TITLE 27
Insurance
CHAPTER 27-14.3
Insurers' Rehabilitation and Liquidation Act
SECTION 27-14.3-33
§ 27-14.3-33 Claims of holders of void or
voidable rights.
(a) No claims of a creditor who has received or acquired a preference, lien,
conveyance, transfer, assignment, or encumbrance voidable under this chapter
shall be allowed unless he or she surrenders the preference, lien, conveyance,
transfer, assignment, or encumbrance. If the avoidance is effected by a
proceeding in which a final judgment has been entered, the claim shall not be
allowed unless the money is paid or the property is delivered to the liquidator
within thirty (30) days from the date of the entering of the final judgment,
except that the court having jurisdiction over the liquidation may allow
further time if there is an appeal or other continuation of the proceeding.
(b) A claim allowable under § 27-14.3-32(a) by reason of
the avoidance, whether voluntary or involuntary, or a preference, lien,
conveyance, transfer, assignment, or encumbrance, may be filed as an excused
last filing under § 27-14.3-39 if filed within thirty (30) days from the
date of the avoidance, or within the further time allowed by the court under
§ 27-14.3-32(a).
History of Section.
(P.L. 1993, ch. 248, § 1.)
