33-2-1341. Grounds for liquidation.
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/mt/title-33/chapter-2/part-13/33-2-1341·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
33-2-1341 . Grounds for liquidation. The commissioner may petition the district court for an order directing the commissioner 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 33-2-1331 , 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 a condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors, or the public.