33-2-1121. Receivership. Whenever it appears to the commissioner that any person has committed a violation of this part 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, then the commissioner may proceed to take possession of the property of such domestic insurer and to conduct the business thereof.
History: En. Sec. 11, Ch. 64, L. 1971; R.C.M. 1947, 40-5519.
Structure Montana Code Annotated
Title 33. Insurance and Insurance Companies
Chapter 2. Regulation of Insurance Companies
Part 11. Affiliation and Merger -- Holding Company Systems -- Own Risk and Solvency Assessment
33-2-1102. Authorization of subsidiaries
33-2-1105. Approval by commissioner -- hearings -- notice
33-2-1106. Exemptions -- violations -- jurisdiction
33-2-1107. through 33-2-1110 reserved
33-2-1111. Registration of insurers -- requisites -- termination
33-2-1112. Exemptions -- disclaimer -- violations
33-2-1113. Transactions with affiliates -- standards
33-2-1114. Dividends and other distributions -- commissioner approval
33-2-1116. Confidentiality of information
33-2-1119. Voting of securities -- prohibition -- injunction -- sequestration
33-2-1122. Revocation, suspension, or nonrenewal of insurer's license
33-2-1123. Judicial review -- mandamus
33-2-1124. Conflict with other laws
33-2-1125. Recovery of dividends
33-2-1126. through 33-2-1129 reserved
33-2-1133. Risk management framework required
33-2-1134. Own risk and solvency assessment required
33-2-1135. ORSA summary report
33-2-1136. ORSA exemptions -- conditions -- waiver -- override
33-2-1140. Groupwide supervision of internationally active insurance groups