645.035 Bankruptcy petition is prohibited.
147 words·~1 min read·
/wi/chapter-645/645-035A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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 or officer of an insurer may authorize the commencement of a bankruptcy proceeding in which the insurer is a debtor or the commencement of a bankruptcy proceeding against an insurer. Any act, resolution, filing or other matter that purports to authorize the commencement of a bankruptcy proceeding in which the insurer is a debtor or against an insurer is void and without effect.
(5)This section applies to all insurers, including but not limited to an insurer doing business as a health maintenance organization, as defined in s. 609.01
(2).