2006 Nebraska Revised Statutes - § 44-4817 — Grounds for liquidation.
Section 44-4817Grounds for liquidation.
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.
Source:
- Laws 1989, LB 319, § 17
Laws 1991, LB 236, § 72
~Reissue Revised Statutes of Nebraska
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