Section 177.075. Distributions caused by certain insurance company activities.

 

(1)  Any intangible property distributable before January 1, 2003, in the course of a demutualization of an insurance company is presumed abandoned if the distribution remains unclaimed for more than 2 years after the date on which the property is distributable and if all of the following apply:

(a) At the time the property is distributable, the holder knows that the last-known address of the owner, as reflected in the records of the holder, is incorrect or the holder has mailed the distribution or notice thereof to the owner at the last-known address of the owner, as reflected in the records of the holder, and the mailing has been returned to the holder as undeliverable.

(b) The holder has not communicated with the owner in writing concerning the distribution after the date on which the property is distributable.

(c) The holder has not communicated with the owner in any other manner concerning the distribution, as reflected in the records of the holder, after the date on which the property is distributable.

(2)  Any intangible property distributable in the course of a demutualization of an insurance company is presumed abandoned as otherwise provided under this chapter if sub. (1) (a) , (b) , or (c) does not apply with respect to the distribution.

(3)  Any intangible property distributable in the course of the dissolution of the Health Insurance Risk-Sharing Plan under 2013 Wisconsin Act 20 , section 9122 (1L) , and 2013 Wisconsin Act 116 , section 32 (1) (b) , is presumed abandoned as otherwise provided under this chapter if sub. (1) (a) , (b) , or (c) does not apply with respect to the distribution.

2003 a. 33 ; 2013 a. 20 , 116 .