645.84 Ancillary formal proceedings.

114 words·~1 min read·/wi/chapter-645/645-84

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Appointment of ancillary receiver in this state. If a domiciliary liquidator has been appointed for an insurer not domiciled in this state, the commissioner shall file a petition with the circuit court for Dane County requesting appointment as ancillary receiver in this state:

(a)If the commissioner finds that there are sufficient assets of the insurer located in this state to justify the appointment of an ancillary receiver;

(b)If 10 or more persons resident in this state having claims against the insurer file a petition with the commissioner requesting appointment of an ancillary receiver; or

(c)If the protection of creditors or policyholders in this state so requires.