2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 507C - INSURERS SUPERVISION, REHABILITATION, AND LIQUIDATION
507C.56 - CLAIMS OF RESIDENTS AGAINST INSURERS DOMICILED IN RECIPROCAL STATES.

        507C.56  CLAIMS OF RESIDENTS AGAINST INSURERS
      DOMICILED IN RECIPROCAL STATES.
         1.  Promptly after the appointment of the commissioner as
      ancillary receiver for an insurer not domiciled in this state, the
      commissioner shall determine whether there are claimants residing in
      this state who are not protected by guaranty funds and whether the
      protection of such claimants requires the establishing of a claim
      filing procedure in the ancillary proceeding.  If a claim filing
      procedure is established, claimants against the insurer who reside
      within this state may file claims either with the ancillary receiver
      in this state, or with the domiciliary liquidator.  Claims shall be
      filed on or before the last dates fixed for the filing of claims in
      the domiciliary liquidation proceeding.
         2.  Claims belonging to claimants residing in this state may be
      proved either in the domiciliary state under the law of that state,
      or in ancillary proceedings in this state, provided a claim filing
      procedure is established in the ancillary proceeding.  If a claimant
      elects to prove the claim in this state, the claimant shall file the
      claim with the liquidator in the manner provided in sections 507C.35
      and 507C.36.  The ancillary receiver shall make a recommendation to
      the court as under section 507C.43.  The ancillary receiver shall
      also arrange a date for hearing if necessary under section 507C.39
      and shall give notice to the liquidator in the domiciliary state,
      either by certified mail or by personal service at least forty days
      prior to the date set for hearing.  Within thirty days after the
      giving of the notice, if the domiciliary liquidator gives notice in
      writing either by certified mail or by personal service to the
      ancillary receiver and to the claimant of an intention to contest the
      claim, the domiciliary liquidator is entitled to appear or to be
      represented in a proceeding in this state involving the adjudication
      of the claim.
         3.  The final allowance of the claim by the courts of this state
      shall be accepted as conclusive as to amount and as to priority
      against special deposits or other security located in this state.  

         84 Acts, ch 1175, § 56; 92 Acts, ch 1117, § 34
         Referred to in § 507C.2, 507C.55