2006 New York Code - Order Of Conservation Or Ancillary Liquidation Of A Foreign Or Alien Insurer.

 
    § 7407. Order of conservation or ancillary liquidation of a foreign or
  alien insurer. (a) An order to conserve the assets of a foreign or alien
  insurer shall direct the superintendent and his successors in office, as
  conservator,   forthwith  to  take  possession  of,  and  conserve,  the
  insurer's property within this state, subject  to  the  court's  further
  direction.
    (b)  Where  the  superintendent  has  been  appointed  pursuant to the
  provisions of section seven thousand four hundred six of this article as
  conservator of the assets  within  the  state  of  a  foreign  or  alien
  insurer,  for which a domiciliary receiver is subsequently appointed for
  such insurer in its domiciliary state which is also a reciprocal  state,
  as defined in section seven thousand four hundred eight of this article,
  the  superintendent,  upon  request  of the domiciliary receiver, shall,
  notwithstanding subsection (a) of section seven  thousand  four  hundred
  ten  of  this  article,  apply  to  the court in which such conservation
  proceeding was commenced for an order appointing the  superintendent  as
  ancillary receiver for such foreign or alien insurer.
    (c)  Whenever  a  domiciliary receiver is appointed for any insurer in
  its domiciliary state which is also a reciprocal state,  as  defined  in
  section   seven  thousand  four  hundred  eight  of  this  article,  the
  superintendent,  upon  request  of  the  domiciliary  receiver,   shall,
  notwithstanding  subsection  (a)  of section seven thousand four hundred
  ten of this article, apply to a court of competent jurisdiction  for  an
  order  appointing  the  superintendent  as  ancillary  receiver  of such
  insurer.
    (d) Notwithstanding subsection (a)  of  section  seven  thousand  four
  hundred  ten  of  this  article, the court may on the application of the
  superintendent pursuant to subsection (b) or (c) of this section appoint
  the superintendent as the ancillary receiver in this state,  subject  to
  the  provisions  of  sections  seven thousand four hundred eight through
  seven thousand four hundred fifteen of  this  article.  Subject  to  the
  provisions of such sections, the rights and duties of the superintendent
  with  reference  to  such  insurer  and  such assets shall include those
  heretofore exercised by and imposed upon ancillary receivers of  foreign
  corporations in this state.