Section 83-34-12 - Deferment of assessable insurer's recoupable or nonrecoupable assessment; amount deferred to be assessed against other assessable insurers

The recoupable or nonrecoupable assessment of an assessable insurer may, after hearing, be ordered deferred, in whole or in part, upon application by the insurer if, in the opinion of the commissioner, payment of the recoupable or nonrecoupable assessment would render the insurer insolvent or in danger of insolvency, or would otherwise leave the insurer in such a condition that further transaction of the insurer's business would be hazardous to its policyholders, creditors, assessable insurers, subscribers, stockholders or the public. If that payment of a recoupable or nonrecoupable assessment against an assessable insurer is deferred by order of the commissioner, in whole or in part, the amount by which the recoupable or nonrecoupable assessment is deferred shall be assessed against other assessable insurers in the same manner as provided in Section 83-34-9. Laws, 2007, ch. 425, § 13, eff. 3/22/2007.Amended by Laws, 2019, ch. 450, HB 444,§ 7, eff. 7/1/2019.