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Current as of January 01, 2025 | Updated by Findlaw Staff
(1) If the moneys credited to s. 20.145(1)(g)1. under other sections of the statutes prove inadequate for the office's supervision of insurance industry program, the commissioner may increase any or all of the fees imposed by s. 601.31, or may in any year levy a special assessment on all domestic insurers, or both, for the general operation of that program.
(2) Any special assessment shall be in addition to all other taxes, fees, dues and charges and shall not exceed for any such company a maximum of 25 cents per $1,000 of gross premiums received by it during the preceding calendar year on direct insurance in this state, less returned premiums and cancellations.
(3) Any assessment made by the commissioner which is less than the maximum shall be prorated among said companies in the same proportion as if it were a maximum assessment. Any such assessment shall be paid to the commissioner on or before July 31 of each year.
(4) The commissioner may omit the levy of any assessment which would be smaller than the cost of processing and collecting it.
Cite this article: FindLaw.com - Wisconsin Statutes Insurance (Ch. 600 to 655) § 601.32. Supervision of industry, supplementary fee - last updated January 01, 2025 | https://codes.findlaw.com/wi/insurance-ch-600-to-655/wi-st-601-32/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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