31A-27a-401. Liquidation orders. (1) (a) An order to liquidate the business of an insurer shall: (i) appoint the commissioner and any successor in office as the liquidator; and (ii) direct the liquidator to: (A) take possession of the property of the insurer; and (B) administer the property subject to this chapter. (b) As of the […]
31A-27a-402. Continuance of coverage. (1) Notwithstanding any policy or contract language or any other statute, and unless ordered otherwise by the receivership court upon application by the receiver, a reinsurance contract by which the insurer assumes the insurance obligations of another insurer is cancelled upon entry of an order of liquidation. (2) (a) Notwithstanding any […]
Effective 1/1/2019 31A-27a-403. Continuance of coverage — Health maintenance organizations. (1) As used in this section: (a) “Basic health care services” is as defined in Section 31A-8-101. (b) “Enrollee” is as defined in Section 31A-8-101. (c) “Health care” is as defined in Section 31A-1-301. (d) “Health maintenance organization” is as defined in Section 31A-8-101. (e) […]
31A-27a-404. Sale or dissolution of the insurer’s corporate entity. (1) Notwithstanding the entry of a liquidation order, the liquidator may apply for an order to sell or dissolve the corporate entity or charter of a domestic insurer, or the United States branch of an alien insurer domiciled in this state: (a) at any time after […]
31A-27a-405. Powers of the liquidator. (1) The liquidator may: (a) (i) hold hearings, subpoena a witness to compel the witness’ attendance, administer oaths, examine a person under oath, and compel a person to subscribe to that person’s testimony after the testimony is correctly reduced to writing; and (ii) in connection with a power listed in […]
31A-27a-406. Notice to creditors and others. (1) Unless the receivership court otherwise directs, the liquidator shall give or cause to be given notice of the liquidation order as soon as possible: (a) by first-class mail or electronic communication as permitted by the receivership court to the following at their last-known address: (i) all of the […]
31A-27a-407. Duties of agents. (1) (a) At the request of the liquidator, an agent receiving notice of the entry of the liquidation order shall provide notice of that order: (i) on a form prescribed by the liquidator; (ii) to: (A) each policyholder of a policy issued through the agent; and (B) other person named in […]
