612.52 Undertaking to pay premiums and assessments. An applicant for insurance shall sign an undertaking agreeing to pay the advance premiums for any insurance on the applicant's behalf and any assessment which may be levied in accordance with the terms of the policy, the articles, the bylaws, the statutes, and the reasonable expenses of collecting the assessment and any reasonable penalties for nonpayment. The undertaking may provide that for such collection the applicant shall waive any exemptions otherwise applicable to the property covered by the policy.
History: 1973 c. 22; 1979 c. 102; 1981 c. 218.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
612.01 - Purposes, scope, interpretation and definitions.
612.02 - Organization of town mutuals.
612.03 - General powers and effect of unauthorized corporate acts.
612.04 - Amendments of articles, bylaws and business plan.
612.12 - Voting rights of members.
612.13 - Directors and officers.
612.15 - Supervision of management changes.
612.16 - Exclusive agency and management contracts.
612.18 - Transactions with affiliates and in which directors and others are interested.
612.21 - Merger of town mutuals.
612.22 - Merger of town mutuals and mutual insurance corporations.
612.23 - Conversion of town mutuals into mutual insurance corporations.
612.24 - Transfer of business.
612.25 - Voluntary dissolution of town mutuals.
612.35 - Borrowing and repayment.
612.52 - Undertaking to pay premiums and assessments.