SB756,24,19 (a) A record communicated by the apparent owner to the holder or the holder's agent concerning the property or the account in which the property is held.

SB756,24,23 (b) An oral communication by the apparent owner to the holder or agent of the holder concerning the property or the account in which the property is held, if the holder or the holder's agent contemporaneously makes and preserves a record of the fact of the apparent owner's communication.

SB756,25,2 (c) Presentment of a check or other instrument of payment of a dividend, interest, or other distribution, or evidence of receipt of a distribution made by electronic or similar means, with respect to an account, underlying security, or interest in a business association.

SB756,25,6 (d) Activity directed by an apparent owner in the account in which the property is held, including accessing the account or information concerning the account, or a direction by the apparent owner to increase, decrease, or otherwise change the amount or type of property held in the account.

SB756,25,9 (e) A deposit into or withdrawal from an account at a financial organization, including an automatic deposit or withdrawal previously authorized by the apparent owner, other than an automatic reinvestment of dividends or interest.

SB756,25,10 (f) Subject to sub. (5), payment of a premium on an insurance policy.

SB756,25,12 (g) Any other action by the apparent owner that reasonably demonstrates to the holder that the apparent owner knows that the property exists.

SB756,25,15 (3) An action by an agent or other representative of an apparent owner, other than the holder acting as the apparent owner's agent, is presumed to be an action on behalf of the apparent owner.

SB756,25,19 (4) A communication with an apparent owner by a person other than the holder or the holder's representative is not an indication of interest in the property by the apparent owner unless a record of the communication evidences the apparent owner's knowledge of a right to the property.

SB756,25,24 (5) If an insured person dies or the insured or beneficiary of an insurance policy otherwise becomes entitled to the proceeds before depletion of the cash surrender value of the policy by operation of an automatic-premium-loan provision or other nonforfeiture provision contained in the policy, the operation does not prevent the policy from maturing or terminating for purposes of this chapter.

SB756,58 Section 58. 177.0211 of the statutes is created to read:

SB756,26,5 177.0211 Knowledge of death of insured or annuitant. (1) In this section, “death master file” means the federal social security administration death master file or other database or service that is at least as comprehensive as the federal social security administration death master file for determining that a person has reportedly died.

SB756,26,9 (2) With respect to a life or endowment insurance policy or annuity contract for which an amount is owed on proof of death, but which has not matured by proof of death of the insured or annuitant, the insurance company has knowledge of the death of an insured or annuitant when any of the following occurs:

SB756,26,11 (a) The insurance company receives a death certificate or court order determining that the insured or annuitant has died.

SB756,26,15 (b) The insurance company or other person validates the death of the insured or annuitant by its performance of due diligence, as required under ch. 632 or other law, to maintain contact with the insured or annuitant to determine whether the insured or annuitant has died.

SB756,26,19 (c) The insurance company compares for any purpose a death master file with the names of some or all of the company's insureds or annuitants, finds a match that provides notice that the insured or annuitant has died, and the company validates the death.

SB756,26,23 (d) The insurance company receives notice of the death of the insured or annuitant from a beneficiary, policy owner, relative, or trustee, or from the personal or legal representative of the insured's or annuitant's estate and the company validates the death.

SB756,26,25 (3) The following applies to validating the death of the insured or annuitant under this section:

SB756,27,3 (a) A death master file match occurs if the criteria for an exact or partial match is satisfied as provided by a law of this state other than this chapter or by a rule promulgated or policy adopted by the office of the commissioner of insurance.

SB756,27,7 (b) A death master file match does not constitute proof of death for the purpose of submission to an insurance company of a claim by a beneficiary, annuitant, or owner of the policy or contract for an amount due under an insurance policy or annuity contract.

SB756,27,11 (c) The death master file match or validation of the insured's or annuitant's death does not alter the requirements for a beneficiary, annuitant, or owner of the policy or contract to make a claim to receive proceeds under the terms of the policy or contract.

SB756,27,17 (d) If no provision in a law of this state or a rule promulgated or policy adopted by the office of the commissioner of insurance establishes a time for validation of a death of an insured or annuitant, the insurance company shall make a good faith effort using other available records and information to validate the death, and document the effort taken for such validation, not later than 90 days after the insurance company has notice of the death.

SB756,27,23 (4) This chapter does not affect the determination of the extent to which an insurance company before the effective date of this chapter had knowledge of the death of an insured or annuitant or was required to conduct a death master file comparison to determine whether amounts owed by the company on a life or endowment insurance policy or annuity contract were presumed abandoned or unclaimed.

SB756,59 Section 59. 177.0212 of the statutes is created to read:

SB756,28,9 177.0212 Deposit account for proceeds of insurance policy or annuity contract. If proceeds payable under a life or endowment insurance policy or annuity contract are deposited into an account with check or draft writing privileges for the beneficiary of the policy or contract and, under a supplementary contract not involving annuity benefits other than death benefits, the proceeds are retained by the insurance company or the financial organization where the account is held and the policy or contract includes the assets in the account, the assets in the account are subject to the same presumption of abandonment that is applied to the underlying policy or contract.

SB756,60 Section 60. 177.0214 of the statutes is created to read:

SB756,28,13 177.0214 Distributions by certain insurance company activities. (1) Subject to s. 177.0210, property distributable in the course of a demutualization of an insurance company is presumed abandoned.

SB756,28,16 (2) Subject to s. 177.0210, property distributable in the course of the dissolution of the Health Insurance Risk-Sharing Plan under 2013 Wisconsin Act 20, section 9122 (1L), and 2013 Wisconsin Act 116, section 32 (1) (b), is presumed abandoned.

SB756,61 Section 61. 177.03 of the statutes is repealed.