Minnesota Statutes 60B.61 – Subordination of Claims for Noncooperation
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If an ancillary receiver in another state or foreign country, whether or not called by that name, fails to transfer to the domiciliary liquidator in this state any assets within the receiver’s control other than special deposits, diminished only by the expenses of the ancillary receivership, if any, the claims filed in the ancillary receivership, other than special deposit claims or secured claims, shall be placed in the class of claims under section 60B.44, subdivision 9.
Terms Used In Minnesota Statutes 60B.61
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44