2011 Connecticut Code
Title 38a Insurance
Chapter 704c Insurers Rehabilitation and Liquidation Act and Termination of Domestic Life Insurance Companies
Sec. 38a-948. (Formerly Sec. 38-466). Termination of proceedings.

      Sec. 38a-948. (Formerly Sec. 38-466). Termination of proceedings. (a) When all assets justifying the expense of collection and distribution have been collected and distributed under sections 38a-903 to 38a-961, inclusive, the liquidator shall apply to the court for discharge. The court may grant the discharge and make any other orders, including an order to transfer any remaining funds that are uneconomic to distribute, as may be deemed appropriate.

      (b) Any other person may apply to the court at any time for an order pursuant to subsection (a) of this section. If the application is denied, the applicant shall pay the costs and expenses of the liquidator in resisting the application, including a reasonable attorney's fee.

      (c) At any time after the court or judge has ordered the liquidation of the business of any such company, the commissioner may apply for the dissolution of such company, and such company, after notice and hearing and such other proceedings as the court deems equitable, may be dissolved.

      (P.A. 79-382, S. 46.)

      History: Sec. 38-466 transferred to Sec. 38a-948 in 1991.