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:
Of any ground for an order of rehabilitation as specified in Section 83-24-23, whether or not there has been a prior order directing the rehabilitation of the insurer;
That the insurer is insolvent; or
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.
Structure Mississippi Code
Chapter 24 - Insurers Rehabilitation and Liquidation Act
§ 83-24-3. Declaration of purpose
§ 83-24-5. Application of chapter
§ 83-24-15. Commencement of proceedings under former law; application of current provisions
§ 83-24-17. Restrictions on insurer after commencement of delinquency proceedings
§ 83-24-21. Confidentiality of records pertaining to proceedings
§ 83-24-33. Petition for order directing liquidation; grounds
§ 83-24-39. Petition for order to dissolve corporate existence
§ 83-24-63. Recovery from reinsurers; amount
§ 83-24-79. Failure of secured creditor to file claim; distribution on claim
§ 83-24-83. Priority of distribution of claims; order of distribution
§ 83-24-87. Payment of distributions
§ 83-24-93. Reopening proceedings after discharge of liquidator; orders
§ 83-24-95. Destruction of records
§ 83-24-107. Discretion of commissioner of insurance to institute proceedings