Wis. Admin. Code Office of the Commissioner of Insurance § Ins 57.24 - Dividends and other distributions

Current through November 29, 2021

Requests for approval of dividends or any other distributions to shareholders or corporate members shall include the following:

(1) The amount of the proposed dividend or distribution;
(2) The date established for payment of the dividend or distribution;
(3) A statement as to whether the dividend or distribution is to be in cash or other property and, if in property, a description of the property, its cost, and its fair market value together with an explanation of the basis for valuation;
(4) A balance sheet and statement of income for the period between the date on which of the last annual statement was filed with the commissioner and the end of the month preceding the month in which the request for dividend approval is submitted.
(5) A brief statement as to the effect of the proposed dividend upon the care management organization's net assets, the reasonableness of net assets in relation to the care management organization's outstanding liabilities, and the adequacy of net assets relative to the care management organization's financial needs.

Notes

Wis. Admin. Code Office of the Commissioner of Insurance § Ins 57.24
EmR0927: emerg. cr. eff. 10-10-09; CR 09-093: cr. Register May 2010 No. 653, eff. 6-1-10.

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