reglab/housing_qa huggingface dataset:
WI Stat § 613.19 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.19 - Financial and contractual resources.

613.19  Financial and contractual resources. (1) Minimum permanent surplus. The commissioner may by rule establish the minimum permanent surplus for a corporation organized under this chapter. In the absence of such a rule, the minimum permanent surplus shall be $2,000,000 or such greater amount as the commissioner specifies by order. (2)  Initial expendable surplus. A corporation organized under this chapter shall have an initial expendable surplus, after payment of all organizational expenses, of at least 50 percent of the minimum permanent surplus specified under sub. (1), or such other percentage as the commissioner specifies by order. (3)  Providers' contracts. A service insurance corporation may make contracts with its members and other persons for the provision of services to policyholders in order to ensure performance of the insurance contracts to be issued. The selection of members and other providers with whom such contracts are made and the terms of the contracts, together with the surplus provided under subs. (1), (2) and (5), shall reflect the benefits and other terms provided in the insurance contracts and the number and distribution of existing and expected policyholders in such a way that it is reasonably to be expected that services will be provided as promised. (4)  Assessments against policyholders. There may not be any assessments against policyholders. (5)  Reduction of minimum surplus. The commissioner may by order reduce the minimum amounts of surplus required under subs. (1) and (2) if in the commissioner's opinion the extent and nature of providers' contracts under sub. (3), financial guarantees and other support by financially sound private or public corporations, a pressing social need in a particular community for the formation of a service insurance corporation, or other special circumstances, justify the proposed reduction in the required surplus. A person who will directly compete with the proposed insurer is aggrieved within the meaning of s. 601.62 (3) (a). (5m)  Capital requirements rule. Notwithstanding subs. (1), (2) and (5), the commissioner shall promulgate a rule that establishes for a corporation that is organized under this chapter and that is not a health maintenance organization insurer the same compulsory and security surplus requirements that apply to a corporation that is organized under ch. 611, subject to ch. 646 and authorized to write the same line of business as a corporation that is organized under this chapter and that is not a health maintenance organization insurer. (6)  Health maintenance organization insurer. This section does not apply to a health maintenance organization insurer that is subject to s. 609.96.History:  1975 c. 223, 421; 1979 c. 261; 1985 a. 335; 1989 a. 23; 1995 a. 236.
WI Stat § 613.20 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.20 - Alteration of certificate of authority.

613.20  Alteration of certificate of authority. (1) Upon application. A service insurance corporation may at any time apply to the commissioner for a new or amended certificate of authority, removing, altering or adding limits on its business or methods of operation. The application shall contain or be accompanied by so much of the information in s. 613.13 (1) as the commissioner requires. The commissioner shall issue the new certificate as requested if the commissioner finds that the:(a) Corporation's surplus and providers' contracts are adequate to support the proposed operations under the new certificate; and(b) Proposed business would not be contrary to the law or to the interests of insureds or the public. (2)  By commissioner. If the commissioner issues a summary order under s. 645.21 against a corporation, the commissioner may also revoke the corporation's certificate and issue a new one with such limits as deemed necessary.History:  1975 c. 223, 421.
WI Stat § 613.24 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.24 - Segregated asset and special accounts.

613.24  Segregated asset and special accounts. Service insurance corporations are subject to ss. 611.24 and 611.25.History:  1975 c. 223.
WI Stat § 613.26 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.26 - Subsidiaries.

613.26  Subsidiaries. Service insurance corporations may act under s. 611.26.History:  1975 c. 223.
WI Stat § 613.28 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.28 - Changes in business plan.

613.28  Changes in business plan. Service insurance corporations are subject to s. 611.28.History:  1975 c. 223.
WI Stat § 613.29 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.29 - Amendment of articles.

613.29  Amendment of articles. (1) Right to amend articles. A service insurance corporation may amend its articles under ss. 181.1001 to 181.1007 in any desired respect including substantial changes of its original purposes not inconsistent with this chapter. No amendment may be made contrary to s. 613.12. (2)  Filing. For 5 years after the initial issuance of a certificate of authority, proposed amendments of the articles which are not changes in the business plan shall be filed with the commissioner at least 30 days before the amendment is submitted to the members for approval, or if such approval is not required, at least 30 days before the effective date. No amendment may become effective until the articles of amendment have been filed with the commissioner. (3)  Effect of amendment. Section 181.1008 applies to service insurance corporations.History:  1975 c. 223; 1997 a. 79.
WI Stat § 613.31 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.31 - Securities regulation.

