reglab/housing_qa huggingface dataset:
WI Stat § 611.74 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 611 - Domestic stock and mutual insurance corporations.|611.74 - Voluntary dissolution of domestic insurance corporations.

611.74  Voluntary dissolution of domestic insurance corporations. (1) Plan of dissolution. At least 60 days prior to the submission to shareholders or policyholders of any proposed voluntary dissolution of an insurance corporation under s. 180.1402 or 181.1401 the plan shall be filed with the commissioner. The commissioner may require the submission of additional information to establish the financial condition of the corporation or other facts relevant to the proposed dissolution. If the shareholders or policyholders 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, after a hearing, the commissioner finds that it is insolvent or may become insolvent in the process of dissolution. Subject to chs. 600 to 645, upon approval, the corporation may dissolve under ss. 180.1402 to 180.1408 and 180.1706, or ss. 181.1401 to 181.1407, except that papers required by those sections to be filed with the department of financial institutions shall instead be filed with the commissioner. Upon disapproval, the commissioner shall petition the court for liquidation or for rehabilitation under ch. 645. (2)  Conversion to involuntary liquidation. The corporation may at any time during the liquidation under ss. 180.1402 to 180.1408 or 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). (3)  Revocation of voluntary dissolution. If the corporation revokes the voluntary dissolution proceedings under ss. 180.1404 and 180.1706 or under s. 181.1404, a copy of the articles of revocation of dissolution prepared under s. 180.1404 or 181.1404 shall be filed with the commissioner. (4)  Distribution of assets of a mutual. No distribution may be made to policyholders in excess of the amounts to which they are entitled under s. 645.72 (4). Any excess over such amounts shall be paid into the state treasury to the credit of the common school fund.History:  1971 c. 260; 1973 c. 184; 1977 c. 203; 1979 c. 102; 1979 c. 109 s. 16; 1989 a. 303; 1991 a. 32; 1995 a. 27; 1997 a. 79.
WI Stat § 611.77 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 611 - Domestic stock and mutual insurance corporations.|611.77 - Conversion of assessable to nonassessable and nonassessable to assessable mutuals.

611.77  Conversion of assessable to nonassessable and nonassessable to assessable mutuals. (1) Assessable to nonassessable. Whenever an assessable mutual accumulates enough surplus to satisfy the financial requirements for the operation of a nonassessable mutual under like conditions, it may apply for a certificate of authority authorizing it to sell nonassessable policies. The commissioner shall issue a certificate of authority designating it a nonassessable mutual if he or she finds that the applicant satisfies the requirements of the law and that the issuance of nonassessable policies will not endanger the interests of its insureds or the public. Policies issued thereafter shall be nonassessable; existing policies shall continue in effect and shall also become nonassessable. (2)  Nonassessable to assessable. A nonassessable mutual may apply to the commissioner for a certificate of authority designating it an assessable mutual. The commissioner shall issue the certificate if the law permits such a corporation to issue assessable policies and if he or she finds that the conversion will not endanger the interests of present or future insureds or of the public. All policies issued after conversion shall be assessable, and all policies in effect on the date of conversion shall be assessable except to the extent that there is a contract right then existing not to be assessed.History:  1971 c. 260; 1979 c. 102 s. 236 (5).
WI Stat § 611.785 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 611 - Domestic stock and mutual insurance corporations.|611.785 - Dissenters' rights.

611.785  Dissenters' rights. Sections 180.1301 to 180.1331 apply to stock corporations, except as provided in s. 611.71 (5) (b) with respect to a shareholder's right to dissent from a share exchange consummated under s. 611.71.History:  1989 a. 303.
WI Stat § 611.79 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 611 - Domestic stock and mutual insurance corporations.|611.79 - Conversion of a domestic mutual life insurance company into a fraternal.

