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29.0210 Investigation of persons transacting insurance.

Cite as [A.S.C.A. § 29.0210]

The Commissioner, whenever he deems it advisable in the interest of policyholders or for the public good, shall investigate into the affairs of any person engaged in, proposing to engage in, or claiming or advertising to engage in:

(1) transacting insurance in this territory;

(2) organizing or receiving subscriptions for, or disposing of the stock of, or in any manner taking part in the formation or business of, an insurer; or

(3) holding capital stock of one or more insurers for the purpose of controlling the management thereof as for the trustee or otherwise.

History: 1974, PL 13-58 § 1.