KRS 304.33-530: Foreign domiciliary receivers in other states.

(1) Property rights and title: reciprocal state. The domiciliary liquidator of an insurer

domiciled in a reciprocal state shall be vested by operation of law with the title to

all of the property, contracts and rights of action, and all of the books, accounts and

other records of the insurer located in this state. The date of vesting shall be the date

of the filing of the petition, if that date is specified by the domiciliary law for the

vesting of property in the domiciliary state; otherwise, the date of vesti ng shall be

the date of entry of the order directing possession to be taken. The domiciliary

liquidator shall have the immediate right to recover balances due from agents and to

obtain possession of the books, accounts and other records of the insurer loca ted in

this state. The domiciliary liquidator also shall have the right to recover the other

assets of the insurer located in this state, subject to subsection (3) of KRS 304.33 -

540.

(2) Property rights and title: state not a reciprocal state. If a domicil iary liquidator is

appointed for an insurer not domiciled in a reciprocal state, the commissioner of

this state shall be vested by operation of law with the title to all of the property,

contracts and rights of action, and all of the books, accounts and other records of the

insurer located in this state, at the same time that the domiciliary liquidator is vested

with title in the domiciling state. The commissioner of this state may petition for a

conservation or liquidation order under KRS 304.33 -510 or 304 .33-520, or for an

ancillary receivership under KRS 304.33 -540, or after approval by the Franklin

County Circuit Court, may transfer title to the domiciliary liquidator, as the interests

of justice and the equitable distribution of the assets require.

(3) Filing claims. Claimants residing in this state may file claims with the liquidator or

ancillary receiver, if any, in this state or with the domiciliary liquidator, if the

domiciliary law permits. The claims must be filed on or before the last date fixed

for the filing of claims in the domiciliary liquidation proceedings.