are issued." Sec. 3. "*** All certificates hereafter issued shall expire annually upon the expiration of the license of the company issuing the same, unless previously revoked, pursuant to law." The Insurance Department does not license agency corporations. Licenses are issued only to individuals, and each member of a firm must be licensed. Sec. 1976. “5. No person shall be required to hold such certificate of authority from more than one company for the purpose of acting as agent and receiving commissions for transacting the kind or kinds of insurance authorized by such certificate for any other company in co-operation with any person holding such certificate of authority for such other company. This sub-section shall not apply to life insurance." Every person violating the provisions of this section shall be guilty of a misdemeanor and be punished by a fine of not more than $500 for each offense. ANNUAL STATEMENTS-Must be filed in January, showing condition as of preceding December 31. Time may be extended for due cause, upon request, not longer than sixty days. ANTI-COINSURANCE—Sec. 1943a, Statutes of 1913. "Except as otherwise provided by law, no fire insurance company shall issue any policy in this State containing any provision limiting the amount to be paid in case of loss below the actual cash value of the property, if within the amount for which the premium is paid, unless, at the option of the insured, a reduced rate shall be given for the use of a co-insurance clause made a part of the policy. The rate for the insurance, with and without the co-insurance clause, shall be specified upon every policy. Any company may, by so providing in the policy, distribute the total insurance in the manner and upon as many items as specified therein, or limit the amount recoverable upon any single item, article, or animal to an amount not exceeding the cost thereof, or to an amount specified in the policy." ANTI-COMPACT-Sec. 1943b, Statutes of 1898. "No fire, fire and marine, or marine and inland insurance company or association, its agents or representative doing business in this State, shall, either directly or indirectly, enter into any contract, agreement, combination or compact with any other such company or companies, or its or their agents or representatives, for the purpose of establishing and maintaining a fixed schedule or schedule of rates; provided, that in cities and villages it shall be lawful for the local board of underwriters, incorporated under the statutes of this State, and in case of the non-existence of such board therein, for an association of the local agents, in such city or village, to, from time to time, establish and maintain rates therein, and for them and such companies represented by them to enter into any lawful contract or agreement to so establish and maintain rates so made; all such schedules shall at all reasonable times be open to the inspection of the insured or any person applying for insurPenalty for violation, $500 and revocation of license. * insurance company or any agent thereof shall make any contract or agreement as to such con ance. * * *"" ANTI-REBATE-Sec. 19550. "2. a. No * * * tract other than as plainly expressed in the policy issued pursuant thereto. *b. No insurance company or any officer, agent, director or employee thereof, doing business in this State, shall pay, * * allow or give or offer to pay, allow or give, nor shall any person receive, any rebate of premium payable on the policy, or any special favor or advantage whatever in the dividends or other benefits to accrue thereon, or any valuable consideration or inducement whatever not specified in the policy. c. No person shall as agent receive any compensation for effecting insurance upon his own property, life or other risk, unless during the twelve months preceding, as the agent for the company assuming such risk, he shall have effected other insurance therein, the premium on which shall exceed the premium on the insurance so effected on his own risk. d. This section shall not prevent the payment of the whole or any part of any commission to a domestic corporation, except that no commission shall be so paid where any officer, employee or stockholder of such corporation shall be interested in the property or risk, the insurance on which produces such commission, otherwise than as an agent authorized under section 1976. e. Any agent may pay the whole or any part of his commissions to: (1) An agent other than a life agent, holding a certificate of authority under section 1976 for writing the kind of insurance for which such commissions are paid. (2) A non-resident insurance agent, or any insurance company authorized in this State, as to insurance upon property owned by non-residents or located wholly outside of this State. (3) A non-resident agent of the fidelity or surety company paying such commissions. Except as aforesaid, no agent shall pay the whole or any part of the commissions upon any policy to any other person. f. Provided, that any company may make distribution of savings, earnings or surplus to any class of policyholders, without having specified such dividends or distribution in the