44-4817. Grounds for liquidation.The director may petition the district court of Lancaster County for an order directing him or her 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 section 44-4812 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 insureds or creditors or the public.Source Laws 1989, LB 319, § 17; Laws 1991, LB 236, § 72.
Nebraska Legal Code