J. MILLARD TAWES, Governor                     1047

(2)   If at any time the Commissioner deems that further efforts
to rehabilitate the insurer would be useless, he may apply to the
court for an order of liquidation.

(3)   The Commissioner, or any interested person upon due notice
to the Commissioner, at any time may apply to the court for an
order terminating the rehabilitation proceedings and permitting the
insurer to resume possession of its property and the conduct of its
business, but no such order shall be made or entered except when,
after a hearing, the court has determined that the purposes of the
proceeding have been fully accomplished.

142.    Order of Liquidation—Domestic Insurers.

(1)   An order to liquidate the business of a domestic insurer shall
direct the Commissioner forthwith to take possession of the prop-
erty of the insurer, to liquidate its business, to deal with the insurer's
property and business in his own name as Commissioner or in the
name of the insurer, as the court may direct, and to give notice to
all creditors who may have claims against the insurer to present
such claims.

(2)   The Commissioner may apply for and secure an order dis-
solving the corporate existence of a domestic insurer upon his appli-
cation for an order of liquidation of such insurer or at any time after
such order has been granted.

143.    Order of Liquidation—Alien Insurers.

An order to liquidate the business of a United States branch of an
alien insurer having trusteed assets in this State shall be in the same'
terms as those prescribed for domestic insurers, save and except only
that the assets of the business of such United States branch shall be
the only assets included therein.

144.    Order of Conservation or Ancillary Liquidation of Foreign or
Alien Insurers.

(1)   An order to conserve the assets of a foreign or alien insurer
shall require the Commissioner forthwith to take possession of the
property of the insurer within this State and to conserve it, subject
to the further direction of the court.

(2)   An order to liquidate the assets in this State of a foreign
insurer shall require the Commissioner forthwith to take possession
of the property of the insurer within this State and to liquidate it
subject to the orders of the court and with due regard to the rights
and powers of the domiciliary receiver, as provided in this subtitle.

145.    Conduct of Delinquency Proceedings Against Domestic and
Alien Insurers.

(1) Whenever under this subtitle a receiver is to be appointed in
delinquency proceedings for a domestic or alien insurer, the court
shall appoint the Commissioner as such receiver. The court shall
order the Commissioner forthwith to take possession of the assets
of the insurer and to administer the same under the orders of the
court.