8 V.S.A. § 3691: Receivership

Whenever it appears to the Commissioner that any person has committed a violation of this subchapter that so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shareholders, or the public, then the Commissioner may proceed as provided in chapter 145 of this title.