Alabama Code 27-32-10. Grounds – Ancillary liquidation of foreign insurers
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Terms Used In Alabama Code 27-32-10
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
The commissioner may apply to the court for an order appointing him as ancillary receiver of, and directing him to liquidate, the business of a foreign insurer having assets, business, or claims in this state upon the appointment in the domiciliary state of such insurer of a receiver, liquidator, conservator, rehabilitator, or other officer by whatever name called for the purpose of liquidating the business of such insurer.