Current through Acts 2023-2024, ch. 272
Section 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.1975 c. 223; 1979 c. 102.