As Amended
SEC. 83-24-33. Petition for order directing liquidation; grounds.
The commissioner may petition the court for an order directing him to liquidate a domestic insurer or an alien insurer domiciled in this state on the basis:
(a) Of any ground for an order of rehabilitation as specified in Section 83-24-23, whether or not there has been a prior order directing the rehabilitation of the insurer;
(b) That the insurer is insolvent; or
(c) 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.
SOURCES: Laws, 1991, ch. 417, Sec. 17, eff from and after passage (approved March 20, 1991).