Tap any paragraph to write a margin note. Your notes collect in the Desk below the text and file under cases with @. The side-by-side margin rail opens on a larger screen.

§
Marginalia
Code · Vermont · Title 8 — Banking and Insurance · Chapter 145

§ 7093.

380 words·~2 min read·/vt/title-8/chapter-145/7093

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

§ 7093. Domiciliary liquidators in other states
(a)The domiciliary liquidator of an insurer domiciled in a reciprocal state shall, except as to special deposits and security on secured claims under subsection 7094(c) of this title, be vested by operation of law with the title to all of the assets, property, contracts, and rights of action, agents’ balances, and all of the books, accounts, and other records of the insurer located in this State. The date of vesting shall be the date of the filing of the petition, if that date is specified by the domiciliary law for the vesting of property in the domiciliary state. Otherwise, the date of vesting shall be the date of entry of the order directing possession to be taken. The domiciliary liquidator shall have the immediate right to recover balances due from agents and to obtain possession of the books, accounts, and other records of the insurer located in this State. He or she also shall have the right to recover all other assets of the insurer located in this State, subject to section 7094 of this title.
(b)If a domiciliary liquidator is appointed for an insurer not domiciled in a reciprocal state, the Commissioner of this State shall be vested by operation of law with the title to all of the property, contracts, and rights of action, and all of the books, accounts, and other records of the insurer located in this State, at the same time that the domiciliary liquidator is vested with title in the domicile. The Commissioner of this State may petition for a conservation or liquidation order under section 7091 or 7092 of this title, or for an ancillary receivership under section 7094 of this title, or after approval by the Superior Court of Washington County may transfer title to the domiciliary liquidator, as the interests of justice and the equitable distribution of the assets require.
(c)Claimants residing in this State may file claims with the liquidator or ancillary receiver, if any, in this State or with the domiciliary liquidator, if the domiciliary law permits. The claims must be filed on or before the last date fixed for the filing of claims in the domiciliary liquidation proceedings. (Added 1991, No. 45, § 2, eff. May 29, 1991.)
★   the supreme law of the land   ★
Don't Tread on Me
E Pluribus Unum — out of many, one

"If you don't know your rights, you don't have any."

Marginalia · a citizen's law index
A research desk, not legal advice. Always read the cited source before relying on a summary.
Questions or an issue? support@self-law.org
disclaimerMarginalia is a research index, not a law firm. Nothing on this site is legal, tax, or financial advice and no attorney–client relationship is formed by using it. Statutes, regulations, and case law change; summaries, search results, AI output, and member posts may be incomplete, out of date, or wrong. Any interpretation drawn from material on this site should be validated by a licensed attorney in your jurisdiction before you act on it.