§33-10-11. Order of liquidation of domestic insurer.
(a) An order to liquidate the business of a domestic insurer
shall direct the commissioner forthwith to take possession of the
assets of the insurer, to liquidate its business, to deal with the
insurer's property and business in his or her own name as insurance
commissioner or in the name of the insurer, as the court may
direct, and to give notice to all creditors who may have claims
against the insurer to present their claims.
(b) The commissioner may apply for and secure an order
dissolving the corporate existence of a domestic insurer upon his
or her application for an order of liquidation of the insurer or at
any time after such order has been granted.