the secretary of state, whereupon the same proceedings shall be had as required in the tenth section of this act. SECTION 18. All insurance companies heretofore brought under Organized in the state of Wisconsin, and now doing business in this state, are hereby brought under all the provisions of this act, except that their capitals may continue of the amounts and character named in and authorized by their respective charters, during the existing term of such charters, and the investments of the capital and assets of such companies may remain the same as prescribed by their charters, anything in this act to the contrary notwithstanding; and such companies shall also be entitled to all the privileges and powers granted by said charters. All companies corpor Officers to file statement of condition. SECTION 19. All companies incorporated or extended under this act, shall be deemed and taken to be bod. ies corporate and politic, in fact and in name, and shall be subject to all the provisions of law in relation to corporations, so far as the same are applicable. SECTION 20. It shall be the duty of the president or vice-president and secretary of each company or ganized under this act, or incorporated under any law of this state, annually on the first day of January of each year, or within one month thereafter, to prepare under their own oath, and deposit in the office of the secretary of state, a statement of the condition of such company on the thirty-first day of December then next Statement to preceding, exhibiting the following facts and items in the following form, namely: embrace Capital stock. Assets. First. The amount of the capital stock of the company. Second. The property or assets of the company specifying: 1st. The value, as near as may be, of the real estate held by such company. 2d. The amount of cash on hand and in such company's office, and also the amount deposited in bank to the credit of such company, and specifying in what bank or banks the same is deposited. 3d. The amount of loans secured by bonds and mortgages constituting the first lien on real estate, on which there shall be less than one year's interest due or owing. 4th. The amount of loans on which interest shall not have been paid within one year previous to such statement. 5th. The amount due the company, on which judgments have been obtained. 6th. The amount of stocks of this state, of the United States, of any incorporated city of this state, and of any other stocks owned by the company, specifying the amount, number of shares and the par and market value of each kind of stock so held. 7th. The amount of stocks held thereby as collateral security for loans, with the amount loaned on each kind of stock, its par value and market value. 8th. The amount of the assessments on stock or premium notes, paid and unpaid. 9th. The amount of interest actually due and unpaid. 10th. The amount of premium notes on hand on which policies are in force. Third. The liabilities of such company, specifying: Liabilities. 1st. The amount of losses due and unpaid. 2d. The amount of claims for losses resisted by the company. 3d. The amount of losses incurred during the year, including those claimed and not yet duc, and those reported to the company upon which no action has been taken. 4th. The amount of dividends declared due and unpaid. 5th. The amount of dividends, either cash or scrip, declared but not yet due. 6th. The amount of money borrowed and security given for the payment thereof. 7th. The amount required to re-insure all outstanding risks. 8th. the amount of all other existing claims against the company. Fourth. The income of the company, during the Income. preceding year, specifying: 1st. The amount of interest money received. 2d. The amount of cash premiums received. 3d. The amount of notes received for premiums. 4th. The amount of income received from other sources. Fifth. The expenditures, during the preceding Expenditures. year, specifying: 1st. The amount of losses paid during the year, stating how much accrued prior, and how much subsequent to the date of the preceding statement. 2d. The amount of dividends paid during the year. 3d. The amount of expenses during the year, stating the amount paid officers' salary and fees; the amount paid agents commission and fees, and Secretary of state may ad dress inquiries to companies. Penalty for failure to make statement. the amount paid for office expenses and rents, the amount for taxes, and the amount of all other payments and expenditures. SECTION 21. The secretary of state is hereby authorized and empowered to address inquiries to any insurance company or any officer thereof, in relation to the doings or condition or any other matter connected with its transactions; and it shall be the duty of any company or officer so addressed, to promptly reply in writing to any such inquiries. The statement of any company, the capital of which is composed in whole or in part of notes, shall in addition to the provisions of the foregoing section, exhibit the amount of notes originally forming the capital, and also what proportion of said notes is still held by such company and considered capital. The statements herein provided for shall be in lieu of any and all statements now required by any existing laws. Every fire insurance company organized under any law of this state, failing to make and deposit such statements, or to reply to any inquiry of the said secretary of state, shall be subject to the penalty of five hundred dollars, and an additional five hundred dollars for every month that such company shall continue thereafter to transact any business of insurance. It shall be the duty of the secretary of state to cause state to furnish to be prepared and furnished to each of the companies and to the attorneys of companies incorporated by other states and foreign governments, printed forms of the