40-3621. Liquidation of insurer; petition by commissioner; grounds.
40-3621
40-3621. Liquidation of insurer; petition by commissioner; grounds.The commissioner may petition the district court of Shawneecountyfor an order directing the commissioner to liquidate a domestic insurer on thebasis:
(a) Of any grounds for an order of rehabilitation as specified in K.S.A.40-3616,whether or not there has been a prior order directing the rehabilitation of theinsurer;
(b) that the insurer is insolvent; or
(c) that the insurer is in such condition that the further transaction ofbusiness would be hazardous, financially or otherwise, to its policyholders,its creditors or the public.
History: L. 1991, ch. 125, § 17; July 1.