Section 7410. Conduct of delinquency proceedings against insurers not domiciled in this state

(a) Whenever under the laws of  this  state  an  ancillary  receiver is to be appointed in delinquency proceedings for an
  insurer not domiciled  in  this  state,  the  court  shall  appoint  the
  superintendent  as  ancillary  receiver. The superintendent shall file a
  petition  requesting  the  appointment  if  he  finds  that  there   are
  sufficient  assets  of such insurer located in this state to justify the
  appointment of an ancillary receiver, or if ten or more persons resident
  in this state having claims against such insurer file  a  petition  with
  the   superintendent   requesting  the  appointment  of  such  ancillary
  receiver.
    (b) The domiciliary receiver for the purpose of liquidating an insurer
  domiciled in a reciprocal state, shall be vested  by  operation  of  law
  with  the title to all of the property, contracts, and rights of action,
  and all books and records of the insurer  located  in  this  state,  and
  shall have the immediate right to recover balances due from local agents
  and  obtain  possession of any books and records of the insurer found in
  this state.  He shall also be entitled to recover the  other  assets  of
  the insurer located in this state except that upon the appointment of an
  ancillary  receiver  in  this state, the ancillary receiver shall during
  the ancillary receivership proceedings have the sole  right  to  recover
  such other assets. The ancillary receiver shall, as soon as practicable,
  liquidate  from their respective securities those special deposit claims
  and secured claims  which  are  proved  and  allowed  in  the  ancillary
  proceedings  in  this state, and shall pay the necessary expenses of the
  proceedings. All remaining assets he  shall  promptly  transfer  to  the
  domiciliary  receiver. Subject to the foregoing provisions the ancillary
  receiver and his deputies shall have the same powers and be  subject  to
  the  same duties with respect to the administration of such assets, as a
  receiver of an insurer domiciled in this state.
    (c) The domiciliary receiver of an insurer domiciled in  a  reciprocal
  state  may  sue  in  this state to recover any assets of such insurer to
  which he may be entitled under the laws of this state.