83-24-33 - Petition for order directing liquidation; grounds. - Mississippi Statutes

§ 83-24-33. Petition for order directing liquidation; grounds.
 

The commissioner may petition the 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 83-24-23, 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. 
 

Sources: Laws,  1991, ch. 417, § 17, eff from and after passage (approved March 20, 1991).