|
§1710
|
§1710 . Superintendent's power to order disposition of subsidiaries. In addition to the powers granted to the superintendent elsewhere in this chapter (including, without limitation, §109 and §327 of this chapter), the superintendent may, at any time, order a parent corporation to dispose of any subsidiary, if the superintendent finds, after notice and an opportunity to be heard, either (i) that its acquisition or continued retention is or was not permitted by the provisions of this article or (ii) except in the case of a subsidiary then exempted by the provisions of subsection §1704(a) or §1704(b) of this article, that its continued retention is materially adverse to the interests of the parent corporation's policyholders or subscribers. Source Data downloaded: 2009-04-09 14: 39: 55; Processed: 2009-05-08 15: 35: 51
|