policy, where a schedule is first filed with the Commissioner of Insurance. h. Provided, that the furnishing of information, advice or service by any company, officer, agent, director or employee thereof, with regard to any risk or for the purpose of reducing the loss or liability to loss, shall not be a violation of this section." (Sec. 1955, 1913.2.) (i). "The extension of credit to the insured upon a premium without interest for not exceeding sixty days from the time the insurance is written, or thereafter with interest at not less than the legal rate, as agreed upon in writing, shall not be a violation of this section." * * 3. No * insurance company or any agent thereof shall at the time of soliciting insurance or issuing a policy, or at any time in consideration of or in connection with a policy issued or proposed to be issued, make or offer to make any contract or agreement whatever for any deduction from any premium or any addition to any dividend or other benefit whatever, on account of services rendered or to be rendered by the applicant for the policy or any person interested therein, either as an advisor of the company or as a member of an advisory or similar board or body or in any other capacity or manner whatever; nor 466 FIRE INSURANCE LAWS, TAXES AND FEES. contract for, sell or offer for sale any stock of such insurance company or any stocks, bonds or other certificates representing any interest or property in any organized company or corporation which shall at the time be under any contract or agreement whatever with such * * * insurance company, or own or control any of the stock thereof, or in any case where any part of the stocks, bonds or certificates of indebtedness of ** insuch company or corporation shall be owned or held by such * surance company. No person shall so contract with any such company or agent thereof, or receive any such favor, privilege or advantage whatever, within the meaning of this act. 4 a. Notwithstanding any violation of this section the policy shall be valid, but the insured, having knowingly and wilfully violated any provision of this section, shall be entitled to recover from the company only such proportion of the amount otherwise payable under the policy or contract of insurance as the amount of the premium or premiums which have become payable, according to the terms of the policy, deducting any rebate and the value of any special favor or advantage or consideration or inducement in violation of this section, bears to the amount of such premium or premiums. b. Any company, officer, director, agent or employee thereof violating this section and any other person knowingly and wilfully * violating this section shall be punished by a fine of not less than fifty dollars, nor more than three hundred dollars, or by imprisonment in the county jail for a term not exceeding six months, or by both such fine and imprisonment." Sub-sections 5 and 5m provide a further penalty in the revocation of the agent's license, which may not be renewed for from six months to three years, as ordered by the Commissioner. Self-incriminating testimony is required under an immunity provision. The State does not attempt to regulate rates for fire insurance, and companies may vary rates from board rates or between different applications for insurance. * ATTORNEY-The Insurance Commissioner must be empowered to accept service of legal process. In his absence, service may be made on any agent of the company. CANCELLATION OF POLICY-Sec. 1941-52, Statutes of 1898. "This policy shall be canceled at any time at the request of the insured, or by the company, by giving five days' notice of such cancellation, unless during a time in which the hazard shall be increased solely by the act of God, and in such case, and during such time of such increase of hazard, the company shall not cancel this policy, except upon sixty days' notice of such cancellation, without the consent of the assured. If this policy be canceled as hereinbefore provided, or become void or cease, the premium having been actually paid, the unearned portion shall be returned on surrender of this policy or last renewal, this company retaining the customary short rate; except that when this policy is canceled by this company, by giving notice it shall retain only the pro rata premium." Sec. 1946d, Statutes of 1898. "Any company, association or corporation transacting the business of insuring property against loss or damage from any cause shall, except as is otherwise provided by any provision applicable to any class of insurance companies, cancel any policy at any time, by request of the party insured, or his assignee, and return to said party the amount of premium paid, less the customary short-rate premium for the expired portion of the full term the policy has been issued." Mutual policies may be terminated on notice and payment of proportion of their existing claims. CAPITAL REQUIRED—Stock company must possess at least $100,000 of actual cash capital, and, upon beginning business, a surplus of at least 25 per cent of capital. Company writing both fire and marine insurance must have at least $150,000 capital. Mutual companies