628.345 Prohibited practices during license revocation or surrender.
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/wi/chapter-628/628-345-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
628.345 Prohibited practices during license revocation or surrender.
(1)In this section:
(a)“Disciplinary period” means the period of time beginning on the effective date of the termination of the license of an intermediary under par.
(b)1. and ending on the date on which a new license is issued to the intermediary. The “disciplinary period” of a person under par.
(b)2. , 3. or 4. is the disciplinary period of the intermediary under par.
(b)1. through which the person attains the status of “disciplined person”.
(b)“Disciplined person” means any of the following:
1. An intermediary whose license is revoked under s. 628.10
(b)or surrendered under a stipulation.
2. An affiliate of an intermediary under subd. 1.
3. A person in which an intermediary under subd. 1. has, directly or indirectly, more than a 10 percent ownership interest.
4. An agent or employee of a person described in subd. 1. , 2. or 3.
(2)During the disciplinary period of a disciplined person, the disciplined person may not be employed by, act as agent for, or be affiliated with, a person engaged in the business of an insurance intermediary.
(3)No person may do any of the following with respect to activities performed in this state:
(a)Pay consideration to, or expenses of, a disciplined person that directly or indirectly relate to services performed as an intermediary by the disciplined person during the disciplinary period of the disciplined person.