Title 08, Banking and Insurance

§ 3686. Examination (a) Power of Commissioner. Subject to the limitation contained in this section and in addition to the powers that the Commissioner has under subchapter 7 of this chapter relating to the examination of insurers, the Commissioner shall also have the power to exa…

§ 3687. Confidential treatment (a) Documents, materials, or other information in the possession or control of the Department that are obtained by or disclosed to the Commissioner or any other person in the course of an examination or investigation made pursuant to section 3686 of…

§ 3688. Rules and regulations The Commissioner may, upon notice and opportunity for all interested persons to be heard, issue such rules, regulations, and orders as shall be necessary to carry out the provisions of this subchapter. (Added 1971, No. 72, § 2.)

§ 3689. Injunctions; prohibitions against voting securities; sequestration of voting securities (a) Injunctions. Whenever it appears to the Commissioner that any insurer or any director, officer, employee, or agent thereof has committed or is about to commit a violation of this s…

§ 3690. Sanctions (a) Any insurer failing, without just cause, to file any registration statement as required in this subchapter shall be required, after notice and hearing, to pay a penalty of not more than $1,000.00 for each day’s delay, to be recovered by the Commissioner of F…

§ 3691. Receivership Whenever it appears to the Commissioner that any person has committed a violation of this subchapter that 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 pol…

§ 3692. Revocation, suspension, or nonrenewal of insurer’s license Whenever it appears to the Commissioner that any person has committed a violation of this subchapter that makes the continued operation of an insurer contrary to the interests of policyholders or the public, the C…

§ 3693. Judicial review (a) Any person aggrieved by any act, determination, rule, regulation, or order or any other action of the Commissioner pursuant to this subchapter may appeal therefrom to the Superior Court. The Court shall conduct its review without a jury and by trial de…

§ 3694. Recovery (a) If an order for liquidation or rehabilitation of a domestic insurer has been entered, the receiver appointed under such order shall have a right to recover on behalf of the insurer where the distribution or payment pursuant to subdivision (1) or (2) of this s…

§ 3695. Supervisory colleges (a) Power of Commissioner. With respect to any insurer registered under section 3684 of this title and in accordance with subsection (c) of this section, the Commissioner shall also have the power to participate in a supervisory college for any domest…

§ 3696. Groupwide supervisor; internationally active insurance group (a)(1) The Commissioner is authorized to act as the groupwide supervisor for any internationally active insurance group. The Commissioner, however, may acknowledge another regulatory official as the supervisor, …