Wisconsin Statutes 604.06 – Custody of assets and liability
Current as of: 2023 | Check for updates
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Terms Used In Wisconsin Statutes 604.06
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
- State: when applied to states of the United States, includes the District of Columbia, the commonwealth of Puerto Rico and the several territories organized by Congress. See Wisconsin Statutes 990.01
(1) Custody. The secretary of administration has sole custody of all assets of funds under chs. 605 to 607.
(2) Liability. Neither the state nor any person is liable for any obligations of the funds, and the rights of creditors are solely against the assets of the funds, except as otherwise provided in chs. 605 to 607.