645.035 – Bankruptcy petition is prohibited.
645.035 Bankruptcy petition is prohibited. (1) In this section, “bankruptcy proceeding” means any proceeding under 11 USC 101 to 1330. (2) No insurer may commence a bankruptcy proceeding in which the insurer is a debtor. (3) No person, including an insurer, may commence a bankruptcy proceeding against an insurer. (4) No board of directors, director […]
645.01 – Short title, construction and purpose.
645.01 Short title, construction and purpose. (1) Short title. This chapter may be cited as the “Insurers Rehabilitation and Liquidation Act”. (2) Construction: no limitation of powers. This chapter shall not be interpreted to limit the powers granted the commissioner by other provisions of the law. (3) Liberal construction. This chapter shall be liberally construed […]