§ 27-14.3-21 - Grounds for liquidation. - Rhode Island Statutes

SECTION 27-14.3-21

   § 27-14.3-21  Grounds for liquidation.– The commissioner may petition the superior court for the county of Providencefor an order directing him or her to liquidate a domestic insurer or an alieninsurer domiciled in this state on the basis:

   (1) Of any ground for an order of rehabilitation as specifiedin § 27-14.3-16, whether or not there has been a prior order directing therehabilitation of the insurer;

   (2) That the insurer is insolvent; or

   (3) That the insurer is in a condition that would make thefurther transaction of business hazardous, financially or otherwise, to itspolicyholders, its creditors, or the public.