Whenever it appears to the Governor that the welfare of the State or any section thereof, or the welfare and security of insurers under the supervision of the superintendent or their insureds or beneficiaries require, the Governor may proclaim that an insurance emergency exists and this subchapter shall thereupon become effective.   [PL 1969, c. 132, §1 (NEW); PL 1973, c. 585, §12 (AMD).]