Wisconsin Administrative Code
Department of Agriculture, Trade and Consumer Protection
ATCP 90-139 - Trade and Consumer Protection
Chapter ATCP 93 - Flammable, Combustible, And Hazardous Liquids
Subchapter VII - Financial Responsibility
Section ATCP 93.740 - Cancellation or nonrenewal by a provider of financial assurance
Universal Citation: WI Admin Code ยง ATCP 93.740
Current through August 26, 2024
(1)
(a) Except as otherwise provided, a provider
of financial assurance may cancel or fail to renew an assurance mechanism by
sending a notice of termination by certified mail to the owner or
operator.
(b) Termination of a
guarantee, a surety bond, or a letter of credit may not occur until 120 days
after the date on which the owner or operator receives the notice of
termination as evidenced by the return receipt.
(c)
1.
Termination of insurance or risk retention group coverage or state-funded
assurance, except for nonpayment or misrepresentation by the insured, may not
occur until 60 days after the date on which the owner or operator received
notice of termination as evidenced by the return receipt.
2. Termination for nonpayment of premium or
misrepresentation by the insured may not occur until a minimum of 10 days after
the date on which the owner or operator receives the notice of termination, as
evidenced by the return receipt.
(2)
(a) If
a provider of financial responsibility cancels or fails to renew for reasons
other than incapacity of the provider as specified in s.
ATCP 93.753, the owner or operator shall obtain alternate
coverage as specified in this subchapter within 60 days after receipt of the
notice of termination.
(b) If the
owner or operator fails to obtain alternate coverage within 60 days after
receipt of the notice of termination, the owner or operator shall notify the
department of such failure and submit all of the following to the department:
1. The name and address of the provider of
financial assurance.
2. The
effective date of termination.
3.
The evidence of the financial assistance mechanism subject to the termination
maintained in accordance with s.
ATCP 93.745(2).
Disclaimer: These regulations may not be the most recent version. Wisconsin may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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