Section 14. If, after examination, it appears that a licensee is insolvent or that its capital is impaired or that its condition is such as to render the continuance of its business hazardous to the public or to those having funds in its custody, the commissioner shall apply or, if a licensee appears to have exceeded his powers or failed to comply with any provision of law, the commissioner may apply to the supreme judicial court to restrain such licensee from further proceeding with its business and to make such further order or decree as the court deems necessary. The court may appoint one or more receivers to take possession of the property and effects of such licensee, subject to such directions as may from time to time be prescribed by the court.
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.
