DES MOINES, Iowa (AP) — Iowa’s top insurance official has asked a court to end a consumer-owned cooperative that was selling health insurance to residents in Iowa and Nebraska. Iowa Insurance Commissioner Nick Gerhart said Friday he would seek liquidation of CoOportunity Health. He expects the process to be complete by late February.

CoOportunity is a federally funded nonprofit aimed at providing more health care options in Iowa and Nebraska. State regulators took over CoOportunity late last year after the organization’s available funds were depleted. Gerhart says he chose liquidation after determining that the cooperative’s medical claims would exceed its cash on hand. He recommends people find other health insurance coverage by March 1.

The Des Moines Register reports CoOportunity insures about 120,000 people in Iowa and Nebraska.