(a) If, upon the entry of an order of liquidation under this chapter or at any time thereafter during liquidation proceedings the insurer is not clearly solvent, the court shall, upon hearing after such notice it deems proper, make and enter an order adjudging the insurer to be insolvent.
(b) After the entry of the order of insolvency, regardless of any prior notice that may have been given to creditors, the Commissioner shall notify all persons who may have claims against the insurer to file such claims with the Commissioner, at a place and within the time specified in the notice, or such claims shall be forever barred. The time specified in the notice shall be as fixed by the court for filing of claims and which shall be not less than 6 months after the entry of the order of insolvency. The notice shall be given in such manner and for such reasonable period of time as may be ordered by the court.
Structure Delaware Code
Chapter 59. REHABILITATION AND LIQUIDATION
Subchapter I. General Provisions
§ 5901. Definitions [For application of this section, see 79 Del. Laws, c. 207, § 3].
§ 5903. Commencement of delinquency proceedings.
§ 5904. Injunctions [For application of this section, see 79 Del. Laws, c. 207, § 3].
§ 5904A. Proceedings against bank insurance division.
§ 5905. Grounds for rehabilitation; domestic insurers.
§ 5906. Grounds for liquidation.
§ 5907. Grounds for conservation; foreign insurers.
§ 5908. Grounds for conservation — Alien insurers.
§ 5909. Grounds for ancillary liquidation; foreign insurers.
§ 5910. Order of rehabilitation; termination.
§ 5911. Order of liquidation; domestic insurers; insolvent insurer's assets.
§ 5912. Order of conservation or ancillary liquidation of foreign or alien insurers.
§ 5913. Conduct of delinquent proceedings against domestic and alien insurers.
§ 5914. Conduct of delinquency proceedings against foreign insurers.
§ 5915. Claims of nonresidents against domestic insurers.
§ 5916. Claims against foreign insurers.
§ 5917. Form of claim; notice; hearing.
§ 5918. Priority of certain claims.
§ 5919. Attachment and garnishment of assets.
§ 5920. Uniform Insurers Liquidation Act.
§ 5921. Deposit of moneys collected.
§ 5923. Borrowing on pledge of assets.
§ 5924. Date rights fixed on liquidation.
§ 5925. Voidable transfers [For application of this section, see 79 Del. Laws, c. 207, § 3].
§ 5926. Priority of claims for compensation.
§ 5928. Allowance of certain claims.
§ 5929. Order of insolvency; time to file claims.
§ 5930. Report and petition for assessment.
§ 5931. Order and levy of assessments.
§ 5932. Assessment prima facie correct; notice; payment; proceedings to collect.