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Insurance Code | |
Insurer Receivership Act | |
Section 507 | Receiver as lien creditor. |
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31A-27a-507. Receiver as lien creditor. (1) The receiver may avoid a transfer of or lien on the property of, or obligation incurred by, an insurer that the insurer or a policyholder, creditor, member, or stockholder of the insurer: (a) may have avoided without regard to any knowledge of: (i) the receiver; (ii) the commissioner; (iii) the insurer; or (iv) a policyholder, creditor, member, or stockholder of the insurer; and (b) whether or not a policyholder, creditor, member, or stockholder described in this Subsection (1) exists. (2) The receiver is considered a creditor without knowledge for purposes of pursuing claims under: (a) Title 25, Chapter 6, Uniform Fraudulent Transfer Act; or (b) similar provisions of state or federal law.
Enacted by Chapter 309, 2007 General Session |
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