TITLE XXXVII
INSURANCE

CHAPTER 402-C
INSURERS REHABILITATION AND LIQUIDATION

Formal Proceedings

Section 402-C:48

    402-C:48 Termination of Proceedings. –
I. Liquidator's Application. When all assets justifying the expense of collection and distribution have been collected and distributed under this chapter, the liquidator shall apply to the court for discharge. The court may grant the discharge and make any other orders deemed appropriate, including an order to transfer to the state treasury for the credit of the insurance department any remaining funds that are uneconomic to distribute.
II. Application by Others. Any other person may apply to the court at any time for an order under paragraph I. If the application is denied, the applicant shall pay the costs and expenses of the liquidator in resisting the application, including a reasonable attorney's fee.

Source. 1969, 272:1, eff. June 23, 1969.