The Commission shall have power to appoint one or more special deputies as its agent and to employ the counsel, clerks, and assistants considered necessary to efficiently conduct the rehabilitation or liquidation. The Commission may delegate to its agent any of its powers which are necessary to carry out the rehabilitation or liquidation. The compensation of the special deputy commissioners, counsel, clerks and assistants, and all expenses relating to the rehabilitation or liquidation of any insurer shall be set by the Commission and upon certification by the Commission be paid out of the insurer's assets.
Code 1950, § 38-141; 1952, c. 317, § 38.1-134; 1986, c. 562.
Structure Code of Virginia
Chapter 15 - Rehabilitation and Liquidation of Insurers
§ 38.2-1502. Jurisdiction and procedure
§ 38.2-1503. Grounds for delinquency proceedings commenced by Commission against domestic insurer
§ 38.2-1504. Requirements when proceedings instituted by any person other than Commission
§ 38.2-1505. Commission may apply for receiver and for other relief; what orders court may enter
§ 38.2-1507. Further procedure; injunction may be issued
§ 38.2-1508. Powers of Commission when authorized to rehabilitate or liquidate companies
§ 38.2-1510. Commission may appoint assistants in connection with rehabilitation or liquidation
§ 38.2-1511. Borrowing on pledge of assets
§ 38.2-1512. Rights and liabilities fixed upon liquidation
§ 38.2-1513. Voidable transfers
§ 38.2-1514. Priority of claims for wages
§ 38.2-1515. Mutual debts or credits, how treated
§ 38.2-1516. Receivers to file reports, etc., with Commission
§ 38.2-1517. What included in annual report of Commission
§ 38.2-1518. Rehabilitation or mutualization of companies
§ 38.2-1519. Termination of rehabilitation; when liquidation may be entered
§ 38.2-1520. Liquidation of alien insurers
§ 38.2-1521. Conservation of assets of foreign or alien insurer; when liquidation may be entered