§ 27-14.3-60 - Claims of residents against insurers domiciled in reciprocal states. - Rhode Island Statutes

SECTION 27-14.3-60

   § 27-14.3-60  Claims of residents againstinsurers domiciled in reciprocal states. – (a) Promptly after the appointment of the commissioner as ancillary receiverfor an insurer not domiciled in this state, the commissioner shall determinewhether there are claimants residing in this state who are not protected byguaranty funds, and if so, whether the protection of those claimants requiresthe establishing of a claim filing procedure in the ancillary proceeding. If aclaim filing procedure is established, claimants against the insurer who residewithin this state may file claims with either the ancillary receiver, if any,in this state, or with the domiciliary liquidator. Claims must be filed on orbefore the last dates fixed for the filing of claims in the domiciliaryliquidation proceeding.

   (b) Claims belonging to claimants residing in this state maybe proved either in the domiciliary state under the law of that state, or inancillary proceedings, if any, in this state, provided a claim filing procedureis established in the ancillary proceeding. If a claimant elects to prove hisor her claim in this state, he or she shall file his or her claim with theliquidator in the manner provided in §§ 27-14.3- 39 and 27-14.3-40.The ancillary receiver shall make his or her recommendation to the court asunder § 27-14.3-47. He or she shall also arrange a date for a hearing ifnecessary under § 27-14.3-43 and shall give notice to the liquidator inthe domiciliary state, either by certified mail or by personal service, atleast forty (40) days prior to the date set for the hearing. If the domiciliaryliquidator, within thirty (30) days after the giving of the notice, givesnotice in writing to the ancillary receiver and to the claimant, either bycertified mail or by personal service, of his or her intention to contest theclaim, he or she shall be entitled to appear or to be represented in anyproceeding in this state involving the adjudication of the claim.

   (c) The final allowance of the claim by the courts of thisstate shall be accepted as conclusive as to amount and as to priority againstspecial deposits or other security located in this state.