628.39 Extension of credit on premiums. The extension of credit to the insured upon a premium without interest for not exceeding 60 days from the effective date of the policy, or after that time with interest at not less than the legal rate nor more than 18 percent per year on the unpaid balance, is permissible. The payment of premiums on policies issued under a mass marketing program on an installment basis through payroll deductions is not an extension of credit.
History: 1975 c. 371; 1979 c. 110 s. 60 (13); 1983 a. 215.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 628 - Insurance marketing.
628.03 - Requirement of license.
628.05 - Licensing of town mutual agents.
628.06 - Licensing of fraternal agents.
628.07 - Licensing of nonresidents.
628.08 - Changes in status of intermediaries.
628.10 - Termination of license.
628.11 - Appointment of agents.
628.12 - Liability of surplus lines insurer.
628.31 - Sale of insurance through vending machines.
628.34 - Unfair marketing practices.
628.345 - Prohibited practices during license revocation or surrender.
628.347 - Best interest in annuity transactions.
628.348 - Sale of long-term care insurance.
628.35 - Prohibition of exclusive contracts.
628.36 - Limitations on corporations supplying health care services.
628.37 - Preservation of professional relationships in professional services.
628.38 - Disclosure requirements.
628.39 - Extension of credit on premiums.
628.40 - Effect of agent's appointment on insurer.
628.46 - Timely payment of claims.
628.48 - Risk retention groups.
628.78 - Benefit plans for agents.
628.91 - Requirement of licensure or registration.
628.92 - Issuance of license and registration.
628.93 - Other applicable provisions.
628.95 - Navigator and nonnavigator assister conduct.