§ 507c-52

507C.52 Domiciliary liquidators in other states. 1. Except as to special deposits and security on secured claims under section 507C.53, subsection 3, the domiciliary liquidator of an insurer domiciled in a reciprocal state shallbe vested with the title to the assets, property, contracts, rights of action, agents’ balances,books, accounts, and other records of the insurer located in this state. The date of vestingis the date of the filing of the petition, if that date is specified by the domiciliary law for thevesting of property in the domiciliary state. Otherwise, the date of vesting is the date of entryof the order directing possession to be taken. The domiciliary liquidator may immediatelyrecover balances due from agents and obtain possession of the books, accounts, and otherrecords of the insurer located in this state. The domiciliary liquidator may also have the rightto recover all other assets of the insurer located in this state, subject to section 507C.53. 2. If a domiciliary liquidator is appointed for an insurer not domiciled in a reciprocal state, the commissioner of this state shall be vested with the title to the property, contracts and rightsof action, books,

iliary liquidator is appointed for an insurer not domiciled in a reciprocal state, the commissioner of this state shall be vested with the title to the property, contracts and rightsof action, books, accounts and other records of the insurer located in this state, at the sametime that the domiciliary liquidator is vested with title in the domicile. The commissionerof this state may petition for a conservation or liquidation order under section 507C.50 or507C.51, or for an ancillary receivership under section 507C.53, or after approval by the courtmay transfer title to the domiciliary liquidator, as the interests of justice and the equitabledistribution of the assets require. 3. Claimants residing in this state may file claims with the liquidator or ancillary receiver in this state or with the domiciliary liquidator, if the domiciliary law permits. The claims shallbe filed on or before the last date fixed for the filing of claims in the domiciliary liquidationproceedings. 84 Acts, ch 1175, §52; 92 Acts, ch 1117, §32Referred to in §507C.2 Sat Dec 23 00:40:01 2023 Iowa Code 2024, Section 507C.52 (17, 0)