(a) The moneys collected by the Insurance Commissioner in a proceeding under this chapter shall be from time to time deposited in one (1) or more state or national banks, savings banks, or trust companies, and in the case of the insolvency or voluntary or involuntary liquidation of any such depositary which is an institution organized and supervised under the laws of this state, such deposits shall be entitled to priority of payment on an equality with any other priority given by the banking laws of this state.
(b) The commissioner may in his or her discretion deposit such moneys or any part thereof in a national bank or trust company as a trust fund.
Section: Previous 23-68-114 23-68-115 23-68-116 23-68-117 23-68-118 23-68-119 23-68-120 23-68-121 23-68-122 23-68-123 23-68-124 23-68-125 23-68-126 23-68-127 23-68-128 NextLast modified: November 15, 2016