613.31  Securities regulation. (1) Registration. No securities issued by a service insurance corporation may be sold by or for the corporation unless they are registered or exempt from registration under ch. 551. (2)  Approval by commissioner. Securities of a service insurance corporation may not be registered under ch. 551 without prior approval of the commissioner of insurance.History:  1975 c. 223.
WI Stat § 613.33 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.33 - Authorized securities.

613.33  Authorized securities. (1) Service insurance corporation bonds. The articles of a service insurance corporation may authorize service insurance corporation bonds of one or more classes and shall specify the amount of each class of bonds the corporation is authorized to issue, their designations, preferences, limitations, rates of interest and relative rights, subject to the following provisions:(a) During the first year after the initial issuance of a certificate of authority, the corporation may issue only a single class of bonds with identical rights.(b) After the first year but within 5 years after the initial issuance of a certificate of authority, additional classes of bonds may be authorized after approval of the commissioner, who shall approve on a finding that policyholders and prior bondholders will not be prejudiced.(c) The rate of interest shall be fair and reasonable.(d) The bonds shall bear a maturity date not later than 10 years from the date of issuance, when principal and accrued interest shall be due and payable, subject to sub. (4). (2)  Contribution notes. Any service insurance corporation may issue contribution notes if the commissioner approves. The commissioner may approve only on a finding that:(a) The notes will not be issued in denominations of less than $500, and no single issue will be sold to more than 15 persons;(b) No discount, commission or other fee will be paid or allowed;(c) The notes will not be the subject of a public offering;(d) Their terms are not prejudicial to policyholders, holders of service insurance corporation bonds or of prior contribution notes; and(e) The corporation's articles and bylaws do not forbid their issuance. (3)  Prohibited transactions. No service insurance corporation may:(a) If it has any outstanding obligations on service insurance corporation bonds or contribution notes, borrow on contribution notes from, or sell bonds to, any other insurer without approval of the commissioner; or(b) Make any loan to another insurer except a fully secured loan at usual market rates of interest. (4)  Repayment. Payment of the principal or interest on service insurance corporation bonds or contribution notes may be made in whole or in part only after approval by the commissioner. Approval shall be given if all financial requirements of the issuer to do the insurance business it is then doing will continue to be satisfied after payment and if the interests of its insureds and the public are not thereby endangered. In the event of liquidation under ch. 645, unpaid amounts of principal and interest on contribution notes shall be subordinated to the payment of principal and interest on any service insurance corporation bonds issued by the corporation at any time. (5)  Other obligations. Nothing in this section prevents a service insurance corporation from borrowing money on notes which are its general obligations, nor from pledging any part of its disposable assets therefor.History:  1975 c. 223, 421; 1979 c. 102.
WI Stat § 613.40 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.40 - Members and meetings.

613.40  Members and meetings. In a service insurance corporation that has members: (1)  Meetings of members. Sections 181.0160, 181.0701, 181.0702 and 181.0705 apply to service insurance corporations. (2)  Voting and quorum. Sections 181.0721, 181.0723 and 181.0724 apply to service insurance corporations and s. 181.0722 applies to service insurance corporations except as modified by ss. 613.72 (4) and 613.75 (2). (3)  Delegates. Section 181.0640 applies to service insurance corporations.History:  1975 c. 223; 1997 a. 79.
WI Stat § 613.41 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.41 - Communications to members or policyholders and attendance at meetings.

613.41  Communications to members or policyholders and attendance at meetings. (1) Copies of communications. The commissioner may by rule prescribe that copies of specified classes of communications circulated generally by a corporation to members or policyholders shall be communicated to the commissioner at the same time. (2)  Attendance at meetings. The commissioner may attend any members' or policyholders' meeting.History:  1975 c. 223, 421.
WI Stat § 613.51 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.51 - Board of directors.

