Subordination of Claims for Non-cooperation

Act 285 of 1921, § 562, under "INSURANCE DEPARTMENT ACT OF 1921, THE".

Act 285 of 1921, § 562

Section 562. Subordination of Claims for Non-cooperation.--If an ancillary receiver in another state or foreign country, whether called by that name or not, fails to transfer to the domiciliary liquidator in this Commonwealth any assets within his control other than special deposits, diminished only by the expenses of the ancillary receivership, if any, the claims filed in the ancillary receivership, other than special deposit claims or secured claims, shall be placed in the class of claims under section 544(f).

(562 added Dec. 14, 1977, P.L.280, No.92)