645.07 – Cooperation of officers and employees.
645.07 Cooperation of officers and employees. (1) Duty to cooperate. Any officer, manager, trustee or general agent of any insurer, any attorney representing an insurer on any matter, and any other person with executive authority over or in charge of any segment of the insurer’s affairs shall cooperate with the commissioner in any proceeding under […]
645.08 – Bonds; immunity.
645.08 Bonds; immunity. (1) Bonds. In any proceeding under this chapter the commissioner and the commissioner’s deputies are responsible on their official bonds for the faithful performance of their duties. If the court deems it desirable for the protection of the assets, it may at any time require an additional bond from the commissioner or […]
645.04 – Jurisdiction and venue.
645.04 Jurisdiction and venue. (1) Actions by commissioner. Except as provided in sub. (2) and s. 645.45 (1), no delinquency proceeding may be commenced under this chapter by anyone other than the commissioner of this state and no court has jurisdiction to entertain, hear or determine any proceeding commenced by any other person. (2) Actions […]
645.01 – Short title, construction and purpose.
645.01 Short title, construction and purpose. (1) Short title. This chapter may be cited as the “Insurers Rehabilitation and Liquidation Act”. (2) Construction: no limitation of powers. This chapter shall not be interpreted to limit the powers granted the commissioner by other provisions of the law. (3) Liberal construction. This chapter shall be liberally construed […]
645.02 – Persons covered.
645.02 Persons covered. The proceedings authorized by this chapter may be applied to all of the following: (1) All insurers who are doing, or have done, an insurance business in this state, and against whom claims arising from that business may exist now or in the future. (2) All insurers who purport to do an […]
645.03 – Definitions.
645.03 Definitions. (1) General definitions. For the purposes of this chapter: (a) “Ancillary state” means any state other than a domiciliary state. (b) “Delinquency proceeding” means any proceeding commenced against an insurer for the purpose of liquidating, rehabilitating, reorganizing or conserving such insurer, and any summary proceeding under ss. 645.21 to 645.24. (c) “Domiciliary state” […]
645.035 – Bankruptcy petition is prohibited.
645.035 Bankruptcy petition is prohibited. (1) In this section, “bankruptcy proceeding” means any proceeding under 11 USC 101 to 1330. (2) No insurer may commence a bankruptcy proceeding in which the insurer is a debtor. (3) No person, including an insurer, may commence a bankruptcy proceeding against an insurer. (4) No board of directors, director […]