Section 26-28-111 - Order of Conservation or Ancillary Liquidation of Foreign or Alien Insurer

26-28-111. Order of conservation or ancillary liquidation of foreign or alien insurer. (a) An order to conserve a foreign or alien insurer's assets requires the commissioner immediately to take possession of the insurer's property within this state and to conserve it, subject to the court's further direction. (b) An order to liquidate a foreign insurer's assets in this state requires the commissioner immediately to take possession of the insurer's property within this state and to liquidate it subject to the court's orders and with due regard to the rights and powers of the domiciliary receiver as provided in this chapter.