611.13 Organization permit and certificate of incorporation.

180 words·~1 min read·/wi/chapter-611/611-13-2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(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)Application for permit. The application for an organization permit shall be signed and acknowledged by or on behalf of each incorporator, and shall include or have attached:

(a)The names, and for the preceding 10 years all addresses and all occupations of all incorporators and proposed directors and officers;

(b)For all corporate incorporators, their articles and bylaws, a list of the names, addresses and occupations of all directors and principal officers, and for the 3 most recent years their annual financial statements and reports;

(c)The proposed articles which shall be signed and acknowledged by or on behalf of each incorporator, and the proposed bylaws;

(d)All agreements relating to the corporation to which any incorporator or proposed director or officer is a party;