§ 3691 - Receivership - Vermont Statutes

§ 3691. Receivership

Whenever it appears to the commissioner that any person has committed a violation of this subchapter which 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, then the commissioner may proceed as provided in chapter 145 of this title. (Added 1971, No. 72, § 2; amended 1993, No. 12, § 7, eff. April 26, 1993.)