{"data":{"id":"us-vt/8-v.s.a.-7056","jurisdiction":"us-vt","citation":"8 V.S.A. § 7056","heading":"Grounds for liquidation","body":"The Commissioner may petition the Superior Court of Washington County for an order directing the Commissioner to liquidate a domestic insurer or an alien insurer domiciled in this State on the basis of one or more of the following grounds:\n(1) one or more grounds for an order of rehabilitation under section 7051 of this title exist, whether or not there has been a prior order directing the rehabilitation of the insurer; or\n(2) 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.","path":["Title 8: Banking and Insurance","Chapter 145: Supervision, Rehabilitation, and Liquidation of Insurers","Subchapter 003: FORMAL PROCEEDINGS"],"source_url":"https://legislature.vermont.gov/statutes/section/08/145/07056","current_through":"2025 session","vintage":"","retrieved_at":"2026-09-05T13:57:51Z","sha256":"93395f45106e43827781be7a146ce21566cb52f520ff4d48a24ea85de316c73e","source_id":"us-vt","stale":false,"prev":"us-vt/8-v.s.a.-7055","next":"us-vt/8-v.s.a.-7057"},"notice":"GroundRules: Original legal text. Not legal advice."}