Ins 6.41(5)(a)(a) Exemption of certain securities from s. 611.31 (4) (c), Stats. Any security shall be exempt from the operation of s. 611.31 (4) (c), Stats., to the extent necessary to render lawful under such section the execution by a broker of an order for an account in which he or she has no direct or indirect interest. Ins 6.41(5)(b)(b) Exemption from s. 611.31 (4) (c), Stats., of certain transactions effected in connection with a distribution. Any security shall be exempt from the operation of s. 611.31 (4) (c), Stats., to the extent necessary to render lawful under such section any sale made by or on behalf of a dealer in connection with a distribution of a substantial block of securities, upon the following conditions: Ins 6.41(5)(b)1.1. The sale is represented by an over-allotment in which the dealer is participating as a member of an underwriting group, or the dealer or a person acting on his or her behalf intends in good faith to offset such sale with a security to be acquired by or on behalf of the dealer as a participant in an underwriting, selling or soliciting-dealer group of which the dealer is a member at the time of the sale, whether or not the security to be so acquired is subject to a prior offering to existing security holders or some other class of persons; and Ins 6.41(5)(b)2.2. Other persons not within the purview of s. 611.31 (4) (c), Stats., are participating in the distribution of such block of securities on terms at least as favorable as those on which such dealer is participating and to an extent at least equal to the aggregate participation of all persons exempted from the provisions of s. 611.31 (4) (c), Stats., by this par. (b). However, the performance of the functions of manager of a distributing group and the receipt of a bona fide payment for performing such functions shall not preclude an exemption which would otherwise be available under this par. (b). Ins 6.41(5)(c)(c) Exemption from s. 611.31 (4) (c), Stats., of sales of securities to be acquired. Ins 6.41(5)(c)1.1. Whenever any person is entitled, as an incident to ownership of an issued security and without the payment of consideration, to receive another security “when issued” or “when distributed,” the security to be acquired shall be exempt from the operation of s. 611.31 (4) (c), Stats., provided that: Ins 6.41(5)(c)1.a.a. The sale is made subject to the same conditions as those attaching to the right of acquisition, and Ins 6.41(5)(c)1.b.b. Such person exercises reasonable diligence to deliver such security to the purchaser promptly after the right of acquisition matures, and Ins 6.41(5)(c)2.2. This par. (c) shall not be construed as exempting transactions involving both a sale of a security “when issued” or “when distributed” and a sale of the security by virtue of which the seller expects to receive the “when-issued” or “when-distributed” security, if the 2 transactions combined result in a sale of more units than the aggregate of those owned by the seller plus those to be received by him or her pursuant to the right of acquisition. Ins 6.41(6)(6) Regulation under s. 611.31 (4) (e), Stats. Ins 6.41(6)(a)(a) Arbitrage transactions under s. 611.31 (4) (e), Stats. It shall be unlawful for any director or officer of an insurer to effect any foreign or domestic arbitrage transaction in any equity security of such insurer, unless he or she shall include such transaction in the statements required by s. 611.31 (4) (a), Stats., and shall account to such insurer for the profits arising from such transaction, as provided in s. 611.31 (4) (b), Stats. The provision of s. 611.31 (4) (c), Stats., shall not apply to such arbitrage transactions. The provisions of s. 611.31, Stats., shall not apply to any bona fide foreign or domestic arbitrage insofar as it is effected by any person other than such director or officer of the insurer. Ins 6.41 NoteNote: Copies of UNITED STATES CODE, title 26, Internal Revenue Code of 1954 as amended to date of adoption of the above section sections 368(c), 422, 423 and 424(b), are available for inspection at the office of the Insurance Department, the Secretary of State, and the Legislative Reference Bureau, or the code may be procured for personal use from the U.S. Government Printing Office, Washington, D. C.
