N.Y. Insurance Law Section 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.

Source: Section 7412 — Filing and proving of claims of residents against delinquent insurers domiciled in reciprocal states, https://www.­nysenate.­gov/legislation/laws/ISC/7412 (updated Sep. 22, 2014; accessed Oct. 26, 2024).

7401
Application of article
7402
Grounds for rehabilitation of domestic insurer
7403
Order of rehabilitation
7404
Grounds for liquidation
7405
Order of liquidation
7406
Grounds for conservation of assets of foreign or alien insurer
7407
Order of conservation or ancillary liquidation of a foreign or alien insurer
7408
Uniform insurers liquidation act
7409
Conduct of delinquency proceedings against insurers domiciled in this state
7410
Conduct of delinquency proceedings against insurers not domiciled in this state
7411
Filing and proving of claims of non-residents against delinquent insurers domiciled in this state
7412
Filing and proving of claims of residents against delinquent insurers domiciled in reciprocal states
7413
Priority of preferred claims, special deposit claims and secured claims
7414
Attachment and garnishment of assets
7415
Uniformity of interpretation
7416
Grounds for dissolution of domestic insurer
7417
Commencement of a proceeding
7418
Service of order to show cause
7419
Injunctions
7420
Annual report
7421
Removal of proceedings
7422
Appointment of deputies
7423
Exemption from filing fees
7424
Deposit of monies collected
7425
Voidable transfers
7427
Offsets
7428
Disposition of assets and compromise of claims
7429
Borrowing on the pledge of assets
7430
Levy of assessments
7431
Determination of liability of members for other indebtedness
7432
Adjudication of insolvency of insurer
7433
Proof and allowance of claims
7433‑A
Loan to workers’ compensation security fund
7434
Distribution of assets
7435
Distribution for life insurers
7436
Claims-made policies
7437
Qualified financial contracts

Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 7412’s source at nysenate​.gov

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