{"data":{"id":"us-ky/krs-304.33-180","jurisdiction":"us-ky","citation":"KRS 304.33-180","heading":"Termination of rehabilitation.","body":"(1) Transformation to liquidation. Whenever he believes that further attempts to\nrehabilitate an insurer would substantially increase the risk of loss to creditors or\npolicyholders, or would be futile, the rehabilitator may petition the court for an\norder of liquidation. A petition under this subsection shall have the same effect as a\npetition under KRS 304.33 -190. The court shall permit the directors to defend\nagainst the petition and shall order payment from the estate of the insurer of such\ncosts and other expenses of defense as justice requires.\n(2) Order to return to insurer. The rehabilitator may at any time petition the court for an\norder terminating rehabilitation of an insurer. If the court finds that rehabilitation\nhas been accomplished and that groun ds for rehabilitation under KRS 304.33 -140\nno longer exists, it shall order that the insurer be restored to possession of its\nproperty and the control of its business. The court may also make that finding and\nissue that order at any time upon its own motion.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29836","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:54Z","sha256":"b6ad38aa8b23de101e9ebd98da3bd258ad0d5f32f58389903ed768a91906c4e9","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.33-170","next":"us-ky/krs-304.33-190"},"notice":"GroundRules: Original legal text. Not legal advice."}