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- Alaska Statutes.
- Title 21. Insurance
- Chapter 78. Rehabilitation and Liquidation
- Section 120. Order of Conservation or Ancillary Liquidation of Foreign or Alien Insurers.
previous: Section 110
. Order of Liquidation, Alien Insurers.
next: Section 130
. Conduct of Delinquency Proceedings Against Domestic and Alien Insurers.
AS 21.78.120. Order of Conservation or Ancillary Liquidation of Foreign or Alien Insurers.
- (a) An order to conserve the assets of a foreign or alien insurer must require the director to take immediate possession
of the property of the insurer in this state and to conserve it, subject to the further direction of the court.
- (b) An order to liquidate the assets in this state of a foreign insurer must require the director to take immediate
possession of the property of the insurer in this state and to liquidate it subject to the orders of the court and with
due regard to the rights and powers of the domiciliary receiver, as provided in this chapter.
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