§ 7412 — Filing and proving of claims of residents against delinquent insurers domiciled in reciprocal states

§ 7412. Filing and proving of claims of residents against delinquent\ninsurers domiciled in reciprocal states. (a) In a delinquency proceeding\nin a reciprocal state against an insurer domiciled in that state,\nclaimants residing in this state may file claims either with the\nancillary receiver, if any, appointed in this state, or with the\ndomiciliary receiver. All such claims must be filed on or before the\nlast date fixed for the filing of claims in the domiciliary proceeding.\n (b) (1) Controverted claims belonging to claimants residing in this\nstate may be proved either in the domiciliary state as provided by the\nlaw of that state, or in ancillary proceedings, if any, in this state.\n (2) If the claimant elects to prove his claim in this state, he shall\nfile it with the ancillary receiver in the manner provided by the law of\nthis state for the proving of claims against insurers domiciled in this\nstate, and he shall give notice in writing to the receiver in the\ndomiciliary state either by registered mail or by personal service at\nleast forty days prior to the date set for hearing. The notice shall\ncontain a concise statement of the amount of the claim, the facts on\nwhich it is based, and the priorities asserted, if any. If the\ndomiciliary receiver, within thirty days after the giving of such\nnotice, shall give notice in writing to the ancillary receiver and to\nthe claimant, either by registered mail or personal service, of his\nintention to contest such claim, he shall be entitled to appear or to be\nrepresented in any proceeding in this state involving the adjudication\nof the claim.\n (3) The final allowance of the claim by the courts of this state shall\nbe accepted as conclusive as to its amount, and shall also be accepted\nas conclusive as to its priority, if any, against special deposits or\nother security located within this state.\n