1260

(a) An order to conserve the assets of a foreign or alien insurer shall direct the Commissioner forthwith to take possession of the property of the insurer within this territory and to conserve it, subject to the further direction of the court.\n(b) Whenever a domiciliary receiver is appointed for any such insurer in its domiciliary state which is also a reciprocal state, as defined in section 1261 of this title, the court shall on application of the Commissioner appoint the Commissioner as the ancillary receiver in this territory, subject to the provisions of the Uniform Insurers Liquidation Act as set out in sections 1261–1268, inclusive, of this title.