616.54 Requirements for doing business.

360 words·~2 min read·/wi/chapter-616/616-54-2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Appointment of administrator. A provider may, but is not required to, appoint an administrator to be responsible for any or all of the administration of service contracts and compliance with this subchapter. Except as provided in s. 616.58

(b), a provider shall be liable for the acts of an administrator appointed by the provider to assist with the administration of the provider’s service contracts to the extent such acts relate to the provider’s service contracts offered in or from this state. No person may act as an administrator of service contracts sold in this state unless the person registers with the commissioner by providing the following information:

(a)The name, business address, and other information required by the commissioner for an employee or officer of the administrator that is designated by the applicant as the person responsible for the administration of service contracts in this state.

(b)The location of the administrator’s home office.

(c)The names of the service contract providers for whom the administrator performs administration.

(2)Receipt and copy of contract. A service contract may not be issued, sold, or offered for sale in this state unless the provider of the service contract has done all of the following:

(a)Provided a receipt for, or other written evidence of, the purchase of the service contract to the service contract holder.

(b)Provided a copy of the service contract to the service contract holder within a reasonable period of time from the date of purchase.

(3)Sample contract. A provider shall provide a consumer with a complete sample copy of the service contract terms and conditions prior to the time of sale upon a request for the same by the consumer. A provider may comply with this subsection by providing the consumer with a complete sample copy of the terms and conditions or by directing the consumer to an Internet website containing a complete sample of the terms and conditions of the service contract.

(4)Licensure.

(a)No person may act as a provider in this state unless the commissioner issues a license to the person under par.

(c).