                                 CODE OF VIRGINIA

FURTHER PROCEDURE; INJUNCTION MAY BE ISSUED (§ 38.2-1507)

The court may issue an injunction restraining the insurer and its officers,
directors, stockholders, members, trustees, agents, employees and all other
persons from transacting any business of the insurer, and from transferring,
removing or disposing of its property or business until a further order of the
court. The injunction may be issued on or after the institution of any
delinquency proceeding, except where the rehabilitation or liquidation of the
insurer has been referred to the Commission. If the Commission is authorized to
proceed with the rehabilitation or liquidation, it may issue injunctions or
enter any other appropriate order for the protection of the insurer&#8217;s
policyholders and creditors and the preservation of its property.

HISTORY: Code 1950, § 38-139; 1952, c. 317, § 38.1-132; 1986, c. 562.