North Dakota § 26.1-06.1-51 Domiciliary liquidators in other states

North Dakota Statutes

§ 26.1-06.1-51 — Domiciliary liquidators in other states

North Dakota § 26.1-06.1-51

Title 26.1Insurance

Ch. 26.1-06.1Insurance Company Rehabilitation and Liquidation

This text of North Dakota § 26.1-06.1-51 (Domiciliary liquidators in other states) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 26.1-06.1-51 (2026).

Text

1.The domiciliary liquidator of an insurer domiciled in a reciprocal state, except as to special deposits and security on secured claims under subsection 3 of section 26.1-06.1-52, is vested by operation of law with the title to all of the assets, property, contracts and rights of action, insurance producers' balances, and all of the books, accounts, and other records of the insurer located in this state. The date of vesting must be the date of the filing of the petition, if that date is specified by the domiciliary law for the vesting of property in the domiciliary state. Otherwise, the date of vesting must be the date of entry of the order directing possession to be taken. The domiciliary liquidator shall have the immediate right to recover balances due from insurance producers and to o

Free access — add to your briefcase to read the full text and ask questions with AI

1. The domiciliary liquidator of an insurer domiciled in a reciprocal state, except as to
special deposits and security on secured claims under subsection 3 of section
26.1-06.1-52, is vested by operation of law with the title to all of the assets, property,
contracts and rights of action, insurance producers' balances, and all of the books,
accounts, and other records of the insurer located in this state. The date of vesting
must be the date of the filing of the petition, if that date is specified by the domiciliary
law for the vesting of property in the domiciliary state. Otherwise, the date of vesting
must be the date of entry of the order directing possession to be taken. The domiciliary
liquidator shall have the immediate right to recover balances due from insurance
producers and to obtain possession of the books, accounts, and other records of the
insurer located in this state. The domiciliary liquidator shall also have the right to
recover all other assets of the insurer located in this state, subject to section