613.20 Alteration of certificate of authority. - Wisconsin Statutes

613.20

613.20 Alteration of certificate of authority.

613.20(1)

(1) Upon application. A service insurance corporation may at any time apply to the commissioner for a new or amended certificate of authority, removing, altering or adding limits on its business or methods of operation. The application shall contain or be accompanied by so much of the information in s. 613.13 (1) as the commissioner requires. The commissioner shall issue the new certificate as requested if the commissioner finds that the:

613.20(1)(a)

(a) Corporation's surplus and providers' contracts are adequate to support the proposed operations under the new certificate; and

613.20(1)(b)

(b) Proposed business would not be contrary to the law or to the interests of insureds or the public.

613.20(2)

(2) By commissioner. If the commissioner issues a summary order under s. 645.21 against a corporation, the commissioner may also revoke the corporation's certificate and issue a new one with such limits as deemed necessary.

613.20 - ANNOT.

History: 1975 c. 223, 421.