stock agents—one member
mutual agents—one member
consumers and other persons not affiliated in any way with the insurance industry—54 members
SECTION 7.
Ins 4.10 (7) (a) is amended to read:DUTIES OF THE GOVERNING COMMITTEE. (a) The governing committee shall meet as often as may be required to perform the general duties of the administration of the Plan or on the call of the commissioner. EightSix members of the committee present or by proxy shall constitute a quorum. Members of the committee who choose to appoint a proxy shall give a written proxy to the person elected to act as proxy. The written proxy shall then be filed with the governing committee, thus ensuring the validity of the proxy's actions as the governing committee performs its duties.
SECTION 8.
Ins 4.10 (8) (c) is amended to read:(c) The time and place of all meetings shall be reasonable. Twenty days' notice of an annual or special meeting shall be given in writing by the governing committee to all insurers as defined by sub. (3) (d). EightSix members present in person or by proxy shall constitute a quorum. Voting by proxy shall be permitted.
SECTION 9.
INITIAL APPLICABILITY. This rule first applies to contracts issued on January 1, 2020.SECTION 10.
EFFECTIVE DATE. These changes will take effect on the first day of the month after publication, as provided in s. 227.22(2)(intro.), Stats.Dated at Madison, Wisconsin, this day of , 2020.
________________________
Nathan D. Houdek
Deputy Commissioner of Insurance
Office of the Commissioner of Insurance
Private Sector Fiscal Analysis
for Section Ins 4.10 relating to the Wisconsin Insurance Plan ("WIP") This rule change will have no significant effect on the private sector regulated by OCI.
