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The Vermont Statutes Online
Title
08
:
Banking and Insurance
Chapter
145
:
SUPERVISION, REHABILITATION, AND LIQUIDATION OF INSURERS
Subchapter
001
:
GENERAL PROVISIONS
§
7033. Injunctions and orders
(a) A receiver
appointed in a proceeding under this chapter may at any time apply for, and any
court of general jurisdiction may grant, restraining orders, preliminary and
permanent injunctions, and other orders as may be deemed necessary and proper
to prevent:
(1) the
transaction of further business;
(2) the transfer
of property;
(3) interference
with the receiver or with a proceeding under this chapter;
(4) waste of the
insurer's assets;
(5) dissipation
and transfer of bank accounts;
(6) the
institution or further prosecution of any actions or proceedings;
(7) the
obtaining of preferences, judgments, attachments, garnishments, or liens
against the insurer, its assets or its policyholders;
(8) the levying
of execution against the insurer, its assets or its policyholders;
(9) the making
of any sale or deed for nonpayment of taxes or assessments that would lessen
the value of the assets of the insurer;
(10) the
withholding from the receiver of books, accounts, documents, or other records
relating to the business of the insurer; or
(11) any other
threatened or contemplated action that might lessen the value of the insurer's
assets or prejudice the rights of policyholders, creditors, or shareholders, or
the administration of any proceeding under this chapter.
(b) The receiver
may apply to a court outside the State for the relief described in subsection
(a) of this section. (Added 1991, No. 45, § 2, eff. May 29, 1991.)