Montana § 33-2-1341 Grounds For Liquidation

Montana Statutes

§ 33-2-1341 — Grounds For Liquidation

Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 2 REGULATION OF INSURANCE COMPANIES·Part 13 Supervision, Rehabilitation, and Liquidation

33-2-1341 . Grounds for liquidation. The commissioner may petition the district court for an order directing the commissioner 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 33-2-1331 , 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 a 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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33-2-1341 . Grounds for liquidation. The commissioner may petition the district court for an order directing the commissioner 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 33-2-1331 , 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 a condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors, or the public.

Montana § 33-2-1341 (Grounds For Liquidation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.