Nebraska Revised Statute 44-4817

Chapter 44

44-4817.

Grounds for liquidation.

The director may petition the district court of Lancaster County for an order directing him or her to liquidate a domestic insurer or an alien insurer domiciled in this state on the basis:

(1) Of any ground for an order of rehabilitation as specified in section 44-4812 whether or not there has been a prior order directing the rehabilitation of the insurer;

(2) That the insurer is insolvent; or

(3) That the insurer is in such condition that the further transaction of business would be hazardous, financially or otherwise, to its insureds or creditors or the public.

Source

  • Laws 1989, LB 319, § 17;
  • Laws 1991, LB 236, § 72.