reglab/housing_qa huggingface dataset:
WI Stat § 616.18 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 616 - Miscellaneous insurers.|616.18 - Restrictions on transactions.

616.18  Restrictions on transactions. (1) Voidable transactions. Any material transaction between a plan or corporation authorized under this subchapter and one or more of its management or members of its governing board, or with any person in a position to influence the vote of any member of its governing board or the decision of any of its management or with any person having power to control the plan or corporation is voidable by the plan or corporation unless:(a) The transaction at the time it is entered into is reasonable and fair to the interests of the plan or corporation and its members;(b) The transaction has, with full knowledge of its terms and of the interests involved, been approved in advance by the governing board or by the members; and(c) The transaction has been reported to the commissioner immediately after approval under par. (b). (2)  Excepted transactions. (a) This section does not apply to policies of insurance issued by the plan or corporation in the normal course of its business.(b) The commissioner may by rule exempt other classes of transactions from the reporting requirement of sub. (1) (c), if the purposes of this section can be achieved without the report.History:  1979 c. 261.
WI Stat § 616.20 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 616 - Miscellaneous insurers.|616.20 - Conversion of plans under s. 616.06 to mutuals under ch. 611 or service insurance corporations under ch. 613.

616.20  Conversion of plans under s. 616.06 to mutuals under ch. 611 or service insurance corporations under ch. 613. (1) Authorization. Under a proposal proposed by the officers of a plan operating under s. 616.06 and approved by the commissioner and by a majority of the members voting, the plan may be converted to a mutual under ch. 611 or a service insurance corporation under ch. 613. (2)  Notice and voting rights. Voting on the conversion is required only if the bylaws provide for it. Voting shall be as provided in the bylaws. If voting is required, but there is no notice provision in the bylaws, the officers shall give notice of the plan to convert under sub. (1) to all members entitled to vote on the conversion at least 30 days before the plan is submitted to the members for a vote. Whether or not voting is required, any member who feels aggrieved by the conversion plan may communicate objections to the commissioner who shall give them consideration before approving the plan. If voting is required by the bylaws, the commissioner may not approve the plan until at least 60 days after notice has been given to all members and 30 days after the voting on the plan. In all cases the commissioner may approve the plan only if the conversion plan protects the legitimate interests of the members. (3)  Membership and ownership of assets. Members of the plan shall be the members of the mutual or service insurance corporation created by conversion under this section. Assets of the plan shall become assets of the new corporation, and all existing contracts shall become the contracts of the new corporation. (4)  Liability of officers. If the commissioner approves a conversion under this section, no officer is liable to any member for losses suffered solely as a result of the conversion. (5)  Fees. A new corporation formed under this section is not subject to the fees under s. 601.31 (1) or (2).History:  1979 c. 261.
WI Stat § 616.52 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 616 - Miscellaneous insurers.|616.52 - Applicability.

616.52  Applicability. (1) This subchapter does not apply to any of the following:(a) Warranties, as defined in s. 100.203 (1) (g), 100.205 (1) (g), or 616.50 (14).(b) Maintenance agreements.(c) Service contracts offered by public utilities on their devices for the transmission of public utility service to customers to the extent such service contracts are regulated by the public service commission.(cm) Service contracts offered by cooperative associations organized under ch. 185, for the purpose of producing or furnishing heat, light, power, or water to their members, or by subsidiaries or affiliates of such cooperative associations.(d) Service contracts sold or offered for sale to persons other than consumers.(e) Service contracts for inside wire protection plans associated with the offering of telecommunications service, as defined in s. 182.017 (1g) (cq), or video service, as defined in s. 66.0420 (2) (y).(f) Service contracts with respect to commercial property used in the provision of telecommunications service, as defined in s. 182.017 (1g) (cq), or video service, as defined in s. 66.0420 (2) (y). (2) Motor vehicle manufacturer's service contracts on the motor vehicle manufacturer's products are exempt from this subchapter, except for ss. 616.56 (1) to (3) and (6) to (16), 616.58, and 616.62, and motor vehicle manufacturers offering service contracts on the motor vehicle manufacturer's products are exempt from licensure under s. 616.54 (4). (3) A person who holds a valid certificate of authority under s. Ins 15.01, Wis. Adm. Code may elect to do one of the following:(a) Continue to operate in this state under the certificate of authority. If the person makes such an election, s. Ins 15.01, Wis. Adm. Code shall continue to apply to the person and this section shall not apply to the person.(b) Apply for a license as a provider pursuant to s. 616.54 (4). If the person is licensed, this subchapter shall apply to the person and s. Ins 15.01, Wis. Adm. Code shall not apply to the person for any service contracts issued subsequent to licensure.History:  2011 a. 226; 2015 a. 197 s. 51.
WI Stat § 616.58 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 616 - Miscellaneous insurers.|616.58 - Prohibited acts.

