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.)