N.C. Gen. Stat. § 58-30-100

Current through Session Law 2024-58

Section 58-30-100 - Grounds for liquidation

The Commissioner may petition the Court for an order directing him 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 G.S. 58-30-75, 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 policyholders, its creditors, or the public.

N.C. Gen. Stat. § 58-30-100

1989, c. 452, s. 1.