611.79  Conversion of a domestic mutual life insurance company into a fraternal. A domestic mutual life insurance company may be converted into a fraternal under ch. 614, as follows: (1)  Conversion plan. The board of directors of the company shall adopt a plan of conversion stating:(a) The reasons for and the purposes of the proposed action;(b) The proposed articles and bylaws for the new fraternal; and(c) The proposed procedure and estimated expenses for implementing the conversion. (2)  Approval by commissioner. The plan shall be filed with the commissioner for approval, together with so much of the information under s. 614.13 (2) as the commissioner reasonably requires. The commissioner shall approve the plan unless finding, after a hearing, that it would be contrary to the law, that the new fraternal would not satisfy the requirements for a certificate of authority under s. 611.20 as incorporated by s. 614.20, or that the plan would be contrary to the interests of policyholders or the public. (3)  Approval by members. After being approved by the commissioner, the plan shall be submitted to the policyholders for their approval. (4)  Report to commissioner. A copy of the resolution adopted by the members shall be filed with the commissioner, indicating the number of policyholders voting, the method of voting and the number of votes cast in favor of the plan. (5)  Certificate of authority. If all requirements of the law are met, the commissioner shall issue a certificate of authority for the new fraternal. Thereupon the mutual shall cease its legal existence and the corporate existence of the new fraternal shall begin, but it shall be deemed to have been incorporated as of the date the converted mutual was incorporated. The new fraternal shall have all the assets and be liable for all of the obligations of the converted mutual. The commissioner may grant a period not exceeding one year for adjustment to the requirements of ch. 614, specifying the extent to which particular provisions of ch. 614 do not apply.History:  1975 c. 373, 421.Legislative Council Note, 1975: This provision is not likely to be used often but it is desirable in order to enlarge the options open to legitimate organizations. If members of a mutual wish to accept the additional restrictions imposed by fraternal law in return for its benefits, they should be free to do so. [Bill 643-S]
WI Stat § 611.94 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 611 - Domestic stock and mutual insurance corporations.|611.94 - Trustee of proceeds.

611.94  Trustee of proceeds. Section 632.42 applies to insurers doing a life insurance business.History:  1979 c. 102.
WI Stat § 612.01 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 612 - Town mutuals.|612.01 - Purposes, scope, interpretation and definitions.

612.01  Purposes, scope, interpretation and definitions. (1) Purposes. The purposes of this chapter are:(a) To preserve and encourage cooperative low-cost insurance;(b) To establish a framework in which mutuality in its true sense can be preserved, and small mutual corporations can be kept viable;(c) To preserve and strengthen the interest of the members in and their control of town mutuals;(d) To enable town mutuals to satisfy as many of the essential insurance needs of their members as is consistent with the other objectives of chs. 600 to 646; and(e) To provide financial guaranties sufficient to ensure the solidity of town mutuals, and to encourage them to maintain adequate surpluses. (2)  Scope. Except as otherwise provided, this chapter applies to all corporations organized under this chapter. (3)  Interpretation. Whenever a section of ch. 611 is applied to town mutuals by this chapter, the portion to be applied is that portion applicable to a mutual under ch. 611. (4)  Applicable definitions. The definitions in ss. 181.0103 (3) and (18), 600.03 and 610.01 (1), (2) and (4) apply to town mutuals.History:  1973 c. 22; 1977 c. 339; 1979 c. 89, 102, 177; 1983 a. 189 s. 329 (22); 1983 a. 215; 1985 a. 189; 1997 a. 79.
WI Stat § 612.03 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 612 - Town mutuals.|612.03 - General powers and effect of unauthorized corporate acts.

612.03  General powers and effect of unauthorized corporate acts. Sections 181.0302 (intro.), (1) to (8), (11) to (13), (18) and (19) and 181.0304 apply to town mutuals, except that references to “attorney general" shall be read as “commissioner". Section 181.0302 (7) is subject to s. 612.35.History:  1973 c. 22; 1979 c. 110; 1983 a. 192; 1987 a. 13; 1997 a. 79.
WI Stat § 612.04 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 612 - Town mutuals.|612.04 - Amendments of articles, bylaws and business plan.

612.04  Amendments of articles, bylaws and business plan. (1) Right to amend articles and make and amend bylaws. Sections 181.0207 and 181.1001 apply to town mutuals. A town mutual may make and amend bylaws as provided by the articles or, in the absence of any such provision, in the same manner as the articles may be made or amended. (2)  Approval required. No change in the articles or bylaws or in the business plan is effective until approved by the commissioner, nor may a town mutual depart from its business plan except with the commissioner's approval. No change may be made inconsistent with s. 612.02 (2). Section 181.1008 applies to town mutuals. (3)  Grounds for disapproval. The commissioner shall approve the change unless he or she finds, after a hearing, that it would be:(a) Contrary to law; or(b) Inconsistent with the interests of the members or of the public.History:  1973 c. 22; 1977 c. 203; 1979 c. 102 ss. 115, 236 (5); 1997 a. 79.
WI Stat § 612.10 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 612 - Town mutuals.|612.10 - Membership.

612.10  Membership. (1) Creation and duration of membership. Each policyholder is a member of the town mutual and has all the rights and duties of a member during the time his or her policy is in effect. The articles or bylaws may establish rules determining which of multiple policyholders on the same policy shall exercise voting rights or how such multiple policyholders may divide voting rights among them. (2)  Mortgagee not a member. A person having rights merely by reason of a mortgagee clause included in or attached to a policy does not thereby become a member.History:  1973 c. 22; 1979 c. 102 s. 236 (13).
WI Stat § 612.11 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 612 - Town mutuals.|612.11 - Meetings of members.

612.11  Meetings of members. (1) Place of meetings. All meetings of members shall be held within the territorial limits of the town mutual, except under s. 612.21 (4). (2)  Notice of meeting. (a)  Annual meeting. Notice of the time and place of the annual meeting shall be given to each member by printing it conspicuously on each policy or in any other reasonable manner that the commissioner approves. A change in time or place may be made by the board of directors by giving notice at least 10 days prior to the original date and 30 days prior to the new date.(b)  Special meetings. Notice of special meetings shall be given to members at least 30 days prior to the date of the meeting, and shall state the proposed business to be brought before the meeting. (3)  Commissioner's right to attend. The commissioner may attend any meeting of members.History:  1973 c. 22; 1997 a. 79.
WI Stat § 612.12 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 612 - Town mutuals.|612.12 - Voting rights of members.

612.12  Voting rights of members. (1) Matters subject to vote. Members of town mutuals shall have the right to vote on the following matters:(a) Election of directors;(b) Amendment of articles;(c) Merger, transfer of business under s. 612.24, conversion and voluntary dissolution;(d) Any decision by the town mutual to transact insurance for which reinsurance is required under s. 612.33 (2), unless such insurance is totally reinsured; and(e) Other matters specified in the articles or bylaws. (2)  Special notices and majorities. No resolution on any of the matters specified in sub. (1) (c) or (d) is effective unless notice of the matter has been given as required for a special meeting under s. 612.11 (2) (b); nor unless it is approved by at least 25 members and by two-thirds of the members voting on the resolution. (3)  Nominating procedures. The articles or bylaws may provide for nominating committees, and for their procedures. Nominations from the floor may not be excluded. (4)  Voting procedures. (a)  Allocation of votes. Except under s. 612.10 (1), each member is entitled to one vote. No person may have more than one vote regardless of the number of policies issued to that person.(b)  Proxies. No member may vote by proxy.(c)  Mail voting. The articles or bylaws may provide that votes may be cast by mail, and may prescribe the voting procedure. If voting by mail is authorized, a ballot shall be sent to each member at least 30 days before the meeting at which the decision is to be made, setting out the exact question to be voted upon. A vote signed by a member and delivered before the meeting in accordance with the prescribed voting procedure is equivalent to a vote at the meeting. No question on which there is voting by mail may be amended in any way at the meeting.History:  1973 c. 22; 1991 a. 316; 1997 a. 79.
WI Stat § 612.13 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 612 - Town mutuals.|612.13 - Directors and officers.

612.13  Directors and officers. (1) Number and classification. Town mutuals shall have at least 5 directors divided into 3 classes as nearly equal in size as possible. (1m)  Inside directors. (a) Beginning 2 years after April 30, 2004, all of the following apply:1. If a town mutual has fewer than 9 directors, no more than one director may be an employee or representative of the town mutual.2. Employees and representatives of a town mutual may not constitute a majority of its board.(b) Notwithstanding par. (a), the commissioner may allow a town mutual an extension of up to one year to come into compliance with the requirements under par. (a). (2)  Election. At each annual meeting one class of directors shall be elected by and from among the members for a term of 3 years. (3)  Duties. The board shall direct the business and affairs of the corporation and shall not delegate its power or responsibility to any person except as specifically provided otherwise in this chapter. (4)  Adjustment committee. The directors may annually appoint from their own number an adjustment committee of at least 3 persons, to adjust or supervise the adjustment of losses under s. 612.53. If no adjustment committee is appointed, the entire board shall act as the adjustment committee to adjust or supervise the adjustment of losses under s. 612.53. (5)  Directors' liability and indemnification. Directors who willfully neglect or refuse for 30 days to perform their duties under s. 612.54 shall be jointly and severally liable to any person sustaining loss by their nonfeasance. Section 611.62 applies to town mutuals. (6)  Removal. (a)  Directors. A director may be removed from office for cause by an affirmative vote of a majority of the full board at a meeting of the board called for that purpose. The vote of two-thirds of the members of the town mutual present at a meeting called for the purpose may remove a director from office with or without cause.(b)  Officers. Sections 181.0843 and 181.0844 apply to town mutuals.History:  1973 c. 22; 1997 a. 79; 2003 a. 261; 2015 a. 90.
WI Stat § 612.14 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 612 - Town mutuals.|612.14 - Reports.

