SB436, s. 470
13Section
470. 632.43 (4) of the statutes is renumbered 632.43 (4) (a) (intro.) and
14amended to read:
SB436,187,2015
632.43
(4) (a) (intro.) Except as provided in sub. (5) (b), the adjusted premiums
16for any policy shall be calculated on an annual basis and shall be such uniform
17percentage of the respective premiums specified in the policy for each policy year,
18excluding any extra premiums charged because of impairments or special hazards,
19that the present value, at the date of issue of the policy, of all adjusted premiums shall
20be equal to the sum of
(a) the all of the following:
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211. The then present value of the future guaranteed benefits provided for by the
22policy
; (b)2 per cent.
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12. Two percent of the amount of insurance, if the insurance is uniform in
2amount, or of the equivalent uniform amount, as defined in sub. (5), if the amount
3of insurance varies with duration of the policy
; (c) 40 per cent.
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43. Forty percent of the adjusted premium for the first policy year
; (d) 25 per
5cent.
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64. Twenty-five percent of either the adjusted premium for the first policy year
7or the adjusted premium for a whole life policy of the same uniform or equivalent
8uniform amount with uniform premiums for the whole of life issued at the same age
9for the same amount of insurance, whichever is less
; provided, that in.
SB436,188,14
10(b) In applying the percentages specified in
(c) par. (a) 3. and
(d) 4., no adjusted
11premium shall be
deemed considered to exceed 4
per cent % of the amount of
12insurance or uniform amount equivalent thereto. The date of issue of a policy for the
13purpose of this subsection and sub. (5) shall be the date as of which the rated age of
14the insured is determined.
Note: Subdivides provision and inserts the per cent symbol consistent with current
style.
SB436, s. 471
15Section
471. 632.43 (5) (b) of the statutes is amended to read:
SB436,189,316
632.43
(5) (b) The adjusted premiums for any policy providing term insurance
17benefits by rider or supplemental policy provision shall be equal to: A) the adjusted
18premiums for an otherwise similar policy issued at the same age without such term
19insurance benefits, increased, during the period for which premiums for such term
20insurance benefits are payable, by B) the adjusted premiums for such term
21insurance, the foregoing items A) and B) being calculated separately and as specified
22in par. (a) and sub. (4) except that, for the purposes of
(b), (c) and (d) in sub. (4)
(a)
232., 3. and 4., the amount of insurance or equivalent uniform amount of insurance
1used in the calculation of the adjusted premiums referred to in B) shall be equal to
2the excess of the corresponding amount determined for the entire policy over the
3amount used in the calculation of the adjusted premiums in A).
Note: Amends cross-references consistent with the previous section of this bill.
SB436, s. 472
4Section
472. 632.895 (1) (b) 5. a. of the statutes is amended to read:
SB436,189,55
632.895
(1) (b) 5. a. A registered
dietician dietitian.
Note: Corrects spelling.
SB436, s. 473
6Section
473. 645.22 (1) of the statutes is renumbered 645.22 (1) (intro.) and
7amended to read:
SB436,189,148
645.22
(1) (intro.)
Upon the filing by the commissioner in any circuit court in
9this state of a verified petition alleging any ground that would justify a court order
10for a formal delinquency proceeding against an insurer under this chapter and that
11the interests of policyholders, creditors or the public will be endangered by delay, and
12setting out the order
deemed considered necessary by the commissioner, the court
13shall issue forthwith, ex parte and without a hearing, the requested order
, which may
14do any of the following:
SB436,189,17
15(a)
direct Direct the commissioner to take possession and control of all or a part
16of the property, books, accounts, documents and other records of an insurer and of
17the premises occupied by it for the transaction of its business, and
.
SB436,189,20
18(b)
until Until further order of the court, enjoin the insurer and its officers,
19managers, agents, and employes from disposition of its property and from
20transaction of its business except with the written consent of the commissioner.
Note: Subdivides provision for greater conformity with current style.
SB436, s. 474
21Section
474. 645.47 (1) (b) of the statutes is renumbered 645.47 (1) (b) (intro.)
22and amended to read:
SB436,190,5
1645.47
(1) (b) (intro.)
Notice to agents shall inform them of their duties under
2s. 645.48 and inform them
of what information they must communicate to insureds.
3Notice to policyholders shall include notice of impairment and termination of
4coverage under s. 645.43. When it is applicable, notice to policyholders shall include
5all of the following:
SB436,190,76
1
) notice. Notice of withdrawal of the insurer from the defense of any case in
7which the insured is interested
,.
SB436,190,88
2
) notice. Notice of the right to file a claim under s. 645.64 (2)
, and.
SB436,190,109
3
) information. Information about the existence of a security fund under ch.
