614.76 Voluntary conversion of fraternals to mutuals.
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/wi/chapter-614/614-76-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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, conditions and procedures and the estimated expenses of implementing the conversion;
(c)The proposed name of the corporation; and
(d)The proposed articles and bylaws.
(2)Disagreement. If the board and the supreme governing body disagree on the conversion plan, the decision of the latter shall govern.