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, creditors, shareholders or the public, the commissioner may proceed as provided in Sections 83-23-1, 83-23-3, 83-23-5 and 83-23-7 to take possession of the property of such domestic insurer and to conduct the business thereof.
Structure Mississippi Code
Chapter 6 - Registration and Examination of Insurers
§ 83-6-9. Registration statement; report of material changes or additions on amendment forms
§ 83-6-13. Insurer may register on behalf of affiliated insurer, when
§ 83-6-17. Disclaimer of affiliation; effect of filing; disallowance
§ 83-6-19. Failure to file registration statement or amendment as violation
§ 83-6-22. Acquisitions involving insurers not otherwise covered
§ 83-6-23. Factors to be considered in determining reasonableness of insurer's surplus
§ 83-6-31. Rules, regulations and orders
§ 83-6-35. Willful violations; criminal proceedings; punishment
§ 83-6-37. When commissioner may take possession and conduct business of domestic insurer
§ 83-6-39. Suspension, revocation or refusal to renew license or certificate of authority
§ 83-6-43. Certain laws superseded; remedies to be construed as supplemental
§ 83-6-47. Group-wide supervision of internationally active insurance groups