of other States must conform to the standard of solvency of Wisconsin companies. Lloyds must comply with the requirements of foreign companies. COMMISSIONS TO NON-RESIDENTS-Commissions must be received by resident agents and can only be divided between agents of the same company licensed in Wisconsin. An agent cannot receive a commission upon his own insurance unless in the preceding year he has written more premiums upon the property of others than upon his own. DEPOSIT-None required of American companies. If a foreign company does not have at least $200,000 invested in bonds of the United States or of the States of New York or Wisconsin, such bonds to produce at least the average current rate of interest on such securities or in bonds or mortgages on unincumbered real estate worth fifty per cent more than the amount loaned thereon, and deposited with the proper official of one of the United States, it must deposit $50,000 invested in securities listed above, except bonds of the State of New York, in Wisconsin. DOMESTIC COMPANIES—No new company, either stock or mutual, can be organized except under the general law, which follows: Section 1896. "Subject to the conditions and 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 86 of the statutes, except that such articles and amendments shall be filed in the office of the Commissioner of Insurance, and shall be submitted to and approved by the Attorney General before filing." Chapter 86 is the general law for the organization of corporations. The fee is $25 for a corporation with a capital stock of not over $25,000 and one dollar for each additional $1000 of capital stock. Fire companies may insure against loss or damage to property on land, by fire, lightning, hail, tempest or explosion. A company may be organized to write both fire and marine insurance. The limitation upon the term of duration of domestic corporations has been removed. Fire companies may write windstorm and sprinkler leakage risks and automobile insurance. EXAMINATIONS-Whenever it is deemed expedient by the Commissioner, or whenever written charges are made by a responsible person against a company, the Commissioner is empowered and instructed to make an ex amination into such company's affairs. He may also examine a company when he has information that it has violated the resident agents' law. Commissioner shall revoke license of company found to be in unsound condition. FEES-For filing first declaration or statement with certified copy of charter, $25; for filing annual statement, $25; for each certificate of authority issued to agent (one for each member of firm, and one for each company represented by an agent), $1; for copies of papers on file, 10 cents per folio; affixing seal, 50 cents; for service of process, $2; for examinations, actual expenses, and compensation to persons other than officers and employees of the State. Domestic mutual companies, except those organized prior to 1909 under Secs. 1896, 1897 and 1898, are exempt from the charter, annual statement and agency fees noted above. Each company guaranteeing a joint policy must pay full fees. Fees payable to Insurance Commissioner. Reciprocal provision. FIRE DEPARTMENT TAX-Sec. 1926. Amended Laws of 1913. * *** Every city or village or town containing an unincorporated village, having or maintaining a regularly organized fire department, as hereinafter provided, shall be entitled, for the support and maintenance of such fire department, * * to * two per centum upon the amount of all premiums which, during the year or part of a year ending on the next preceding first day of January, shall have been received by, * or shall have been agreed to be paid to any company or insurer, or agent thereof, for any insurance effected, or agreed to be effected, or promised by such company insurer or agent thereof * * * * against loss or injury by fire in any such city or village, or within a radius of one mile from the location of any fire department, in any town containing an unincorporated village; such dues to be payable as provided in Sec. 1926m. * * * "2. No city, village or town shall be entitled to such *** dues unless it shall have, support or maintain a fire department consisting, in case of a voluntary department, of at least one fire engine company with not less than ten active members, having at least one good fire engine and not less than five hundred feet of sound rubber, leather or other hose kept in an engine house fit and ready at all times for actual service, and at least one hook and ladder company, with not less than twelve active members, having a good hook and ladder truck, and each such company shall hold a meeting at least once a month, and in case of a paid or partly paid fire department, the buildings, machinery and materials hereinbefore enumerated and the necessary men, teams and equipments to constitute an active and properly equipped department, ready for service at all times. * * * "3. In case any city, village or town shall have and maintain a system of waterworks with sufficient pressure for fire purposes, with one or more hose companies of not less than ten active members, each having not less |