612.14 Reports. - Wisconsin Statutes

612.14

612.14 Reports. The secretary and the treasurer shall present to the annual meeting written reports showing the condition of the town mutual on the previous December 31 and its activity during the preceding calendar year, including:

612.14(1)

(1) The number of policies issued and in force by line of insurance;

612.14(2)

(2) The aggregate amount insured by line of insurance;

612.14(3)

(3) The amount of cash and other assets on hand;

612.14(4)

(4) The amount received during the year from premiums, and the reserve for unearned premiums;

612.14(5)

(5) The amounts received from each separate assessment;

612.14(6)

(6) The amounts assessed but not collected;

612.14(7)

(7) The amounts received from other sources;

612.14(8)

(8) The amounts paid for losses;

612.14(9)

(9) A detailed list of every item of expense, except that the report may summarize the expenses, if they are audited by a committee of members or by an independent person in a manner approved by the commissioner;

612.14(10)

(10) The amount of losses incurred but not paid;

612.14(11)

(11) Any other outstanding liabilities, including debit balances with spread loss organizations or other reinsurers; and

612.14(12)

(12) Any other information required to be presented by the articles or bylaws or by the commissioner.

612.14 - ANNOT.

History: 1973 c. 22.