§ 26-28-110 — Order of liquidation

(a) An order to liquidate the business of a domestic
insurer shall direct the commissioner immediately to:
(i) Take possession of the insurer's property;
(ii) Liquidate the insurer's business;
(iii) Deal with the insurer's property and business
in his own name as commissioner of insurance or in the insurer's
name, as the court directs; and
(iv) Give notice to all creditors with claims against
the insurer to present those claims.
(b) The commissioner may apply for and secure an order
dissolving the corporate existence of a domestic insurer upon
his application for an order of that insurer's liquidation or at
any time after the order is granted.