Sec. 21.78.030. Injunctions and orders.

242 words·~1 min read·/ak/title-21/chapter-78/21-78-030

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)A receiver appointed in a proceeding under this chapter may at any time apply for, and a court may grant, a restraining order, preliminary or permanent injunction, or other order considered necessary to prevent

(1)the transaction of further business;

(2)the transfer of property;

(3)interference with the receiver or with a proceeding under this chapter;

(4)waste of the insurer's assets;

(5)dissipation and transfer of bank accounts;

(6)the institution or further prosecution of any actions or proceedings;

(7)the obtaining of preferences, judgments, attachments, garnishments, or liens against the insurer, its assets, or its policyholders;

(8)the levying of execution against the insurer, its assets, or its policyholders;

(9)the making of a sale or deed for nonpayment of taxes or assessments that would lessen the value of the assets of the insurer;

(10)the withholding from the receiver of books, accounts, documents, or other records relating to the business of the insurer; or

(11)any other threatened or contemplated action that might lessen the value of the insurer's assets or prejudice the rights of policyholders, creditors, or shareholders, or the administration of a proceeding under this chapter.

(b)The receiver may apply to a court outside of the state for the relief described in

(a)of this section.

(c)A bond may not be required of the director as a prerequisite to issuing an injunction or restraining order under this section.