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2017 Nebraska Revised Statutes
Chapter 44 - INSURANCE
44-4817 Grounds for liquidation.
Universal Citation: NE Code § 44-4817 (2017)
44-4817. Grounds 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.
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