(2) The director may apply under this chapter for an order dissolving the corporate existence of a domestic insurer:
(a) Upon the application of the director for an order of liquidation of such insurer, or at any time after such order has been granted; or
(b) Upon the grounds specified in ORS 734.170 (3), regardless of whether an order of liquidation is sought or has been obtained. [Formerly 738.470]
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