Section 21.78.070. Grounds for conservation, alien insurers.

Latest version.

The director may apply to the court for an order appointing the director as receiver or ancillary receiver, and directing the director to conserve the assets within this state, of an alien insurer upon
        (1) any of the grounds specified in AS 21.78.040 or 21.78.050;
        (2) the ground that the insurer has failed to comply, within the time designated by the director, with an order made by the director to make good an impairment of its trusteed funds; or
        (3) the ground that the property of the insurer has been sequestrated in its domiciliary sovereignty or elsewhere.

Notes

History

(Sec. 1 ch 120 SLA 1966)

                    
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