Ins 6.41 HistoryHistory: Cr. Register, August, 1966, No. 128, eff. 9-1-66; am. Register, December, 1977, No. 264, eff. 1-1-78; am. (1) (d) 2., Register, March, 1979, No. 279, eff. 4-1-79; corrections made under s. 13.93 (2m) (b) 5., Stats., Register, April, 1992, No. 436; correction in (3) (b) made under s. 13.93 (2m) (b) 7., Stats., Register, January, 1999, No. 517; correction in (3) (i) (title) made under s. 13.92 (4) (b) 2., Stats., Register, January, 2012 No. 673. Ins 6.42Ins 6.42 Initial statement of beneficial ownership of securities. Ins 6.42(1)(1) Persons required to file statements. A statement on Form 3 (shown at the end of this rule) of initial statement of beneficial ownership of securities is required to be filed by every person who is directly or indirectly the beneficial owner of more than 10% of any class of any equity security of a domestic stock insurance company, or who is a director or an officer of such a company. Ins 6.42(2)(a)(a) Beginning September 1, 1966, persons who hold any of the relationships specified in sub. (1) are required to file a statement within 10 days after assuming such relationship. Statements are not deemed to have been filed with the commissioner until they have actually been received by him or her. Ins 6.42(2)(b)(b) Persons who held any of the relationships specified in sub. (1) as of January 31, 1966, or who assumed such relationship(s) during the period of January 31, 1966 through August 31, 1966, are required to file such initial statement of beneficial ownership of securities by September 10, 1966. Ins 6.42(3)(3) Where statements are to be filed. One signed copy of each statement shall be filed with the commissioner of insurance, P.O. Box 7873, Madison, Wisconsin 53707-7873. Ins 6.42(4)(4) Separate statement for each company. A separate statement shall be filed with respect to the securities of each company. Ins 6.42(5)(5) Relation of reporting person to company. Indicate clearly the relationship of the reporting person to the company; for example, “Director”, “Director and Vice President”, “Beneficial owner of more than 10% of the company’s stock”, etc. Ins 6.42(6)(6) Date as of which beneficial ownership is to be given. The information as to beneficial ownership of securities shall be given as of January 31, 1966, or, in the case of persons who subsequently assume any of the relationships specified in sub. (1), as of the date that relationship was assumed. Ins 6.42(7)(7) Title of security. The statement of the title of a security shall be such as clearly to identify the security even though there may be only one class; for example, “Class A Common Stock”. Ins 6.42(8)(8) Nature of ownership. Under “Nature of ownership”, state whether ownership of the securities is “direct” or “indirect”. If the ownership is indirect, i.e., through a partnership, corporation, trust or other entity, indicate, in a footnote or other appropriate manner, the name or identity of the medium through which the securities are indirectly owned. The fact that securities are held in the name of a broker or other nominee does not, of itself, constitute indirect ownership. Securities owned indirectly shall be reported on separate lines from those owned directly and also from those owned through a different type of indirect ownership. Ins 6.42(9)(9) Statement of amount owned. In stating the amount of securities beneficially owned, give the face amount of debt securities or the number of shares or other units of other securities. In the case of securities owned indirectly, the entire amount of securities owned by the partnership, corporation, trust or other entity shall be stated. The person whose ownership is reported may, if he or she so desires, also indicate in a footnote, or other appropriate manner, the extent of his or her interest in the partnership, corporation, trust or other entity. Ins 6.42(10)(10) Inclusion of additional information. A statement may include any additional information or explanation deemed relevant by the person filing the statement. Ins 6.42(11)(11) Signature. If the statement is filed for a corporation, partnership, trust, etc., the name of the organization shall appear over the signature of the officer or other person authorized to sign the statement. If the statement is filed for an individual, it shall be signed by him or her or specifically on his or her behalf by a person authorized to sign for him or her. Ins 6.42 HistoryHistory: Cr. Register, August, 1966, No. 128, eff. 9-1-66; am. Register, September, 1976, No. 249, eff. 10-1-76; corrections made under s. 13.93 (2m) (b) 5., Stats., Register, April, 1992, No. 436. ________________________________________________
State of Wisconsin
Commissioner of Insurance
Form 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
(Filed pursuant to Wisconsin Administrative Code section Ins 6.42)
(Name of insurance company)
(Name of person whose ownership is reported)
(Business address of such person; street, city, state, zip code)
Relationship of such person to company named above. (See s. Ins 6.42 (5))
Date of event which requires the filing of this statement. (See s. Ins 6.42 (6))
Securities Beneficially Owned Remarks: (See s. Ins 6.42 (10))
I affirm under penalty of perjury that the foregoing is full, true, and correct. Date of statement
Signature
Ins 6.43Ins 6.43 Statement of changes in beneficial ownership of securities. Ins 6.43(1)(1) Persons required to file statements. Statements on Form 4 (shown at the end of this rule) of changes in beneficial ownership of securities are required to be filed by every person who at any time during any calendar month was directly or indirectly the beneficial owner of more than 10% of any class of equity security of a domestic stock insurance company, or by a director or officer of the company which is the issuer of such securities, and who during such month had any change in his or her beneficial ownership of any class of equity security of such company. Ins 6.43(2)(a)(a) Beginning September 1, 1966, statements are required to be filed on or before the 10th day after the end of each month in which any change in beneficial ownership has occurred. Statements are not deemed to have been filed with the commissioner until they have actually been received by him or her. Ins 6.43(2)(b)(b) Statements for each month for the period January 31, 1966, through August 31, 1966, in which any changes in beneficial ownership have occurred shall be filed by September 10, 1966. Ins 6.43(3)(3) Where statements are to be filed. One signed copy of each statement shall be filed with the commissioner of insurance, P.O. Box 7873, Madison, Wisconsin 53707-7873. Ins 6.43(4)(4) Separate statements for each company. A separate statement shall be filed with respect to the securities of each company. Ins 6.43(5)(5) Relationship of reporting person to