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Session Laws, 1941
Volume 582, Page 466   View pdf image (33K)
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466 LAWS OF MARYLAND. [CH. 295

domiciliary delinquency proceeding. If any such proceeding
controverted claims belonging to claimants residing in this
state may either (a) be proved in the domiciliary state as pro-
vided by the law of such state, or (b) if ancillary preceding
have been commenced in this state, be proved in such ancillary
proceedings. In the event that any such claimant elects to
prove his claim in this state, he shall file his claim with the
ancillary receiver in the manner provided by the law of this
state for the proving of claims against domiciliary insurers,
and he shall give, or cause to be given, notice to the receiver
in the domiciliary state, either by mail or otherwise in writing
that such claim is being made to such ancillary receiver and
the nature and the amount thereof. The domiciliary receiver
shall be entitled to appear or to be represented in any proceed-
ing in this state involving the adjudication of the claim. The
allowance of the claim by the courts of this state shall be final
and conclusive both as to its amount and also as to its priority,
if any, against special deposits or other security located within
this state.

65D. Priority of Preferred Claims. In any delinquency
proceeding against a domiciliary insurer of this state, claims
owing to residents of ancillary states shall be deemed pre-
ferred claims if, and only if, like claims are preferred under the
laws of this state. All such claims whether owing to residents
or non-residents shall be given equal priority of payment from
general assets. No law of an ancillary state providing for
preferred claims against the general assets of insurers shall
be recognized as against the assets of delinquent domiciliary
insurers of this state regardless of where such assets may be
located. In any delinquency proceeding against an insurer
domiciled in reciprocal state, claims owing to residents of this
state shall be preferred if, and only if, like claims are preferred
by the laws of such other state.

65E. Priority of Special Deposit Claims. The owners of
special deposit claims against an insurer for which a receiver
has been appointed in a delinquency proceeding in this or any
other state shall be given priority against their several special
deposits in accordance with the provisions of the statutes re-
quiring the creation and maintenance of such special deposits.
If there be a deficiency in any such special deposit so that the
claims secured thereby are not fully discharged therefrom, the
claimants may share in the general assets, but such sharing
shall be deferred until general creditors, and also claimants
against other special deposits who have received a smaller per-
centage from their respective special deposits, have been paid
percentages of their claims equal to the percentage paid from

 

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Session Laws, 1941
Volume 582, Page 466   View pdf image (33K)   << PREVIOUS  NEXT >>


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