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§ 221.62. Subordination of claims for non-cooperation

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. Insurance

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 40 P.S. Insurance (Refs & Annos)
Chapter 1. Insurance Department (Refs & Annos)
Article V. Suspension of Business--Involuntary Dissolutions (Refs & Annos)
(d) Interstate Relations
40 P.S. § 221.62
§ 221.62. Subordination of claims for non-cooperation
Currentness
If an ancillary receiver in another state or foreign country, whether called by that name or not, fails to transfer to the domiciliary liquidator in this Commonwealth any assets within his control other than special deposits, diminished only by the expenses of the ancillary receivership, if any, the claims filed in the ancillary receivership, other than special deposit claims or secured claims, shall be placed in the class of claims under section 544(f).1

Credits

1921, May 17, P.L. 789, art. V, § 562, added 1977, Dec. 14, P.L. 280, No. 92 § 2, imd. effective.

Footnotes

1
40 P.S. § 221.44.
40 P.S. § 221.62, PA ST 40 P.S. § 221.62
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document