44-4817. Grounds for liquidation.
97 words·~1 min read·
/ne/chapter-44/44-4817A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The director may petition the district court of Lancaster County for an order directing him or her 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 section 44-4812 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 insureds or creditors or the public.