{"data":{"id":"us-ky/krs-304.33-190","jurisdiction":"us-ky","citation":"KRS 304.33-190","heading":"Grounds for liquidation.","body":"(1) The commissioner may apply by petition to the Circuit Court for Franklin County or\nfor the county in which the principal office of the insurer is located for an order\ndirecting him or her to liquidate a domestic insurer or an alien insurer domiciled in\nthis state on any one (1) or more of the following grounds:\n(a) Any ground on which the commissioner may apply for an order of\nrehabilitation under KRS 304.33 -140, whenever he or she believes that\nattempts to rehabilitate the insurer would substantially increase the risk of loss\nto its creditors, its policyholders or the public, or would be futile, or that\nrehabilitators would serve no useful purpose;\n(b) That the insurer has commenced, or within the previous year has attempted to\ncommence, voluntary liquidati on otherwise than under the insurance laws of\nthis state;\n(c) That the holders of two-thirds (2/3) of the shares entitled to vote, or two-thirds\n(2/3) of the members or policyholders entitled to vote in an insurer controlled\nby its members or policyholders, have consented to a petition.\n(2) Upon the issuance of an order directing the commissioner to liquidate a domestic\ninsurer, the court shall have exclusive jurisdiction over all matters relating to the\nliquidation, including but not limited to, the proper  scope and application of the\nprovisions of this subtitle to the liquidation as well as all interpretation and\nenforceability of all contracts of insurance to which the insurer is a party.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29837","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:54Z","sha256":"bc732ef5f7b2ddfe17ecfba41de25ecfe0668587be65a1e069ee05d24bb452dc","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.33-180","next":"us-ky/krs-304.33-200"},"notice":"GroundRules: Original legal text. Not legal advice."}