Section 375.1208 – Form of proof of claim — liquidator may request additional information — effect of incomplete information.
Effective – 28 Aug 1991 375.1208. Form of proof of claim — liquidator may request additional information — effect of incomplete information. — 1. Proof of claim shall consist of a statement signed by the claimant that includes all of the following that are applicable: (1) The basis of the claim including the consideration given […]
Section 375.1210 – Contingent claims, allowed when, exceptions.
Effective – 28 Aug 1991 375.1210. Contingent claims, allowed when, exceptions. — 1. The claim of a third party which is contingent only on his first obtaining a judgment against the insured shall be considered and allowed as if there were no such contingency. 2. A claim may be allowed even if contingent, if it […]
Section 375.1212 – Third party claims for actions against insureds, filed how — procedures.
Effective – 28 Aug 1991 375.1212. Third party claims for actions against insureds, filed how — procedures. — 1. Whenever any third party asserts a cause of action against an insured of an insurer in liquidation, the third party may file a claim with the liquidator. 2. Whether or not the third party files a […]
Section 375.1214 – Denial of claim — appeal procedure.
Effective – 28 Aug 1991 375.1214. Denial of claim — appeal procedure. — 1. When a claim is denied in whole or in part by the liquidator, written notice of the determination shall be given to the claimant or his attorney by first class mail at the address shown in the proof of claim. Within […]
Section 375.1215 – Subrogated claim, allowed when.
Effective – 28 Aug 1991 375.1215. Subrogated claim, allowed when. — Whenever a creditor whose claim against an insurer is secured, in whole or in part, by the undertaking of another person, fails to prove and file that claim, the other person may do so in the creditor’s name, and shall be subrogated to the […]
Section 375.1216 – Valuation of security, procedure.
Effective – 28 Aug 1991 375.1216. Valuation of security, procedure. — 1. The value of any security held by a secured creditor shall be determined in one of the following ways, as the court may direct: (1) By converting the same into money according to the terms of the agreement pursuant to which the security […]
Section 375.1218 – Classes of claims — priority of distribution.
Effective – 28 Aug 2018, 2 histories 375.1218. Classes of claims — priority of distribution. — The priority of distribution of claims from the insurer’s estate shall be in accordance with the order in which each class of claims is herein set forth. Every claim in each class shall be paid in full or adequate […]
Section 375.1194 – Transfer of real property not voidable, when.
Effective – 28 Aug 1991 375.1194. Transfer of real property not voidable, when. — 1. After a petition for rehabilitation or liquidation has been filed, a transfer of any of the real property of the insurer made to a person acting in good faith shall be valid against the receiver if made for a present […]
Section 375.1195 – Preference, voidable when, how recovered — liens, voidable when, procedure — liability of officers for granting preferences.
Effective – 28 Aug 1991 375.1195. Preference, voidable when, how recovered — liens, voidable when, procedure — liability of officers for granting preferences. — 1. (1) A preference is a transfer of any of the property of an insurer to or for the benefit of a creditor, for or on account of an antecedent debt, […]
Section 375.1196 – Claims of creditor, surrender of preference required.
Effective – 28 Aug 1991 375.1196. Claims of creditor, surrender of preference required. — 1. No claims of a creditor who has received or acquired a preference, lien, conveyance, transfer, assignment or encumbrance voidable under sections 375.1150 to 375.1246 shall be allowed unless he surrenders the preference, lien, conveyance, transfer, assignment or encumbrance. If an […]