601.53 Insolvency notices.
(1) Insurers doing a surety business. Whenever any authorized insurer doing a surety business is placed in liquidation under ch. 645 or a similar law of another state or jurisdiction, the commissioner shall immediately notify the director of state courts. Upon receipt of the notice, the director of state courts shall notify each register in probate, probate registrar and clerk of circuit court, who shall notify and require every fiduciary that has filed a bond on which the company is surety to file a new bond with a different surety.
(2) Other. The commissioner as liquidator of an insurer shall send notices as provided in s. 645.47.
History: 1975 c. 375, 421; 1977 c. 449 s. 497; 1989 a. 141; 1991 a. 144.
Legislative Council Note, 1975: Sub. (1) continues the substance of s. 204.04 (3). Sub. (2) is new and is a useful cross reference. [Bill 642-S]
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 601 - Insurance — administration.
601.04 - Certificate of authority; fee.
601.13 - Financial services; deposits.
601.16 - Official seal and signature.
601.19 - Organization of the office.
601.20 - Advisory councils and committees.
601.32 - Supervision of industry, supplementary fee.
601.33 - Exemption from taxation.
601.41 - General duties and powers.
601.415 - Miscellaneous duties.
601.423 - Social and financial impact reports.
601.43 - Examinations and alternatives.
601.44 - Conducting examinations.
601.46 - Commissioner's records and reports.
601.465 - Nondisclosure of information.
601.48 - Participation in organizations.
601.51 - Provision of certified copies and notices.
601.55 - Nondomestic insurers; additional requirements.
601.56 - Study and rules on standards for health insurers.
601.57 - Study and rules on health insurance identification cards.
601.58 - Interstate insurance product regulation compact.
601.61 - Auxiliary procedural powers.
601.63 - Notice and effective date of orders.
601.64 - Enforcement procedure.
601.65 - Marketing firm forfeitures.
601.71 - Enforcement of policyholder rights.
601.715 - Registered agent for service of process.
601.72 - Service of process through state officer.
601.73 - Procedure for service of process through state officer.
601.80 - Definitions; healthcare stability plan.
601.83 - Healthcare stability plan; administration.
601.85 - Accounting, reports, and audits.
601.952 - Information security program.
601.953 - Investigation of cybersecurity event.