(a) If a domiciliary liquidator has been appointed for an insurer not domiciled in
this state, the commissioner may file a petition with the district court of Shawnee
county requesting appointment as ancillary receiver in this state:
(1) If such liquidator finds there are sufficient assets of the insurer located in
this state to justify the appointment of an ancillary receiver;
(2) if the protection of creditors or policyholders in this state so requires.
(b) The court may issue an order appointing an ancillary receiver in whatever terms
the court deems appropriate. The filing or recording of the order with the register of deeds in this state imparts
the same notice as a deed, bill of sale or other evidence of title duly filed or recorded
with the register of deeds.
(c) When a domiciliary liquidator has been appointed in a reciprocal state, then the
ancillary receiver appointed in this state, whenever necessary, may aid and assist
the domiciliary liquidator in recovering assets of the insurer located in this state.
The ancillary receiver, as soon as practicable, shall liquidate from its securities
those special deposit claims and secured claims which are proved and allowed in the
ancillary proceedings in this state, and shall pay the necessary expenses of the proceedings.
Such liquidator shall promptly transfer all remaining assets, books, accounts and
records to the domiciliary liquidator. Subject to this section, the ancillary receiver and deputies shall have the same powers
and be subject to the same duties with respect to the administration of assets as
a liquidator of an insurer domiciled in this state.
(d) When a domiciliary liquidator has been appointed in this state, ancillary receivers
appointed in reciprocal states shall have, as to assets and books, accounts, and other
records in their respective states, corresponding rights, duties and powers to those
provided in subsection (c) for ancillary receivers appointed in this state.
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