West Virginia Code 33-10-7 – Grounds for conserving assets of foreign insurers
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The commissioner 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 West Virginia Code 33-10-7
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
(a) Upon any of the grounds specified in sections five or six of this article; or
(b) Upon the ground that its property has been sequestrated in its domiciliary state or in any other state.