Wisconsin § 645.56 Setoffs and counterclaims.

Wisconsin Statutes

§ 645.56 — Setoffs and counterclaims.

Wisconsin § 645.56

Ch. 645Insurers rehabilitation and liquidation

Subch.subch. III of ch. 645 SUBCHAPTER III

FORMAL PROCEEDINGS

This text of Wisconsin § 645.56 (Setoffs and counterclaims.) is published on Counsel Stack Legal Research, covering Wisconsin primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wis. Stat. § 645.56 (2026).

Text

645.56 645.56(1) (1) Setoffs allowed in general. Mutual debts or mutual credits between the insurer and another person in connection with any action or proceeding under this chapter shall be set off and the balance only shall be allowed or paid, except as provided in sub.

(2). 645.56(2) (2) Exceptions. No setoff or counterclaim may be allowed in favor of any person where: 645.56(2)(a) (a) The obligation of the insurer to the person would not at the date of the filing of a petition for liquidation entitle the person to share as a claimant in the assets of the insurer; 645.56(2)(b) (b) The obligation of the insurer to the person was purchased by or transferred to the person with a view to its being used as a setoff; 645.56(2)(c) (c) The obligation of the person is to pay an assessment levie

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645.56
645.56(1) (1) Setoffs allowed in general. Mutual debts or mutual credits between the insurer and another person in connection with any action or proceeding under this chapter shall be set off and the balance only shall be allowed or paid, except as provided in sub. (2) .
645.56(2) (2) Exceptions. No setoff or counterclaim may be allowed in favor of any person where:
645.56(2)(a) (a) The obligation of the insurer to the person would not at the date of the filing of a petition for liquidation entitle the person to share as a claimant in the assets of the insurer;
645.56(2)(b) (b) The obligation of the insurer to the person was purchased by or transferred to the person with a view to its being used as a setoff;
645.56(2)(c) (c) The obligation of the person is to pay an assessment levied against the members or subscribers of the insurer, or is to pay a balance upon a subscription to the capital stock of the insurer, or is in any other way in the nature of a capital contribution; or
645.56(2)(d) (d) The obligation of the person is to pay premiums, whether earned or unearned, to the insurer.