The director may apply to the court for an order appointing him as receiver or ancillary receiver, and directing him to conserve the assets within this state, of a foreign insurer upon any of the following grounds:

Terms Used In Arizona Laws 20-617

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Court: means , unless the context otherwise requires, the judge of the superior court assigned to the delinquency proceeding. See Arizona Laws 20-611
  • Insurer: means any person, firm, corporation, association or aggregation of persons doing an insurance business and subject to the insurance supervisory authority of, or to liquidation, rehabilitation, reorganization or conservation by the director or the equivalent insurance supervisory official of another state. See Arizona Laws 20-611
  • Property: includes both real and personal property. See Arizona Laws 1-215
  • Receiver: means the director as receiver, liquidator, rehabilitator or conservator as the context may require. See Arizona Laws 20-611
  • State: means any state of the United States, the District of Columbia and the territories and possessions of the United States. See Arizona Laws 20-611

1. Upon any of the grounds specified in sections 20-615 or 20-616.

2. Upon the ground that its property has been sequestrated in its domiciliary sovereignty or in any other sovereignty.

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