(1) An order to liquidate the business of a coordinated care organization shall direct the Oregon Health Authority to: (a) Take possession of the property of the coordinated care organization; (b) Liquidate the business of the coordinated care organization; (c) Deal with the coordinated care organizations property and business in the name of the authority or in the name of the coordinated care organization as the court may direct; and (d) Give notice to all creditors who may have claims against the coordinated care organization to present such claims. (2) The authority may apply to the court for an order dissolving the corporate existence of a coordinated care organization at the time the authority applies for an order to liquidate or at any time after an order to liquidate has been granted.
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