company. Indicate clearly the relationship of the reporting person to the company; for example, “Director”, “Director and Vice President”, “Beneficial owner of more than 10% of the company’s common stock”, etc. Ins 6.43(6)(6) Transactions and holdings to be reported. Every transaction shall be reported even though purchases and sales during the month are equal or the change involves only the nature of ownership; for example, from direct to indirect ownership. Beneficial ownership at the end of the month of all classes of securities required to be reported shall be shown even though there has been no change during the month in the ownership of securities of one or more classes. Ins 6.43(7)(7) Title of security. The statement of the title of the security shall be such as clearly to identify the security even though there may be only one class; for example, “Class A Common Stock”. Ins 6.43(8)(8) Date of transaction. The exact date (month, day and year) of each transaction shall be stated opposite the amount involved in the transaction. Ins 6.43(9)(9) Statement of amounts of securities. In stating the amount of the securities acquired, disposed of, or beneficially owned, give the face amount of debt securities or the number of shares or other units of other securities. In the case of securities owned indirectly, i.e., through a partnership, corporation, trust or other entity, the entire amount of securities involved in the transaction or owned by the partnership, corporation, trust or other entity shall be stated. The person whose ownership is reported may, if he or she so desires, also indicate in a footnote, or other appropriate manner, the extent of his or her interest in the transaction or holdings of the partnership, corporation, trust or other entity. Ins 6.43(10)(10) Nature of ownership. Under “Nature of ownership”, state whether ownership of the securities is “direct” or “indirect”. If the ownership is indirect, i.e., through a partnership, corporation, trust or other entity, indicate in a footnote, or other appropriate manner, the name or identity of the medium through which the securities are indirectly owned. The fact that securities are held in the name of a broker or other nominee does not, of itself, constitute indirect ownership. Securities owned indirectly shall be reported on separate lines from those owned directly and from those owned through a different type of indirect ownership. Ins 6.43(11)(11) Character of transaction. If the transaction was with the issuer of the securities, so state. If it involved the purchase of securities through the exercise of options, so state and give the exercise price per share. If any other purchase or sale was effected otherwise than in the open market, that fact shall be indicated. If the transaction was not a purchase or sale, indicate its character; for example, gift, 5% stock dividend, etc., as the case may be. The foregoing information may be appropriately set forth in the table or under “Remarks” at the end of the table. Ins 6.43(12)(12) Inclusion of additional information. A statement may include any additional information or explanation deemed relevant by the person filing the statement. Ins 6.43(13)(13) Signature. If the statement is filed for a corporation, partnership, trust, etc., the name of the organization shall appear over the signature of the officer or other person authorized to sign the statement. If the statement is filed for an individual, it shall be signed by him or her or specifically on his or her behalf by a person authorized to sign for him or her. ___________________________________________________
State of Wisconsin
Commissioner of Insurance
Form 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
(Filed pursuant to Wisconsin Administrative Code section Ins 6.43)
(Name of insurance company)
(Name of person whose ownership is reported)
(Business address of such person; street, city, state, zip code)
Relationship of such person to company named above. (See s. Ins 6.43 (5))
Statement of Calendar Month of , 2
Changes During Month and Month-End Ownership (See s. Ins 6.43 (6)) Remarks: (See s. Ins 6.43 (11))
I affirm under penalty of perjury that the foregoing is full, true, and correct. Date of statement
Signature
Ins 6.50Ins 6.50 Kinds of individual intermediary or agent licenses. Ins 6.50(1)(1) Purpose. This rule sets forth the kinds of individual intermediary-agents, reinsurance intermediary and managing general agent licenses which may be issued. Ins 6.50(2)(2) Lines of licenses. The following individual licenses may be issued, each authorizing the solicitation of the line of insurance or the function indicated: Ins 6.50(2)(a)1.1. Life insurance — insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income. Ins 6.50(2)(a)2.2. Accident and health insurance — insurance coverage for sickness, bodily injury or accidental death and may include benefits for disability income. Ins 6.50(2)(a)3.3. Property insurance — insurance coverage for the direct or consequential loss or damage to property of every kind. Ins 6.50(2)(a)4.4. Casualty insurance — insurance coverage against legal liability, including that for death, injury or disability or damage to real or personal property. Ins 6.50(2)(a)5.5. Personal lines insurance — property and casualty insurance coverage sold to individuals and families for primarily noncommercial purposes. Ins 6.50(2)(a)6.6. Variable life and variable annuity products — insurance coverage provided under variable life insurance contracts and variable annuities. Ins 6.50(2)(b)1.1. Credit insurance — credit life, credit disability, credit property, credit unemployment, involuntary unemployment, mortgage life, mortgage guaranty, mortgage disability, guaranteed automobile protection (gap) insurance, and any other form of insurance offered in connection with an extension of credit that is limited to partially or wholly extinguishing that credit obligation that the insurance commissioner determines should be designated a form of limited line credit insurance. Ins 6.50(2)(b)3.3. Legal expense insurance — insurance that covers only legal expenses incurred by or provided to an individual or business Ins 6.50(2)(b)4.4. Miscellaneous Limited Line insurance — insurance for an insurer authorized to do business in Wisconsin which is permitted as a limited line of insurance in a Wisconsin nonresident intermediary’s home state and is not described in this section shall have the same scope of authority as granted under the limited license issued by the producer’s resident state which shall be briefly described on the license issued. Ins 6.50 NoteNote: All intermediaries holding the limited line automobile authority on the effective date of this rule and all intermediaries holding the limited line town mutual non-property insurance on May 1, 1991 are grandfathered for these authorities.
