§431:15-306 Grounds for liquidation. The commissioner may petition the circuit court of the first judicial circuit for an order directing the commissioner to liquidate a domestic insurer or an alien insurer domiciled in this State on any ground on which the commissioner may apply for an order of rehabilitation under section 431:15-301, whenever the commissioner believes that attempts to rehabilitate the insurer would substantially increase the risk of loss to its creditors, its policyholders or the public, or would be futile, or that rehabilitation would serve no useful purpose, whether or not there has been a prior order directing the rehabilitation of the insurer. [L 1987, c 347, pt of §2]
Section: Previous 431-15-202 431-15-203 431-15-301 431-15-302 431-15-303 431-15-304 431-15-305 431-15-306 431-15-307 431-15-308 431-15-309 431-15-310 431-15-311 431-15-312 431-15-313 NextLast modified: October 27, 2016