§ 618.01 — Purposes.

Wisconsin § 618.01

• Jurisdiction: Wisconsin
• Ch. 618: Nondomestic insurers
• Subch.: subch. I of ch. 618 SUBCHAPTER I

Text

618.01 The purposes of this chapter are:
618.01(1) (1) To protect insureds, creditors and the public in this state by providing adequate standards and an orderly procedure for the authorization of nondomestic insurers;
618.01(2) (2) To prevent evasion by unauthorized insurers of the regulatory and tax laws of this state and to protect this state and its residents against loss from such action;
618.01(3) (3) To subject unauthorized insurers and other persons doing an insurance business in this state to the jurisdiction of the commissioner and the courts of this state;
618.01(4) (4) To protect authorized insurers from unfair competition by unauthorized insurers; and
618.01(5) (5) To provide an orderly method, under reasonable and practical safeguards, for procuring insurance from unauthorized insurers.

Legislative History

618.01 History History: 1971 c. 260 .