Ins 6.50(2)(b)5.5. Travel insurance — insurance coverage for trip cancellation, trip interruption, baggage, life, sickness and accident, disability and personal effects when limited to a specific trip and sold in connection with transportation provided by a common carrier. Ins 6.50(2)(b)6.6. Crop — Insurance providing protection against damage to crops from unfavorable weather conditions, fire or lightning, flood, hail, insect infestation, disease or other yield-reducing conditions or perils provided by the private insurance market, or that is subsidized by the Federal Crop Insurance Corporation, including Multi-Peril Crop Insurance. Ins 6.50(2)(b)7.7. Surety — Insurance or bond that covers obligations to pay the debts of, or answer for the default of another, including faithlessness in a position of public or private trust. Ins 6.50(3)(3) Other Licenses issued to individuals are: Ins 6.50 HistoryHistory: Cr. Register, December, 1967, No. 144, eff. 1-1-68; r. and recr. (3) (d), Register, November, 1971, No. 191, eff. 12-1-71: am. (2) (e), Register, February, 1973, No. 206, eff. 3-1-73; am. (2) (h), Register, September, 1973, No. 213, eff. 10-1-73: cr. (2) (o), Register, May, 1975, No. 233, eff. 6-1-75; emerg. am. (1), (2), (3) (a) and (c), eff. 6-22-76; am. (1), (2), (3) (a) and (c), Register, September, 1976, No. 249, eff. 10-1-76; r. and recr., Register, August, 1977, No. 260, eff. 9-1-77; r. (2) (f), Register, October, l981, No. 310, eff. 11-1-81; r. (2) (i), Register, July, 1991, No. 427, eff. 8-1-91; emerg. am. (1) and (2) (intro.), cr. (2) (i) to (k), eff. 3-12-93; emerg. am. (2) (b) and (e), eff. 7-1-93; am. (1) and (2) (intro.), (b) and (e), cr. (2) (i) to (k), Register, July, 1993, No. 451, eff. 8-1-93; CR 01-074: r. and recr. (2), Register January 2002 No. 553, eff. 2-1-02; CR 07-096: cr. (2) (b) 5. Register March 2008 No. 627, eff. 4-1-08; CR 09-022: cr. (2) (a) 6., (b) 6. and 7. Register August 2009 No. 644, eff. 9-1-09; correction to numbering of (2) (b) 6. and 7. made under s. 13.92 (4) (b) 1., Stats., Register August 2009 No. 644. Ins 6.51Ins 6.51 Group life and disability coverage termination and replacement. Ins 6.51(1)(1) Purpose. This section is intended to promote the fair and equitable treatment of group policyholders, insurers, employees and dependents, and the general public by setting out procedures to be followed when a group life or disability insurance policy is terminated or replaced, and to interpret ss. 632.79 and 632.897, Stats. Ins 6.51(2)(2) Scope. This section shall apply to all group life and group disability policies covering employees or employees and dependents, issued by insurers providing insurance as defined in s. Ins 6.75 (1) (a) or (c) or (2) (c). It shall apply to blanket policies only if they provide 24-hour coverage for both injury and sickness; any blanket policy, covering any type of group, which provides for renewal shall be subject to subs. (4) and (5); any blanket policy covering students of a college or university, regardless of whether it provides for renewal, shall be subject to subs. (6) and (7). Subsection (4) (a) shall apply only to group policies as defined in sub. (3) (c) 2. Subsections (6) and (7) do not apply to excess or stop-loss insurance purchased under s. 120.13 (2) (c), Stats., by a county or school district that self-insures employee health benefits. Ins 6.51(3)(b)(b) “Employee” means an employee of an employer or a member of a union or association or a student of a college or university. Ins 6.51(3)(c)1.1. Means a policy or contract covering employees issued by an insurer to an employer, labor union, association or trust fund or, in the case of a blanket policy, a college or university, or a group type plan, except that;
