Nebraska § 44-4817 Grounds for liquidation

Nebraska Statutes

§ 44-4817 — Grounds for liquidation

Nebraska·Ch. 44 Insurance

The director may petition the district court of Lancaster County for an order directing him or her 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 44-4812 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 insureds or creditors or the public.

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The director may petition the district court of Lancaster County for an order directing him or her 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 44-4812 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 insureds or creditors or the public.

Nebraska § 44-4817 (Grounds for liquidation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.