(a) If a domiciliary liquidator has been appointed for an insurer not domiciled in the District, the Commissioner may file a petition with the Superior Court of the District of Columbia requesting appointment as ancillary receiver in the District:
(1) If he or she finds that there are sufficient assets of the insurer located in the District to justify the appointment of an ancillary receiver; or
(2) If the protection of creditors or policyholders in the District so requires.
(b) The court may issue an order appointing an ancillary receiver in whatever terms it deems appropriate. The filing or recording of the order with the recorder of deeds in the District imparts the same notice as a deed, bill of sale, or other evidence of title duly filed or recorded with that recorder of deeds.
(c) When a domiciliary liquidator has been appointed in a reciprocal state, then the ancillary receiver appointed in the District may, whenever necessary, aid and assist the domiciliary liquidator in recovering assets of the insurer located in the District. The ancillary receiver shall, as soon as practicable, liquidate from their respective securities those special deposit claims and secured claims which are proved and allowed in the ancillary proceedings in the District, and shall pay the necessary expenses of the proceedings. He or she shall promptly transfer all remaining assets, books, accounts, and records to the domiciliary liquidator. Subject to this section, the ancillary receiver and his or her deputies shall have the same powers and be subject to the same duties with respect to the administration of assets as a liquidator of an insurer domiciled in the District.
(d) When a domiciliary liquidator has been appointed in the District, ancillary receivers appointed in reciprocal states shall have, as to assets and books, accounts, and other records in their respective states, corresponding rights, duties, and powers to those provided in subsection (c) of this section for ancillary receivers appointed in the District.
(Oct. 15, 1993, D.C. Law 10-35, § 52, 40 DCR 5773; May 21, 1997, D.C. Law 11-268, § 10(z)(2), 44 DCR 1730.)
1981 Ed., § 35-2851.
This section is referenced in § 31-1301, § 31-1348, § 31-1349, and § 31-1350.
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