382.280. Director to take possession, when.
Director to take possession, when.
382.280. Whenever it appears to the director that any personhas committed a violation of sections 382.010 to 382.300 which soimpairs the financial condition of a domestic insurer as tothreaten insolvency or make the further transaction of businessby it hazardous to its policyholders, creditors, shareholders orthe public, then the director may proceed as provided by law totake possession of the property of such domestic insurer and toconduct the business thereof.
(L. 1971 S.B. 101 § 31)