Terms Used In Wisconsin Statutes > Chapter 644 - Domestic 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.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• 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
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Department: means the commissioner. See Wisconsin Statutes 644.02
• Dividend plan: means a Wisconsin Statutes 644.02
• Dividend scales: means the Wisconsin Statutes 644.02
• Divisible surplus: means the 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: