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Current as of January 01, 2022 | Updated by FindLaw Staff
Any insurer writing surety or fidelity insurance may contract for indemnity or security for any suretyship or fidelity obligation incurred by it; and any fiduciary from whom such an obligation is required or permitted by law may deposit any money and other property which the fiduciary has the power to make available for the indemnity or security with a responsible financial institution as depository in a manner that prevents the withdrawal or alienation thereof without the written consent of the surety or an order of a court or judge thereof having jurisdiction of the fiduciary, made on such notice to the surety as the court or judge may direct. The commissioner shall take the existence of a systematic practice of making such arrangements into account in assessing the financial condition of the insurer and its underwriting capacity and limits.
Cite this article: FindLaw.com - Wisconsin Statutes Insurance (Ch. 600 to 655) § 627.15. Indemnity agreements for surety corporation - last updated January 01, 2022 | https://codes.findlaw.com/wi/insurance-ch-600-to-655/wi-st-627-15/
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 or via Westlaw before relying on it for your legal needs.
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