Iowa Code 507C.17 – Grounds for liquidation
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Terms Used In Iowa Code 507C.17
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
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 § 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.
84 Acts, ch 1175, §17
Referred to in §507C.9, 507C.16, 507C.51
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 § 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.
84 Acts, ch 1175, §17
Referred to in §507C.9, 507C.16, 507C.51