611.29 – Amendment of articles.
611.29 Amendment of articles. (1) Right to amend articles. A stock corporation may amend its articles under ss. 180.0726, 180.1001 to 180.1007, 180.1706, 180.1707 and 180.1708 (4) and a mutual may amend its articles under ss. 181.1001, 181.1002 (1), 181.1003, 181.1005 and 181.1006, except that papers required by those sections to be filed with the […]
611.20 – Certificate of authority.
611.20 Certificate of authority. (1) Application. The corporation may apply for a certificate of authority at any time prior to the expiration of its organization permit. The application shall include a statement by a principal officer of any material changes that have already taken place or are likely to take place in the facts on […]
611.22 – Accelerated organization procedure.
611.22 Accelerated organization procedure. (1) General requirements. The incorporators may apply for determination of the minimum capital or minimum permanent surplus under s. 611.19 and for a certificate of authority without first obtaining an organization permit if: (a) Their number is not more than 15; and (b) They purchase for their own accounts all the […]
611.223 – Transfer of an insurer’s place of domicile.
611.223 Transfer of an insurer’s place of domicile. (1) Foreign insurer becomes a domestic insurer. (a) A foreign insurer which desires to become a domestic insurer may submit to the commissioner an application for a certificate of incorporation and a certificate of authority. The application shall comply with par. (b) and shall include or have […]
611.23 – Municipal insurance mutuals.
611.23 Municipal insurance mutuals. (1) Applicable rules. On application by the organizers of a municipal insurance mutual under s. 611.11 (4), the commissioner may by order, after a hearing, relax any requirements of this chapter to facilitate the formation, financing and governance of the mutual. In the same order, the commissioner shall impose substitute requirements […]
611.19 – Initial capital and surplus requirements.
611.19 Initial capital and surplus requirements. (1) Minimum capital and permanent surplus. The commissioner may by rule establish the minimum capital for a stock corporation or the minimum permanent surplus for a nonassessable mutual organized under this chapter. In the absence of such a rule, the minimum capital or minimum permanent surplus shall be $2,000,000 […]
611.13 – Organization permit and certificate of incorporation.
611.13 Organization permit and certificate of incorporation. (1) Permit required. No person may, in the case of a stock corporation, solicit subscriptions for its securities, or in the case of a mutual, solicit applications for qualifying insurance policies or subscriptions for mutual bonds or contribution notes, until the commissioner has issued an organization permit. (2) […]
611.14 – Powers under organization permit.
611.14 Powers under organization permit. (1) Stock corporations. While its organization permit is in effect a stock corporation may: (a) Register stock under s. 611.31, solicit subscriptions subject to s. 180.0620 (1) (a) and receive payment therefor in cash or, with the approval of the commissioner, in other property constituting a permitted investment under ch. […]
611.15 – Deposit of proceeds of subscriptions.
611.15 Deposit of proceeds of subscriptions. All funds, and the securities and documents representing interests in property, received by a stock corporation for stock subscriptions or by a mutual for applications for insurance policies or for mutual bond or contribution note subscriptions shall be deposited in the name of the corporation with a depository approved […]
611.16 – Termination of organization permit and payment of organization expenses.
611.16 Termination of organization permit and payment of organization expenses. (1) Termination. The organization permit shall terminate upon: (a) Issuance of a certificate of authority under s. 611.20; (b) Revocation under sub. (2); or (c) Expiration of one year after issuance unless a good faith application for a certificate of authority has been filed with […]