§ 48.31B.055. Violations of chapter -- Impairment of financial condition -- Commissioner may take possession
Whenever it appears to the commissioner 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, the commissioner may proceed as provided in RCW 48.31.030 and 48.31.040 to take possession of the property of the domestic insurer and to conduct the business of the insurer.
[1993 c 462 § 12.]
Sections: Previous 48.31B.015 48.31B.020 48.31B.025 48.31B.030 48.31B.035 48.31B.040 48.31B.045 48.31B.050 48.31B.055 48.31B.060 48.31B.065 48.31B.070 48.31B.900 48.31B.901 48.31B.902 NextLast modified: April 7, 2009