Wisconsin Statutes 644.20 – Management contract services
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Wisconsin Statutes 644.20
- Board: means the board of directors or board of trustees, as the case may be, of the converting insurance company. See Wisconsin Statutes 644.02
- Contract: A legal written agreement that becomes binding when signed.
- Mutual: includes a mutual holding company. See Wisconsin Statutes 644.02
- Mutual holding company: means a mutual insurance holding company. See Wisconsin Statutes 644.02
- Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
A mutual holding company may not be a party to a contract that has the effect of delegating to a person, to the substantial exclusion of the board, the authority to exercise any management control of the mutual holding company or of any of its major corporate functions.