{"data":{"id":"us-nj/n.j.-stat.-17b-32-46","jurisdiction":"us-nj","citation":"N.J. Stat. § 17B:32-46","heading":"Basis for order of liquidation","body":"16.  The commissioner may petition the Superior Court for an order directing him to liquidate a domestic insurer or an alien insurer domiciled in this State on the basis:\na.   Of any ground for an order of rehabilitation as specified in section 11 of this act, whether or not there has been a prior order directing the rehabilitation of the insurer;\nb.   That the insurer is insolvent; or\nc.   That the insurer is in such condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors or the public.\nL.1992,c.65,s.16.","path":["TITLE 17B INSURANCE"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"245588eb372bc637507adc6c4fc2a6694048c9b9aa5bfa86ced9e70c8843e578","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-17b-32-45","next":"us-nj/n.j.-stat.-17b-32-47"},"notice":"GroundRules: Original legal text. Not legal advice."}