33-2-1341. 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 the basis:
(1) of any ground for an order of rehabilitation as specified in 33-2-1331, 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 a condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors, or the public.
History: En. Sec. 17, Ch. 383, L. 1979; amd. Sec. 1103, Ch. 56, L. 2009.
Structure Montana Code Annotated
Title 33. Insurance and Insurance Companies
Chapter 2. Regulation of Insurance Companies
Part 13. Supervision, Rehabilitation, and Liquidation
33-2-1302. Construction and purpose
33-2-1304. To whom proceedings may be applied
33-2-1305. Who may bring action -- procedure exclusive
33-2-1306. Personal jurisdiction
33-2-1307. Stay pending out-of-state proceedings
33-2-1309. Injunctions and orders
33-2-1310. Cooperation of officers, owners, and employees
33-2-1312. through 33-2-1320 reserved
33-2-1321. Commissioner's summary orders and supervision proceedings
33-2-1322. Court's seizure order
33-2-1323. Confidentiality of proceedings
33-2-1324. through 33-2-1330 reserved
33-2-1331. Grounds for rehabilitation
33-2-1332. Rehabilitation orders
33-2-1333. Powers and duties of the rehabilitator
33-2-1334. Effect of proceedings on pending and potential litigation
33-2-1335. Standing of guaranty associations in proceedings
33-2-1336. Termination of rehabilitation
33-2-1337. through 33-2-1340 reserved
33-2-1341. Grounds for liquidation
33-2-1343. Continuance of policy coverage
33-2-1344. Dissolution of insurer
33-2-1345. Powers of liquidator
33-2-1346. Notice to creditors and others
33-2-1347. Duty of insurance producers to give notice
33-2-1348. Effect of proceedings on pending and potential litigation -- actions by liquidator
33-2-1349. Standing of guaranty associations in proceedings
33-2-1350. Collection and listing of assets
33-2-1351. Fraudulent transfers prior to petition
33-2-1352. Fraudulent transfer after petition
33-2-1353. Voidable preferences and liens
33-2-1354. Procedure for voiding preferences and liens
33-2-1355. Set off for further credit given in good faith
33-2-1356. Transactions to pay for attorneys' services
33-2-1358. Claims of holders of void or voidable rights
33-2-1360. Assessments against members of insurer
33-2-1361. Reinsurer's liability
33-2-1362. Recovery of premiums owed
33-2-1363. Domiciliary liquidator's proposal to distribute assets
33-2-1367. Claims of insureds or claimants against insureds
33-2-1370. Claims of secured creditors
33-2-1371. Priority of distribution
33-2-1372. Liquidator's recommendations to the court concerning claims
33-2-1373. Distribution of assets
33-2-1374. Unclaimed and withheld funds
33-2-1375. Termination of liquidation proceedings
33-2-1376. Reopening liquidation
33-2-1377. Disposition of records during and after liquidation
33-2-1378. Audit of the receiver's books
33-2-1379. Conservation of property of foreign or alien insurers
33-2-1380. Liquidation of assets of foreign or alien insurers
33-2-1381. Domiciliary liquidators in other states
33-2-1382. Ancillary formal proceedings
33-2-1383. Ancillary summary proceedings
33-2-1384. Claims of nonresidents against insurers domiciled in this state
33-2-1385. Claims of residents against insurers domiciled in reciprocal states
33-2-1386. Exemption from legal process during pendency of liquidation
33-2-1387. Interstate priorities
33-2-1388. Subordination of claims for noncooperation of ancillary receiver
33-2-1389. and 33-2-1390 reserved
33-2-1391. Condition on release from delinquency proceedings
33-2-1392. Indemnification of rehabilitator, liquidator, and employees -- persons covered
33-2-1393. Indemnification of rehabilitator, liquidator, and employees