(a) An order to conserve the assets of a foreign or alien insurer shall require the Insurance Commissioner forthwith to take possession of the property of the insurer within this state and to conserve it, subject to the further direction of the court.
(b) An order to liquidate the assets in this state of a foreign insurer shall require the commissioner forthwith to take possession of the property of the insurer within this state and to liquidate it subject to the orders of the court and with due regard to the rights and powers of the domiciliary receiver, as provided in this chapter.
Section: Previous 23-68-105 23-68-106 23-68-107 23-68-108 23-68-109 23-68-110 23-68-111 23-68-112 23-68-113 23-68-114 23-68-115 23-68-116 23-68-117 23-68-118 23-68-119 NextLast modified: November 15, 2016