58-29B-142. Director's application to act as receiver--Grounds.
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/sd/title-58/chapter-58-29/58-29b-142·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
On the same grounds as are specified in § 58-29B-138 , the director may petition any appropriate federal district court to be appointed receiver to liquidate that portion of the insurer's assets and business over which that court will exercise jurisdiction, or any lesser part thereof that the director deems desirable for the protection of the policyholders and creditors in this state.