§ 58-30-100. Grounds for liquidation. - North Carolina Statutes

§58‑30‑100.  Grounds for liquidation.

The Commissioner may petitionthe Court for an order directing him to liquidate a domestic insurer or analien insurer domiciled in this State on the basis:

(1)        Of any ground for anorder of rehabilitation as specified in G.S. 58‑30‑75, whether ornot there has been a prior order directing the rehabilitation of the insurer;

(2)        That the insurer isinsolvent; or

(3)        That the insurer isin such condition that the further transaction of business would be hazardous,financially or otherwise, to its policyholders, its creditors, or the public. (1989,c. 452, s. 1.)