Can you explain the concept of "insolvency" as mentioned in the text?
Insolvency, as mentioned in the text, refers to a situation where an individual is unable to pay off their debts or liabilities. This can be due to various reasons such as financial mismanagement, unforeseen circumstances like loss of job, or simply not having enough income to meet one's financial obligations. In this context, if the Chairman or any other member of a Public Service Commission is declared insolvent (unable to pay their debts), it is considered a ground for removal from office under clause (3).