618.36 Release from regulation.

141 words·~1 min read·/wi/chapter-618/618-36

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

(1)Continuance of regulation. A nondomestic insurer authorized under this chapter is subject to regulation under the applicable provisions of chs. 600 to 646 until released from regulation under this section.

(2)Application for release. A nondomestic insurer may apply for release from regulation by filing with the commissioner:

(a)Its certificate of authority;

(b)A schedule of its outstanding liabilities from policies issued in this state, to residents of this state, or on risks located in this state and from other business transactions in this state;

(c)A plan for securing the discharge of such liabilities; and

(d)Such other information as the commissioner reasonably requires.

(3)Release order. The commissioner shall release the insurer from regulation if he or she finds:

(a)That the insurer has ceased to do any new business in this state;