New Jersey § 17B:32-46 Basis for order of liquidation

New Jersey Statutes

§ 17B:32-46 — Basis for order of liquidation

New Jersey § 17B:32-46

Title 17BINSURANCE

This text of New Jersey § 17B:32-46 (Basis for order of liquidation) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 17B:32-46 (2026).

Text

16.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 11 of this act, 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. L.1992,c.65,s.16.

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16. 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 11 of this act, 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. L.1992,c.65,s.16.