Organization permit and certificate of incorporation
Wis. Stat. § 611.13
in effect(1) Permit required. No person may, in the case of a stock corporation, solicit subscriptions for its securities, or in the case of a mutual, solicit applications for qualifying insurance policies or subscriptions for mutual bonds or contribution notes, until the commissioner has issued an organization permit.
(2) Application for permit. The application for an organization permit shall be signed and acknowledged by or on behalf of each incorporator, and shall include or have attached:
(a) The names, and for the preceding 10 years all addresses and all occupations of all incorporators and proposed directors and officers;
(b) For all corporate incorporators, their articles and bylaws, a list of the names, addresses and occupations of all directors and principal officers, and for the 3 most recent years their annual financial statements and reports;
(c) The proposed articles which shall be signed and acknowledged by or on behalf of each incorporator, and the proposed bylaws;
(d) All agreements relating to the corporation to which any incorporator or proposed director or officer is a party;
(e) The amount and sources of the funds available for organization expenses and the proposed arrangements for reimbursement and compensation of incorporators or other persons;
(f) The proposed compensation of directors and officers;
(g) The plan for solicitation of applications for qualifying insurance policies and for the corporation’s securities;
(h) The forms to be used for stock subscriptions, certificates for shares, applications for qualifying insurance policies, subscriptions for mutual bonds and contribution notes, and the forms for bonds and notes;
(i) The proposed capital, or the proposed minimum permanent surplus, and the proposed initial surplus;
(j) The plan for conducting the insurance business, including:
1. The geographical area in which business is intended to be done in the first 5 years;
2. The types of insurance intended to be written in the first 5 years;
3. The proposed marketing methods;
4. To the extent requested by the commissioner, the proposed method for the establishment of premium rates;
(k) A projection of the anticipated operating results of the corporation at the end of each of the first 5 years of operation, based on reasonable assumptions of loss experience, premium and other income, operating expenses and acquisition costs; and
(L) Such other relevant documents or information as the commissioner reasonably requires.
(3) Issuance of organization permit and of certificate of incorporation. The commissioner shall issue an organization permit and a certificate of incorporation if:
(a) The commissioner finds that all requirements of law have been met;
(b) The commissioner is satisfied that all natural persons who are incorporators, the directors and principal officers of corporate incorporators, and the proposed directors and officers of the corporation being formed are trustworthy and competent and collectively have the competence and experience to engage in the particular insurance business proposed; and
(c) The commissioner is satisfied that the business plan is consistent with the interests of the corporation’s potential insureds and of the public.
(4) Contents of permit. The organization permit shall specify the minimum capital or minimum permanent surplus required under s. 611.19, and may contain such other information as the commissioner deems necessary.
(5) Legal existence. Upon the issuance of the certificate of incorporation the legal existence of the corporation shall begin, the articles and bylaws shall become effective and the proposed directors and officers shall take office. The certificate shall be conclusive evidence of compliance with this section, except in a proceeding by the state against the corporation.
Source: WI Statutes (Official Site)URL: https://docs.legis.wisconsin.gov/document/statutes/611.13Fetched: 10/7/2026