§ 24-A §4380 — Subordination of claims for noncooperation

If an ancillary receiver, by whatever name called, in another state or foreign country fails to transfer to the domiciliary liquidator in this State any assets within the ancillary receiver's control other than special deposits, diminished only by the expenses, if any, of the ancillary receivership, the claims filed in the ancillary receivership, other than special deposit claims or secured claims, must be placed in the class of claims under section 4379, subsection 8.

Legislative History

PL 1969, c. 132, §1 (NEW). RR 2021, c. 1, Pt. B, §374 (COR).