645.73 Unclaimed and withheld funds. - Wisconsin Statutes

645.73

645.73 Unclaimed and withheld funds.

645.73(1)

(1) Unclaimed funds. The liquidator, as provided in ch. 177, shall report and deliver to the state treasurer all unclaimed funds subject to distribution remaining in the liquidator's hands when he or she is ready to apply to the court for discharge, including the amount distributable to any creditor, shareholder, member or other person who is unknown or cannot be found or who is under disability with no person legally competent to receive a distributive share.

645.73(2)

(2) Withheld funds. All funds withheld under s. 645.64 and not distributed shall upon discharge of the liquidator be deposited with the state treasurer and paid by the treasurer in accordance with s. 645.64. Any sums remaining which under s. 645.64 would revert to the undistributed assets of the insurer shall be transferred to the state treasurer and become the property of the state under sub. (1), unless the commissioner petitions the court to reopen the liquidation under s. 645.75.

645.73 - ANNOT.

History: 1979 c. 102 ss. 220, 236 (23); 1983 a. 408.