611.71 Acquisition of all of the shares or of a class of shares of an insurance corporation.
122 words·~1 min read·
/wi/chapter-611/611-71-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
611.71 Acquisition of all of the shares or of a class of shares of an insurance corporation.
(1)Exchange of shares permitted. A domestic stock insurance corporation may acquire, in the manner provided by this section, in exchange for its shares, all the shares, or all the shares of any class, of any other domestic stock insurance corporation, provided no law is violated by the acquisition.
(2)Offer. The acquiring corporation shall submit by 1st class mail to all holders of the shares to be acquired a written offer which shall:
(a)Specify the shares to which the offer relates;
(b)Prescribe the terms and conditions of the proposed exchange, including the method of acceptance and the manner of exchanging the shares;