2004 Minnesota Code
Chapters 59A - 79A Insurance
Chapter 60B Insurers Rehabilitation and Liquidation
Section 60B.16 Rehabilitation orders.
60B.16 Rehabilitation orders.
Subdivision 1. Appointment of rehabilitator. An order to rehabilitate the business of a domestic insurer, or an alien insurer domiciled in this state, shall appoint the commissioner and successors in office rehabilitator and shall direct the rehabilitator forthwith to take possession of the assets of the insurer and to administer them under the orders of the court. The filing or recording of the order with any county recorder in the state imparts the same notice as a deed, bill of sale, or other evidence of title duly filed or recorded with that county recorder.
Subd. 2. Anticipatory breach. Entry of an order of rehabilitation shall not constitute an anticipatory breach of any contracts of the insurer.
HIST: 1969 c 708 s 16; 1976 c 181 s 2; 1986 c 444
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