New Jersey Statutes
§ 17B:32-49 — Petition for dissolution
New Jersey·Title 17B INSURANCE
19.The commissioner may petition for an order dissolving the corporate existence of a domestic insurer, or the United States branch of an alien insurer domiciled in this State, at the time he applies for a liquidation order. The court shall order dissolution of the corporation upon petition by the commissioner upon or after the granting of a liquidation order. If the dissolution has not previously been ordered, it shall be effected by operation of law upon the discharge of the liquidator if the insurer is insolvent but may be ordered by the court upon the discharge of the liquidator if the insurer is under a liquidation order for some other reason. L.1992,c.65,s.19.
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Nearby Sections
15
§ 17B:32-31
Short title, purpose of act§ 17B:32-32
Application of authorized proceedings§ 17B:32-33
Definitions§ 17B:32-34
Jurisdiction over delinquency proceedings§ 17B:32-35
Restraining orders, injunctions§ 17B:32-36
Cooperation with commissioner in proceedings§ 17B:32-37
Proceedings previously commenced deemed commenced under this act; exceptions, distribution of claims§ 17B:32-39
Filing of petition; court orders§ 17B:32-42
Appointment of rehabilitator§ 17B:32-43
Powers of rehabilitator§ 17B:32-44
Staying of pending actions§ 17B:32-45
Petition for order of liquidation