Amendment ASA1-SB246

SB246-ASA1,82,13 (c) A viatical settlement provider license under s. 632.68 (2).

SB246-ASA1,82,14 (d) A viatical settlement broker license under s. 632.68 (4).

SB246-ASA1,82,15 (e) A benefit plan administrator license under s. 633.14.

SB246-ASA1,82,22 (2) Failure to meet deadline. (a) Subject to sub. (4), the commissioner shall refund fees paid by the applicant for a certificate of authority or license specified in sub. (1) if the commissioner fails to provide the applicant with written notice, which may be by electronic mail, that the commissioner has approved or disapproved the application for the certificate of authority or license, including the specific facts upon which any disapproval is based, before the expiration of the period established under sub. (1) for the certificate of authority or license.

SB246-ASA1,83,5 (am) Subject to sub. (4), if the commissioner fails to provide the applicant for a certificate of authority or license specified in sub. (1) with written notice, which may be by electronic mail, that the department has approved or disapproved the application before the expiration of the period established under sub. (1) for the certificate of authority or license, the applicant may choose to proceed under ch. 227 as though the department had disapproved the application by providing the department with written notice of that choice no later than 45 days after the expiration of the period established under sub. (1).

SB246-ASA1,83,8 (b) The commissioner may not disapprove an application for a certificate of authority or license solely because the commissioner is unable to complete the review of the application within the period established under sub. (1).

SB246-ASA1,83,14 (3) Notice of deadline. In the rules under sub. (1), the commissioner shall specify a method for informing applicants of the periods established under sub. (1). The commissioner shall specify the method that it determines is the most cost-effective method available. The department is not required to notify an applicant if the department intends to approve or disapprove the application within 14 days after receiving the application.

SB246-ASA1,83,17 (4) Permitted extension of deadline. The commissioner may extend the period established under sub. (1) because an application is incomplete if all of the following apply:

SB246-ASA1,83,20 (a) Within 15 days after receiving the application, the commissioner provides written notice, which may be by electronic mail, to the applicant describing specifically the information that must be provided to complete the application.

SB246-ASA1,83,23 (b) The information under par. (a) is directly related to eligibility for the certificate of authority or license or to terms or conditions of the certificate of authority or license.

SB246-ASA1,84,3 (c) The information under par. (a) is necessary to determine whether to approve the application or is necessary to determine the terms or conditions of the certificate of authority or license.

SB246-ASA1,84,6 (d) The extension is not longer than the number of days from the day on which the commissioner provides the notice under par. (a) to the day on which the commissioner receives the information.

SB246-ASA1, s. 58 Section 58. 628.093 of the statutes is created to read:

SB246-ASA1,84,9 628.093 Deadline for acting on application. Approval or disapproval of an application for a license under this subchapter is subject to s. 601.58.

SB246-ASA1, s. 59 Section 59. 632.68 (2) (b) (intro.) of the statutes is amended to read:

SB246-ASA1,84,20 632.68 (2) (b) (intro.) A person may apply to the commissioner for a viatical settlement provider license on a form prescribed by the commissioner for that purpose. The application form shall require the applicant to provide the applicant's social security number, if the applicant is a natural person unless the applicant does not have a social security number, or the applicant's federal employer identification number, if the applicant is not a natural person. The fee specified in s. 601.31 (1) (mm) shall accompany the application. After Subject to s. 601.58, after any investigation of the applicant that the commissioner determines is sufficient, the commissioner shall issue a viatical settlement provider license to an applicant that satisfies all of the following:

SB246-ASA1, s. 60 Section 60. 632.68 (4) (b) of the statutes is amended to read:

SB246-ASA1,85,12 632.68 (4) (b) A person may apply to the commissioner for a viatical settlement broker license on a form prescribed by the commissioner for that purpose. The application form shall require the applicant to provide the applicant's social security number, if the applicant is a natural person unless the applicant does not have a social security number, or the applicant's federal employer identification number, if the applicant is not a natural person. The fee specified in s. 601.31 (1) (mr) shall accompany the application. The commissioner may not issue a license under this subsection unless the applicant provides his or her social security number, unless the applicant does not have a social security number, or its federal employer identification number, whichever is applicable. If the applicant is a natural person who does not have a social security number, the commissioner may not issue a license under this subsection unless the applicant provides, on a form prescribed by the department of workforce development, a statement made or subscribed under oath or affirmation that the applicant does not have a social security number. Approval or disapproval of an application for a license under this subsection is subject to s. 601.58.

SB246-ASA1, s. 61 Section 61. 633.14 (1) (intro.) of the statutes is amended to read:

SB246-ASA1,85,15 633.14 (1) (intro.) The Subject to s. 601.58, the commissioner shall issue a license to act as an administrator to an individual who does all of the following:

SB246-ASA1, s. 62 Section 62. 633.14 (2) (intro.) of the statutes is amended to read:

SB246-ASA1,85,19 633.14 (2) (intro.) The Subject to s. 601.58, the commissioner shall issue a license to act as an administrator to a corporation, limited liability company, or partnership that does all of the following:

SB246-ASA1, s. 63 Section 63 . Nonstatutory provisions.

SB246-ASA1,86,2 (1) Submission of rules. The state agencies required to promulgate rules under this act shall submit in proposed form the rules required under this act to the legislative council staff under section 227.15 (1) of the statutes no later than the first day of the 7th month beginning after the effective date of this subsection. The department of regulation and licensing shall submit in proposed form the rules required under section 440.03 (1m) of the statutes, as created by this act, for all credentials, as defined in section 440.01 (2) (a) of the statutes, at one time.

SB246-ASA1, s. 64 Section 64. Initial applicability.

SB246-ASA1,86,5 (1) Except as provided in subsection (2), this act first applies to applications that are received on the effective date of this subsection.

SB246-ASA1,86,9 (2) The treatment of section 196.195 (5m) and (10) of the statutes first applies to proceedings initiated by petitions filed with the public service commission, or by notices made on the public service commission's own motion, on the effective date of this subsection.

SB246-ASA1, s. 65 Section 65. Effective dates. This act takes effect on the first day of the 12th month beginning after publication, except as follows:

SB246-ASA1,86,12 (1) Section 63 of this act takes effect on the day after publication.

SB246-ASA1,86,13 (End)