US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 36
                        INSURANCE GUARANTY ASSOCIATION
    41-3610.  DUTIES AND POWERS OF DIRECTOR -- JUDICIAL REVIEW. (1) The
director shall:
    (a)  Notify the association of the existence of an insolvent insurer not
    later than three (3) days after he receives notice of the determination of
    the insolvency. The association shall be entitled to a copy of any
    complaint seeking an order of liquidation with a finding of insolvency
    against a member company at the same time that such complaint is filed
    with a court of competent jurisdiction.
    (b)  Upon request of the board of directors, provide the association with
    a statement of the net direct written premiums of each member insurer.
    (2)  The director may:
    (a)  Suspend or revoke, after notice and hearing, the certificate of
    authority to transact insurance in this state of any member insurer which
    fails to pay an assessment when due or fails to comply with the plan of
    operation. As an alternative, the director may levy a fine on any member
    insurer which fails to pay an assessment when due. Such fine shall not
    exceed five per cent (5%) of the unpaid assessment per month, except that
    no fine shall be less than one hundred dollars ($100) per month.
    (b)  Revoke the designation of any servicing facility if he finds claims
    are being handled unsatisfactorily.
    (3)  Any final action or order of the director under this act shall be
subject to judicial review in a court of competent jurisdiction.