614.73 Merger and consolidation of fraternals. (1) Authorization, domestic fraternals. Any 2 or more domestic fraternals may merge or consolidate under the provisions of subs. (3) and (4). (2) Authorization, domestic and nondomestic fraternals. Any 2 or more domestic and nondomestic fraternals may merge or consolidate under the provisions of sub. (5). (3) Procedure for […]
614.74 Voluntary dissolution of solvent domestic fraternals. (1) Plan of dissolution. At least 60 days prior to the submission to the supreme governing body or the members of any proposed voluntary dissolution, the proposal shall be filed with the commissioner. The commissioner may require the submission of additional information necessary to establish the financial condition […]
614.76 Voluntary conversion of fraternals to mutuals. A domestic fraternal may be converted into a mutual, as follows: (1) Action by board or supreme governing body. The board or the supreme governing body shall adopt a plan of conversion stating: (a) The reasons for and the purposes of the proposed action; (b) The proposed terms, […]
614.77 Rehabilitation or involuntary conversion. If the commissioner believes that a fraternal does not satisfy the requirements of this chapter, the commissioner shall call a hearing and upon a finding that the fraternal does not satisfy the requirements, the commissioner shall petition for rehabilitation under s. 645.31, for the purpose of rehabilitating the fraternal or, […]
614.78 Maintenance of solvency. (1) Order declaring hazardous condition. When a domestic fraternal has an authorized control level event, as defined by the commissioner by rule, under circumstances the commissioner determines will not be promptly remedied, the commissioner, in addition to taking any other action required or allowed by law, may issue an order declaring […]
614.79 Rehabilitation and liquidation. (1) Grounds for rehabilitation or liquidation. In addition to the grounds for rehabilitation under s. 645.31 and the grounds for liquidation under s. 645.41, any of the following is grounds for rehabilitation under s. 645.31 or liquidation under s. 645.41: (a) Failure by a domestic fraternal to comply with an order […]
