26-28-106. Grounds for receivership; liquidation.
(a) The commissioner may apply to the court for an order appointing him as receiver, if his appointment as receiver is not then in effect, and directing him to liquidate the business of a domestic insurer or of the United States branch of an alien insurer having trusteed assets in this state, regardless of whether or not there has been a prior order directing him to rehabilitate the insurer, upon any of the grounds specified in W.S. 26-28-105, or if the insurer:
(i) Does not transact business for a period of one (1) year; or
(ii) Is insolvent and has commenced voluntary liquidation or dissolution or attempts to:
(A) Commence or prosecute any action or proceeding to liquidate its business or affairs;
(B) Dissolve its corporate charter; or
(C) Procure the appointment of a receiver, trustee, custodian or sequestrator under any law except this code.
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