The word comes with states with feel liens up on certain possessions by the reasoning off official processes
(3) For purposes of the term "insolvency" otherwise "insolvent," "liabilities" shall were, not be limited to, supplies necessary for rules otherwise by laws and regulations of one's agencies otherwise particular requirements imposed by the commissioner through to an insurer in the lifetime of entry or subsequent thereto.
"Insurer" includes every person involved while the indemnitor or specialist in the business out-of insurance, medical insurance or out of annuities and every such as for example person subject to the fresh new supervisory expert off, or to liquidation, rehabilitation, reorganization or preservation by, the new commissioner or even the comparable insurance regulator of another county; everybody purporting to get involved just like the indemnitor or specialist inside the firm of life insurance, health insurance otherwise away from annuities in this County; everyone else undergoing team becoming interested due to the fact indemnitor or contractor in the market away from life insurance coverage, medical insurance or away from annuities; and every fraternal benefit neighborhood centered pursuant so you can P.L.1959, c.167 (C.A-step 1 et seq.); most of the mutual work for organization based pursuant in order to R.; all the medical provider enterprise situated pursuant so you can P.L.1938, c.366 (C.-step 1 mais aussi seq.); the wellness provider business oriented pursuant in order to P.L.1985, c.236 (C.E-step 1 mais aussi seq.); most of the scientific service organization created pursuant so you can P.L.1940, c.74 (C.A-step 1 mais aussi seq.); all of the dental care provider corporation oriented pursuant to help you P.L.1968, c.305 (C.C-step 1 mais aussi seq.); every dental package business oriented pursuant to help you P.L.1979, c.478 (C.); and each health repair providers depending pursuant to P.L.1973, c.337 (C.26:2J-1 et seq.).
D-step 1 mais aussi seq
"Well-known claim" setting one claim that's accorded priority out-of payment on the standard possessions of one's insurance company pursuant toward arrangements for the operate.
"Reciprocal condition" setting people county, other than this State, where in the material and impact, subsection a great. off section 17 and you will sections 51, 52 and you can 54 by way of 56 on the operate are in force, along with and therefore provisions have push requiring the brand new administrator or equivalent specialized to get the brand new individual out-of an unpaid insurance provider, and also in and therefore certain provision is present into the avoidance out of fraudulent conveyances and you may preferential transfers.
S.-1 et seq
"Protected allege" setting one allege protected by the home loan, faith action, pledge, deposit given that cover, escrow, otherwise; not also unique deposit claims otherwise says up against standard possessions.
"Unique deposit claim" function any allege shielded of the in initial deposit generated pursuant to help you legislation toward shelter otherwise advantage of a limited class or groups away from persons, yet not as well as one allege covered because of the standard property.
"Transfer" shall include the marketing and every other and different form, head otherwise secondary, from disposing of or regarding parting having, property or with an interest therein, otherwise with the fingers thereof, otherwise out of fixing a lien on possessions otherwise up on an attraction therein, certainly or conditionally, voluntarily, because of the otherwise as opposed to official legal proceeding. The latest retention regarding a security term so you're able to possessions brought to an excellent borrower is going to be considered a transfer suffered by borrower.
5. an excellent. Any recipient appointed when you look at the a heading significantly less than which operate may on anytime make an application for, and Superior Judge may offer, such as for loans Rock Ridge CT example restraining purchases, original and you can permanent injunctions, or other requests because can be deemed expected and you will right in order to prevent:
(9) This new while making of any selling or action for nonpayment away from taxes or assessments who does reduce steadily the property value new possessions regarding this new insurer;
(10) The brand new withholding throughout the receiver off guides, account, records or any other facts relating to the organization of one's insurance carrier; otherwise
(11) All other threatened otherwise contemplated step which could lessen the really worth of the insurer's property otherwise bias the rights off policyholders, creditors or investors, or perhaps the management of every continuing under this operate.