10646.
Note: Subdivides provision for greater readability and consistency with current
style.
SB436, s. 475
11Section
475. 645.54 (1) (b) of the statutes is renumbered 645.54 (1) (b) 1.
12(intro.) and amended to read:
SB436,190,1413
645.54
(1) (b) 1. (intro.)
Any preference may be avoided by the liquidator, if
1) 14any of the
following conditions is met:
SB436,190,15
15a. The insurer was insolvent at the time of the transfer
, or 2) the.
SB436,190,17
16b. The transfer was made within 4 months before the filing of the petition
, or
173) the.
SB436,190,21
18c. The creditor receiving
it the preference or to be benefited thereby or his or
19her agent acting with reference thereto had reasonable cause to believe at the time
20when the transfer was made that the insurer was insolvent or was about to become
21insolvent
, or 4) the.
SB436,191,4
22d. The creditor receiving
it the preference was an officer, employe, attorney or
23other person who was in fact in a position of comparable influence in the insurer to
1an officer whether or not he or she held such position, or any shareholder holding
2directly or indirectly more than 5% of any class of any equity security issued by the
3insurer, or any other person with whom the insurer did not deal at arm's length.
4Where the
SB436,191,13
52. If a preference is voidable, the liquidator may recover the property or, if
it the
6property has been converted,
the liquidator may recover its value from any person
7who has received or converted the property, except a bona fide purchaser from or
8lienor of the debtor's transferee for a present fair equivalent value.
Where If the bona
9fide purchaser or lienor has given less than fair equivalent value, he or she shall have
10a lien upon the property to the extent of the consideration actually given by him or
11her.
Where If a preference by way of lien or security title is voidable, the court may
12on due notice order the lien or title to be preserved for the benefit of the estate, in
13which event the lien or title shall pass to the liquidator.
Note: Subdivides provision and replaces language for greater readability and
conformity with current style.
SB436, s. 476
14Section
476. 645.64 (3) of the statutes is renumbered 645.64 (3) (a) and
15amended to read:
SB436,192,316
645.64
(3) (a) The liquidator shall make recommendations to the court under
17s. 645.71 for the allowance of an insured's claim under sub. (2) after consideration
18of the probable outcome of any pending action against the insured on which the claim
19is based, the probable damages recoverable in the action and the probable costs and
20expenses of defense. After allowance by the court, the liquidator shall withhold any
21dividends payable on the claim, pending the outcome of litigation and negotiation
22with the insured. Whenever it seems appropriate, the liquidator shall reconsider the
23claim on the basis of additional information and amend the recommendations to the
1court. The insured shall be afforded the same notice and opportunity to be heard on
2all changes in the recommendation as in its initial determination. The court may
3amend its allowance as it thinks appropriate.
SB436,192,6
4(b) As claims against the insured are settled or barred, the insured shall be paid
5from the amount withheld the same percentage dividend as was paid on other claims
6of like priority, based on the lesser of
a) the
following:
SB436,192,8
71. The amount actually recovered from the insured by action or paid by
8agreement plus the reasonable costs and expenses of defense
, or b) the.
SB436,192,9
92. The amount allowed on the claims by the court.
SB436,192,13
10(c) After all claims are settled or barred, any sum remaining from the amount
11withheld shall revert to the undistributed assets of the insurer. Delay in final
12payment under this subsection shall not be a reason for unreasonable delay of final
13distribution and discharge of the liquidator.
Note: Subdivides provision for greater readability and conformity with current
style.
SB436, s. 477
14Section
477. 645.81 (1) (e) of the statutes is amended to read:
SB436,192,1715
645.81
(1) (e) That
1) its certificate of authority to do business in this state has
16been revoked or that none was ever issued, and
2)
that there are residents of this
17state with outstanding claims or outstanding policies.
Note: Deletes improper subdivision designations.
SB436, s. 478
18Section
478. 703.15 (2) (c) of the statutes is renumbered 703.15 (2) (c) 1. (intro.)
19and amended to read:
SB436,193,220
703.15
(2) (c) 1. (intro.)
Except as provided in par. (d), a declarant may
21authorize the declarant or persons designated by him or her to appoint and remove
22the officers of the association or to exercise the powers and responsibilities otherwise
23assigned by the declaration or this chapter to the association or its officers. A
1declaration may not authorize any declarant control of the association for a period
2exceeding the earlier of
1) 10: any of the following:
SB436,193,3
3a. Ten years in the case of an expandable condominium
; 2) 3.
SB436,193,4
4b. Three years in the case of any other condominium
; or 3) 30.
SB436,193,6
5c. Thirty days after the conveyance of 75% of the common element interest to
6purchasers.
