58-29B-147. Domiciliary receiver, conservator, or liquidator appointed for alien insurer--Appointment as ancillary receiver.
If a domiciliary receiver, conservator, or liquidator has been appointed for an insurer not domiciled in this state, the director may file a petition with the circuit court of Hughes County requesting appointment as ancillary receiver in this state:
(1)If the director finds that there are sufficient assets of the insurer located in this state to justify the appointment of an ancillary receiver; or
(2)If the protection of creditors or policyholders in this state so requires.
Source: SL 1989, ch 436, §147; SL 2008, ch 271, §4.