Wis. Stat. § 613.75

Conversion of a service insurance corporation into a stock or mutual insurance corporation

Applied in 1 court decision — leading case ABC for Health, Inc. v. Commissioner of Insurance (2001)

Most recently applied in ABC for Health, Inc. v. Commissioner of Insurance (December 2001)

1975 c. 223; 1979 c. 102.

(1) AUTHORIZATION. Any service insurance corporation may be converted into a stock insurance corporation under ch. 611 upon complying with sub.

(2) and as much of s. 611.76 as is applicable, or into a mutual under ch. 611 upon complying with sub.

(2) and s. 611.75.

(2) APPROVAL BY PERSONS ENTITLED TO VOTE. The commissioner shall not issue an organization permit under s. 611.13 (3) or a certificate of authority under s. 611.22 (3) unless the conversion has been approved by a mail vote of at least two-thirds of those voting, including an affirmative vote of at least half of the members, or by a vote of at least two-thirds of the members present or represented by proxy at a special meeting called for that purpose.

Official source: Wisconsin State Legislature. Reproduced from public-domain Wisconsin statutes; confirm against the official source for the current text. Not legal advice.