§ 20-638 – Offsets
20-638. Offsets A. In all cases of mutual debts or mutual credits between the insurer and another person in connection with any action or proceeding under this article, such credits and debts shall be set off and the balance only shall be allowed or paid, except as provided in subsection B of this section. B. […]
§ 20-639 – Allowance of certain claims
20-639. Allowance of certain claims A. No contingent claim shall share in a distribution of the assets of an insurer which has been adjudicated to be insolvent by an order made pursuant to this article, except that such claim shall be considered, if properly presented, and may be allowed to share where either: 1. Such […]
§ 20-640 – Time to file claims
20-640. Time to file claims A. If, upon the granting of an order of liquidation under this article or at any time thereafter during the liquidation proceeding, the insurer is not clearly solvent, the court shall, after such notice and hearing as it deems proper, make an order declaring the insurer to be insolvent. Thereupon […]
§ 20-624 – Conduct of delinquency proceedings against domestic and alien insurers
20-624. Conduct of delinquency proceedings against domestic and alien insurers A. If under this article a receiver is to be appointed in delinquency proceedings for a domestic or alien insurer, the court shall appoint the director as receiver. The court shall order the receiver to take immediate possession of the assets of the insurer and […]
§ 20-641 – Report for assessment
20-641. Report for assessment Within three years from the date an order of rehabilitation or liquidation of a domestic mutual insurer or a domestic reciprocal insurer was filed in the office of the clerk of the court by which the order was made, the receiver may make a report to the court setting forth: 1. […]
§ 20-625 – Conduct of delinquency proceedings against foreign insurers
20-625. Conduct of delinquency proceedings against foreign insurers A. If under this article an ancillary receiver is to be appointed in delinquency proceedings for an insurer not domiciled in this state, the court shall appoint the director as ancillary receiver. The director shall file a petition requesting the appointment on the grounds set forth in […]
§ 20-642 – Levy of assessment
20-642. Levy of assessment A. Upon the basis of the report provided for in section 20-641, including any amendments thereof, the court, ex parte, may levy one or more assessments against all members of the insurer who, as shown by the records of the insurer, were members, if a mutual insurer, or subscribers, if a […]
§ 20-626 – Claims of nonresidents against domestic insurers
20-626. Claims of nonresidents against domestic insurers A. In a delinquency proceeding begun in this state against a domestic insurer, 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 shall be filed on or before the last […]
§ 20-643 – Order to pay assessment
20-643. Order to pay assessment After levy of an assessment as provided in section 20-642, upon the filing of a further detailed report by the receiver the court shall issue an order directing each member, if a mutual insurer, or each subscriber, if a reciprocal insurer, if the member or subscriber has not paid the […]
§ 20-627 – Claims against foreign insurers
20-627. Claims against foreign insurers A. In a delinquency proceeding in a reciprocal state against an insurer domiciled in that state, claimants against the insurer who reside within this state may file claims either with the ancillary receiver, if any, appointed in this state, or with the domiciliary receiver. All such claims shall be filed […]