Insurer subject to delinquency proceedings--Surrender of deposited assets and securities to authorized officer of court

If the insurer is subject to delinquency proceedings as defined in this title, upon the order of a court of competent jurisdiction, the director shall yield the assets and securities held on deposit to the receiver, conservator, rehabilitator, or liquidator of the insurer, or to any other properly designated official. Source: SL 1966, ch 111 , ch 7, § 14 (4).