Insurers Rehabilitation and Liquidation Act

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  2. Mississippi Code
  3. Insurance
  4. Insurers Rehabilitation and Liquidation Act

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Section
83-24-1

Short title

Section
83-24-3

Declaration of purpose

Section
83-24-5

Application of chapter

Section
83-24-7

Definitions

Section
83-24-9

Commencement of delinquency proceedings; jurisdiction

Section
83-24-11

Injunctions and orders; application

Section
83-24-13

Cooperation with Commissioner of Insurance; penalty for obstructing or interfering with proceedings; hearings

Section
83-24-15

Commencement of proceedings under former law; application of current provisions

Section
83-24-17

Restrictions on insurer after commencement of delinquency proceedings

Section
83-24-19

Petition for court order for formal delinquency proceeding; content of order; ex parte order; duration of order; affect on contractual obligations; hearings; review of order; notice

Section
83-24-21

Confidentiality of records pertaining to proceedings

Section
83-24-23

Petition for order to rehabilitate domestic insurer or alien insurer domiciled in state; grounds

Section
83-24-25

Rehabilitator designated; affect of order of rehabilitation; affect on contractual obligations

Section
83-24-27

Appointment of special deputies; powers and duties; compensation; counsel; clerical assistants; advisory committee of policyholders, claimants, or other creditors; cost of administration; implementation of legal proceedings; plans for reorganization, etc.; fraudulent transfers

Section
83-24-29

Stay of action or proceeding; statute of limitations; defense of laches; standing to appear in proceedings

Section
83-24-31

Petition for order of liquidation; order of liquidation on grounds of insolvency; petition for order terminating rehabilitation of insurer; restoration of insurer's interest

Section
83-24-33

Petition for order directing liquidation; grounds

Section
83-24-35

Commissioner, and his successors in office, as liquidator; rights, duties and responsibilities; terms of order to liquidate; financial reports; plan for continuation of insurer's business

Section
83-24-37

Continuation of insurer's obligations; termination of coverages

Section
83-24-39

Petition for order to dissolve corporate existence

Section
83-24-41

Powers and duties of liquidator

Section
83-24-43

Notice of liquidation order; filing claims with liquidator

Section
83-24-45

Agent of insurer; duties following notice of liquidation; penalties

Section
83-24-47

Action or proceeding against insurer after order appointing liquidator prohibited; injunctions; action on behalf of insurer; limitation of actions; rights of guaranty association

Section
83-24-49

Preparation of list of insurer's assets

Section
83-24-51

Transfers by insurer prior to petition for rehabilitation or liquidation; voiding transfers

Section
83-24-53

Transfer of real property of insurer after petition for rehabilitation or liquidation

Section
83-24-55

Preference transfer; voiding

Section
83-24-57

Surrender of preference, lien, conveyance, transfer, assignment or encumbrance by creditor

Section
83-24-59

Mutual debts or mutual credits between insurer and another person; setoff

Section
83-24-61

Report by liquidator after order of liquidation; assessments; notice

Section
83-24-63

Recovery from reinsurers; amount

Section
83-24-65

Payment of premiums; recovery of unearned premiums; credits; setoffs; violation of provisions; penalties; notice of violation; hearing; appeal

Section
83-24-67

Disbursement of assets after final determination of insolvency

Section
83-24-69

Filing proof of claims; late filing

Section
83-24-71

Content of proof of claims

Section
83-24-73

Claim of third party which is contingent on obtaining judgment against insurer; claims due except for passage of time; employment contracts

Section
83-24-75

Third party claim filed with liquidator; insured filing claim; claim subject to coverage by guaranty association

Section
83-24-77

Denial of claim; notice; objection to denial; hearing

Section
83-24-79

Failure of secured creditor to file claim; distribution on claim

Section
83-24-81

Value of security held by secured creditor; determination

Section
83-24-83

Priority of distribution of claims; order of distribution

Section
83-24-85

Review of claims filed in liquidation; reports; power and duty of court

Section
83-24-87

Payment of distributions

Section
83-24-89

Deposit of unpaid funds with State Treasurer; escheat proceedings

Section
83-24-91

Application for order of discharge; costs and expenses

Section
83-24-93

Reopening proceedings after discharge of liquidator; orders

Section
83-24-95

Destruction of records

Section
83-24-97

Audit of books of commissioner relating to receivership established under this chapter; reports; expenses

Section
83-24-99

Commissioner of insurance acting as conservator in absence of appointment of domiciliary liquidator; orders

Section
83-24-101

Application by commissioner for order permitting liquidation of assets found in state of foreign insurer or alien insurer not domiciled in state; notice; filing or recording order; domiciliary liquidator appointed in reciprocal state or nonreciprocal state; payment of claims

Section
83-24-103

Vesting of title to assets in liquidator; filing claim with liquidator or ancillary receiver

Section
83-24-105

Petition for appointment as ancillary receiver; orders

Section
83-24-107

Discretion of commissioner of insurance to institute proceedings

Section
83-24-109

Claimants residing in foreign country or in states not reciprocal states; time requirements; notice; claims by claimants residing in reciprocal states

Section
83-24-111

Liquidation proceeding in reciprocal state against insurer domiciled in that state; claims by residents of Mississippi; notice; hearings; final allowance

Section
83-24-113

Attachment, garnishment or levy of execution against delinquent insurer during pendency of liquidation proceedings

Section
83-24-115

Liquidation proceeding in Mississippi involving one or more reciprocal states; order of distribution; priority of claims; special deposit claims; surrender of secured claim

Section
83-24-117

Failure of ancillary receiver in another state or foreign country to transfer assets to domiciliary liquidator