Idaho § 41-3317 GROUNDS FOR LIQUIDATION

Idaho Statutes

§ 41-3317 — GROUNDS FOR LIQUIDATION

Idaho·Title 41 INSURANCE·Ch. 33 INSURERS SUPERVISION, REHABILITATION AND LIQUIDATION

The director may petition the district court for an order directing him to liquidate a domestic insurer or an alien insurer domiciled in this state on the basis:

(1)Of any ground for an order of rehabilitation as specified in section 41-3312, Idaho Code, whether or not there has been a prior order directing the rehabilitation of the insurer;

(2)That the insurer is insolvent; or

(3)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 director may petition the district court for an order directing him to liquidate a domestic insurer or an alien insurer domiciled in this state on the basis:
(1) Of any ground for an order of rehabilitation as specified in section 41-3312, Idaho Code, whether or not there has been a prior order directing the rehabilitation of the insurer;
(2) That the insurer is insolvent; or
(3) 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.

Idaho § 41-3317 (GROUNDS FOR LIQUIDATION) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.