Appointment of supervisor - Acts prohibited - Additional requirements

A. During any period of supervision, the Commissioner may appoint a supervisor for such insurer and provide that the insurer may not do any of the following things without the prior approval of the Commissioner or his supervisor: 1. Dispose, convey or encumber any of its assets or its business in force; 2. Withdraw funds from bank accounts; 3. Lend funds; 4. Invest funds; 5. Transfer property; 6. Incur any debt, obligation or liability; 7. Merge or consolidate with another company; or 8. Enter into any new reinsurance contract or treaty. B. In addition, the Commissioner may require of the insurer, the following: 1. Periodic actuarial reviews; 2. That the insurer limit or cease writing certain lines of insurance. Amended by Laws 1986, c. 251, § 28, eff. Nov. 1, 1986.