612.10 Membership.
(1) Creation and duration of membership. Each policyholder is a member of the town mutual and has all the rights and duties of a member during the time his or her policy is in effect. The articles or bylaws may establish rules determining which of multiple policyholders on the same policy shall exercise voting rights or how such multiple policyholders may divide voting rights among them.
(2) Mortgagee not a member. A person having rights merely by reason of a mortgagee clause included in or attached to a policy does not thereby become a member.
History: 1973 c. 22; 1979 c. 102 s. 236 (13).
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
612.01 - Purposes, scope, interpretation and definitions.
612.02 - Organization of town mutuals.
612.03 - General powers and effect of unauthorized corporate acts.
612.04 - Amendments of articles, bylaws and business plan.
612.12 - Voting rights of members.
612.13 - Directors and officers.
612.15 - Supervision of management changes.
612.16 - Exclusive agency and management contracts.
612.18 - Transactions with affiliates and in which directors and others are interested.
612.21 - Merger of town mutuals.
612.22 - Merger of town mutuals and mutual insurance corporations.
612.23 - Conversion of town mutuals into mutual insurance corporations.
612.24 - Transfer of business.
612.25 - Voluntary dissolution of town mutuals.
612.35 - Borrowing and repayment.
612.52 - Undertaking to pay premiums and assessments.