Section 10. Notwithstanding any other provision of the General Laws, the commissioner may meet with a supervisor appointed under subsection (A) of section four, and with the attorney or other representative of the supervisor, without the presence of any other person, at the time of any proceeding or during the pendency of any proceeding held […]
Section 2. The provisions of this chapter shall apply to all domestic insurers, and any other insurer doing business in the commonwealth whose state of domicile has requested in writing for the commissioner to apply the provisions of this chapter as regards such insurer.
Section 3. (A) An insurer may be subject to administrative supervision by the commissioner, without a prior hearing, if upon examination or at any other time the commissioner determines that: (1) the insurer’s condition renders the continuance of its business hazardous as defined in subsection (C) to its policyholders or the general public; (2) the […]
Section 4. (A) During the period of supervision, the commissioner or the commissioner’s designee shall serve as the administrative supervisor. The administrative supervisor may impose operating restrictions or requirements on the insurer during the period of administrative supervision which are deemed necessary for the protection of policyholders or the general public. The administrative supervisor may […]
Section 5. (A) If placed under administrative supervision by an order issued pursuant to subsection (E) of section three, the insurer shall have sixty days, or another period of time as designated by the commissioner, to comply with the requirements of the commissioner. (B) If it is determined after notice and hearing that the conditions […]
Section 6. (A) Except as provided in this section, and notwithstanding any other provision of the General Laws, including clause Twenty-sixth of section seven of chapter four and chapter sixty-six, all administrative and judicial proceedings arising under this chapter shall be held privately unless a public hearing is requested by the insurer, and all proceedings, […]
Section 7. An insurer placed under administrative supervision by the commissioner may contest the order, or any part of such order, at any time during the supervision by requesting review of the order by the supreme judicial court for Suffolk county. The insurer must demonstrate that the action taken or proposed to be taken by […]
Section 8. Nothing contained in this chapter shall preclude the commissioner from initiating judicial proceedings to place an insurer in rehabilitation or liquidation proceedings or other delinquency proceedings, however designated under the General Laws, regardless of whether the commissioner has previously initiated administrative supervision proceedings against the insurer.
Section 9. The commissioner may, in accordance with the provisions of chapter thirty A, adopt and promulgate reasonable rules and regulations necessary for the implementation of this chapter.
