N.Y. Insurance Law § 7412: Filing and proving of claims of residents against delinquent insurers domiciled in reciprocal states

§ 7412. Filing and proving of claims of residents against delinquent

insurers domiciled in reciprocal states. (a) In a delinquency proceeding

in a reciprocal state against an insurer domiciled in that state,

claimants residing in this state may file claims either with the

ancillary receiver, if any, appointed in this state, or with the

domiciliary receiver. All such claims must be filed on or before the

last date fixed for the filing of claims in the domiciliary proceeding.

(b) (1) Controverted claims belonging to claimants residing in this

state may be proved either in the domiciliary state as provided by the

law of that state, or in ancillary proceedings, if any, in this state.

(2) If the claimant elects to prove his claim in this state, he shall

file it with the ancillary receiver in the manner provided by the law of

this state for the proving of claims against insurers domiciled in this

state, and he shall give notice in writing to the receiver in the

domiciliary state either by registered mail or by personal service at

least forty days prior to the date set for hearing. The notice shall

contain a concise statement of the amount of the claim, the facts on

which it is based, and the priorities asserted, if any. If the

domiciliary receiver, within thirty days after the giving of such

notice, shall give notice in writing to the ancillary receiver and to

the claimant, either by registered mail or personal service, of his

intention to contest such claim, he shall be entitled to appear or to be

represented in any 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 its amount, and shall also be accepted

as conclusive as to its priority, if any, against special deposits or

other security located within this state.