766.555 Obligations of spouses under open-end plans.
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766.555 Obligations of spouses under open-end plans.
(1)In this section:
(a)“Open-end plan” means credit extended on an account pursuant to a plan under which the creditor may permit a spouse to make purchases or obtain loans, from time to time, directly from the creditor or indirectly by use of a credit card, check or other device, as the plan may provide.
(b)“Open-end plan” includes only those open-end plans entered into by a person whose spouse is not a party to the account.
(a)This subsection applies to spouses for whom the determination date is 12:01 a.m. on January 1, 1986.
(b)Unless additional property is available under par.
(c), an obligation incurred by a spouse on or after January 1, 1986, under an open-end plan entered into by that spouse before January 1, 1986, may be satisfied only from property of that spouse that is not marital property and from that part of marital property that would have been the property of that spouse but for the enactment of this chapter.