Ch. 11

1996 LAWS OF MARYLAND

(2)      IMMEDIATELY MAY RECOVER BALANCES DUE FROM LOCAL
AGENTS AND OBTAIN POSSESSION OF ANY BOOKS AND RECORDS OF THE INSURER
FOUND IN THIS STATE;

(3)      SUBJECT TO SUBSECTION (C)(1) OF THIS SECTION, MAY RECOVER
OTHER ASSETS OF THE INSURER LOCATED IN THIS STATE; AND

(4)      MAY SUE IN THIS STATE TO RECOVER ANY ASSETS OF THE INSURER
TO WHICH THE DOMICILIARY RECEIVER IS ENTITLED UNDER THE LAW OF THIS
STATE.

(C) POWERS AND DUTIES OF ANCILLARY RECEIVER.

(1)      ON APPOINTMENT OF AN ANCILLARY RECEIVER IN THIS STATE, THE
ANCILLARY RECEIVER:

(I)       HAS THE SOLE RIGHT TO RECOVER OTHER ASSETS OF THE
INSURER SPECIFIED IN SUBSECTION (B)(3) OF THIS SECTION DURING THE
ANCILLARY RECEIVERSHIP PROCEEDING;

(II)     SHALL:

1. AS SOON AS PRACTICABLE LIQUIDATE FROM THE
SECURITIES OF THE ANCILLARY RECEIVER THOSE SPECIAL DEPOSIT CLAIMS AND
SECURED CLAIMS THAT ARE PROVED AND ALLOWED IN AN ANCILLARY
PROCEEDING IN THIS STATE; AND

2.        PAY THE NECESSARY EXPENSES OF THE ANCILLARY
PROCEEDING; AND

(III)    SHALL TRANSFER PROMPTLY ALL REMAINING ASSETS TO THE
DOMICILIARY RECEIVER.

(2)      SUBJECT TO PARAGRAPH (1) OF THIS SUBSECTION, THE ANCILLARY
RECEIVER AND DEPUTIES OF THE ANCILLARY RECEIVER HAVE THE SAME POWERS
AND ARE SUBJECT TO THE SAME DUTIES CONCERNING ADMINISTRATION OF THE
ASSETS OF THE INSURER AS A RECEIVER OF AN INSURER DOMICILED IN THIS STATE.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 146.

As to the effect of this section as part of the Uniform Insurers Liquidation
Act, see § 9-202 of this subtitle.

Defined terms: "Agent" § 1-101
"Commissioner" § 1-101
"Delinquency proceeding" § 9-201
"Insurer" § 1-101
"Person" § 1-101
"Receiver" § 9-201
"Reciprocal state" § 9-201

- 270 -