611.07 General corporate powers and procedures. (1) POWERS. Subject to s. 611.63, s. 180.0302 applies to stock corporations and s. 181.0302 (intro.), (1) to (15), (18) and (19) applies to mutuals. (2) EFFECT OF UNAUTHORIZED CORPORATE ACTS. Section 180.0304 applies to stock corporations and s. 181.0304 applies to
May 22, 2026, are designated by NOTES. (Published 5-22-26)
Updated 23-24 Wis. Stats. 2 DOMESTIC STOCK AND MUTUAL INSURANCE CORPORATIONS mutuals, except that references to “attorney general” shall be read (c) The purposes of the corporation shall be limited to those as “commissioner”. permitted by s. 610.21. (4) WAIVER OF NOTICE AND INFORMAL ACTION BY SHARE(2) MUTUALS. Section 181.0202 applies to the articles of a HOLDERS, POLICYHOLDERS OR DIRECTORS. Sections 180.0704, mutual, except that: 180.0706, 180.0821, and 180.0823 apply to stock corporations (a) The name of the corporation shall include the words “muand ss. 181.0704, 181.0706, 181.0821, and 181.0823 apply to tual” and “insurance” or terms of equivalent meaning and shall mutuals. Section 180.0821 also applies to a committee of the comply with s. 181.0401 (2) to (4); board of a stock corporation and s. 181.0821 also applies to a (am) The articles shall include a statement that the corporacommittee of the board of a mutual, except that, in both cases, tion is organized under this chapter; references to “board” shall be read as “committee” and “direc(b) The articles shall include provision for mutual bonds if tors” shall mean members of the board appointed to serve on the any are to be authorized, which shall conform to s. 611.33 (2) (a); committee. (c) The purposes of the corporation shall be limited to those (6) POWER TO HOLD ASSETS AS TRUSTEE. A life insurance permitted in s. 610.21; corporation may hold assets under s. 632.42 (1) as trustee or as (d) If assessable policies are permitted, the articles shall congeneral corporate assets. (7) CORRECTING FILED DOCUMENT. Section 180.0124 ap- tain general provisions respecting assessment liabilities and procedures, including a provision specifying the classes of business plies to stock corporations. on which assessment may be separately levied; and History: 1971 c. 260; 1973 c. 128 ss. 25, 30; 1973 c. 184, 336; 1975 c. 373 s. 40; 1975 c. 375 s. 44; 1975 c. 422; 1979 c. 110; 1987 a. 13; 1989 a. 303; 1997 a. 79, 252; (e) The articles may specify those classes of persons who may 2015 a. 90. be policyholders, or prescribe the procedure for establishing or removing restrictions on the classes of persons who may be poliSUBCHAPTER II cyholders, and the articles shall state that each policyholder is a member of the corporation. ORGANIZATION OF CORPORATIONS (3) PRINCIPAL OFFICERS. Sections 180.0840 and 180.0841 apply to stock corporations and ss. 181.0840 and 181.0841 apply