§33-10-6. Grounds for liquidation.
The commissioner may apply to the court for an order
appointing him as receiver (if his appointment as receiver shall
not be then in effect) and directing him to liquidate the
business of a domestic insurer or of the United States branch of
an alien insurer having trusteed assets in this state, regardless
of whether or not there has been a prior order directing him to
rehabilitate such insurer, upon any of the grounds specified in
section five of this article, or if such insurer:
(a) Has ceased transacting business for a period of one
(b) Is an insolvent insurer and has commenced voluntary
liquidation or dissolution, or attempts to commence or prosecute
any action or proceeding to liquidate its business or affairs, or
to dissolve its corporate charter, or to procure the appointment
of a receiver, trustee, custodian, or sequestrator under any law
except this chapter.