Section 27-2-55 Assumption by receiver of certain former powers, duties, etc., of commissioner. - Alabama Statutes

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Section 27-2-55

Assumption by receiver of certain former powers, duties, etc., of commissioner.

All duties, rights, power, authority and responsibility placed upon the Commissioner of Insurance by Sections 27-32-15 through 27-32-36, or by future law, as receiver of an insurer shall be vested in and assumed by the receiver appointed pursuant to this article, however, nothing herein shall divest the commissioner of the authority to examine insurers for solvency and to institute delinquency proceedings pursuant to law.

(Acts 1975, No. 1039, p. 2083, §4.)

State Codes and Statutes

Statutes > Alabama > Title27 > Chapter2 > 27-2-55

Section 27-2-55

Assumption by receiver of certain former powers, duties, etc., of commissioner.

All duties, rights, power, authority and responsibility placed upon the Commissioner of Insurance by Sections 27-32-15 through 27-32-36, or by future law, as receiver of an insurer shall be vested in and assumed by the receiver appointed pursuant to this article, however, nothing herein shall divest the commissioner of the authority to examine insurers for solvency and to institute delinquency proceedings pursuant to law.

(Acts 1975, No. 1039, p. 2083, §4.)

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State Codes and Statutes

Statutes > Alabama > Title27 > Chapter2 > 27-2-55

Section 27-2-55

Assumption by receiver of certain former powers, duties, etc., of commissioner.

All duties, rights, power, authority and responsibility placed upon the Commissioner of Insurance by Sections 27-32-15 through 27-32-36, or by future law, as receiver of an insurer shall be vested in and assumed by the receiver appointed pursuant to this article, however, nothing herein shall divest the commissioner of the authority to examine insurers for solvency and to institute delinquency proceedings pursuant to law.

(Acts 1975, No. 1039, p. 2083, §4.)