Provision of information and advice relating to financial condition of insurers.
1. The Board of Directors may, upon majority vote, notify the Commissioner of any information indicating any member insurer may be impaired or insolvent.
2. The Board may, upon majority vote, make reports and recommendations to the Commissioner upon any matter germane to the solvency, liquidation, rehabilitation or conservation of any member insurer or germane to the solvency of any person seeking admission to transact insurance in this state. These reports and recommendations are not open to public inspection.
3. The Commissioner may seek the advice and recommendations of the Board concerning any matter affecting his duties and responsibilities regarding the financial condition of member insurers and of persons seeking admission to transact insurance in this state.
4. The Board may, upon majority vote, make recommendations to the Commissioner for the detection and prevention of the insolvency of insurers.
Last modified: February 27, 2006