§ 27-14.3-26. Notice to creditors and others.
(a) Unless the court otherwise directs, the liquidator shall give or cause to be given
notice of the liquidation order as soon as possible:
(1) By first class mail and either by facsimile or telegraph to the insurance commissioner
of each jurisdiction in which the insurer is doing business;
(2) By first class mail to any guaranty association or foreign guaranty association which
is or may become obligated as a result of the liquidation;
(3) By first class mail to all insurance agents or insurance producers of the insurer;
(4) By first class mail to all persons known or reasonably expected to have claims against
the insurer including all policyholders, at their last known address as indicated
by the records of the insurer;
(5) By first class mail to federal, state, and local governmental agencies and instrumentalities
as their interests may arise; and
(6) By publication in a newspaper of general circulation in the state in which the insurer
has its principal place of business and in those other locations that the liquidator
deems appropriate.
(b) Except as established by the liquidator with the approval of the court, notice to
potential claimants under subsection (a) of this section shall require claimants to
file with the liquidator their claims together with proper proofs of their claims
under § 27-14.3-40, on or before a date the liquidator shall specify in the notice. The liquidator need
not require persons claiming cash surrender values or other investment values in life
insurance and annuities to file a claim. All claimants shall have a duty to keep the
liquidator informed of any changes of address.
(c)(1) Notice under subsection (a) of this section to agents or insurance producers of the
insurer and to potential claimants who are policyholders shall include, where applicable,
notice that coverage by state guaranty associations may be available for all or part
of policy benefits in accordance with applicable state guaranty laws.
(2) The liquidator shall promptly provide to the guaranty associations any information
concerning the identities and addresses of the policyholders and their policy coverages
as may be within the liquidator's possession or control, and cooperate with guaranty
associations to assist them in providing to the policyholders timely notice of the
guaranty associations' coverage of policy benefits, including, as applicable, coverage
of claims and continuation termination of coverage.
(d) If notice is given in accordance with this section, the distribution of assets of
the insurer under this chapter shall be conclusive with respect to all claimants,
whether or not they received notice.