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Current as of January 01, 2024 | Updated by Findlaw Staff
Whenever under the laws of this state an ancillary receiver is to be appointed in delinquency proceedings for an insurer not domiciled in this state, the superior court shall appoint the director of business regulation as the ancillary receiver. The ancillary receiver shall file a petition in the court requesting appointment:
(1) If he or she finds that there are sufficient assets of the insurer located in this state to justify the appointment of an ancillary receiver; or
(2) If ten (10) or more persons resident in this state having claims against the insurer file a petition with the director of business regulation requesting the appointment of an ancillary receiver.
Cite this article: FindLaw.com - Rhode Island General Laws Title 27. Insurance § 27-14.4-6. Director as ancillary receiver - last updated January 01, 2024 | https://codes.findlaw.com/ri/title-27-insurance/ri-gen-laws-sect-27-14-4-6/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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