If a domiciliary receiver, conservator, or liquidator has been appointed for an insurer not domiciled in this state, the director may file a petition with the circuit court of Hughes County requesting appointment as ancillary receiver in this state:
(1) If the director finds that there are sufficient assets of the insurer located in this state to justify the appointment of an ancillary receiver; or
(2) If the protection of creditors or policyholders in this state so requires.