Section 21.78.030. Injunctions and orders.

   (a) A receiver appointed in a proceeding under this chapter may at any time apply for, and a court may grant, a restraining order, preliminary or permanent injunction, or other order considered necessary 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 a 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 a proceeding under this chapter.
   (b) The receiver may apply to a court outside of the state for the relief described in (a) of this section.
   (c) A bond may not be required of the director as a prerequisite to issuing an injunction or restraining order under this section.

Notes

History

(Sec. 1 ch 120 SLA 1966; am Sec. 60 ch 50 SLA 1990)