§ 27-35-10. Receivership.
Whenever it appears to the commissioner that any person has committed a violation of this chapter which 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 as provided in chapter 14.3 of this title to take possession of the property of the domestic insurer and to conduct its business.
History of Section.P.L. 1971, ch. 273, § 1; P.L. 2011, ch. 15, § 2; P.L. 2011, ch. 26, § 2.
Structure Rhode Island General Laws
Chapter 27-35 - Insurance Holding Company Systems
Section 27-35-1. - Definitions.
Section 27-35-1.5. - Subsidiaries of insurer.
Section 27-35-2. - Acquisition of control of or merger with domestic insurer.
Section 27-35-2.5. - Acquisitions involving insurers not otherwise covered.
Section 27-35-3. - Registration of insurers.
Section 27-35-4. - Standards and management of an insurer within a holding company system.
Section 27-35-5. - Examination.
Section 27-35-5.5. - Group supervision.
Section 27-35-6. - Confidential treatment.
Section 27-35-7. - Rules and regulations.
Section 27-35-10. - Receivership.
Section 27-35-10.5. - Recovery.
Section 27-35-11. - Revocation, suspension, or nonrenewal of insurer’s license.
Section 27-35-12. - Judicial review — Mandamus.