Section 522. Dissolution of Insurer.--The commissioner may petition for an order dissolving the corporate existence of a domestic insurer or the United States branch of an alien insurer domiciled in this Commonwealth at the time he applied for a liquidation order. The court shall order dissolution of the corporation upon petition by the commissioner upon or after the granting of a liquidation order. If the dissolution has not previously been ordered, it shall be effected by operation of law upon the discharge of the liquidator.
(522 added Dec. 14, 1977, P.L.280, No.92)