Wisconsin Statutes 616.74 – Manner of obtaining company license; fee
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Terms Used In Wisconsin Statutes 616.74
- Commissioner: means the commissioner of insurance, or the commissioner's assistants or deputies, or other persons authorized to act for the commissioner. See Wisconsin Statutes 616.71
- Company: means any person, firm, partnership, company, association or corporation engaged in selling, furnishing or procuring, as principal, for a consideration, motor club service. See Wisconsin Statutes 616.71
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- State: when applied to states of the United States, includes the District of Columbia, the commonwealth of Puerto Rico and the several territories organized by Congress. See Wisconsin Statutes 990.01
- Year: means a calendar year, unless otherwise expressed; "year" alone means "year of our Lord". See Wisconsin Statutes 990.01
(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 (1) (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.