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

Connecticut Statutes

§ 38a-919 — (Formerly Sec. 38-437). Grounds for liquidation.

Connecticut·Title 38a Insurance·Ch. 704c Insurers Rehabilitation and Liquidation Act and Termination of Domestic Life Insurance Companies

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.

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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.

Connecticut § 38a-919 ((Formerly Sec. 38-437). Grounds for liquidation.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.