507C.55 - CLAIMS OF NONRESIDENTS AGAINST INSURERS DOMICILED IN THIS STATE.

        507C.55  CLAIMS OF NONRESIDENTS AGAINST INSURERS      DOMICILED IN THIS STATE.         1.  In a liquidation proceeding begun in this state against an      insurer domiciled in this state, claimants residing in foreign      countries or in nonreciprocal states shall file claims in this state,      and claimants residing in reciprocal states shall file claims either      with the ancillary receivers in their respective states or with the      domiciliary liquidator.  Claims shall be filed on or before the last      date fixed for the filing of claims in the domiciliary liquidation      proceeding.         2.  Claims belonging to claimants residing in reciprocal states      shall be proved either in the liquidation proceeding in this state as      provided in this chapter or in ancillary proceedings in the      reciprocal states, if a claim filing procedure is established in the      ancillary proceeding.  If notice of the claims and opportunity to      appear and be heard is afforded the domiciliary liquidator of this      state as provided in section 507C.56, subsection 2, with respect to      ancillary proceedings, the final allowance of claims by the courts in      ancillary proceedings in reciprocal states shall be conclusive as to      amount and as to priority against special deposits or other security      located in such ancillary states, but shall not be conclusive with      respect to priorities against general assets under section 507C.42.      
         Section History: Recent Form
         84 Acts, ch 1175, § 55; 92 Acts, ch 1117, § 33         Referred to in § 507C.2