The commissioner may petition for an order dissolving the corporate existence of a domestic insurer or the U.S. branch of an alien insurer domiciled in this state at the time of the application for a liquidation order. If the court issues a liquidation order, it also shall order dissolution if the commissioner has petitioned for it. The court shall order dissolution of the corporation upon petition by the commissioner at any time after a liquidation order has been granted. If the dissolution has not previously occurred, it shall be effected by operation of law upon the discharge of the liquidator.
Wis. Stat. § 645.44
Dissolution of insurer
Known as the Insurers Rehabilitation and Liquidation Act
The act spans §§ 645.01–645.90 (67 sections).
Applied in 1 court decision — leading case 123 Wash. 2d 131 - American Star Insurance v. Grice (1994)
Most recently applied in 123 Wash. 2d 131 - American Star Insurance v. Grice (January 1994)
1979 c. 102.
Official source: Wisconsin State Legislature. Reproduced from public-domain Wisconsin statutes; confirm against the official source for the current text. Not legal advice.