§ 27-35-10 - Receivership. - Rhode-island Statutes

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Statutes > Rhode-island > Title-27 > Chapter-27-35 > 27-35-10

SECTION 27-35-10

§ 27-35-10 Receivership. – Whenever it appears to the commissioner that any person has committed aviolation of this chapter which impairs the financial condition of a domesticinsurer as to threaten insolvency or make the further transaction of businessby it hazardous to its policyholders, creditors, shareholders, or the public,then the commissioner may proceed as provided in chapter 14.3 of this title totake possession of the property of the domestic insurer and to conduct thebusiness of the insurer.

State Codes and Statutes

Statutes > Rhode-island > Title-27 > Chapter-27-35 > 27-35-10

SECTION 27-35-10

§ 27-35-10 Receivership. – Whenever it appears to the commissioner that any person has committed aviolation of this chapter which impairs the financial condition of a domesticinsurer as to threaten insolvency or make the further transaction of businessby it hazardous to its policyholders, creditors, shareholders, or the public,then the commissioner may proceed as provided in chapter 14.3 of this title totake possession of the property of the domestic insurer and to conduct thebusiness of the insurer.

State Codes and Statutes

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State Codes and Statutes

Statutes > Rhode-island > Title-27 > Chapter-27-35 > 27-35-10

SECTION 27-35-10

§ 27-35-10 Receivership. – Whenever it appears to the commissioner that any person has committed aviolation of this chapter which impairs the financial condition of a domesticinsurer as to threaten insolvency or make the further transaction of businessby it hazardous to its policyholders, creditors, shareholders, or the public,then the commissioner may proceed as provided in chapter 14.3 of this title totake possession of the property of the domestic insurer and to conduct thebusiness of the insurer.