521G.8 - SUPERVISION, REHABILITATION, OR LIQUIDATION OF A PROTECTED CELL COMPANY.
521G.8 SUPERVISION, REHABILITATION, OR LIQUIDATION OF A PROTECTED CELL COMPANY. Upon an order of supervision, rehabilitation, or liquidation of a protected cell company, a receiver shall manage a protected cell company's assets and liabilities, including protected cell assets and protected cell liabilities, as provided in this chapter. An amount recoverable by a receiver under a protected cell company insurance securitization shall not be reduced or diminished as a result of the entry of an order of supervision, rehabilitation, or liquidation with respect to the protected cell company, notwithstanding contrary provisions in a contract or other document governing the protected cell company insurance securitization.
Section History: Recent Form 2000 Acts, ch 1046, §8