§ 26-28-122 — Power of commissioner to borrow on pledge of assets

(a) For the purpose of facilitating the rehabilitation,
liquidation, conservation or dissolution of an insurer pursuant
to this chapter, the commissioner, subject to court approval,
may:
(i) Borrow money and execute, acknowledge and deliver
notes or other evidences of indebtedness therefor and secure the
repayment of the notes or other evidences of indebtedness by the
mortgage, pledge, assignment, transfer in trust or hypothecation
of any of the insurer's property; and
(ii) Take any other action necessary and proper to
consummate any such loan and to provide for the repayment of
that loan.
(b) The commissioner has no obligation personally or in
his official capacity to repay any loan made pursuant to this
section.