40-3651.Same; appointment of ancillary receiver; order of court;authority of ancillary receiver.(a) If a domiciliary liquidator has been appointed for aninsurernot domiciled in this state, the commissioner may file a petition with thedistrict court of Shawnee county requesting appointment as ancillary receiverin this state:
(1) If such liquidator finds there are sufficient assets of the insurerlocated in this state to justify the appointment of an ancillary receiver;
(2) if the protection of creditors or policyholders in this state sorequires.
(b) The court may issue an order appointing an ancillary receiver inwhatever terms the court deems appropriate. The filing or recording of theorderwith the register of deeds in this state imparts the same notice as a deed,bill of sale or other evidence of title duly filed or recorded with theregister of deeds.
(c) When a domiciliary liquidator has been appointed in a reciprocal state,then the ancillary receiver appointed in this state, whenever necessary,may aid and assist the domiciliary liquidator in recovering assets of theinsurerlocated in this state. The ancillary receiver, as soon as practicable,shall liquidate from its securities those special deposit claims andsecured claims which are proved and allowed in the ancillary proceedings inthis state, and shall pay the necessary expenses of the proceedings. Suchliquidator shall promptly transfer all remaining assets, books, accounts andrecords to the domiciliary liquidator. Subject to this section, the ancillaryreceiver and deputies shall have the same powers and be subject to the sameduties with respect to the administration of assets as a liquidator of aninsurer domiciled in this state.
(d) When a domiciliary liquidator has been appointed in this state,ancillary receivers appointed in reciprocal states shall have, as to assets andbooks, accounts, and other records in their respective states, correspondingrights, duties and powers to those provided in subsection (c) for ancillaryreceivers appointed in this state.
40-3651.Same; appointment of ancillary receiver; order of court;authority of ancillary receiver.(a) If a domiciliary liquidator has been appointed for aninsurernot domiciled in this state, the commissioner may file a petition with thedistrict court of Shawnee county requesting appointment as ancillary receiverin this state:
(1) If such liquidator finds there are sufficient assets of the insurerlocated in this state to justify the appointment of an ancillary receiver;
(2) if the protection of creditors or policyholders in this state sorequires.
(b) The court may issue an order appointing an ancillary receiver inwhatever terms the court deems appropriate. The filing or recording of theorderwith the register of deeds in this state imparts the same notice as a deed,bill of sale or other evidence of title duly filed or recorded with theregister of deeds.
(c) When a domiciliary liquidator has been appointed in a reciprocal state,then the ancillary receiver appointed in this state, whenever necessary,may aid and assist the domiciliary liquidator in recovering assets of theinsurerlocated in this state. The ancillary receiver, as soon as practicable,shall liquidate from its securities those special deposit claims andsecured claims which are proved and allowed in the ancillary proceedings inthis state, and shall pay the necessary expenses of the proceedings. Suchliquidator shall promptly transfer all remaining assets, books, accounts andrecords to the domiciliary liquidator. Subject to this section, the ancillaryreceiver and deputies shall have the same powers and be subject to the sameduties with respect to the administration of assets as a liquidator of aninsurer domiciled in this state.
(d) When a domiciliary liquidator has been appointed in this state,ancillary receivers appointed in reciprocal states shall have, as to assets andbooks, accounts, and other records in their respective states, correspondingrights, duties and powers to those provided in subsection (c) for ancillaryreceivers appointed in this state.
40-3651.Same; appointment of ancillary receiver; order of court;authority of ancillary receiver.(a) If a domiciliary liquidator has been appointed for aninsurernot domiciled in this state, the commissioner may file a petition with thedistrict court of Shawnee county requesting appointment as ancillary receiverin this state:
(1) If such liquidator finds there are sufficient assets of the insurerlocated in this state to justify the appointment of an ancillary receiver;
(2) if the protection of creditors or policyholders in this state sorequires.
(b) The court may issue an order appointing an ancillary receiver inwhatever terms the court deems appropriate. The filing or recording of theorderwith the register of deeds in this state imparts the same notice as a deed,bill of sale or other evidence of title duly filed or recorded with theregister of deeds.
(c) When a domiciliary liquidator has been appointed in a reciprocal state,then the ancillary receiver appointed in this state, whenever necessary,may aid and assist the domiciliary liquidator in recovering assets of theinsurerlocated in this state. The ancillary receiver, as soon as practicable,shall liquidate from its securities those special deposit claims andsecured claims which are proved and allowed in the ancillary proceedings inthis state, and shall pay the necessary expenses of the proceedings. Suchliquidator shall promptly transfer all remaining assets, books, accounts andrecords to the domiciliary liquidator. Subject to this section, the ancillaryreceiver and deputies shall have the same powers and be subject to the sameduties with respect to the administration of assets as a liquidator of aninsurer domiciled in this state.
(d) When a domiciliary liquidator has been appointed in this state,ancillary receivers appointed in reciprocal states shall have, as to assets andbooks, accounts, and other records in their respective states, correspondingrights, duties and powers to those provided in subsection (c) for ancillaryreceivers appointed in this state.
