Insurance Corporation Conversion Debt Securities

Statute: § 551.22(16), Wis. Stats.

Used for: Debt securities approved by the Commissioner of Insurance and issued in connection with the conversion of a stock, service, or fraternal insurance corporation to a mutual form of organization.

Filing requirement: Self-Executing. No filing or Consent to Service of Process is necessary in order to claim this exemption.

Frequently asked questions:

Q: Is the exemption self-executing?

    A: Yes. No filing or Consent to Service of Process is required.

History: Adopted on January 1, 1970. There is no parallel section in the Uniform Securities Act.

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