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).
History: 1989 a. 23.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 645 - Insurers rehabilitation and liquidation.
645.01 - Short title, construction and purpose.
645.035 - Bankruptcy petition is prohibited.
645.04 - Jurisdiction and venue.
645.05 - Injunctions and orders.
645.06 - Costs and expenses of litigation.
645.07 - Cooperation of officers and employees.
645.09 - Commissioner's reports.
645.10 - Continuation of delinquency proceedings.
645.11 - Effect of amendments of this chapter.
645.21 - Commissioner's summary orders.
645.22 - Court's seizure order.
645.23 - Commissioner's seizure order.
645.24 - Conduct of hearings in summary proceedings.
645.31 - Grounds for rehabilitation.
645.32 - Rehabilitation orders.
645.33 - Powers and duties of the rehabilitator.
645.34 - Actions by and against rehabilitator.
645.35 - Termination of rehabilitation.
645.41 - Grounds for liquidation.
645.43 - Continuance of coverage.
645.44 - Dissolution of insurer.
645.45 - Federal receivership.
645.46 - Powers of liquidator.
645.47 - Notice to creditors and others.
645.49 - Actions by and against liquidator.
645.51 - Collection and list of assets.
645.52 - Fraudulent transfers prior to petition.
645.53 - Fraudulent transfers after petition.
645.54 - Voidable preferences and liens.
645.55 - Claims of holders of void or voidable rights.
645.56 - Setoffs and counterclaims.
645.58 - Reinsurer's liability; arbitration clauses.
645.59 - Uncollected, unearned premiums.
645.60 - Applicability of claims settlement provisions to loss claims.
645.64 - Special provisions for 3rd-party claims.
645.67 - Secured creditors' claims.
645.675 - Qualified financial contracts.
645.68 - Order of distribution.
645.69 - Claims for certain health care costs.
645.71 - Liquidator's recommendations to the court.
645.72 - Distribution of assets.
645.73 - Unclaimed and withheld funds.
645.74 - Termination of proceedings.
645.75 - Reopening liquidation.
645.76 - Disposition of records during and after termination of liquidation.
645.77 - External audit of receiver's books.
645.81 - Conservation of property of foreign or alien insurers found in this state.
645.82 - Liquidation of property of foreign or alien insurers found in this state.
645.83 - Foreign domiciliary receivers in other states.
645.84 - Ancillary formal proceedings.
645.85 - Ancillary summary proceedings.
645.86 - Claims of nonresidents against insurers domiciled in this state.
645.87 - Claims of residents against insurers domiciled in reciprocal states.
645.88 - Attachment, garnishment and levy of execution.