If the Board is of the opinion upon examination or from other evidence, that any burial association:
(1) is in an insolvent condition in that it fails and is unable to provide any burial benefit in accordance with the terms and conditions of its burial agreement, or
(2) has not complied with its articles of incorporation or agreement or the provisions of the law applicable to such association, or
(3) is not maintaining its trust fund according to the provisions of this act, or
(4) that its condition or management is such as to render its further proceedings or transaction of business hazardous to the public, or its members, or to its creditors, or
(5) that its treatment and dealings with its members and claimants are not equitable or just, or
(6) has not complied with, or has violated, a written rule or regulation or order promulgated or issued by the Board, it shall apply to the district court of Oklahoma County, through the Attorney General of the state, for an injunction restraining the burial association, in whole or in part, from further proceeding with its business. The court may issue an injunction forthwith and may, after notice to the association, and hearing held, make the injunction perpetual, and make all orders and decrees needful in the premises, and may appoint a person designated by the Board to act for and in its behalf as receiver to take possession of the property and effects of the association and to settle its affairs, subject to such rules and orders as the court from time to time may prescribe.
Laws 1953, p. 133, § 15.