The commissioner may:
1. Prosecute an action provided in this chapter in any court in this state or in any other state.
2. Appeal from an adverse judgment to the courts of last resort.
3. Settle and compromise an action if it is in the best interests of the receiptholders.
4. Settle and compromise an action if it is in the best interests of the credit-sale contract claimants.
5. Upon payment of the amount of the compromise or of the full amount of an insurance policy, bond, or conversion claim, exonerate the person so compromising or paying in full from further liability growing out of the action.