CHAPTER 614
INSURANCE — FRATERNALS
SUBCHAPTER I
GENERAL PROVISIONS
614.02 Scope and purposes.
614.03 Orders imposing and relaxing restrictions.
614.05 Applicability of other insurance laws to fraternals.
614.07 General corporate powers and procedures.
SUBCHAPTER II
ORGANIZATION OF FRATERNALS
614.09 Reservation of corporate name.
614.10 Members and applicants in fraternals.
614.12 Articles of incorporation and bylaws.
614.13 Organization permit and certificate of incorporation.
614.14 Powers under organization permit and deposit of proceeds of subscriptions.
614.16 Termination of organization permit and payment of organization expenses.
614.18 Incorporators' liability and organization expenses.
614.19 Initial surplus requirements.
614.20 Certificate of authority.
614.22 Accelerated organization procedure.
614.24 Segregated accounts, variable benefits and subsidiaries.
614.28 Changes in business plan.
614.29 Amendment of articles of incorporation.
SUBCHAPTER III
SECURITIES OF FRATERNALS
614.31 Securities regulation.
614.33 Authorized securities.
SUBCHAPTER IV
MANAGEMENT OF FRATERNALS
614.41 Communications to members.
614.42 Representative form of government.
614.43 Annual report to fraternal members.
614.51 Board of directors.
614.53 Removal of directors and officers and filling of vacancies.
614.54 Supervision of management changes.
614.55 Continuity of management in emergencies.
614.56 Committees of directors.
614.57 Interlocking directorates and other relationships.
614.60 Transactions with affiliates and in which directors and others are interested.
614.62 Directors' liability and indemnification.
614.63 Executive compensation.
614.66 Exclusive agency contracts and management contracts.
SUBCHAPTER V
CORPORATE REORGANIZATION
614.73 Merger and consolidation of fraternals.
614.74 Voluntary dissolution of solvent domestic fraternals.
614.76 Voluntary conversion of fraternals to mutuals.
614.77 Rehabilitation or involuntary conversion.
SUBCHAPTER VI
MISCELLANEOUS PROVISIONS
614.82 Fraternal expenditures and activities.
614.94 Fraternals as fundholders.
614.96 Exemption of fraternal benefits.
Ch. 614 Cross-reference
Cross-reference: See definitions in ss.
600.03,
610.01 and
628.02.
Ch. 614 Cross-reference
Cross Reference: See also ch.
Ins 1, Wis. adm. code.
GENERAL PROVISIONS
614.01(1)(a)
(a) A "fraternal", also called a "fraternal benefit society" or "mutual benefit society" is a corporation organized or operating under this chapter that:
614.01(1)(a)2.b.
b. Any lawful social, intellectual, educational, charitable, benevolent, moral, fraternal, patriotic or religious purposes for the benefit of its members or the public, carried on through voluntary activity of its members in their local lodges or through institutional programs of the fraternal or its local lodges;
614.01(1)(a)5.
5. Provides insurance benefits authorized under this chapter.
614.01(1)(b)
(b) The "laws" of a fraternal include its articles of incorporation and bylaws, however designated.
614.01(1)(c)
(c) A "lodge system" exists only if all of the following conditions are met:
614.01(1)(c)2.
2. Subordinate to the supreme governing body, there are local lodges, whatever the local lodges are called, into which natural persons are admitted as members in accordance with the laws of the fraternal.