604.01 – Scope.

604.01 Scope. This chapter applies to all insurance funds operated by this state under chs. 605 to 607. History: 1973 c. 117; 1981 c. 20 s. 2202 (26) (c).

604.02 – Continuation of funds.

604.02 Continuation of funds. (1) Existing funds. The following funds are continued: (a) The “local government property insurance fund” or “property fund”. (b) The “state life insurance fund” or “life fund”. History: 1973 c. 117; 1979 c. 221; 1981 c. 20, 314; 1987 a. 27.

604.03 – Composition and integrity of funds.

604.03 Composition and integrity of funds. (1) Composition. Each fund consists of premium payments, earnings from investments, amounts recovered from reinsurers or under subrogation or contribution claims and any other income, less losses paid and expenses properly charged to the fund. Each fund shall be separately maintained and accounted for. (2) Integrity of fund. Each […]

604.04 – Administration.

604.04 Administration. (1) Manager. Each fund under chs. 605 to 607 shall be administered by a manager who shall be the commissioner. In chs. 604 to 607, “manager” means the commissioner in his or her capacity as manager. (2) Other personnel. The manager of a fund may employ such personnel as are necessary for proper […]

604.05 – Investments.

604.05 Investments. Assets of all funds under chs. 605 to 607 shall be invested by the state investment board under s. 25.17. Each January 1 the secretary of administration shall credit each fund with earnings on the invested assets in each fund for the preceding 12 months. If any fund is indebted to the general […]

604.06 – Custody of assets and liability.

604.06 Custody of assets and liability. (1) Custody. The secretary of administration has sole custody of all assets of funds under chs. 605 to 607. (2) Liability. Neither the state nor any person is liable for any obligations of the funds, and the rights of creditors are solely against the assets of the funds, except […]

604.07 – Bonds.

604.07 Bonds. The commissioner as manager of the funds and the secretary of administration shall file surety bonds, specifically conditioned on the performance of their duties under chs. 605 to 607, in amounts required by, and with sureties approved by, the governor. History: 1973 c. 117; 1981 c. 20 s. 2202 (26) (c); 2003 a. […]