Minnesota Statutes 60B.29 – Collection and List of Assets
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Subdivision 1.List of assets required.
As soon as practicable after the liquidation order, the liquidator shall prepare in duplicate a list of the insurer’s assets. The list shall be amended or supplemented as the court requires. One copy shall be filed in the office of the court administrator of the court having jurisdiction over the liquidation proceedings and one copy shall be retained for the liquidator’s files. All amendments and supplements shall be similarly filed.
Subd. 2.Liquidation of assets.
Terms Used In Minnesota Statutes 60B.29
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- court administrator: means the court administrator of the court in which the action or proceeding is pending, and "court administrator's office" means that court administrator's office. See Minnesota Statutes 645.44
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
Terms Used In Minnesota Statutes 60B.29
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- court administrator: means the court administrator of the court in which the action or proceeding is pending, and "court administrator's office" means that court administrator's office. See Minnesota Statutes 645.44
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
The liquidator shall reduce the assets to a degree of liquidity that is consistent with the effective execution of the liquidation as rapidly and economically as the liquidator can.