N.J.S.A. 17B:32-88 — Failure of ancillary receiver to transfer assets

17B:32-88. Failure of ancillary receiver to transfer assets 58. If an ancillary receiver in another state or foreign country, whether called by that name or not, fails to transfer to the domiciliary liquidator in this State any assets within his 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 Class 7 claims pursuant to paragraph (7) of subsection a. of section 41 of this act. L.1992,c.65,s.58.

This is the verbatim text of N.J.S.A. 17B:32-88, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.