612.14  Reports. An officer or person designated by an officer of the company shall present to the annual meeting written reports showing the condition of the town mutual on the previous December 31 and its activity during the preceding calendar year, including any information required to be presented by the articles or bylaws or by the commissioner. The officer or person designated by an officer shall include in the reports a sufficient level of information to reasonably inform members about the financial condition of the town mutual.History:  1973 c. 22; 2015 a. 90.
WI Stat § 612.15 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 612 - Town mutuals.|612.15 - Supervision of management changes.

612.15  Supervision of management changes. (1) Elections. (a) Report. The name and residence of each person selected as a director or officer of a town mutual, and such pertinent biographical data and financial information as the commissioner may reasonably require by rule, shall be reported to the commissioner immediately after the selection.(b) Disapproval. The commissioner, after a hearing called within 30 days after receipt of a report under par. (a), may disapprove any person selected who for any reason is unqualified to serve, who is not trustworthy or who lacks the competence and experience necessary to discharge his or her responsibilities. (2)  Report of removal. Whenever the board or a member's meeting removes a director or officer under s. 612.13 (6) or otherwise before the expiration of his or her term, the board shall promptly report to the commissioner the removal and a statement of the reasons therefor. (3)  Removal by commissioner. If the commissioner finds, after a hearing, that a director or officer is for any reason unqualified to serve, is incompetent or untrustworthy, or has willfully violated chs. 600 to 646, a rule promulgated under s. 601.41 (3) or an order issued under s. 601.41 (4), and that thereby the interests of members or of the public are endangered, the commissioner shall by order remove the director or officer. (4)  Changes of place of office. If the articles designate the residence or business address of a specified corporate officer as the place of the principal office of the town mutual, any change of such address shall be reported promptly to the commissioner.History:  1973 c. 22; 1979 c. 89; 1979 c. 102 s. 236 (13); 1991 a. 316.
WI Stat § 612.16 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 612 - Town mutuals.|612.16 - Exclusive agency and management contracts.

612.16  Exclusive agency and management contracts. Sections 611.66 and 611.67 apply to town mutuals.History:  1973 c. 22.
WI Stat § 612.18 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 612 - Town mutuals.|612.18 - Transactions with affiliates and in which directors and others are interested.

612.18  Transactions with affiliates and in which directors and others are interested. Sections 611.60 and 611.61 apply to town mutuals.History:  1973 c. 22; 1979 c. 102.
WI Stat § 612.21 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 612 - Town mutuals.|612.21 - Merger of town mutuals.

612.21  Merger of town mutuals. (1) Conditions for merger. Two or more town mutuals authorized to operate in all or part of the same or in contiguous territories not exceeding 16 counties altogether may merge into one of the constituent town mutuals, or into a new town mutual, under the procedure provided in this section. (2)  Plan of merger. The board of each participating town mutual shall adopt the same plan of merger by resolution stating:(a) The reasons for and the purposes of the proposed action;(b) The proposed terms, conditions and procedures for and estimated expenses of implementing the merger;(c) The proposed name of the surviving or new town mutual and the location of its principal office; and(d) The proposed articles and bylaws for the surviving or new town mutual. (3)  Approval by commissioner. Each of the participating town mutuals shall file with the commissioner for approval a copy of the resolution and any explanatory statement proposed to be issued to the members, together with so much of the information under s. 612.02 (4) for the surviving or new town mutual as the commissioner reasonably requires. The commissioner shall approve the plan unless he or she finds, after a hearing, that it would be contrary to the law, or that the surviving or new town mutual would not satisfy the requirements for a certificate of authority under s. 612.02 (6), or that the plan would be contrary to the interests of insureds or of the public. (4)  Approval by members. After being approved by the commissioner under sub. (3), the plan shall be submitted for approval to the members of each participating town mutual in a special joint meeting to be held within the territorial limits of one of the participating town mutuals. The members of each town mutual shall vote separately. (6)  Reports to commissioner. Each participating town mutual shall file with the commissioner a copy of the resolution adopted under sub. (4), stating the number of members entitled to vote, the number of members voting and the number of votes cast in favor of the plan, stating separately in each case the mail votes and the votes cast in person. (7)  Certificate of authority. If the requirements of the law are met, the commissioner shall issue a certificate of authority to the surviving town mutual. Thereupon the nonsurviving town mutuals shall cease their legal existence. The surviving town mutual shall have all the assets and be liable for all of the obligations of each of the participating town mutuals.History:  1973 c. 22; 1979 c. 102; 1985 a. 189; 1991 a. 316; 1997 a. 79.