Section 21. (1) The insolvency fund, subject to the supervisory authority of the commissioner and as provided in the plan of operation, may:
(a) enter into such contracts as are necessary or proper to carry out the provisions and purposes of this chapter;
(b) sue or be sued, including taking any legal actions necessary or proper for recovery of any unpaid assessments;
(c) borrow money to effect the purposes of sections fifteen to thirty, inclusive;
(d) employ or retain such persons as are necessary to handle the financial transactions of the insolvency fund and to perform such other functions as become necessary or proper;
(e) take such legal action as may be necessary to avoid payment of improper claims.
(2) The insolvency fund may join an organization of one or more other state funds or associations of similar purposes, to further the purposes and administer the powers and duties of the insolvency fund.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
