614.51 Board of directors.
(1) General. Sections 181.0801 (1) and (2) and 181.0802 apply to fraternals, except that the supreme governing body may act as the board of directors if it meets at least quarterly. Section 611.51 (2) to (9) applies to fraternals, except that the word “mutual" shall be read “fraternal" and the references to other sections of ch. 611 shall be to the corresponding sections of this chapter.
(2) Terms of directors and officers. The terms of directors and officers may not exceed 4 years.
History: 1975 c. 373; 1997 a. 79.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 614 - Insurance — fraternals.
614.03 - Orders imposing and relaxing restrictions.
614.05 - Applicability of other insurance laws to fraternals.
614.07 - General corporate powers and procedures.
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.
614.31 - Securities regulation.
614.33 - Authorized securities.
614.41 - Communications to members.
614.42 - Representative form of government.
614.43 - Annual report to fraternal members.
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.
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.
614.78 - Maintenance of solvency.
614.79 - Rehabilitation and liquidation.
614.82 - Fraternal expenditures and activities.