31A-27a-304. Termination of rehabilitation.
(1) The rehabilitator may move for an order of liquidation whenever the rehabilitator believes further attempts to rehabilitate an insurer would: substantially increase the risk of loss to creditors, policyholders, or the public; or be futile. In accordance with Section, the rehabilitator or the rehabilitator's designated representative shall coordinate with an affected guaranty association and any national association of guaranty associations to plan for transition to liquidation. 31A-27a-305
(2) The rehabilitator shall petition the receivership court for an order of liquidation or seek an order, on good cause shown, for a longer suspension period if: the payment of a policy obligation is suspended in substantial part for a period of six months at any time after the appointment of the rehabilitator; and the rehabilitator has not filed an application for approval of a plan under Section. 31A-27a-303
(3) The receivership court may enter an order terminating rehabilitation of an insurer: on petition from the rehabilitator, which may be made at any time; on petition from the directors of the insurer, which may be made at any time; or on the receivership court's own motion. Subject to Section, if the receivership court finds that rehabilitation is accomplished and that grounds for rehabilitation under Sectionno longer exist, the receivership court shall order that the insurer be restored to: 31A-27a-801 31A-27a-207 title and possession of its property; and the control of the business.