§ 27-14.3-60 — § 27-14.3-60. Claims of residents against insurers domiciled in reciprocal states.

Rhode Island § 27-14.3-60

• Jurisdiction: Rhode Island
• Title 27: Insurance
• Ch. 27-14.3: Insurers’ Rehabilitation and Liquidation Act

Text

§ 27-14.3-60. Claims of residents against insurers domiciled in reciprocal states.

(a) Promptly after the appointment of the commissioner as ancillary receiver for an insurer not domiciled in this state, the commissioner shall determine whether there are claimants residing in this state who are not protected by guaranty funds, and if so, whether the protection of those claimants requires the establishing of a claim filing procedure in the ancillary proceeding. If a claim filing procedure is established, claimants against the insurer who reside within this state may file claims with either the ancillary receiver, if any, in this state, or with the domiciliary liquidator. Claims must be filed on or before the last dates fixed for the filing of claims in the domiciliary liquidation proceeding.

(b) Claims belonging to claimants residing in this state may be proved either in the domiciliary state under the law of that state, or in ancillary proceedings, if any, in this state, provided a claim filing procedure is established in the ancillary proceeding. If a claimant elects to prove the claimant's claim in this state, the claimant shall file the claimant's claim with the liquidator in the manner provided in §§ 27-14.3-39 and 27-14.3-40. The ancillary receiver shall make the ancillary receiver's recommendation to the court as under § 27-14.3-47. The ancillary receiver shall also arrange a date for a hearing if necessary under § 27-14.3-43 and shall give notice to the liquidator in the domiciliary state, either by certified mail or by personal service, at least forty (40) days prior to the date set for the hearing. If the domiciliary liquidator, within thirty (30) days after the giving of the notice, gives notice in writing to the ancillary receiver and to the claimant, either by certified mail or by personal service, of the domiciliary liquidator's intention to contest the claim, the domiciliary liquidator shall be entitled to appear or to be represented in any proceeding in this state involving the adjudication of the claim.

(c) The final allowance of the claim by the courts of this state shall be accepted as conclusive as to amount and as to priority against special deposits or other security located in this state.

Legislative History

P.L. 1993, ch. 248, § 1.