Pending, during, or after an examination or investigation of any domestic, foreign, or alien society, the commissioner shall make public no financial statement, report, or finding, nor shall the commissioner permit to become public any financial statement, report, or finding affecting the status, standing, or rights of any such society, until a copy thereof has been served upon such society at its home office or until such society has been afforded a reasonable opportunity to answer any such financial statement, report, or finding and to make such showing in connection therewith as it may desire.
Source: L. 93: Entire article amended with relocations, p. 604, § 1, effective July 1.
Editor's note: This section is similar to former § 10-14-130 as it existed prior to 1993. 10-14-607. Grounds for injunction, liquidation, and receivership of domestic society. (1) The commissioner shall notify a domestic society when the commissioner upon investigation finds that a domestic society:
Has exceeded its powers;
Has failed to comply with any provision of this article;
Is not fulfilling its contracts in good faith;
Has a membership of less than four hundred after an existence of one year or more;
Is conducting business fraudulently or in a manner hazardous to its members, creditors, or the public; or
Is using methods which, although not otherwise specifically proscribed by statute,nevertheless renders its operation hazardous, or its condition unsound, to its members or the public.
(2) If the commissioner notifies a society pursuant to subsection (1) of this section, the commissioner may utilize the procedures, practices, standards, and provisions of parts 4 and 5 of article 3 of this title. In applying said provisions, the application of the assessment feature of the certificate shall be first considered.
Source: L. 93: Entire article amended with relocations, p. 605, § 1, effective July 1.