616.58  Prohibited acts. (1) (a) A provider shall not use in its name used in this state the words “insurance," “casualty," “surety," or “mutual" or any other words descriptive of the insurance, casualty, or surety business; or a name deceptively similar to the name or description of any insurance or surety corporation, or to the name of any other provider. The word “guaranty" or a similar word may be used by a provider.(b) Paragraph (a) does not apply to a provider that was using any language prohibited under par. (a) in its name used in this state prior to April 20, 2012. (2) (a) No provider, administrator, service contract seller, or provider's representative may make or cause to be made any communication relating to a service contract, the service contract business, insurance business, any insurer, any administrator, or any provider that contains false or misleading information, including information that is misleading due to incompleteness. Filing a report and, with intent to deceive a person examining it, making a false entry in a record or intentionally refraining from making a proper entry, are “communications" within the meaning of this paragraph. No provider or administrator may use any business name, slogan, emblem, or related device that is misleading or likely to cause the provider or administrator to be mistaken for another provider or administrator already in business.(b) If an administrator or representative of a provider distributes cards or documents, exhibits a sign, or publishes an advertisement that violates par. (a), having reference to a particular provider that the administrator or representative represents, such violation creates a rebuttable presumption that the violation was also committed by the provider. (3) A person, including a bank, savings and loan association, lending institution, manufacturer, or seller of any product, shall not require the purchase of a service contract as a condition of a loan or a condition for the sale of any property, except that a person buying or selling a home may condition the purchase or sale of the home on the seller's or buyer's procurement of a service contract that covers the home. (4) A motor vehicle service contract provider or its representative shall not, directly or indirectly, represent in any manner, whether by written solicitation or telemarketing, a false, deceptive, or misleading statement with respect to any of the following:(a) The provider's affiliation with a motor vehicle manufacturer.(b) The provider's possession of information regarding a motor vehicle owner's current motor vehicle manufacturer's original equipment warranty.(c) The expiration of a motor vehicle owner's current motor vehicle manufacturer's original equipment warranty.(d) A requirement that a motor vehicle owner purchase a new motor vehicle service contract with the provider in order to maintain coverage under the motor vehicle owner's current motor vehicle service contract or manufacturer's original equipment warranty.History:  2011 a. 226.
WI Stat § 616.60 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 616 - Miscellaneous insurers.|616.60 - Record-keeping requirements.

616.60  Record-keeping requirements. (1) (a) A provider shall keep accurate accounts, books, and records concerning transactions regulated under this subchapter.(b) A provider's accounts, books, and records shall include all of the following:1. Copies of each type of service contract sold.2. The name and address of each service contract holder that has furnished such information to the provider.3. A list of the locations where service contracts are marketed, sold, or offered for sale in this state.4. Written claims files that shall contain at least the dates, descriptions, and amounts paid or denied for claims related to the service contracts.5. The effective date, expiration date, name of the seller, and provider fee paid for each service contract sold in this state.(c) Except as provided in sub. (2), a provider shall retain all records required to be maintained under this subsection for a service contract for at least one year after the period of coverage specified in the contract has expired.(d) The records required under this subsection may be, but are not required to be, maintained on a computer disk or other record-keeping technology. If the records are maintained in other than hard copy, the records shall be capable of duplication to electronic copy or legible hard copy at the request of the commissioner. (2) A provider discontinuing business in this state shall maintain its records until it furnishes the commissioner satisfactory proof that it has discharged all obligations to service contract holders in this state.History:  2011 a. 226.
WI Stat § 616.62 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 616 - Miscellaneous insurers.|616.62 - Enforcement.

616.62  Enforcement. (1) The commissioner may conduct examinations of providers, administrators, servicer contract sellers, or other persons under ss. 601.43 to 601.45 to enforce the provisions of this subchapter and protect service contract holders in this state. Upon request of the commissioner, a provider shall make all accounts, books, and records concerning service contracts sold by or on behalf of the provider available to the commissioner which are necessary to enable the commissioner to reasonably determine compliance with this subchapter. (2) The commissioner may take any action under ss. 601.41 and 601.61 to 601.73 that is necessary or appropriate to enforce the provisions of this subchapter and the commissioner's rules and orders and to protect service contract holders in this state. The commissioner may subject a provider to any reporting and replying requirement under s. 601.42.History:  2011 a. 226.
WI Stat § 616.72 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 616 - Miscellaneous insurers.|616.72 - License to sell motor club service.

