State Codes and Statutes
Statutes > North-carolina > Chapter_58 > GS_58-30-100§58‑30‑100. Grounds for liquidation.
The Commissioner may petitionthe Court for an order directing him to liquidate a domestic insurer or analien insurer domiciled in this State on the basis:
(1) Of any ground for anorder of rehabilitation as specified in G.S. 58‑30‑75, whether ornot there has been a prior order directing the rehabilitation of the insurer;
(2) That the insurer isinsolvent; or
(3) That the insurer isin such condition that the further transaction of business would be hazardous,financially or otherwise, to its policyholders, its creditors, or the public. (1989,c. 452, s. 1.)
