644.23 – Authority to issue mutual bonds and contribution notes.
644.23 Authority to issue mutual bonds and contribution notes. Section 611.33 (2) (a), (b), (c) and (e) applies to mutual holding companies. In the event of dissolution under this chapter, unpaid amounts of principal and interest on contribution notes shall be subordinated to the payment of principal and interest on any mutual bonds issued by […]
644.16 – Board of directors, committees and records.
644.16 Board of directors, committees and records. (1) Board of directors. Subject to this section, ss. 181.0801 (1) and (2), 181.0802, 181.0811, 611.51 (2), (3), (5) and (8) and 611.53 (1) and (3) apply to mutual holding companies. Section 181.0824 applies to the board of a mutual holding company except as modified by s. 611.10. […]
644.17 – Removal of officers.
644.17 Removal of officers. Sections 181.0843 and 181.0844 apply to mutual holding companies. History: 1997 a. 227; 1999 a. 30.
644.18 – Directors’ and officers’ liability and indemnification.
644.18 Directors’ and officers’ liability and indemnification. (1) Liability. Sections 181.0850 to 181.0855, except s. 181.0855 (2) (c), apply to mutual holding companies. (2) Indemnification. Sections 181.0871 to 181.0881 and 181.0889 apply to mutual holding companies. (3) Insurance. Section 181.0883 applies to mutual holding companies. (4) Derivative actions. Sections 181.0740 to 181.0747 apply to mutual […]
644.14 – Member rights.
644.14 Member rights. (1) Communication to members; member voting. Subject to this section, ss. 611.41, 611.42 (1), (1e), (1m), (2), (3), (4) (a) and (5), 611.43 and 611.53 (2) apply to mutual holding companies. (2) Notice of regular meetings and elections. Notice of the time and place of regular meetings or elections may be given […]
644.15 – Sale of voting stock; subscription rights; dividends.
644.15 Sale of voting stock; subscription rights; dividends. (1) (a) No solicitation for the initial sale to 3rd parties of the voting stock of the converted insurance company or any intermediate stock holding company may be made without the approval of the commissioner under s. 611.31 (2) and without the approval of the commissioner and […]
644.09 – Articles, amendments, bylaws and principal officers.
644.09 Articles, amendments, bylaws and principal officers. (1) Articles. Section 181.0202 applies to the articles of a mutual holding company, except that all of the following apply: (a) The name of the mutual holding company shall include the word “mutual” and shall comply with s. 181.0401 (2) to (4). (b) The articles shall include provisions […]
644.10 – Acquisition, merger or consolidation as part of the plan.
644.10 Acquisition, merger or consolidation as part of the plan. (1) The converting insurance company may propose to acquire, or to merge or consolidate with, one or more domestic or foreign insurers, or both, as part of a mutual holding company plan under s. 644.07. The commissioner shall approve the acquisition, merger or consolidation as […]
644.11 – Restructuring of domestic or foreign mutual with existing domestic mutual holding company.
644.11 Restructuring of domestic or foreign mutual with existing domestic mutual holding company. (1) Definition. In this section, “existing domestic mutual holding company” means a mutual holding company formed under this chapter. (2) Domestic mutual reorganization. (a) Merger with existing domestic mutual holding company. A domestic mutual insurance company organized under ch. 611 may restructure […]
644.12 – Transfers of a mutual holding company’s place of domicile to this state.
644.12 Transfers of a mutual holding company’s place of domicile to this state. (1) A mutual holding company that is domiciled in another state and that desires to become a domestic mutual holding company may submit to the commissioner an application for a certificate of incorporation. The application shall comply with rules promulgated under sub. […]