611.66 Exclusive agency contracts.
(1) General. Except under sub. (2), no corporation may enter into any contract whereby any person is granted or obtains directly or indirectly the exclusive right or privilege of soliciting, producing or receiving a fee or commission on all or substantially all of the insurance business of the corporation or on all or substantially all of the insurance business of the corporation in this state.
(2) Subsidiaries. Subsection (1) does not apply to contracts in which a corporation is the exclusive agent of its insurance subsidiary authorized under s. 611.26 (1) or in which the subsidiary is the exclusive agent of the corporation.
History: 1971 c. 260.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 611 - Domestic stock and mutual insurance corporations.
611.03 - Orders imposing and relaxing restrictions.
611.07 - General corporate powers and procedures.
611.10 - Reservation of corporate name.
611.13 - Organization permit and certificate of incorporation.
611.14 - Powers under organization permit.
611.15 - Deposit of proceeds of subscriptions.
611.16 - Termination of organization permit and payment of organization expenses.
611.18 - Incorporators' liability and organization expenses.
611.19 - Initial capital and surplus requirements.
611.20 - Certificate of authority.
611.22 - Accelerated organization procedure.
611.223 - Transfer of an insurer's place of domicile.
611.23 - Municipal insurance mutuals.
611.24 - Segregated accounts in general.
611.25 - Special provisions for separate accounts for variable contracts.
611.28 - Changes in business plan.
611.29 - Amendment of articles.
611.31 - Securities regulation.
611.33 - Authorized securities.
611.34 - Corporate repurchase of shares.
611.36 - Number of shareholders.
611.40 - Shareholders' meetings.
611.41 - Communications to shareholders or policyholders and commissioner's attendance at meetings.
611.42 - Mutual policyholders' voting rights.
611.425 - Mutual policyholders' proxy voting.
611.426 - Remote participation in policyholder meetings.
611.43 - Annual report to mutual policyholders.
611.52 - Election and removal of directors and officers of stock corporations.
611.53 - Selection and removal of directors and officers of mutuals.
611.54 - Supervision of management changes.
611.55 - Continuity of management in emergencies.
611.56 - Committees of directors.
611.57 - Interlocking directorates and other relationships.
611.60 - Transactions in which directors and others are interested.
611.61 - Transactions of insurers with affiliates.
611.62 - Directors' and officers' liability and indemnification.
611.63 - Executive compensation.
611.66 - Exclusive agency contracts.
611.67 - Management contract services.
611.69 - Dividends and other distributions.
611.71 - Acquisition of all of the shares or of a class of shares of an insurance corporation.
611.72 - Merger or other acquisition of control of a stock insurance corporation.
611.74 - Voluntary dissolution of domestic insurance corporations.
611.75 - Conversion of a domestic stock corporation into a mutual.
611.76 - Conversion of a domestic mutual into a stock corporation.
611.77 - Conversion of assessable to nonassessable and nonassessable to assessable mutuals.
611.78 - Transfer of business or assets.
611.79 - Conversion of a domestic mutual life insurance company into a fraternal.