§ 27-14.3-21 - Grounds for liquidation. - Rhode-island Statutes

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SECTION 27-14.3-21

§ 27-14.3-21 Grounds for liquidation.– The commissioner may petition the superior court for the county of Providencefor an order directing him or her to liquidate a domestic insurer or an alieninsurer domiciled in this state on the basis:

(1) Of any ground for an order of rehabilitation as specifiedin § 27-14.3-16, whether or not there has been a prior order directing therehabilitation of the insurer;

(2) That the insurer is insolvent; or

(3) That the insurer is in a condition that would make thefurther transaction of business hazardous, financially or otherwise, to itspolicyholders, its creditors, or the public.

State Codes and Statutes

Statutes > Rhode-island > Title-27 > Chapter-27-14-3 > 27-14-3-21

SECTION 27-14.3-21

§ 27-14.3-21 Grounds for liquidation.– The commissioner may petition the superior court for the county of Providencefor an order directing him or her to liquidate a domestic insurer or an alieninsurer domiciled in this state on the basis:

(1) Of any ground for an order of rehabilitation as specifiedin § 27-14.3-16, whether or not there has been a prior order directing therehabilitation of the insurer;

(2) That the insurer is insolvent; or

(3) That the insurer is in a condition that would make thefurther transaction of business hazardous, financially or otherwise, to itspolicyholders, its creditors, or the public.

State Codes and Statutes

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State Codes and Statutes

Statutes > Rhode-island > Title-27 > Chapter-27-14-3 > 27-14-3-21

SECTION 27-14.3-21

§ 27-14.3-21 Grounds for liquidation.– The commissioner may petition the superior court for the county of Providencefor an order directing him or her to liquidate a domestic insurer or an alieninsurer domiciled in this state on the basis:

(1) Of any ground for an order of rehabilitation as specifiedin § 27-14.3-16, whether or not there has been a prior order directing therehabilitation of the insurer;

(2) That the insurer is insolvent; or

(3) That the insurer is in a condition that would make thefurther transaction of business hazardous, financially or otherwise, to itspolicyholders, its creditors, or the public.