Grounds for Order of Liquidation

  1. Law
  2. Georgia Code
  3. Insurance
  4. Insurers Rehabilitation and Liquidation
  5. Procedure for Rehabilitation
  6. Grounds for Order of Liquidation

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The Commissioner may petition the superior 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 Code Section 33-37-11, 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.

(Code 1981, §33-37-16, enacted by Ga. L. 1991, p. 1424, § 7.)

RESEARCH REFERENCES

Am. Jur. 2d.

- 43 Am. Jur. 2d, Insurance, § 83 et seq.

C.J.S.

- 44 C.J.S., Insurance, § 245 et seq.


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