(1) List of assets required. As soon as practicable after the liquidation order, the liquidator shall prepare in duplicate a list of the insurer's assets. The list shall be amended or supplemented as the court requires. One (1) copy shall be filed in the office of the clerk of the court having jurisdiction over the liquidation proceedings and one (1) copy shall be retained for the liquidator's files. All amendments and supplements shall be similarly filed.
(2) Liquidation of assets. The liquidator shall reduce the assets to a degree of liquidity that is consistent with the effective execution of the liquidation as rapidly and economically as he can.