507C.17 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 any of the following grounds:
1. Any ground for an order of rehabilitation specified in section 507C.12 whether or not there has been a prior order directing the rehabilitation of the insurer.
2. That the insurer is insolvent.
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.
84 Acts, ch 1175, §17
Referred to in §507C.9, 507C.16, 507C.51
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