§431:7-309  Release of deposit.  (a) 
Any required deposit or portion thereof shall be released in these instances
only:



(1)  Upon extinguishment of all liabilities or portion
thereof, of the insurer for the security of which the deposit is held, by reinsurance
contract or otherwise.



(2)  If any such deposit or portion thereof is no
longer required under this part.



(3)  Upon proper order of a court of competent
jurisdiction the deposit or portion thereof shall be released to the receiver,
conservator, rehabilitator, or liquidator of the insurer for whose account the
deposit is held.



(b)  No such release shall be made except on
application to and written order of the commissioner made upon proof
satisfactory to the commissioner of the existence of one of such grounds
therefor.  The commissioner shall not have any personal liability for any such
release of any deposit or part thereof so made by the commissioner in good
faith.



(c)  All releases of deposits or any part
thereof shall be made to the person then entitled thereto upon proof of title
satisfactory to the commissioner. [L 1987, c 347, pt of §2]