statements required by this act, and he may from time to time make changes in the form of such statements as shall seem to him best adapted to elicit from the companies a true exhibit of their condition in respect to the several points hereinbefore mentioned. It shall be the duty of the secretary of state to cause the information contained in the statements required. by this section to be arranged in a tabular form, and publish the same on or before the first day of May next succeeding. Secretary of blanks. Not lawful to take risks without required ital. SECTION 22. It shall not be lawful for any fire insurance company, association or partnership incorpoamount of cap rated by or organized under the laws of any other state of the United States, or any foreign government, for any of the purposes specified in this act, directly or indirectly, to take risks or transact any business of insurance in this state, unless possessed of the amount of actual capital required of similar companies formed under the provisions of this act, and any such company desiring to transact any such business as aforesaid by any agent or agents in this state, shall first appoint an attorney in this state on whom process of law can be served, containing an agreement that such company will not remove the suit for trial into the United States circuit court or federal courts, and file in the office of the secretary of state a written instrument, duly signed and sealed, certifying such appointment, which shall continue until another attorney be substituted; and any process issued by any court of record in this state, and served upon any such attorney by the proper officer of the county in which such attorney may reside or may be found, shall be deemed a sufficient service of process upon such company, but service of process upon such company may also be made in any other manner now provided by law. In case any insurance company If foreign com do business in deemed Statement to be not incorporated in the state, shall cease to transact pany cease to business in this state according to the laws thereof, the this state, agents last designated or acting as such for such corpo- agents m ration, shall be deemed to continue agents for such cor- agents. poration for the purpose of serving process, for commencing action upon any policy or liability incurred or contracted while such corporation transacted business in this state, and service of such process for the causes aforesaid, upon any such agent, shail be deemed a valid personal service upon such corporation, and every such company, association or partnership shall also file a of their charter or deed of settlements, fled, and what certified copy together with a statement, under oath of the president to contain. or vice-president or other chief officer and secretary of the company for which he or they may act, stating the name of the company and place where located, the amount of its capital, with a detailed statement of its assets, showing the amount of cash on hand, in bank, the amount of real estate and how much the same is encumbered by mortgage, the number of shares of stock of every kind owned by the company, the par and market value of the same, amount loaned on bond and mortgage, the amount loaned on other security, stating the kind and amount loaned on each and the estimated value of the whole amount of such securities, any other assets or property of the company, also stating the indebtedness of the company, the amount of losses adjusted and unpaid, the amount incurred and in process of adjustment, the amount resisted by the company as illegal and fraudulent, and all other claims existing against the company, also a copy of the last report, if any made under any law of the state by which such company was incorporated; and no agent shall be allowed to transact business for any such company, whose capital is impaired to the extent of twenty per cent. thereof, while such deficiency shall continue, and any company incorporated by or organized under any foreign government, shall in addition to the foregoing, file in the office of the secretary of state a statement verified by the oath of the president, secretary or manager of such company, resident in the United States, showing to the satisfaction of the secretary of state, that such company has invested in the stocks or bonds of the United States, cf the state of New York or Wisconsin; such stocks or bonds to be in all cases equal to a stock producing six per cent. per annum, or in bonds and mortgages on unincumbered real estate worth fifty per cent. more than the amount loaned thereon, the sum of at least two hundred thousand dollars, and that such stocks or bonds are deposited with the superintendent of the insurance department, state treasurer or other proper state officer of some one of the states of the United States, or are held by a citizen or citizens of the United States, as a trustee or trustees, and that such securities are not pledged or incumbered, but are held and remain for the benefit and security of the policy holders of such company, residing in the United States, or in default of such statement, shall deposit with the state treasurer for the benefit and security of policy holders residing in the United States, a sum not less than fifty thousand dol lars, in stocks of the United States or of the state of Wisconsin, in all cases to be equal to a stock producing six per cent. per annum, said stocks not to be received by said treasurer at a rate above their par value, or above their current market value, or in bonds and mortgages on improved unincumbered real estate in the state of Wisconsin, worth fifty per cent. more Stocks and se- than the amount loaned thereon. The stocks and curities deposit- securities so deposited may be exchanged from time changed. to time for other securities receivable as aforesaid; and ed may be ex |