(a) If it appears to the director that a 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, then the director may proceed as provided in AS 21.78 to take possession of the property of that domestic insurer and to conduct its business.
(b) This section does not apply to a violation involving a security that constitutes an acquisition covered by AS 21.22.065 .
Section: Previous 21.22.100 21.22.105 21.22.110 21.22.115 21.22.120 21.22.130 21.22.140 21.22.150 21.22.160 21.22.170 21.22.175 21.22.180 21.22.190 21.22.200 NextLast modified: November 15, 2016