§ 38.2-1507. Further procedure; injunction may be issued
The court may issue an injunction restraining the insurer and its officers, directors, stockholders, members, trustees, agents, employees and all other persons from transacting any business of the insurer, and from transferring, removing or disposing of its property or business until a further order of the court. The injunction may be issued on or after the institution of any delinquency proceeding, except where the rehabilitation or liquidation of the insurer has been referred to the Commission. If the Commission is authorized to proceed with the rehabilitation or liquidation, it may issue injunctions or enter any other appropriate order for the protection of the insurer's policyholders and creditors and the preservation of its property.
(Code 1950, § 38-139; 1952, c. 317, § 38.1-132; 1986, c. 562.)
Sections: Previous 38.2-1500 38.2-1501 38.2-1502 38.2-1503 38.2-1504 38.2-1505 38.2-1506 38.2-1507 38.2-1508 38.2-1509 38.2-1510 38.2-1511 38.2-1512 38.2-1513 38.2-1514 NextLast modified: April 3, 2009