§ 7-804. Delinquency proceedings

Latest version.

If the Commissioner finds that a violation of this title impairs the financial condition of a domestic insurer so as to threaten insolvency or make the further transaction of business hazardous to policyholders, creditors, shareholders, or the public, the Commissioner may institute proceedings in accordance with Title 9, Subtitle 2 of this article to take possession of the domestic insurer's property and conduct its business.

HISTORY: An. Code 1957, art. 48A, § 500A; 1995, ch. 36; 1996, ch. 60.

                    
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