613.51  Board of directors. (1) General. The affairs of a corporation shall be managed by a board of directors. Directors need not be residents of this state or members of the corporation unless the articles of incorporation or bylaws so require. The articles of incorporation or bylaws may prescribe other qualifications for directors. (2)  Number, selection and classification of directors. Section 611.51 (2) and the first sentence of s. 611.51 (5) apply to service insurance corporations. Sections 181.0803 to 181.0811 apply to service insurance corporations except as modified by ss. 613.53 and 613.54. (3)  Inside directors. Employees and representatives of a service insurance corporation may not constitute a majority of its board. (4)  Unlawful delegation. The board shall manage the business and affairs of the corporation and may not delegate its power or responsibility to do so, except to the extent authorized by ss. 181.0841 and 613.56. (5)  Quorum and voting. Section 181.0824 applies to service insurance corporations, except as modified by s. 613.60. (6)  Books and records. Sections 181.1601 to 181.1605 apply to service insurance corporations. (7)  Place and notice of directors' meetings. Sections 181.0820, 181.0822 and 181.0823 apply to service insurance corporations.History:  1975 c. 223; 1997 a. 79.
WI Stat § 613.52 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.52 - Officers.

613.52  Officers. (1) General. Sections 181.0840 and 181.0841 apply to service insurance corporations, as modified by s. 613.12 (3). (2)  Removal. Sections 181.0843 and 181.0844 apply to service insurance corporations.History:  1975 c. 223; 1997 a. 79.
WI Stat § 613.53 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.53 - Policyholder or public members of board of directors.

613.53  Policyholder or public members of board of directors. The articles may provide that any number of the directors shall be chosen from among the policyholders, the general public or both, under a plan designed to assure independent directors truly representing the interests of policyholders or the public interest. The persons to be named as directors under this section shall be persons whose experience and existing relationships qualify them to serve responsibly and impartially as independent policyholder or public directors.History:  1975 c. 223.
WI Stat § 613.54 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.54 - Supervision of management changes.

613.54  Supervision of management changes. Section 611.54 applies to service insurance corporations.History:  1975 c. 223.
WI Stat § 613.55 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.55 - Continuity of management in emergencies.

613.55  Continuity of management in emergencies. Section 611.55 applies to service insurance corporations.History:  1975 c. 223.
WI Stat § 613.57 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.57 - Interlocking directorates and other relationships.

613.57  Interlocking directorates and other relationships. Section 611.57 applies to service insurance corporations.History:  1975 c. 223.
WI Stat § 613.58 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.58 - Policyholders' committee.

613.58  Policyholders' committee. A service insurance corporation's articles or bylaws may provide for a policyholders' committee, to be selected in a manner that will make its membership representative of the interests of policyholders. The policyholders' committee shall at the corporation's expense prepare an annual report to be filed with the commissioner. The corporation shall inform all policyholders of the availability of the report in a manner approved by the commissioner and shall send copies of the report to policyholders upon their request. A summary of the report prepared or approved by the committee and not exceeding 2,000 words shall be included with any annual report issued by the corporation to members or policyholders.History:  1975 c. 223.
WI Stat § 613.60 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.60 - Transactions with affiliates in which directors and others are interested.

613.60  Transactions with affiliates in which directors and others are interested. Sections 611.60 and 611.61 apply to service insurance corporations.History:  1975 c. 223; 1979 c. 102.
WI Stat § 613.62 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.62 - Directors' and officers' liability and indemnification.

613.62  Directors' and officers' liability and indemnification. (1) Liability. Sections 181.0833 and 181.0850 to 181.0855 apply to service insurance corporations. (2)  Indemnification. Sections 181.0871 to 181.0881 apply to service insurance corporations but no indemnification may be made until at least 30 days after notice to the commissioner, containing full details about the proposed indemnification. (3)  Insurance. Section 181.0883 applies to service insurance corporations.History:  1975 c. 223, 421; 1987 a. 13; 1997 a. 79.
WI Stat § 613.63 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.63 - Executive compensation.

613.63  Executive compensation. (1) Establishment of compensation. Section 181.0302 (11) to (14) applies to service insurance corporations, except as modified by ss. 613.60 and sub. (2). (2)  Restrictions. Subchapter XIII of ch. 181 and s. 611.63 (3) to (6) apply to service insurance corporations.History:  1975 c. 223; 1979 c. 102 s. 237; 1997 a. 79.
WI Stat § 613.66 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.66 - Exclusive agency contracts.

613.66  Exclusive agency contracts. (1) General. Except under sub. (2), no service insurance corporation may enter into any contract whereby any person is granted the exclusive right or privilege of soliciting, producing or receiving a fee or commission on all or substantially all of the insurance business of the corporation in this state. (2)  Subsidiaries. Subsection (1) does not apply to contracts in which a corporation is the exclusive agent of its insurance subsidiary authorized under s. 611.26 (1) as applied to service insurance corporations by s. 613.26, or in which the subsidiary is the exclusive agent of the corporation.History:  1975 c. 223.
WI Stat § 613.67 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.67 - Management contracts.

