Sec. 10. Whenever it appears to the commissioner that any person has committed a violation of this chapter which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders or the public, the commissioner may proceed as provided in the insurance laws of this state to take possession of the property of such domestic insurer and to conduct the business thereof. A determination made under this section must be accompanied by specific findings of fact and conclusions of law.
Formerly: Acts 1971, P.L.387, SEC.1. As amended by Acts 1981, P.L.244, SEC.9; P.L.26-1991, SEC.16.
Structure Indiana Code
Article 1. Department of Insurance
Chapter 23. Regulation of Insurance Holding Company Systems
27-1-23-1.5. Dividend Payments; Notice; Content
27-1-23-2.6. Primary and Subsidiary Companies
27-1-23-5. Examination of Registered Insurer Records; Liability for Expenses; Noncompliance
27-1-23-5.1. Supervisory College
27-1-23-5.3. Internationally Active Insurance Group; Group Wide Supervisor
27-1-23-6. Confidential and Privileged Information; Sharing of Information; Requirements
27-1-23-8. Enjoining Violations; Seizure or Sequestration of Securities
27-1-23-8.1. Violations; Penalties
27-1-23-10. Seizure of Property of Domestic Insurer
27-1-23-10.5. Receiver's Right to Recover Upon Liquidation or Rehabilitation
27-1-23-11. Denial, Suspension, or Revocation of License or Authority to Do Business
27-1-23-12. Review of Actions of Commissioner; Stay; Mandamus