83-23-5 - Commissioner designated as receiver.
§ 83-23-5. Commissioner designated as receiver.
In event of the appointment of a receiver of any insurance company, the chancery court having jurisdiction shall designate the commissioner of insurance as such receiver. He shall serve as such without compensation other than his regular salary, but the chancery court may authorize the payment of his actual expenses incurred, and may authorize the employment and compensation of such employees, assistants, and attorneys as may be required in the administration of such receivership.
Sources: Codes, 1942, § 5644; Laws, 1938, ch. 195.