58. If an ancillary receiver in another state or foreign country, whether called by that name or not, fails to transfer to the domiciliary liquidator in this State any assets within his control, other than special deposits, diminished only by the expenses of the ancillary receivership, if any, the claims filed in the ancillary receivership, other than special deposit claims or secured claims, shall be Class 7 claims pursuant to paragraph (7) of subsection a. of section 41 of this act.
N.J. Stat. Ann. § 17B:32-88
Failure of ancillary receiver to transfer assets
Known as the New Jersey Life and Health Insurance Guaranty Association Act
The act spans §§ 17B:17-1 to 17B:37-9 (1,003 sections).
L.1992,c.65,s.58.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.