646.15(1)(a)1.1. Interference with the fund or with its administrative proceedings. 646.15(1)(a)2.2. The institution or further prosecution of any action or proceeding involving the insurer or in which the fund is obligated to defend a party. 646.15(1)(a)3.3. The obtaining of a preference, judgment, garnishment or lien against the insurer or its assets. 646.15(1)(a)4.4. Any other threatened or contemplated action that might prejudice the rights of policyholders or the administration of the liquidation or fund proceedings. 646.15(1)(b)(b) Upon granting an application under par. (a), the court may retain jurisdiction of any further proceeding or relief, as the court considers necessary and proper, involving the insurer. 646.15(2)(2) Exclusive proceedings. A court of this state does not have jurisdiction to entertain, hear or determine a proceeding or to grant relief if the proceeding or relief involves or is related to a nondomestic insurer which is in liquidation unless the court is so authorized under this chapter or ch. 645. 646.16646.16 Payment of deposits made for benefit of creditors. 646.16(1)(1) The commissioner shall promptly pay to the fund any deposit held in this state that was paid, as required by law or the commissioner, by the insolvent insurer for the benefit of creditors, including policyholders, and not turned over to the domiciliary liquidator upon the entry of a final order of liquidation of an insurer domiciled in this state or in a reciprocal state, as defined in s. 645.03 (1) (i). Of the amount paid to the fund under this subsection, the fund may retain the percentage determined by dividing the aggregate amount of policyholders’ claims that are related to the insolvency and for which the fund has provided benefits under this chapter by the aggregate amount of all policyholders’ claims in this state that are related to the insolvency. The fund shall remit the balance to the domiciliary liquidator. 646.16(2)(2) Any amount retained by the fund under sub. (1) shall be treated as a distribution of estate assets under s. 645.72 or a similar provision of the state of domicile of the insolvent insurer. Deposits subject to this section shall not be treated as deposits as security, escrow, or other security under s. 645.03 (1) (j). 646.16 HistoryHistory: 2003 a. 261. 646.21646.21 Custody and investment of assets. 646.21(1)(1) Custody. Except as provided in sub. (2), the board controls the assets of the fund. The board shall select regulated financial institutions in this state which receive deposits in which to establish and maintain accounts for assets needed on a current basis. If practicable, the accounts shall earn interest. 646.21(2)(2) Investment of assets. The board may request that assets of the fund not needed currently be invested by the investment board under s. 25.17. If so requested, the investment board shall invest those assets in investments with maturities and liquidity appropriate to the probable needs of the fund for money to perform its duties. All income attributable to the investments shall be credited to the fund, and both income and principal shall be transferred to the fund on request of the board. Assets held by the fund shall be invested in a similar manner. CLAIMS PROCEDURES
646.31(1)(1) Conditions of eligibility. A claim is not eligible for payment from the fund unless it is an unpaid claim for a loss insured under the policy or annuity, or an unpaid claim under a supplementary contract providing for a retained asset account, and all of the following conditions are met: 646.31(1)(a)(a) Issued by authorized insurer. The claim arises out of an insurance policy or annuity issued by an insurer which was authorized to do business in this state either at the time the policy or annuity was issued or when the insured event occurred, and against which an order of liquidation, which is not stayed, has been entered by a court of competent jurisdiction in the insurer’s domiciliary state. 646.31(1)(b)2.2. The claim does not arise out of business against which assessments are prohibited under any federal or state law. 646.31(1)(c)(c) Contact with state. The claim is a member of one of the classes of claims under sub. (2). 646.31(1)(cm)(cm) Termination of coverage. Except for claims under life insurance policies, annuities or noncancelable or guaranteed renewable disability insurance policies, the claim arises within 30 days after the order of liquidation is entered or before any of the following occur: 646.31(1)(cm)1.1. The policy expires, if the expiration date is less than 30 days after the order of liquidation is entered. 646.31(1)(cm)2.2. The insured replaces or cancels the policy, if either action is taken within 30 days after the order of liquidation is entered. 646.31(1)(d)(d) Exceptions. The claim is not any of the following: