613.75 Conversion of a service insurance corporation into a stock or mutual insurance corporation.
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/wi/chapter-613/613-75-7A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
613.75 Conversion of a service insurance corporation into a stock or mutual insurance corporation.
(1)Authorization. Any service insurance corporation may be converted into a stock insurance corporation under ch. 611 upon complying with sub.
(2)and as much of s. 611.76 as is applicable, or into a mutual under ch. 611 upon complying with sub.
(2)and s. 611.75 .
(2)Approval by persons entitled to vote. The commissioner shall not issue an organization permit under s. 611.13
(3)or a certificate of authority under s. 611.22
(3)unless the conversion has been approved by a mail vote of at least two-thirds of those voting, including an affirmative vote of at least half of the members, or by a vote of at least two-thirds of the members present or represented by proxy at a special meeting called for that purpose.