616.74 Manner of obtaining company license; fee.

186 words·~1 min read·/wi/chapter-616/616-74

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

(1)No certificate of authority shall be issued by the commissioner until the company has filed with the commissioner the following:

(a)A formal application in such form and detail as the commissioner may require, executed under oath by its president or other principal officer;

(b)A certified copy of its charter or articles of incorporation and its bylaws, if any;

(c)A certificate from the department of financial institutions, if it is a nonprofit corporation, that it has complied with the corporation laws of this state; if it is a corporation the stock of which has been or is being sold to the general public, a certificate from the division of securities that it has complied with the requirements of the securities law of this state.

(2)No certificate of authority shall be issued by the commissioner until the company has paid to the commissioner the fee required by s. 601.31

(b).

(3)Every certificate of authority issued hereunder shall expire annually on July 1, of each year, unless sooner revoked or suspended, as hereinafter provided.