Iowa Code § 507C.17

Current through bills signed by governor as of 5/17/2024

Section 507C.17 - Grounds for liquidation

The commissioner may petition the district court for an order directing the commissioner to liquidate a domestic insurer or an alien insurer domiciled in this state on any of the following grounds:

1. Any ground for an order of rehabilitation specified in section 507C.12 whether or not there has been a prior order directing the rehabilitation of the insurer.

2. That the insurer is insolvent.

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

Iowa Code § 507C.17

84 Acts, ch 1175, §17

Referred to in §507C.9, 507C.16, 507C.51