Wisconsin § 424.204 - Maximum charge by creditor for insurance.
Full text of Wisconsin Wisconsin Statutes § 424.204 — Maximum charge by creditor for insurance., with citation guidance and answers to common questions.
§ 424.204. Maximum charge by creditor for insurance.
424.204(1) (1) Except as provided in sub. (2) , if a creditor contracts for or receives a charge for insurance, the amount charged for the insurance may not exceed the premium to be charged by the insurer, as computed at the time the charge to the customer is determined, conforming to any rate filings required by law and made by the insurer with the commissioner of insurance. 424.204(2) (2) A creditor who provides consumer credit insurance in relation to an open-end credit plan may calculate the charge to the customer in each billing cycle by applying the current premium rate to either: 424.204(2)(a) (a) The average daily unpaid balance of the obligation in the cycle; 424.204(2)(b) (b) The unpaid balance of the obligation or a median amount within a specified range of unpaid balances of the obligation on approximately the same day of the cycle. The day of the cycle need not be the day used in calculating the finance charge (s.
Source: official Wisconsin text · Last verified 2026-08-27
Frequently Asked Questions About Wisconsin § 424.204
What does Wisconsin Statutes § 424.204 cover?
Section 424.204 ("Maximum charge by creditor for insurance.") is part of the Wisconsin Statutes, the codified statutory law of Wisconsin. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Wisconsin § 424.204?
A common citation format is "Wisconsin Statutes § 424.204" (Wisconsin). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Wisconsin law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Wisconsin official source linked on this page or consult a licensed Wisconsin attorney.
How does Wisconsin § 424.204 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Wisconsin can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Wisconsin.