Wisconsin § 645.32 - Rehabilitation orders.

§ 645.32. Rehabilitation orders.

645.32(1) (1) Appointment of rehabilitator. An order to rehabilitate the business of a domestic insurer, or an alien insurer domiciled in this state, shall appoint the commissioner and his or her successors in office rehabilitator and shall direct the rehabilitator to take possession of the assets of the insurer and to administer them under the orders of the court. The recording of the order with any register of deeds in the state imparts the same notice as a deed, bill of sale or other evidence of title recorded with that register of deeds. 645.32(2) (2) Anticipatory breach. Entry of an order of rehabilitation does not constitute an anticipatory breach of any contracts of the insurer. 645.32 History History: 1979 c. 93 ; 1979 c. 102 s. 236 (13) ; 1993 a. 301 . 645.32 Annotation In the context of insurance rehabilitations, a circuit court erroneously exercises its discretion when the court exceeds its statutory authority or unreasonably substitutes a rehabilitator’s beliefs for the court’s own beliefs. The court upholds the determinations made by the rehabilitator unless the rehabilitator abused the rehabilitator’s discretion. Nickel v. Wells Fargo Bank, 2013 WI App 129 , 351 Wis. 2d 539 , 841 N.W.2d 482 , 10-1291 .