Section 1105. Voluntarily ceasing to maintain license

When an authorized
  insurer proposes to cease to maintain its existing licensing  status  in
  this  state,  the  insurer  shall at least forty-five days prior to such
  proposed action submit to the  superintendent  a  plan  to  protect  the
  interests  of  the  people of this state. Such proposed action shall not
  become  effective  without  the   approval   of   such   plan   by   the
  superintendent.  The  plan shall include requirements and procedures for
  meeting  the  insurer's  contractual  obligations,  providing   security
  protection  in  the  event  of  a subsequent insolvency, and meeting any
  applicable statutory obligations, including its obligations pursuant  to
  articles  fifty-three,  fifty-four  and fifty-five of this chapter. Such
  plan shall be in compliance with a regulation to be promulgated  by  the
  superintendent.  In order to protect the interests of the people of this
  state, the superintendent may require the deposit of securities in  this
  state, in trust, in the name of the superintendent.