Legislation
SECTION 7411
Filing and proving of claims of non-residents against delinquent insurers domiciled in this state
Insurance (ISC) CHAPTER 28, ARTICLE 74
§ 7411. Filing and proving of claims of non-residents against
delinquent insurers domiciled in this state. (a) In a delinquency
proceeding begun in this state against an insurer domiciled in this
state, claimants residing in reciprocal states may file claims either
with the ancillary receivers, if any, in their respective states, or
with the domiciliary receiver. All such claims must be filed on or
before the last date fixed for the filing of claims in the domiciliary
delinquency proceedings.
(b) (1) Controverted claims of claimants residing in reciprocal states
may either be proved in this state as provided by law, or, if ancillary
proceedings have been commenced in such reciprocal states, may be proved
in those proceedings.
(2) If a claimant elects to prove his claim in ancillary proceedings
and if notice of the claim and opportunity to appear and be heard is
afforded the domiciliary receiver of this state as provided in section
seven thousand four hundred twelve of this article with respect to
ancillary proceedings in this state, the final allowance of such claim
by the courts in the ancillary state shall be accepted in this state as
conclusive as to its amount, and as to its priority, if any, against
special deposits or other security located within the ancillary state.
delinquent insurers domiciled in this state. (a) In a delinquency
proceeding begun in this state against an insurer domiciled in this
state, claimants residing in reciprocal states may file claims either
with the ancillary receivers, if any, in their respective states, or
with the domiciliary receiver. All such claims must be filed on or
before the last date fixed for the filing of claims in the domiciliary
delinquency proceedings.
(b) (1) Controverted claims of claimants residing in reciprocal states
may either be proved in this state as provided by law, or, if ancillary
proceedings have been commenced in such reciprocal states, may be proved
in those proceedings.
(2) If a claimant elects to prove his claim in ancillary proceedings
and if notice of the claim and opportunity to appear and be heard is
afforded the domiciliary receiver of this state as provided in section
seven thousand four hundred twelve of this article with respect to
ancillary proceedings in this state, the final allowance of such claim
by the courts in the ancillary state shall be accepted in this state as
conclusive as to its amount, and as to its priority, if any, against
special deposits or other security located within the ancillary state.