Sec. 38a-919. (Formerly Sec. 38-437). Grounds for liquidation. - Connecticut Statutes

      Sec. 38a-919. (Formerly Sec. 38-437). Grounds for liquidation. The commissioner may petition the Superior 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 38a-914, 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.

      (P.A. 79-382, S. 17.)

      History: Sec. 38-437 transferred to Sec. 38a-919 in 1991.