LRB-1259/1
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1997 - 1998 LEGISLATURE
January 22, 1997 - Introduced by Senators Burke, Jauch, Plache, Risser and
Wirch, cosponsored by Representatives
Bock, Coggs, Cullen, Gronemus, La
Fave, Krug, Notestein, R. Potter, Schneider and R. Young. Referred to
Committee on Insurance, Tourism and Rural Affairs.
SB22,1,2
1An Act to amend 607.02 (2) of the statutes;
relating to: increasing the limit on
2policies issued by the state life insurance fund.
Analysis by the Legislative Reference Bureau
The office of the commissioner of insurance administers the state life insurance
fund (fund). The fund may issue any type of life insurance policy, not exceeding
$10,000, to a state resident. Premiums are paid into the fund, and net profits are
distributed annually among policyholders. The state is not liable for any obligation
of the fund. This bill increases the limit on policies that may be issued by the fund
from $10,000 to $20,000.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB22, s. 1
3Section
1. 607.02 (2) of the statutes is amended to read:
SB22,1,54
607.02
(2) Limits on policies from fund. No policies may be issued on any one
5risk exceeding
$10,000 $20,000 for residents of this state.
