645.09 Commissioner’s reports.

371 words·~2 min read·/wi/chapter-645/645-09-2

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

(1)General report of proceedings. The commissioner may include in his or her annual report:

(a)Formal proceedings. The names of the insurers proceeded against under ss. 645.31 , 645.41 , 645.45 , 645.81 , 645.82 and 645.84 , and such other facts as indicate in reasonable detail the commissioner’s formal proceedings under this chapter; and

(b)Informal proceedings. Such facts as generally indicate the utilization and effectiveness of proceedings under ss. 645.21 , 645.22 and 645.23 .

(2)Special reports.

(a)Causes of delinquency. The commissioner may include in his or her annual report, not later than the 2nd annual report following the initiation of any formal proceedings under this chapter, a detailed analysis of the basic causes and the contributing factors making the initiation of formal proceedings necessary, and may make recommendations for remedial legislation. For this purpose the commissioner may appoint a special assistant qualified in insurance, finance, and accounting to conduct the study and prepare the analysis, and may determine the special assistant’s compensation, which shall be paid from the appropriation under s. 20.145

(g)1.

(b)Final study. The commissioner may include in his or her annual report, not later than the 2nd annual report following discharge of the receiver, a detailed study of the delinquency proceeding for each insurer subjected to a formal proceeding, with an analysis of the problems faced and their solutions. The commissioner may also suggest alternative solutions, as well as other material of interest, for the purpose of assisting and guiding liquidators or rehabilitators in the future. For this purpose the commissioner may appoint a special assistant qualified to conduct the study and prepare the analysis, and may determine his or her compensation, which shall be paid from the appropriation under s. 20.145

(g)1.

(3)Reports on insurers subject to proceedings. The commissioner as receiver shall make and file annual reports and any other required reports for the companies proceeded against under ss. 645.31 , 645.41 , 645.45 , 645.81 , 645.82 and 645.84 in the manner and form and within the time required by law of insurers authorized to do business in this state, and under the same penalties for failure to do so.