Page:The Wisconsin idea (IA cu31924032449252).pdf/303

 Limiting the hours of labor of women to ten a day or fifty-five a week (chapter 548); and of children under 16 years of age to eight a day and forty-eight a week (chapter 479).

Among important insurance legislation enacted were bills curing the defect in the law relating to collecting the expenses of examinations so as to permit the department to make examinations as before; permitting a division of commissions between agents licensed to transact the same kind of insurance though but one is licensed for the company writing the insurance; authorizing the merger or consolidation of fire insurance corporations of this state under one or both of the old charters; authorizing the writing of surplus lines by licensed agents upon the granting of an additional license and the making of reports and payments of taxes secured by a bond; limiting investments in securities of any one corporation to 10 per cent of the admitted assets of the insurance company; providing that no insurance company may hold real estate except a home office building to a value not exceeding one-fifth of its admitted assets, and that other real estate acquired on mortgages must be disposed of within five years unless the time be extended by the commissioner; providing that town mutuals may write bars or outbuildings used in connection with detached dwellings in villages and cities, and not used for trade or manufacture; providing town mutuals may levy an assessment at any time for carrying on the business of the company; safeguarding the surplus of mutual companies by prohibiting the conversion of any mutual company into a stock company and further prohibiting the managing officers or other members from receiving in dividends or on dissolution of the company more than the premiums paid in with six per cent interest; amending the law to make clear the construction before