(a) The domiciliary liquidator of an insurer domiciled in a reciprocal state shall, except as to special deposits and security on secured claims under § 31-1351(c), be vested by operation of law with the title to all of the assets, property, contracts, and rights of action, agents’ balances, and all of the books, accounts, and other records of the insurer located in the District. The date of vesting shall be the date of the filing of the petition, if that date is specified by the domiciliary law for the vesting of property in the domiciliary state. Otherwise, the date of vesting shall be the date of entry of the order directing possession to be taken. The domiciliary liquidator shall have the immediate right to recover balances due from agents and to obtain possession of the books, accounts, and other records of the insurer located in this state. He also shall have the right to recover all other assets of the insurer located in this state, subject to § 31-1351.
(b) If a domiciliary liquidator is appointed for an insurer not domiciled in a reciprocal state, the Commissioner shall be vested by operation of law with the title to all of the property, contracts, and right of action, and all of the books, accounts and other records of the insurer located in the District, at the same time that the domiciliary liquidator is vested with title in the domicile. The Commissioner may petition for a conservation or liquidation order under § 31-1348 or § 31-1349, or for an ancillary receivership under § 31-1351, or, after approval by the Superior Court of the District of Columbia, may transfer title to the domiciliary liquidator, as the interests of justice and the equitable distribution of the assets require.
(c) Claimants residing in the District may file claims with the liquidator or ancillary receiver, if any, in the District or with the domiciliary liquidator, if the domiciliary law permits. The claims must be filed on or before the last date fixed for the filing of claims in the domiciliary liquidation proceedings.
(Oct. 15, 1993, D.C. Law 10-35, § 51, 40 DCR 5773; May 21, 1997, D.C. Law 11-268, § 10(z)(2), 44 DCR 1730.)
1981 Ed., § 35-2850.
This section is referenced in § 31-1301.
Structure District of Columbia Code
Title 31 - Insurance and Securities
Chapter 13 - Insurers Rehabilitation and Liquidation Procedures
§ 31–1303. Jurisdiction and venue
§ 31–1304. Injunctions and orders
§ 31–1305. Cooperation of officers, owners, and employees
§ 31–1306. Continuation of delinquency proceedings
§ 31–1308. Temporary seizure order
§ 31–1309. Confidentiality of records
§ 31–1309.01. Duty to provide information to other insurance regulators and guaranty associations
§ 31–1310. Grounds for rehabilitation
§ 31–1311. Rehabilitation orders
§ 31–1312. Powers and duties of the rehabilitator
§ 31–1313. Actions by and against the rehabilitator
§ 31–1314. Termination of rehabilitation
§ 31–1315. Grounds for liquidation
§ 31–1317. Continuance of coverage
§ 31–1318. Dissolution of insurer
§ 31–1319. Powers of liquidator
§ 31–1320. Notice to creditors and others
§ 31–1322. Actions by and against liquidator
§ 31–1323. Collection and list of assets
§ 31–1324. Fraudulent transfer prior to petition
§ 31–1325. Fraudulent transfer after petition
§ 31–1326. Voidable preferences and liens
§ 31–1327. Claims of holders of void or voidable rights
§ 31–1330. Reinsurer’s liability
§ 31–1331. Recovery of premiums owed
§ 31–1332. Domiciliary liquidator’s proposal to distribute assets
§ 31–1336. Special provisions for third party claims
§ 31–1339. Secured creditor’s claims
§ 31–1340. Priority of distribution
§ 31–1341. Liquidator’s recommendations to the court
§ 31–1342. Distribution of assets
§ 31–1343. Unclaimed and withheld funds
§ 31–1344. Termination of proceedings
§ 31–1345. Reopening liquidation
§ 31–1346. Disposition of records during and after termination of liquidation
§ 31–1347. External audit of the receiver’s books
§ 31–1348. Conservation of property of foreign or alien insurers found in the District of Columbia
§ 31–1349. Liquidation of property of foreign or alien insurers found in the District of Columbia
§ 31–1350. Domiciliary liquidators in other states
§ 31–1351. Ancillary formal proceedings
§ 31–1352. Ancillary summary proceedings
§ 31–1353. Claims of nonresidents against insurers domiciled in the District of Columbia
§ 31–1354. Claims of residents against insurers domiciled in reciprocal states
§ 31–1355. Attachment, garnishment, and levy of execution