SB436,193,10
72. The period of declarant control begins on the date that the first condominium
8unit is conveyed by a declarant to any person other than the declarant. If there is
9any other unit owner other than a declarant, a declaration may not be amended to
10increase the scope
nor or the period of the declarant control.
Note: Subdivides provision for greater conformity with current style.
SB436, s. 479
11Section
479. 703.15 (3) (b) 4. of the statutes is amended by replacing
12"incumber" with "encumber".
Note: Inserts preferred spelling.
SB436, s. 480
13Section
480. 704.19 (2) of the statutes is renumbered 704.19 (2) (a) (intro.) and
14amended to read:
SB436,193,1815
704.19
(2) (a) (intro.)
Such A periodic tenancy or a tenancy
at will can be
16terminated by either the landlord or the tenant only by giving to the other party
17written notice complying with this section, unless
a) the any of the following
18conditions is met:
SB436,193,21
191. The parties have agreed expressly upon another method of termination and
20such the parties' agreement is established by clear and convincing proof
, b)
21termination.
SB436,193,22
222. Termination has been effected by a surrender of the premises
, or c) sub.
SB436,193,23
233. Subsection (6) applies.
SB436,194,6
1(b) A periodic tenancy can be terminated by notice under this section only at
2the end of a rental period
; in. In the case of a tenancy from year-to-year the end of
3the rental period is the end of the rental year even though rent is payable on a more
4frequent basis. Nothing in this section prevents termination of a tenancy for
5nonpayment of rent or breach of any other condition of the tenancy, as provided in
6s. 704.17.
Note: Subdivides provision and replaces language for greater readability and
conformity with current style.
SB436, s. 481
7Section
481. 707.37 (4) (d) of the statutes is amended by replacing "144.47 (6)
8(d)" with "144.77 (6) (d)".
Note: Corrects cross-reference inserted by
1993 Wis. Act 453. There is no s. 144.47
(6) (d).
SB436, s. 482
9Section
482. 753.06 (1) (a) of the statutes is amended to read:
SB436,194,1110
753.06
(1) (a) Milwaukee
county County. The circuit has
45 branches.
11Commencing August 1, 1994, the circuit has 46 branches.
Note: Deletes obsolete transition provision.
SB436, s. 483
12Section
483. 753.06 (2) (a) of the statutes is amended to read:
SB436,194,1413
753.06
(2) (a) Kenosha
county County. The circuit has
6 branches.
14Commencing August 1, 1994, the circuit has 7 branches.
Note: Deletes obsolete transition provision.
SB436, s. 484
15Section
484. 753.06 (2) (b) of the statutes is amended to read:
SB436,194,1716
753.06
(2) (b) Racine
county County. The circuit has
9 branches. Commencing
17August 1, 1994, the circuit has 10 branches.
Note: Deletes obsolete transition provision.
SB436, s. 485
18Section
485. 753.06 (4) (d) of the statutes is amended to read:
SB436,194,2019
753.06
(4) (d) Sheboygan
county County. The circuit has
4 branches.
20Commencing August 1, 1994, the circuit has 5 branches.
Note: Deletes obsolete transition provision.
SB436, s. 486
1Section
486. 753.06 (5) (a) of the statutes is amended to read:
SB436,195,32
753.06
(5) (a) Dane
county County. The circuit has
16 branches. Commencing
3August 1, 1994, the circuit has 17 branches.
Note: Deletes obsolete transition provision.
SB436, s. 487
4Section
487. 753.06 (6) (g) of the statutes is amended to read:
SB436,195,65
753.06
(6) (g) Portage
county County. The circuit has
2 branches. Commencing
6August 1, 1994, the circuit has 3 branches.
Note: Deletes obsolete transition provision.
SB436, s. 488
7Section
488. 753.06 (8) (b) of the statutes is amended to read:
SB436,195,98
753.06
(8) (b) Door
county County. The circuit has
one branch. Commencing
9August 1, 1994, the circuit has 2 branches.
Note: Deletes obsolete transition provision.
SB436, s. 489
10Section
489. 753.06 (8) (f) of the statutes is amended to read:
SB436,195,1211
753.06
(8) (f) Outagamie
county County. The circuit has
6 branches.
12Commencing August 1, 1994, the circuit has 7 branches.
Note: Deletes obsolete transition provision.
SB436, s. 490
13Section
490. 753.06 (10) (g) of the statutes is amended to read:
SB436,195,1514
753.06
(10) (g) Eau Claire
county
County. The circuit has
4 branches.
15Commencing August 1, 1994, the circuit has 5 branches.
Note: Deletes obsolete transition provision.
SB436, s. 491
16Section
491. 753.06 (10) (k) of the statutes is amended to read: