The commissioner may apply for an order directing him or her to conserve the assets within this state of a foreign insurer upon any one or more of the following grounds:

1. (1) Upon any of the grounds specified in items (1) to (9) inclusive of RCW 48.31.030 and in item (2) of RCW 48.31.050.
2. (2) That its property has been sequestrated in its domiciliary sovereignty or in any other sovereignty.

[ 2009 c 549 s 7125; 1947 c 79 s .31.08; Rem. Supp. 1947 s 45.31.08.]