26.1-38.1-08. Duties and powers of the commissioner

26.1-38.1-08. Duties and powers of the commissioner

In addition to the duties and powers enumerated elsewhere in this chapter:

1. The commissioner shall:

a. Upon request of the board of directors, provide the association with a statement

of premiums in this and any other appropriate states for each member insurer;

b. When an impairment is declared and the amount of the impairment is determined,

serve a demand upon the impaired insurer to make good the impairment within a

reasonable time; notice to the impaired insurer constitutes notice to its

shareholders, if any; and the failure of the impaired insurer to promptly comply

with such demand does not excuse the association from the performance of its

powers and duties under this chapter; and

c. In any liquidation or rehabilitation proceedings involving a domestic insurer, be

appointed as the liquidator or rehabilitator.

2. The commissioner may suspend or revoke, after notice and hearing, the certificate of

authority to transact business in this state of any member insurer which fails to pay an

assessment when due or fails to comply with the plan of operation. As an alternative,

the commissioner may levy a forfeiture on any member insurer which fails to pay an

assessment when due. Such forfeiture may not exceed five percent of the unpaid

assessment per month, but no forfeiture may be less than one hundred dollars per

month.

3. Any final action of the board of directors or the association may be appealed to the

commissioner by any member insurer if such appeal is taken within sixty days of the

member's receipt of notice of the final action being appealed. Any final action or order

of the commissioner is subject to judicial review in a court of competent jurisdiction in

accordance with the laws of this state which apply to the action or orders of the

commissioner.

4. The liquidator, rehabilitator, or conservator of any impaired or insolvent insurer may

notify any interested persons of the effect of this chapter.