616.72  License to sell motor club service. No company shall sell or offer for sale any motor club service without first having deposited with the commissioner the sum of $25,000, in cash or securities approved by the commissioner, or, in lieu thereof, a bond in the form prescribed by the commissioner, payable to the state of Wisconsin, in the sum of $50,000, with corporate surety approved by the commissioner, conditioned upon the faithful performance in the sale or rendering of motor club service and payment of any fines or penalties levied against it for failure to comply with this chapter. Upon the depositing of such security with the commissioner, it shall be the duty of said commissioner to issue a certificate of authority to said company. The provisions of this section shall not affect or apply to any company heretofore organized which has been in continuous operation in this state for a period of more than 3 years immediately prior to May 24, 1933 and has a fully paid annual membership of more than 500 members within this state. The foregoing cash deposit or bond is not required in any instance as a penalty, but for the protection of the public only.History:  1977 c. 339 ss. 8, 44; Stats. 1977 s. 616.72.
WI Stat § 616.74 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 616 - Miscellaneous insurers.|616.74 - Manner of obtaining company license; fee.

616.74  Manner of obtaining company license; fee. (1) No certificate of authority shall be issued by the commissioner until the company has filed with the commissioner the following:(a) A formal application in such form and detail as the commissioner may require, executed under oath by its president or other principal officer;(b) A certified copy of its charter or articles of incorporation and its bylaws, if any;(c) A certificate from the department of financial institutions, if it is a nonprofit corporation, that it has complied with the corporation laws of this state; if it is a corporation the stock of which has been or is being sold to the general public, a certificate from the division of securities that it has complied with the requirements of the securities law of this state. (2) No certificate of authority shall be issued by the commissioner until the company has paid to the commissioner the fee required by s. 601.31 (1) (b). (3) Every certificate of authority issued hereunder shall expire annually on July 1, of each year, unless sooner revoked or suspended, as hereinafter provided.History:  1971 c. 307; 1977 c. 339 s. 8; Stats. 1977 s. 616.74; 1979 c. 102 s. 237; 1991 a. 316; 1995 a. 27.
WI Stat § 616.76 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 616 - Miscellaneous insurers.|616.76 - Form of service contract.

616.76  Form of service contract. No service contract shall be executed, issued, or delivered in this state until the form thereof has been approved in writing by the commissioner.History:  1977 c. 339 s. 8; Stats. 1977 s. 616.76.
WI Stat § 616.77 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 616 - Miscellaneous insurers.|616.77 - Execution of service contract.

616.77  Execution of service contract. Every service contract, executed, issued, or delivered in this state shall be made in duplicate, and shall be dated and signed by the company issuing the service contract and by the party purchasing the service contract, and one copy shall be kept by the company, and the other copy shall be delivered to the party purchasing the service contract.History:  1977 c. 339 s. 8; Stats. 1977 s. 616.77; 1987 a. 166.
WI Stat § 616.78 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 616 - Miscellaneous insurers.|616.78 - Contents of contract.

616.78  Contents of contract. No service contract shall be executed, issued, or delivered in this state unless it contains the following: (1) The exact corporate or other name of the company. (2) The exact location of its home office and of its usual place of business in this state, giving street number and city.History:  1977 c. 339 s. 8; Stats. 1977 s. 616.78.
WI Stat § 616.79 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 616 - Miscellaneous insurers.|616.79 - Only agents to solicit business.

616.79  Only agents to solicit business. No person shall solicit, or aid in the solicitation of, another person to purchase a service contract issued by a company not duly licensed under this subchapter.History:  1977 c. 339 ss. 8, 44; 1979 c. 355 s. 236.
WI Stat § 616.80 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 616 - Miscellaneous insurers.|616.80 - Misrepresentations forbidden.

616.80  Misrepresentations forbidden. No company, and no officer or agent thereof, shall orally, or in writing, misrepresent the terms, benefits, or privileges of any service contract issued, or to be issued, by it.History:  1977 c. 339 s. 8; Stats. 1977 s. 616.80.
WI Stat § 616.81 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 616 - Miscellaneous insurers.|616.81 - Company always bound by contract.

616.81  Company always bound by contract. Any service contract made, issued, or delivered contrary to any provision of this subchapter shall nevertheless be valid and binding on the company.History:  1977 c. 339 ss. 8, 44; Stats. 1977 s. 616.81; 1979 c. 355 s. 236.
WI Stat § 616.82 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 616 - Miscellaneous insurers.|616.82 - Person exempted.

616.82  Person exempted. Nothing in this subchapter applies to an authorized attorney at law acting in the usual course of the profession, nor to any insurance company, bonding company, or surety company now or hereafter duly and regularly licensed and doing business as such under the laws of this state.History:  1977 c. 339 ss. 8, 44; Stats. 1977 s. 616.82; 1979 c. 89, 176; 1979 c. 355 s. 236.
WI Stat § 617.01 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 617 - Regulation of insurance holding companies and intercorporate transactions relating to insurers.|617.01 - Construction and purpose.

