Kentucky Revised Statutes Title XXV. Business and Financial Institutions § 304.33-190.Grounds for liquidation

(a) Any ground on which the commissioner may apply for an order of rehabilitation under KRS 304.33-140, whenever he or she believes that attempts to rehabilitate the insurer would substantially increase the risk of loss to its creditors, its policyholders or the public, or would be futile, or that rehabilitators would serve no useful purpose;

(b) That the insurer has commenced, or within the previous year has attempted to commence, voluntary liquidation otherwise than under the insurance laws of this state;

(c) That the holders of two-thirds (2/3) of the shares entitled to vote, or two-thirds (2/3) of the members or policyholders entitled to vote in an insurer controlled by its members or policyholders, have consented to a petition.