Title -- Construction -- Commissioner's powers.

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  • (1) This chapter is known as the "Delinquency Administrative Action Provisions."
  • (2) The proceedings authorized by this part may be applied to:
    • (a) all insurers and reinsurers:
      • (i) who are doing, or have done, an insurance business in this state; and
      • (ii) against whom claims arising from that business may exist;
    • (b) all insurers who have the appearance of or claim they do an insurance business in this state;
    • (c) all insurers who have insureds resident in this state; and
    • (d) all other persons organized or in the process of organizing to do an insurance business as an insurer in this state.
  • (3) This part shall be liberally construed to protect the interests of insureds, creditors, and the public generally, with minimum interference with the normal prerogatives of owners, through:
    • (a) early detection of any potentially dangerous condition in an insurer;
    • (b) prompt application of appropriate regulatory corrective measures; and
    • (c) regulation of the insurance business by law relating to insolvency of insurers and by substantive rules on the entire insurance business.
  • (4) This part does not limit the powers granted the commissioner by other provisions of law.




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