60D.25 RECEIVERSHIP.
78 words·~1 min read·
/mn/chapter-60/60d-25A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
60D.25 RECEIVERSHIP.
Whenever it appears to the commissioner that any person has committed a violation of this chapter that 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 chapter 60B to take possessions of the property of the domestic insurer and to conduct the business of the domestic insurer.