613.67  Management contracts. Section 611.67 applies to service insurance corporations.History:  1975 c. 223.
WI Stat § 613.69 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.69 - Distributions.

613.69  Distributions. (1) General. Subchapter XIII of ch. 181 applies to service insurance corporations. (2)  Notice to commissioner. No payments, other than the contractual compensation for services rendered to policyholders or payments to policyholders, officers and employees in the ordinary course of business, may be made to the members until 30 days after the proposed action has been reported to the commissioner.History:  1975 c. 223; 1997 a. 79.
WI Stat § 613.72 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.72 - Merger of service insurance corporations.

613.72  Merger of service insurance corporations. (1) Authorization. Any 2 or more domestic service insurance corporations may merge, if they provide services of the same or a related nature, or if the services complement one another or there are other reasons that make it reasonable for a single corporation to render both. A written plan of merger shall be prepared, setting forth all the terms of the proposed merger and its effect on policyholders and members of both corporations. The plan shall also contain the articles and bylaws of the proposed new corporation. (2)  Commissioner's approval required. No proposed merger plan under this section may be submitted to the members until the commissioner approves it. (3)  Grounds for disapproval. The commissioner shall approve the plan unless the commissioner finds, after a hearing, that it is contrary to the law or to the interests of insureds or of the public of this state. (4)  Members' approval required. The plan must be approved separately by two-thirds of the votes cast by the members of each corporation included in the plan. (5)  Application of ch. 181. Except as otherwise provided in this section, ss. 181.1101 to 181.1108 apply to service insurance corporations.History:  1975 c. 223, 421; 1979 c. 102; 1997 a. 79.
WI Stat § 613.74 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.74 - Voluntary dissolution of solvent service insurance corporations.

613.74  Voluntary dissolution of solvent service insurance corporations. (1) General. Sections 181.1401 to 181.1407 apply to service insurance corporations, except as provided in subs. (2) to (4). (2)  Plan of dissolution. At least 60 days prior to the submission to a vote of the members of any proposed voluntary dissolution of a service insurance corporation under s. 181.1401, the plan shall be filed with the commissioner. The commissioner may require the submission of such additional information as will establish the financial condition of the corporation or other facts relevant to the proposed dissolution. If the members adopt the resolution to dissolve, the commissioner shall, within 30 days after the adoption of the resolution, begin to examine the corporation. The commissioner shall approve the dissolution unless the commissioner finds, after a hearing, that it is insolvent or may become insolvent in the process of dissolution. Upon approval, the corporation may dissolve under ss. 181.1401 to 181.1407. Upon disapproval, the commissioner shall petition the court for liquidation or for rehabilitation under ch. 645. (3)  Conversion to involuntary liquidation. The corporation may at any time during the liquidation under ss. 181.1401 to 181.1407 apply to the commissioner to have the liquidation continued under the commissioner's supervision; thereupon the commissioner shall apply to the court for liquidation under s. 645.41 (10). (4)  Revocation of voluntary dissolution. If the corporation revokes the voluntary dissolution proceedings under s. 181.1404, a copy of the revocation of voluntary dissolution proceedings shall be filed with the commissioner.History:  1975 c. 223, 421; 1995 a. 417; 1997 a. 79.
WI Stat § 613.75 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.75 - Conversion of a service insurance corporation into a stock or mutual insurance corporation.

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.History:  1975 c. 223; 1979 c. 102.
WI Stat § 613.78 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 613 - Service insurance corporations.|613.78 - Transfer of business or assets.

613.78  Transfer of business or assets. (1) General. Sections 181.1201 and 181.1202 apply to service insurance corporations except as modified by subs. (2) and (3). (2)  Report to commissioner. Any action by which a service insurance corporation proposes to transfer to another person or to reinsure any part of its insurance business, other than in the normal and usual course of business, or to sell, lease, exchange, mortgage, pledge or otherwise dispose of or encumber more than 25 percent of its assets, shall be reported to the commissioner not less than 30 days in advance of the proposed effective date. The commissioner may defer the effective date for an additional period not exceeding 30 days by written notice to the corporation before expiration of the initial 30-day period. (3)  Disapproval. The commissioner may, within the 30-day period or its extension under sub. (2), prohibit the proposed action if it is contrary to law, the interests of insureds or the public or if it will make possible the circumvention of any of the requirements of ss. 613.72 to 613.75.History:  1975 c. 223; 1997 a. 79.