Wisconsin Statutes > Chapter 644 > Subchapter II – Mutual Insurance Holding Companies
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Terms Used In Wisconsin Statutes > Chapter 644 > Subchapter II - Mutual Insurance Holding Companies
- Acquire: when used in connection with a grant of power to any person, includes the acquisition by purchase, grant, gift or bequest. See Wisconsin Statutes 990.01
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Converted insurance company: means an insurance company that converted under this chapter from a mutual insurance company to a stock insurance company, or from a service insurance corporation to a mutual insurance company and then to a stock insurance company, and formed a mutual holding company. See Wisconsin Statutes 644.02
- Converted life insurance company: means a life insurance company that converted under this chapter from a mutual life insurance company to a stock insurance company and formed a mutual holding company. See Wisconsin Statutes 644.02
- Converting insurance company: means a domestic mutual insurance company or a domestic service insurance corporation undergoing restructuring under this chapter. See Wisconsin Statutes 644.02
- 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.
- Corporation: includes a mutual holding company formed under this chapter. See Wisconsin Statutes 644.02
- Department: means the commissioner. See Wisconsin Statutes 644.02
- Dividend plan: means a Wisconsin Statutes 644.02
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- 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
- Intermediate stock holding company: means a corporation that satisfies all of the following:
1. See Wisconsin Statutes 644.02Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases. Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. membership interests: means the voting rights of a member arising under the statutes and the articles of incorporation and bylaws of the mutual holding company, including the right to vote for the board and the right to vote on any plan of conversion, voluntary dissolution or amendment of the articles of incorporation. See Wisconsin Statutes 644.02 Mortgage: The written agreement pledging property to a creditor as collateral for a loan. 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 Officers: when applied to corporations include directors and trustees. See Wisconsin Statutes 990.01 Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01 Policyholder: includes a member. See Wisconsin Statutes 644.02 Preceding: when used by way of reference to any statute section, means the section next preceding that in which the reference is made. See Wisconsin Statutes 990.01 Property: includes real and personal property. See Wisconsin Statutes 990.01 Rights in surplus: means any rights of a member arising under the converting insurance company's articles of incorporation or ch. See Wisconsin Statutes 644.02 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 This chapter: includes this chapter. See Wisconsin Statutes 644.02 Year: means a calendar year, unless otherwise expressed; "year" alone means "year of our Lord". See Wisconsin Statutes 990.01