33-10-219. Impaired insurer -- association's powers prior to liquidation. If an insurer is an impaired insurer, the association may, prior to an order of liquidation or rehabilitation and subject to any conditions imposed by the association other than those which impair the contractual obligations of the impaired insurer and approved by the impaired insurer and the commissioner:
     (1) guarantee or reinsure or cause to be guaranteed, assumed, or reinsured all the covered policies of the impaired insurer;
     (2) provide such moneys, pledges, notes, guarantees, or other means as are proper to effectuate this section and assure payment of the contractual obligations of the impaired insurer pending action under subsection (1); and
     (3) loan money to the impaired insurer.

     History: En. 40-5808 by Sec. 8, Ch. 245, L. 1974; R.C.M. 1947, 40-5808(1), (2); amd. Sec. 140, Ch. 575, L. 1981; amd. Sec. 4, Ch. 576, L. 1987.