The Oregon Health Authority may apply for an order directing the authority to liquidate the business of a coordinated care organization, regardless of whether there has been a prior order directing the authority to rehabilitate the coordinated care organization, upon any of the grounds specified in ORS 415.280, or if the coordinated care organization:\n(1) Has ceased transacting business for a period of one year;\n(2) Under any laws except ORS 415.203 to 415.430 or rules adopted pursuant to ORS 415.011, has:\n(a) Commenced voluntary liquidation or dissolution;\n(b) Attempted to commence or prosecute an action or proceeding to liquidate its business or affairs;\n(c) Commenced dissolving its corporate charter; or\n(d) Commenced procuring the appointment of a receiver, trustee, custodian, or sequestrator; or\n(3) Is insolvent. [2019 c.478 §49]
Oregon Legal Code