617.01  Construction and purpose. (1) Construction. This chapter shall be liberally construed to achieve the purpose of sub. (2), which shall constitute an aid and guide to interpretation but not an independent source of power. (2)  Purpose. The purpose of this chapter is to protect the interests of insureds, stockholders and of the public against intercorporate transactions among affiliates that may affect the solidity of insurers authorized to do business in this state or otherwise be detrimental to protected interests.
WI Stat § 617.03 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 617 - Regulation of insurance holding companies and intercorporate transactions relating to insurers.|617.03 - Exemptions.

617.03  Exemptions. The commissioner may exempt any specified person or class of persons from this chapter or any provisions thereof, when the commissioner deems such exemption consistent with the purposes of this chapter and in the public interest.History:  1979 c. 102 s. 236 (6).
WI Stat § 617.12 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 617 - Regulation of insurance holding companies and intercorporate transactions relating to insurers.|617.12 - Rules requiring enterprise risk reports.

617.12  Rules requiring enterprise risk reports. (1) In this section, “enterprise risk" means any activity, circumstance, event, or series of events involving one or more affiliates of an insurer that, if not remedied, is likely to have a material adverse effect on the financial condition or liquidity of the insurer or its insurance holding company system, as defined in s. 622.03 (2), as a whole, including anything that would cause the insurer's risk-based capital to fall into company action level as set forth in s. Ins 51.01 (4), Wis. Adm. Code, or that would cause the insurer to be in a hazardous financial condition as described in s. 623.11, 645.31, or 645.41. (2) The commissioner shall promulgate rules requiring insurers to report their enterprise risk, including the form of the report and the manner and process for filing the report.History:  2013 a. 279.
WI Stat § 617.215 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 617 - Regulation of insurance holding companies and intercorporate transactions relating to insurers.|617.215 - Supervisory colleges.

617.215  Supervisory colleges. (1) Definitions. In this section:(a) “Insurance holding company system" has the meaning given in s. 622.03 (2).(b) “Supervisory college" means a temporary or permanent forum for communication and cooperation between the regulators charged with the supervision of an insurer that is part of an insurance holding company system with international operations. (2)  Powers of commissioner. (a) In accordance with par. (b), the commissioner may participate in a supervisory college for any domestic insurer that is part of an insurance holding company system with international operations to determine the insurer's compliance with this chapter. The powers of the commissioner with respect to supervisory colleges include all of the following:1. Initiating the establishment of a supervisory college.2. Clarifying the membership and participation of other supervisors in the supervisory college.3. Clarifying the functions of the supervisory college and the role of other regulators, including the establishment of a group-wide supervisor.4. Coordinating the ongoing activities of the supervisory college, including planning meetings, supervisory activities, and processes for information sharing.5. Establishing a crisis management plan.(b) In order to assess the business strategy, financial position, legal and regulatory position, risk exposure, risk management, and governance processes of an insurer specified in par. (a), and as part of an examination of such an insurer under s. 601.43, the commissioner may participate in a supervisory college with other regulators charged with the supervision of the insurer or its affiliates, including other state, federal, and international regulatory agencies.(c) The commissioner may enter into agreements for keeping information confidential in accordance with s. 601.465, providing the basis for cooperation between the commissioner and the other regulatory agencies and the activities of the supervisory college. (3)  Payment of expenses. All insurers to which this section applies are liable for and shall pay the reasonable expenses related to the commissioner's participation in supervisory colleges, including reasonable travel expenses. The commissioner may impose a regular assessment on insurers to cover the expenses. (4)  Not delegation of authority. Nothing in this section delegates to a supervisory college the authority of the commissioner to regulate or supervise an insurer or its affiliates within the commissioner's jurisdiction.History:  2013 a. 279.
WI Stat § 617.22 (2021)
2021 Wisconsin Statutes & Annotations|Chapter 617 - Regulation of insurance holding companies and intercorporate transactions relating to insurers.|617.22 - Dividends and other distributions.

617.22  Dividends and other distributions. (1) General. Any action by the board of a stock insurer authorized to do business in this state authorizing any distribution to shareholders other than a stock dividend shall be reported to the commissioner in writing. No payment may be made until at least 30 days after such report. (2)  New corporations. For 5 years after the initial issuance of a certificate of authority, no payment may be made under sub. (1) until at least 45 days after the report. The commissioner may extend the waiting period an additional 45 days by giving notice to the corporation not less than 5 days before expiration of the first 45-day period. (3)  Exemptions. If sub. (2) is inapplicable, no report need be made under sub. (1) of a distribution that is no more than 15 percent larger than for the corresponding period in the previous year. (4)  Special exemption for certain nondomestic insurers. A nondomestic insurer which does not have to report under s. 617.11 is only required to report dividends if so directed by the commissioner.History:  1979 c. 102 ss. 145, 236 (2).