§33-10-4. Injunctions and other orders.
(a) Upon application by the commissioner for an order under
(1) The court may without notice issue an injunction
restraining the insurer, its officers, directors, stockholders,
members, subscribers, agents and all other persons from the
transaction of its business or the waste or disposition of its
property until further order of the court.
(2) The court may at any time during a proceeding under this
article issue other injunctions or orders as may be considered
necessary to prevent interference with the commissioner or the
proceeding, or waste of the assets of the insurer, or the
commencement or prosecution of any actions, or the obtaining of
preferences, judgments, attachments or other liens, or the making
of any levy against the insurer or against its assets or any part
(3) The court may order any managing general agent or
attorney-in-fact to release to the commissioner any books, records,
accounts, documents or other writings relating to the business of
such person: Provided, That any of the same or the property of an
agent or attorney shall be returned when no longer necessary to the
commissioner or at any time the court after notice and hearing
shall so direct.
(b) Any person having possession of and refusing to deliver
any of the books, records or assets of an insurer against whom a seizure order has been issued by the court is guilty of a
misdemeanor and, shall be punished by a fine not exceeding $1,000
or confined in jail not more than one year, or both fined and
(c) Whenever the commissioner makes any seizure as provided in
section three of this article, it is the duty of the sheriff of any
county of this state, and of the police department of any
municipality therein, to furnish the commissioner, upon demand,
with deputies, patrolmen or officers necessary to assist the
commissioner in making and enforcing the seizure.
(d) Notwithstanding any other provision of law, no bond is
required of the commissioner as a prerequisite for the issuance of
any injunction or restraining order pursuant to this section.
(e) Notwithstanding subsections (a) through (d) of this
section or any other provision of this chapter, the commencement of
a delinquency proceeding with respect to an insurer-member does not
operate as a stay, injunction or prohibition of the exercise by a
federal home loan bank of its rights regarding collateral pledged
by the insurer-member.