TITLE 27

Insurance

CHAPTER 27-14.4

Uniform Insurers Liquidation Act

SECTION 27-14.4-6



   § 27-14.4-6  Director as ancillary

receiver. –

Whenever under the laws of this state an ancillary receiver is to be appointed

in delinquency proceedings for an insurer not domiciled in this state, the

superior court shall appoint the director of business regulation as the

ancillary receiver. The ancillary receiver shall file a petition in the court

requesting appointment:



   (1) If he or she finds that there are sufficient assets of

the insurer located in this state to justify the appointment of an ancillary

receiver; or



   (2) If ten (10) or more persons resident in this state having

claims against the insurer file a petition with the director of business

regulation requesting the appointment of an ancillary receiver.



History of Section.

(P.L. 1994, ch. 141, § 2.)