2013 Wisconsin Statutes & Annotations
633. Employee benefit plan administrators and principals.
633.13 License required.
633.13 License required.
(1) General. Except as provided in sub. (2), a person may not perform, offer to perform or advertise any service as an administrator unless the person has obtained a license under s. 633.14.
(2) Exemptions. The commissioner may exempt by rule certain classes of administrators from the requirement of sub. (1) if the commissioner determines any of the following:
(a) That the functions that the administrators perform do not require special competence or trustworthiness or otherwise do not require the regulatory surveillance of a licensing requirement.
(b) That other safeguards make a licensing requirement unnecessary.
(3) Responsibilities of principal. A principal may not use the services of an administrator unless the administrator furnishes proof of licensure under s. 633.14 or exemption under sub. (2).
History: 1991 a. 39.
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