83-34-12 - Deferment of assessable insurer's regular assessment; amount deferred to be assessed against other assessable insurers.
§ 83-34-12. Deferment of assessable insurer's regular assessment; amount deferred to be assessed against other assessable insurers.
The regular assessment of a assessable insurer may, after hearing, be ordered deferred, in whole or in part, upon application by the insurer if, in the opinion of the commissioner, payment of the assessment would render the insurer insolvent or in danger of insolvency, or would otherwise leave the insurer in such a condition that further transaction of the insurer's business would be hazardous to its policyholders, creditors, assessable insurers, subscribers, stockholders or the public. If that payment of an assessment against an assessable insurer is deferred by order of the commissioner, in whole or in part, the amount by which the assessment is deferred shall be assessed against other assessable insurers in the same manner as provided in Section 83-34-9.
Sources: Laws, 2007, ch. 425, § 13, eff from and after passage (approved Mar. 22, 2007.)