Termination of receivership and disposition of property of absentee.

Upon the entry of any final finding and decree as provided in s. 813.26, the court shall proceed to wind up the receivership and terminate the proceedings: (1) In the case of a finding under s. 813.26 (1) that the absentee is dead: (a) By satisfying all outstanding debts and charges of the receivership; and (b) By then certifying the proceedings to the proper court; or (2) In the case of a finding under s. 813.26 (2) : (a) By satisfying all outstanding debts and charges; (b) By then deducting for the insurance fund provided in s. 813.31 a sum equal to 5 percent of the total value of the property remaining, including amounts paid to the receivership estate from policies of insurance on the absentee’s life; (c) By distributing the remaining property as provided in s. 813.29; and (3) In both cases by requiring the receiver’s account and upon its approval discharging the receiver and the receiver’s bondsmen and entering a final decree terminating the receivership. History: Sup. Ct. Order, 67 Wis. 2d 585, 760, 780 (1975); Stats. 1975 s. 813.28; 1993 a. 486; 2009 a. 177.