The Commissioner may petition the superior court for an order directing him to liquidate a domestic insurer or an alien insurer domiciled in this state on the basis:
(1) Of any ground for an order of rehabilitation as specified in Code Section 33-37-11, whether or not there has been a prior order directing the rehabilitation of the insurer;
(2) That the insurer is insolvent; or
(3) That the insurer is in such condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors, or the public.
Section: Previous 33-37-11 33-37-12 33-37-13 33-37-14 33-37-15 33-37-16 33-37-17 33-37-18 33-37-19 33-37-20 33-37-21 33-37-22 33-37-23 33-37-24 33-37-25 NextLast modified: October 14, 2016