Insurance Law 7417 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 7416 Grounds for dissolution of domestic insurer up ARTICLE 74 Rehabilitation, Liquidation, Conservation and Dissolution of Insurers next SECTION 7418 Service of order to show cause Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 7417 Commencement of a proceeding Insurance (ISC) CHAPTER 28, ARTICLE 74 § 7417. Commencement of a proceeding. The superintendent represented by the attorney general shall commence any proceeding under this article by an application to the supreme court, in the judicial district in which the principal office of the insurer is located, for an order directing such insurer to show cause why the superintendent should not have the requested relief. On the return of such order, and after a full hearing, which shall be held without delay, such court shall either deny the application or grant it together with such other relief as the nature of the case and the interests of policyholders, creditors, shareholders, members, or the public may require.