§36-6421. Dissolution of Association - Reimplementation.
152 words·~1 min read·
/ok/title-36-insurance/36-6421·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If at any time after the provisions of this act are implemented, either by voluntary plan or as otherwise provided for herein, the State Insurance Commissioner would determine by written order that there was no further need for such Association, then the same would be dissolved. Provided however, that if such Association were dissolved, and then the State Insurance Commissioner determined at a later time there existed a need for such Association, the Commissioner of Insurance would then proceed according to the provisions of Section 53 of this act, and that section would again be applicable at that time.
If the Commissioner makes such a determination to reimplement the Association, he will give the companies involved ninety
(90)days to comply, and if they fail to do so, then Sections 47 through 55 of this act would be applicable. Added by Laws 1986, c. 251, § 54, emerg. eff. June 13, 1986.