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.
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