620.12 Disposal of prohibited assets.
85 words·~1 min read·
/wi/chapter-620/620-12A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
620.12 Disposal of prohibited assets.
(1)Investments becoming illegal. The commissioner shall allow a reasonable time not longer than 10 years for disposal of any investment legally held on April 30, 1972, or of any investment legal when made but subsequently becoming illegal.
(2)Hardship cases. A reasonable time shall be allowed for disposal of assets if the investment was made by mistake or if forced sale of the asset would be contrary to the interests of insureds, creditors or the public of this state.