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2021 Indiana Code
Title 27. Insurance
Article 9. Supervision; Rehabilitation; Liquidation
Chapter 3. Formal Proceedings
27-9-3-6. Basis for Liquidation
Universal Citation:
IN Code § 27-9-3-6 (2021)
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Sec. 6. The commissioner may petition the Marion County circuit court for an order directing him to liquidate a domestic insurer or an alien insurer domiciled in Indiana on the basis:
(1) of any ground for an order of rehabilitation as specified in section 1 of this chapter, 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 a condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors, or the public.
As added by Acts 1979, P.L.255, SEC.1.
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