Section 27-32-8 Grounds - Conservation of assets - Foreign insurers.
Section 27-32-8
Grounds - Conservation of assets - Foreign insurers.
The commissioner may apply to the court for an order appointing him as receiver, or ancillary receiver, and directing him to conserve the assets within this state of a foreign insurer upon any of the following grounds:
(1) Upon any of the grounds specified in Sections 27-32-6 or 27-32-7; or
(2) Upon the ground that its property has been sequestrated in its domiciliary sovereignty or in any other sovereignty.
(Acts 1971, No. 407, p. 707, §627.)